Collections Specialist III

M&T Bank•Millsboro, DE

1d•Onsite

About The Position

This position manages complex accounts with specializations in Foreclosure, Bankruptcy, REO/Property Preservation, Repossession, Remarketing, Legal Liaison or Post Charge Off Collections. The role operates under general supervision and has autonomy when performing skip-trace, including the authority to waive late fees within guidelines. M&T Bank Corporation is a financial holding company headquartered in Buffalo, New York. Its affiliates provide advice, guidance, expertise, and solutions across the financial spectrum, combining M&T Bank’s traditional banking services with the wealth management and institutional capabilities offered by Wilmington Trust. M&T Bank operates a network of over 1,000 branches and 2,200 ATMs across 12 states from Maine to Virginia and Washington, D.C. For more than 165 years, M&T has been committed to active community involvement and building long-lasting customer relationships, aiming to be a bank for communities that combines the capabilities of a large bank with the care of a locally focused institution. The company's core values include integrity, ownership, collaboration, curiosity, and candor.

Requirements

A combined minimum of 3 years’ higher education and/or work experience including a minimum of 1 year experience in customer service, customer-facing, collections, call center or sales.
Experience with word processing, spreadsheet and presentation software.
Detail oriented.
Strong verbal and written communication skills.

Nice To Haves

Knowledge of M&T Bank systems.

Responsibilities

Initiate contact with consumer borrowers that are in the mid to late stages of delinquency; assess the prospect of repayment, and arranging repayment schedules or other solutions such as: Loan Workout, Alternative Lending, Consumer Credit Counseling Services, Reages, or Extensions.
Initiate contact with customers’ attorneys and Bankruptcy trustees.
Investigate and conduct skip tracing as required.
Submit recommendations for account placement with third party collection agencies, attorneys, brokers, and property preservation firms.
Initiate direct contact with borrowers (consumer, mortgage, deposit overdraft, business banking), assessing the prospect of repayment, arranging repayment schedules or other solutions.
Contact business partners and vendors to ensure services provided are meeting predetermined service level agreements.
Participate in loss prevention by employing advanced strategies that provide adequate protection for M&T with respect to its interest in the collateral securing the loan, while maximizing the cost containment opportunities.
Review collateral condition and establish asset value.
Negotiate sale with prospective buyers and conclude sales transaction with limited oversight.
Develop an understanding of the business and its functions, processes and operations.
Keep abreast of business and market trends that may affect business department.
Adhere to applicable compliance/operational risk controls in accordance with Company or regulatory standards and policies.
Maintain M&T internal control standards, including timely implementation of internal and external audit points together with any issues raised by external regulators as applicable.
Promote an environment that supports belonging and reflects the M&T Bank brand.
Complete other related duties as assigned.