Collections Specialist I
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About The Position
The Collections Specialist I is responsible for managing an assigned portfolio of open or non-performing assets at M&T Bank. This role is crucial in mitigating loss situations and reducing potential losses to the bank. The position primarily involves making outbound calls to customers with past due accounts, utilizing an AutoDial system to initiate contact. The specialist will work closely with these customers to arrange payment alternatives that resolve delinquency, thereby reducing risk and maintaining positive customer relationships. In this role, the specialist will initiate contact with consumer borrowers who are in the early stages of delinquency. They will assess the likelihood of repayment and arrange repayment schedules or explore other solutions such as Loan Workouts, Alternative Lending options, Consumer Credit Counseling Services, Reages, or Extensions. It is essential for the specialist to document the outcomes of all calls accurately. Additionally, the specialist will accept inbound calls from various internal departments and customers, responding to inquiries regarding all consumer products at different stages of delinquency. They will also be responsible for identifying suspect situations, such as potential fraud or lack of insurance, and investigating these exposures. Any issues that require escalation will be brought to management along with recommendations for action. The role requires the use of internal collections and accounting systems for all loan types. The specialist must identify and resolve problematic account situations where appropriate, referring more complex issues to their supervisor. Adherence to compliance and operational risk controls is critical, as is maintaining M&T's internal control standards, including the timely implementation of audit points and addressing any issues raised by external regulators. The Collections Specialist I will also promote an environment that supports diversity and reflects the M&T Bank brand, completing other related duties as assigned. This position operates under direct supervision and does not have exclusive autonomy, nor the authority to waive late fees or offer settlements.
