Collection Specialist III

Exempt - Grade Level 7

Equal Employment Opportunity

Corporate Values & Mission

“Provide superior service and quality advice and show utmost respect to everyone we meet.”

General Summary

The Collection Specialist III assists with the overall collection efforts of all consumer delinquent loan types including more complex collection activities such as Foreclosures, Bankruptcies, Forbearances, TLM determination, Freddie Mac reporting and repayment options, RESPA process and correspondences as well as providing support to facilitate and safeguard the overall lending function. Position will oversee multiple system and department processes.

Reports To: VP Collections & Special Assets Manager

Essential Duties and Responsibilities

• Contact past due customers, primarily via phone or through other means, in accordance with acceptable collection practices.

• Work with customers to bring past due accounts current

• Review any accounts recommended for legal action or repossession with the VP Collections & Special Assets Manager and process necessary steps to complete collection or legal action(s)

• Must have experience and expertise in development and implementation of workout strategies including Forbearances, Modifications, Repayment Agreements and TLM’s.

• Review and analyze all types of credit and collateral information for a diverse range of loans including determining DTI, DSC, TLM and LTV.

• Oversee the Other Real Estate (ORE) portfolio to include maintaining the subject property, negotiating with agents on the sale of the property, liquidating the property in a timely manner and maintaining appropriate record keeping.

• Works with 3rd Party Vendors such as Attorneys, Appraisers, Environmental Companies and Property Management entities as necessary.

• Prepare various banking related reports and correspondences.

• Oversee the CARM (collection software system) process to the point of System Administrator evidenced by ability to produce customer letters, process customer campaigns and field screen arrangement and development.

• Assist in overall collection efforts of the department

• Prepare, present and attend departmental meetings up to and including Senior Management Level Credit, ALLL and Risk monitoring meetings.

• Oversee the reporting requirement process including probate claims, 1099 reporting, small claims, bankruptcy claims, insurance claims and PMI claims.

• Mentor other collections personnel as needed

• Assigned field calls

• Other duties as assigned

• Be familiar with and comply with all federal and state banking regulations as applicable.

• Be familiar with and comply with the provisions of the Bank Secrecy Act and USA PATRIOT Act as they relate to the functions of this position. Complete all required reports related to those acts and reports any observed violations or potential violations of those acts to a supervisor or other appropriate bank officer.

• Be familiar with and comply with all federal and state banking regulations as applicable

Core Competencies

In addition to the Corporate Core Competencies, individuals in this position are expected to exhibit the following:

• Communication – Speaks clearly and persuasively; listens and gets clarification; responds well to questions; demonstrates group presentation skills; participates in meetings. Writes clearly and informatively; edits work for spelling and grammar; presents numerical data accurately; able to read and interpret written information.
• Analytical – Synthesizes complex and diverse information; collects and researches data; uses intuition and experience to complement data.
• Technical Skills – Assesses own strengths and weaknesses; pursues training and development opportunities; strives to continuously build knowledge and skills; shares expertise with others. Has a thorough understanding of underwriting, coverages and rating procedures
• Quality – Demonstrates accuracy and thoroughness; monitors own work to ensure quality.
• Quantity – Meets productivity standards; completes work in a timely manner; strives to increase productivity; works quickly.
• Adaptability – Adapts to changes in work environment; manages competing demands; changes approach or method to best fit the situation; able to deal with frequent change, delays or unexpected events.
• Dependability – Follows instructions; responds to management direction; takes responsibility for own actions; keeps commitments; commits to long hours of work when necessary to reach goals; completes tasks on time or notifies appropriate person with an alternate plan.
• Initiative – Undertakes self-development activities; takes independent actions and calculated risks; looks for and takes advantage of opportunities; asks for and offers help when needed].
• Innovation – Displays original thinking and creativity; meets challenges with resourcefulness; presents ideas and information in a manner that gets others’ attention.

Qualifications

To perform this job successfully, an Individual in this position must be able to perform each of the above essential duties satisfactorily and exhibit the values of the Company. In addition, the requirements listed below are representative of the knowledge, skill and/or ability required.

Experience and/or Education

• High School diploma

• Bachelor’s degree in business related major preferred

• Minimum of five (5) years of collections experience

• Ability to operate a PC – experience with Windows, Microsoft Office, miscellaneous software applications (basic working knowledge)

Physical Demands & Work Environment

Ability to work in an office environment which may include many hours of computer and telephone usage. In addition, this position requires many hours of “outside” or non-office activities that will place the employee in a variety of private and public environments. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.