Collector II

East Cambridge Savings Bank • Cambridge, MA

10d • $27 - $39

About The Position

East Cambridge Savings Bank’s Lending Division is actively recruiting for a Collector II.

Salary Range:               $26.63 - $38.57

Actual compensation for this role is commensurate with experience, skill set, and other qualifications.

Function:

Under the direction of the Loan Servicing Manager, perform a variety of administrative tasks in connection with the collection, resolution and reporting of delinquent loans and overdrafts.

We are looking for a candidate with:

Minimum 3 years collections experience, preferably within a Retail Banking environment
Bachelor’s Degree or related knowledge/skills gained through experience 
Ability to work productively with minimal supervision
Working knowledge of rules and regulations governing collection activities
Excellent verbal and written communication skills
Excellent analytical and organizational skills
Ability to use tact and discretion when dealing with Bank customers
Working knowledge of MS word and excel, experience with COCC a plus 

Requirements

• Minimum 3 years collections experience, preferably within a Retail Banking environment
• Bachelor’s Degree or related knowledge/skills gained through experience
• Ability to work productively with minimal supervision
• Working knowledge of rules and regulations governing collection activities
• Excellent verbal and written communication skills
• Excellent analytical and organizational skills
• Ability to use tact and discretion when dealing with Bank customers
• Working knowledge of MS word and excel, experience with COCC a plus

Responsibilities

• Review loan files at first delinquency for insight to reason for delinquencies.  Maintain delinquency files, documentation of all contacts, and attempted contacts made to the customer.  Request and compile updated credit reports, financial statements, etc. for review.
• Contact delinquent customers by telephone and/or letter as instructed by Loan Servicing Manager in accordance with Credit/Collections policies and practices. Respond to customers’ questions and inquiries.  Bring delinquent accounts to resolution while providing excellent customer service and maintaining customer confidentiality.
• Prepare collection correspondence; arrange payment schedules with borrowers, subject to approval by Loan Servicing Manager. Track calls and letters for customer response and/or next required action.   Ensure payments are properly credited or applied to customer accounts.
• Monitor and review seriously delinquent accounts and if warranted recommend to management foreclosure action, repossession, charge off or legal action. Work with attorneys and collection agencies as needed reporting updates to management on a regular basis.  Determine sale of collateral by repossessor within scope of authority.  Report loans to credit bureaus as necessary.  Complete verification of loan requests for other lending institutions. 
• Prepare monthly and quarterly delinquency, recommended charge off and recovery reports for Executive Committee, management and regulatory agencies. Assist in the preparation of other related reports as needed.
• Upon Board approval, process charge offs as required.   Prepare and package all documents and files for attorney to begin legal action.  Compile figures for attorney to begin deficiency suits. Apply credit, monitor and track recovery payments through attorneys' offices.
• Maintain a good understanding of Federal and State regulations as they pertain to the collection of past due payments including laws pertaining to bankruptcy.
• Responsible for reviewing COCC system on a regular basis to determine any potential posting errors and ensure corrections are made if needed.
• Assists with loan payoff and discharge of mortgage functions.

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level