Collection Specialist

HEBRON SAVINGS BANK•Hebron, MD

About The Position

The Collections Officer is responsible for coordinating delinquency management efforts between Loan Officers, Branch Managers, and Asset Management. This role focuses on managing intermediate-stage delinquencies, ensuring timely borrower communication, supporting early loss mitigation efforts, and facilitating the transition of severely delinquent credits to Asset Management.

Requirements

3–5 years of experience in banking, collections, credit or related field.
Knowledge of commercial and consumer loan structures, collateral, and credit fundamentals.
Strong analytical and problem-solving skills.
Effective verbal and written communication skills.
Sound judgment and decision-making ability.
Strong organizational and time management skills.
Ability to work both independently and collaboratively.
Proficient in Microsoft Office and core banking or loan management systems.
Working knowledge of applicable federal and state laws and regulations related to collections and consumer protection (including FCRA, SCRA, UDAAP, ECOA, and related requirements).

Responsibilities

Monitor delinquency reports daily and identify emerging risk trends across the loan portfolio.
Coordinate with Loan Officers and Branch Managers to ensure timely borrower outreach on accounts approaching 30 days past due, providing guidance on communication strategies, repayment options, and documentation expectations.
Lead collection efforts on loans generally 30–89 days past due, including borrower contact, negotiation of repayment arrangements within established guidelines, and preparation of collection letters, demand notices, and other communications in accordance with Bank policy and regulatory requirements.
Ensure all borrower interactions, collection activities, and repayment agreements are accurately documented in the Bank’s systems.
Review delinquent accounts and exercise judgment in recommending appropriate next actions, including repayment strategies and escalation based on defined risk triggers such as non-responsiveness, financial deterioration, or covenant violations.
Coordinate closely with Asset Management on deteriorating credits, including early intervention strategies and seamless transition of loans as needed.
Serve as the primary coordination point between Loan Officers, Branch Managers, and Asset Management to ensure consistent and timely execution of collection efforts across all stages of delinquency.
Exercise independent judgment in managing borrower relationships, developing repayment approaches within established guidelines, and determining when escalation or additional action is warranted.
Maintain a working knowledge of all applicable federal and state laws and regulations (including FCRA, SCRA, UDAAP, ECOA, and applicable state collection laws), ensuring compliance and the confidentiality and proper handling of customer information.
Support continuous improvement of collection processes, procedures, and communication practices to enhance efficiency and borrower outcomes.
Perform other related duties as assigned.