Associate, Collections

Webster Bank•Southington, CT

About The Position

Webster, founded in 1935, is a leading commercial bank dedicated to putting people first and helping individuals, families, businesses, and colleagues achieve their financial goals. The company operates with values of Integrity, Collaboration, Accountability, Agility, Respect, and Excellence. This role offers opportunities for career expansion, robust development, and meaningful work. The incumbent will possess well-developed knowledge, skills, and techniques for collecting past due Residential and Consumer loan products. They will work collaboratively with peers and supervisors to successfully reduce early stage delinquency (0-89 days). Responsibilities include conducting non-automated calling and letter campaigns for assigned delinquency levels, and may also involve preparing litigation referral packages and multi-state default preparation.

Requirements

Excellent verbal communication skills
Candidates with some combination of coursework and experience, or extensive related professional experience, are eligible for consideration.

Nice To Haves

Candidates with prior knowledge of the bank’s core lending systems [MSP,, Signature, Salesforce etc.] preferred
Knowledge of Investor and Insurer Default Servicing Guidelines preferred.
Candidates with advanced degrees (Associates, Bachelor's, and/or Master's) preferred.
Experience in direct collection of residential, consumer and business loan debt in a banking environment preferred.

Responsibilities

Ensure that collection efforts are entered into the servicing system of record in the form of clear and complete case notes at the loan account level
Work assigned call queues and call campaign lists to timely completion, using verbal and written communication channels to secure promise of payments, satisfactory arrangements to cure the delinquency and prevent the further ageing
Communicate in a professional, ethical and empathetic manner to resolve the delinquency
Seek Quality Right Party (QRPC) during any established contact with the Borrower
Discuss the financial difficulties causing the delinquency
Determine (1) Reason for Default (RFD), (2) whether their hardship is temporary or permanent, (3) property occupancy status, (4) Ability to repay the Delinquency
In each QRPC, achieve one or more of the following outcomes: Collect past due payments Accept a Promise to Pay or short- term Repayment plan Discuss or recommend alternate options for resolving the Delinquency through Loss Mitigation as defined in Job Aid 1003.1.4, Collections Chart for Loss Mitigation discussions.
Institute skip tracing efforts as needed and maintain accurate, complete records of same
Handle the mailing of automated written Collection communications to the borrowers as assigned, including one or more of the following: Mild, Medium and Strong letters, EIL letters, 60 Day Letters ensuring prompt and accuracy of the communication.
Prepare and mail periodic non automated Collection communications to the borrowers as assigned, including one or more of the following: 45 Day letters packages, State specific Default letters ensuring prompt and accuracy of the communication.
Handle payment reversals related to drafts and checks returned NSF
Support the preparation of documents for Litigation Referral packages and advance calling and skip tracing efforts