Asset Recovery Specialist - Harrisburg, PA

Mid Penn Bank•Harrisburg, PA

71d

About The Position

A great banking experience starts with a great team! To support our continued growth, Mid Penn Bank is actively seeking an Asset Recovery Specialist to join our team! We believe that our ongoing success depends upon a skilled, satisfied, and valued work force. As a member of our team, you can expect opportunities to develop your skills to help you excel in your role and achieve your professional career goals. We offer a comprehensive range of flexible benefits to support your personal and financial well-being. Our inclusive culture encourages all employees to share ideas, collaborate, and contribute to the values that make us a winning team for our customers, shareholders, and communities. Position Overview The Asset Recovery Specialist is responsible for performing collection and administrative duties that impact the asset recovery function. This individual will be responsible for achieving goals as established in the Asset Recovery Department's annual operating plan.

Requirements

A high school diploma or equivalent; specialized resource recovery training preferred.
A minimum of three (3) years' related experience normally required.
Proficient reading, writing, and grammar skills; proficient mathematics skills; proficient interpersonal relations and both verbal and written communicative skills; a thorough knowledge of regulations affecting the resource recovery function; ability to sit, stand, walk, bend, stoop, reach with hands or arms, use hands to manipulate objects, handle or feel, and lift items weighing 20 lbs. or less; visual, auditory and speaking skills; valid driver's license is required.

Responsibilities

Communicates with delinquent borrowers in attempting to obtain late payment, using various means of contact such as telephone, letters, emails, personal face to face meetings; utilizes effective human relations skills and various forms of persuasion to present a positive company image in a typically adverse situation.
Contributes to the soundness of the installment loan portfolio through prompt collection of delinquent accounts.
Utilizes methods of asset recovery under terms of the loan contract, depending on the feasibility and applicability of each case if initial recovery attempts do not secure required payment; extends due dates or refers customers to proper lending personnel for refinancing of delinquent loans; repossesses collateral on secured items if the delinquent situation requires such action.
Reviews company records and transactions to resolve misapplied payments, researching account transactions to ensure that payments are properly credited; evaluates payments (scheduled and unscheduled) being made on delinquent accounts and determines how the payment will be applied, i.e., principal, interest, escrow, and late charges, or if the payment is unacceptable.
Locates customers with whom the company has lost contact; tactfully, resourcefully, and within the Fair Debt Collection Guidelines, tries to probe for information leading to the location of the delinquent customer. Uses company provided data research services to locate customers.
Responds to inquiries relating to his/her particular area, or to requests from other company personnel, customers, etc., within given time frames and within established policy.
Actively seeks and engages in learning and development opportunities to ensure peak performance by completing and/or demonstrating the following:
Partners with manager to complete a written Individualized Development Plan that aligns with achieving current performance expectations and supporting potential career goals.
Applies newly learned knowledge and skills on the job.
Shares information with others that may benefit from his/her expertise.
Seeks coaching and feedback to ensure high performance.
Maintains control over delinquencies with respect to a satisfactory percentage of past-due accounts as defined in the department's plan.
Plays an active role in protecting the organization and its customers against fraud by incorporating risk awareness and prevention into daily responsibilities.
Notifies customer of his/her rights and amount due or any further obligations, if applicable.
Contributes to the company's growth and customer satisfaction by helping customers to resolve problems with their consumer loans.
Analyzes the borrower's financial situation and advises the borrower concerning possible options; recommends adjustment procedures to be followed or appropriate action to be taken.
Receives and reviews daily a computerized listing of all assigned delinquent loans or works daily from an assigned queue in designated software.
Coordinates the collections of past due accounts with Financial Center Managers, Loan Officers and Portfolio Managers.
Achieves goals assigned to the Asset Recovery Officer as part of the assigned department's annual operating plan.
Documents all collection actions taken, such as telephone conversations, alternative financial arrangements made, letters mailed, and so forth, within designated software platform.
Establishes and maintains records relating to delinquent loan accounts; updates delinquent account files with relevant documents supporting various legal and collection methods such as a foreclosure.
Proficient using Microsoft office products such as Microsoft Word and Microsoft Excel to create and maintain documentation, memos, and reports for use by management.
Maintains appropriate records and provides assigned reports.

Benefits

Mid Penn Bank offers a comprehensive benefits package to those who qualify. This includes medical plans with prescription drug coverage; flexible spending account, dental and vision insurance; life insurance; 401(k) program with employer match and employee stock purchase plan; paid time off, paid holidays; disability insurance coverage, parental leave; employee assistance program, and tuition reimbursement.
In addition, all employees are eligible to participate in mentorship programs, receive individualized development and career counseling, and participate in Mid Penn University courses and development programs.

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