Collections Analyst

St. Mary's Bank•Manchester, NH

2d•Onsite

About The Position

Under the direction of the Collections Supervisor, the Collections Analyst is responsible for the consistent and effective management of OPO, OREO, Charge offs and Recoveries. Additionally, this role is responsible for accurately completing GL Reconciliations and monthly reporting, bankruptcy coding and reporting and delinquency reporting. A primary function of this role is to be able to analyze, assess, and recommend actions related to the delinquency trend analysis of accounts. The Collections Analyst also encompasses more complex collections functions that carry high risk to include but not limited to: testing and recommending system enhancements, communicating with 3rd party vendors and attorneys.

Requirements

High School Diploma with at least seven years of previous experience and exposure in high volume/paced collection/recovery environment involving loan and banking products, with the focus on understanding overall Collections operations.
Successful and proven performance of the Collections Specialist I and II functions with ability to consistently achieve goals within those roles.
Knowledge of Fair Debt Collection Practices Act, Fair Credit Reporting Act, Bankruptcy regulations, and understanding of State Laws and Collections Practices
Experience managing OPO, OREO and other products involving recovery efforts.
Firm understanding of forecasting methods for predicting loan losses.
Proven critical thinking skills, using logic to solve complex situations and leveraging industry knowledge to complete assigned tasks
In addition to Microsoft Office, proficiency in Tableau Reporting, with the ability to leverage technology to enhance workflow efficiency and support forward-thinking process improvements.
Highly skilled in prioritizing and managing daily workloads while consistently maintaining strong attention to detail
Able to work with various third-party vendors to complete Collections functions.

Nice To Haves

Clear and effective communication skills, both written and verbal.
Ability to analyze data, identify trends, and make data-driven decisions to improve recovery performance.
Creative problem-solving abilities to develop effective recovery strategies and address challenges.
High level of accuracy and attention to detail in managing charge off and recovery processes.
Skilled in negotiating settlements with delinquent members and third-party collection agencies.
In-depth understanding of regulations and compliance requirements related to debt collection and recovery
Proficiency in Microsoft Office Suite (Word, Excel, PowerPoint, Outlook, Teams) and in using recovery management software and other relevant tools.

Responsibilities

In the absence of the supervisor, the Collections Analyst will be responsible to document department performance for compliance, call efforts, and file notation as requested by leadership.
Notate all accounts with accurate and appropriate detail to allow handoffs to other team members where required, while allowing for consistent compliance and positive member experience.
Manage OPO/OREO including but not limited to determining values, tracking current inventory, updating notes to be reviewed by BOD, balancing reports to the GL/DDA.
Prepare and maintain detailed documentation of recovery activities, including documentation of collateral locations, condition, and recovery process.
Effectively communicates and utilizes third party resources (i.e., Attorneys, 3rd party collection agencies, small claims court, dealers, repossession agents and auction houses, etc.)
Submit, follow up, and manage accounts approved for repossession to agents under the directive of management
Submit, receive, and manage all skip claims and damage claims with VSI vendor.
Resolve internal events/tickets as assigned and complete outgoing events/tickets with details and complete information.
Send letters and track payment for cancellation of ancillary products.
Ability to negotiate with debt management companies while escalating settlements in accordance with internal procedures. When settlements are accepted, ensure loans are properly coded for credit reporting.