Asset Recovery Officer

City National Bank of Florida•Miami, FL

About The Position

The Asset Receovery Officer III supervises the collection of all past due residential, consumer and small business banking loans and of overdrafts >$1,000. Initiates and processes residential loan Foreclosures insuring adherence to Bank Policies and Procedures and Regulatory Guidelines. Works independently with minimal supervision.

Requirements

8-10 years experience in collection of consumer and residential loans.
Credit Analysis skills.
Knowledge of loan accounting.
Understanding of loan workout liquidation policies and procedures.
Self-starter with good negotiation and communication skills both verbal and in writing.
Thorough knowledge of loan documentation and other legal documents.
Knowledge of legal and bankruptcy concepts required.
Accurate typing/keyboarding skills; basic computer skills, including the use of word processing, spreadsheet software applications, and e-mail.

Nice To Haves

Paralegal certification preferred.

Responsibilities

Keeps track of all delinquencies in the designated portfolios, and oversees the daily production goals of the Collector(s).
Analyzes loans for the most effective method for maximizing financial recovery.
Negotiates with debtors to secure appropriate workout arrangements.
Implements repayment plans and monitors compliance with repayment terms.
Inspects, evaluates, protects, and disposes of collateral.
Recommends matters to be referred to legal counsel or repossession.
Provides supporting documentation and information to initiate such action.
Monitors litigation.
Responds to and signs off on requests for production, interrogatories and affidavits.
Supervises the Serviced by Others portfolio providing appropriate oversight over collections, foreclosures and the disposition of OREOs.
Pursues post-judgment collection.
Skip traces and researches courthouse records.
Maintains department files and charge/off recovery records.
Prepares all department reports.
Maintains judgment records and rerecords judgments per Florida Statute.
Under direction of Asset Recovery Manager, provides advice and assistance to lending personnel regarding expedient identification and evaluation of deteriorating loan situations in order to recognize problem loans early and minimize losses.
Recommends loans for charge-off or non-accrual.
Directs loan operations on processing payments.
Supervises the preparation of the 1099 A and C IRS filings and insures accurate recordkeeping in order to remain compliance with IRS regulations.
May supervise other Asset Recovery employees.
Maintains the Online Collection System which tracks the activity in following up on delinquent debtors.