Collections Specialist

Collections Specialist

Primary Purpose

The position of Collections Specialist is responsible for the collection efforts of borrower account balances for multiple customers associated with Continental Bank. The Collection Specialist works under the direction of the Chief Credit Officer of the Bank. Reports to senior management, and other bank officers, bank counsel and agents as needed. The Specialist also assigns collateral for repossession to recovery agents and coordinates with them in the recovery efforts associated with equipment and foreclosed property on uncollectable accounts.

Essential Functions

• Making outgoing calls to the Bank’s borrowers who are past due in making loan payments.
• Take ownership of each customer account while empathizing and prioritizing customer needs.
• Resolve conflicts and manage customer expectations. Determine customer needs and provide appropriate solutions through relationship building.
• Identify slow paying borrowers and potential problems by creating and maintaining reporting structures to monitor delinquency and other aspects as needed.
• Collect past due payments, taxes, and residuals.
• Draft and distribute various specialized collection letters to obtain necessary payments.
• Utilize various bank forms, agents, phone calls and other means to obtain past due payments. Set and enforce commitment dates with the borrower to ensure borrower keeps his/her commitments.
• Recommend accounts for non-accrual/accrual status, write-downs, specific reserves, or charge-offs.
• Work with the Bank’s legal department for the sending out of demand letters and the recommending of other legal actions.
• Approve and submit for approval repossessions, prepare and submit condition reports to the Chief Credit Officer, which includes potential exposure.

Qualifications and Requirements

• 2+ years of experience in collections or equivalent work experience.
• Operational knowledge related to accounting, finance, and general business practices.
• Working knowledge of equipment financing structures
• Understanding of regulatory, market and macroeconomic environments relative to commercial banking.
• Strong and effective communication, conflict resolution, and negotiation abilities.

Personal Attributes

• Sound sense of responsibility, diligence and commitment to position and company values.
• Strong interpersonal skills, ability to communicate and manage well at all levels of the organization.
• Solid problem solving and creative skills and the ability to exercise sound judgment and make decisions based on accurate and timely analyses.
• High level of integrity and dependability with a strong sense of urgency and results-orientation.
• Detail oriented.

Other Skills & Abilities

• PC high level of competency is essential in Microsoft applications including Word, Excel and Outlook.
• Organizational, verbal and written communication skills a must.
• Attention to detail and ability to multi-task is an asset.

Job Type: Full-time

Pay: $55,000.00 - $75,000.00 per year

Benefits:

• 401(k)
• 401(k) matching
• AD&D insurance
• Dental insurance
• Employee assistance program
• Health insurance
• Health savings account
• Life insurance
• Paid time off
• Referral program
• Tuition reimbursement
• Vision insurance

Weekly day range:

• Monday to Friday

Work setting:

• Office

Work Location: In person