Collections Specialist

Bluestone Bank • Raynham, MA

8d • Onsite

About The Position

The Collections Specialist maintains timeliness of consumer loan payments and manages collection efforts. This role involves aggregating data for reports, tracking loan modifications, overseeing DMI, resolving credit reporting disputes, monitoring bankruptcy notices, and assisting with consumer collection efforts. The specialist will also help report on past due real estate taxes, recommend charge-offs, prepare foreclosure documents, and reconcile General Ledger accounts and outsourced invoices.

Requirements

• High school Diploma or equivalent.
• Three or more years of experience working in banking, loan servicing, or collections.
• Excellent understanding of department policies and the loan systems used in daily operations.
• Excellent understanding of applicable consumer debt collection laws and policies.
• Self-starter, good at prioritizing, possesses strong customer service, and excellent communications skills.
• Established organizational and analytical skills.
• Good understanding of computer spreadsheets and word processing programs.

Nice To Haves

• Bank collections experience is strongly preferred.
• FIS, DMI, and Sageworks preferred.
• Strong understanding of financial institutions products and services with an emphasis in mortgage lending preferred.

Responsibilities

• Aggregates data from various sources to prepare monthly delinquency reports for department and credit committee.
• Prepares and updates residential & consumer Watch List reports monthly.
• Tracks and reports on residential & consumer loan modifications.
• Conducts regular oversight of DMI, including problem resolution; delinquency monitoring and assistance with third party vendor oversight.
• Generates monthly DMI oversight reports for management.
• Monitors and resolves consumer credit reporting disputes via the e-Oscar system.
• Monitors and reports on all Bankruptcy notices received.
• Follows Fair Debt Collection rules, and assists with managing consumer collection efforts that includes contacting past due customers via telephone and mail; explaining options to customers and recommending resolution when collection efforts fail.
• Assists with reporting on past due real estate taxes for consumer and commercial loans, utilizing data from tax service company.
• Recommends charge offs for approval at credit committee and processes charge offs, once approved.
• Prepares documents as needed for foreclosure and other advanced delinquency matters.
• Reconcile General Ledger accounts monthly.
• Monitor and reconcile the outsourced insurance & real estate tax tracking invoices monthly. This includes adding/deleting accounts for force-placed insurance.
• Performs additional duties as requested.

Benefits

• A competitive salary with performance-based incentives.
• Comprehensive medical with deductible reimbursement, dental, and vision coverage.
• An employer matching 401k plan.
• Training and professional development opportunities, including tuition reimbursement.
• Work life balance with paid time off, paid volunteer hours, and 11 paid holidays.

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Education Level: High school or GED