Collections Manager

Somerset Trust Company•Somerset, PA

30d

About The Position

This position is responsible for overseeing all activities and processes within the Collections Department while adhering to all Bank, legal and regulatory compliance standards. This role includes directly supervising the Collections Department staff, communicating with customers, and collaborating with management and other departments within the Bank as well as coordinating collection efforts with third parties, such as attorneys, real estate agents, etc.

Requirements

Bachelor's degree (B. A.) from four-year college or university; or two years related experience and/or training; or equivalent combination of education and experience.
A minimum of two (2) years of banking/collecting experience.
Working knowledge of Microsoft Office Products.
Familiarity with laws and regulations affecting the banking industry and collections.
Familiarity with bankruptcy laws, regulations and procedures.
Ability to read and interpret documents such as bank contracts, bank policies and procedures.
Ability to effectively present information to management.
Ability to communicate with customers and de-escalate a problem credit.
Ability to build relationships with co-workers
Possess strong negotiation skills
Legal writing and interpretation skills
Skilled in drafting legal documents for review.
Possess effective email and written correspondence skills
Ability to define problems, collect data, and draw a valid conclusion.
Ability to problem solve
Prolonger periods sitting at a desk and working on a computer.
Use of hands and fingers to operate office equipment, telephones, etc.; and talk or hear.
The employee is occasionally required to stand, walk, and reach with hands and arms.
The employee must occasionally lift and/or move up to 10 pounds.

Responsibilities

Develop, review, revise and implement any practices and/or procedures necessary to increase the effectiveness and efficiencies of the department.
Participate in any and all meetings as required.
Assist in any special projects and administrative duties, as assigned.
Prepare, present, and review any and all reports affecting collection activities.
Monitor and recognize trends of the performance of various types of loans.
Oversee the completion and submission of month end/quarterly reports to committees as assigned.
Prepares the agenda, exhibits, presentations, and scribing the minutes of committees as assigned.
Oversee compliance of all internal policies, procedures and practices as they relate to the Collections Department.
Maintain current knowledge of state and federal laws and regulations, along with internal policies governing collections.
Communicate with customers to resolve issues and negotiate resolutions and agreements that are acceptable to both the bank and the customer.
Assist the Fraud Department to investigate potential fraud losses/claims and to assist with the recovery of such funds.
Understand and train the Collections Department team on collection processes such as foreclosure, repossession and credit reporting.
Compile information necessary to make informed decisions on proceeding with collection efforts, and when to pause or stay collection efforts involving uncollectible debts.
Understand and support all BSA/AML responsibilities as applicable to the position as well as consistently, accurately, and timely carry out these responsibilities in compliance with the Bank's internal policies.
Performs other related duties as assigned.
Supervise the Collections Department team, including planning, assigning, directing and reviewing work.
Lead recruitment efforts, training new staff, coaching existing staff and disciplining employees within the Collections Department.
Conduct performance reviews, as necessary.