Collections Specialist

First Interstate•Billings, MT

7d•Onsite

About The Position

The Collections Specialist is responsible for the daily collection of payments on assigned delinquent accounts by reviewing documentation and system information, contacting customers by telephone and/or written correspondence, and arranging repayment schedules to minimize loss to the bank. This position may also perform additional duties, including processing changes in terms, negotiating settlements, providing training, and completing other tasks as assigned by management.

Requirements

Possesses computer skills, including proficiency in Microsoft Word, Excel, and Outlook.
Demonstrates initiative and sound judgment, with strong oral and written communication skills, including facilitation.
Ability to prioritize work and remain adaptable under pressure.
Possesses strong time management and organizational skills.
Ability to appropriately escalate issues requiring problem-solving and decision-making.
Ability to read and interpret documents such as safety rules, operating and maintenance instructions, and procedure manuals.
Ability to write routine reports and correspondence.
Ability to communicate effectively in front of groups of customers or employees.
Strong interpersonal skills with a team-oriented mindset.
Ability to meet deadlines.
Ability to resolve simple to complex issues with minimal supervision.
Ability to interpret a variety of instructions provided in written, oral, diagram, or schedule form.
Demonstrates an understanding of applicable federal regulations, policies, and procedures related to debt collection, as well as regulatory and/or investor requirements.
High School Diploma or General Education Degree (GED) required
1-3 years experience in collections and/or customer service activities preferred

Responsibilities

Works assigned queues to collect delinquent accounts through phone calls or written correspondence.
Negotiates payment arrangements with customers to bring accounts current.
Documents collection activity and maintains accurate records, notes, and comments within the collection system.
Generates delinquency and/or collection letters in accordance with established guidelines.
Collaborates with customers on repayment programs.
Responds to customer inquiries, requests, and issues in a timely manner.
Processes payments.
Performs skip tracing, as needed, to locate updated customer contact information.
Prepares and submits loan accounting system maintenance requests.
Prepares and submits change-in-terms requests.
Works closely with investors and/or insurers to resolve delinquencies, as necessary (mortgage).
Handles NSF checks and other returned payments.
Performs insurance claim processes (e.g., letters of guarantee, reamortization) and may assist customers with filing GAP claims.
Stays current on investor, insurer, and regulatory policy changes.
Maintains delinquency ratios in accordance with established goals.
Establishes and monitors hardship agreements, as needed.
Provides cross-training and training on processes and procedures for new employees.
Performs other duties as assigned or required.