Collections Specialist (Perryville Or Cape Girardeau)

Working at The Bank of Missouri

At The Bank of Missouri we know it takes great people to support the communities we serve! We are passionate about caring for people and communities, and know how to recognize and reward our employees for their talent and contributions. When you work at The Bank of Missouri, you not only get to help others, but you also get the resources, opportunities and support to grow your own career.

About our Company

Staying in business for more than 125 years is hard. Really hard. If you think about it, we’ve endured many events, like the Great Depression and two World Wars. We’ve survived and thrived, thanks to our great customers and communities. We were founded on core values of accountability, community service and financial conservatism. Those principles are the reason we are still in business today. Caring for people and communities is our foundation!
We’ve built a reputation of being financially secure and community focused. We are an independent community bank and fully intend to stay that way. We are big enough to accommodate any financial need, yet small enough to give every customer the personal treatment they deserve.

About this job:

The Collections Specialist directs, plans and implements the credit collection, counseling, and related administrative responsibilities associated with delinquent retail, commercial, and SBA loans. This includes primary ownership of collections on Consumer Loans generated by Decision Pro and collections on Dex Card Program.

Here are some of the great benefits you will enjoy as a member of our team:

• Competitive Salary
• Personal paid time off, as eligible and paid holidays
• 401K and Employee Stock Option Plan, as eligible
• Generous medical, dental, vision, life and disability insurance
• Fitness reimbursement
• Learning, development and growth opportunities

As a Collections Specialist you will:

• Be responsible for all collections for loans approved automatically by Decision Pro system, as well as related documentation and tasks.
• Be responsible for all collections for Consumer and Small Business Dex Card Products, as well as Corporate and P Card products, as needed, for The Bank of Missouri and Client Banks.
• Repossessions: Work directly with third party Agents in the repossession of vehicles and other personal property assets. Get needed information to the agent, correspond with agent in the process of evaluating the vehicles, determining marketability, and then reselling the vehicles. Manage the process of transferring said assets to Other Assets Owned on Bank books. Handle paperwork needed to process payment of expenses, convey title, and process the sales proceeds pertaining to those assets.
• Special Assets: Occasionally work with Loan Officers and/or legal counsel on repossession of assets other than those listed above, such as business equipment and inventory. Get needed information to attorney for repossession of said assets, and utilize common sense in determining the disposition of those assets to the maximum benefit of bank.
• Within constraints of statute and per Bank policy, make initial contact by phone, letter or face-to-face with borrowers of the Bank in arrears on their payments. Make first contact when borrower is 10-15 days delinquent. Attempt to establish a repayment arrangement that will bring the customer current in the realistically shortest possible time while taking into consideration the individual's ability to repay and their other debts. Accept payments from delinquent customers. Review delinquent loan report once a week.
• Counsel borrowers with credit problems an assist then in reducing their indebtedness and making full repayment to creditors thus re-establishing a satisfactory credit rating or refer them to an appropriate credit counseling organization.
• Maintain an acceptable level of delinquency percentages. Prepare periodic reports on the status of delinquencies, indicating likelihood of recovery and/or time frame until account is current.
• At the request of a Loan Officer, assist on delinquencies, including, discussions with counsel, preparation of documentation necessary for repossession or foreclosure, and related dates.
• Act as bank contact with other financial institutions for purposes of collection or debt or return of collateral securing same.
• Assist Management in developing and implementing strategies to recover principal from borrowers whose non-performing loans have been charged off. Work closely with the bank's legal counsel to maximize recovery of such funds.
• Provide assistance to co-workers with difficult customers or problems.
• Assist in the training of loan officers in proper collection efforts to include maintaining compliance with regulations on collection practices.

Qualifications for Success:

• High school diploma or general education degree (GED)
• 5 years’ experience in lending and 5 years’ experience in collections (can be simultaneously)
• Prefer experience with: Salesforce, Fiserv/Green Screen Platform, JackHenry Platfrom, repossessions

The Bank of Missouri is an Equal Opportunity Employer