Collector/Loss Mitigations

GenoaBank•Genoa, OH

7h•Onsite

About The Position

Responsible for managing and collecting delinquent consumer, mortgage, and credit card accounts, contacting customers regarding past-due balances, and working with borrowers to secure payment arrangements that reduce loss exposure while preserving customer relationships. May handle some commercial collections as well. This role supports the bank’s asset quality goals and assists in the bank’s recovery efforts by following collection policies, documenting account activity accurately, and ensuring all collection efforts comply with applicable laws, regulations, and internal procedures. Also responsible for general administrative tasks including those associated with processing bankruptcies, foreclosures, etc.

Requirements

Minimum of high school diploma or equivalent
2-3 years of collections, banking, customer, services, or related financial services experience preferred
knowledge of consumer lending, payment processing, delinquency management, and account documentation practices preferred
understanding of applicable collection laws and regulations, including consumer protection and fair debt collection requirements, preferred
Ability to handle difficult conversations professionally, maintain confidentiality, and exercise sound judgement
proficient computer skills including Microsoft Excel and Word and the ability to learn core banking and collection systems
strong verbal and written communication skills, negotiation skills, and attention to detail
analytical ability to review account information and identify appropriate collection strategies

Nice To Haves

Associate degree or higher in business, finance, or related area preferred

Responsibilities

Contacts customers by phone, mail, and other approved methods to discuss past due balances and requests payment.
Adheres to all departmental collection guidelines and procedures, as well as documents the system with all collection efforts.
Negotiates payment arrangements within established authority limits and follows up to ensure commitments are honored.
Coordinates with branch staff, lenders, and other internal departments to resolve account issues and support collection efforts and correct payment postings.
Schedules face-to-face interviews with customers as necessary.
Communicates regularly with management regarding progress and problem accounts.
Refers collection accounts to legal and monitors the legal process.
Initiates repossession efforts and protects/inspects collateral.
Ensures repossessed units are sold at auction or private sale.
Identifies accounts that require escalation, repossession, legal review, charge-off consideration, or outside collection placement.
Collaborates with loan officers and/or pertinent personnel regarding collection efforts.
Maintains bank’s collateral position.
Refers accounts to legal and monitors the process.
Responsible for keeping management informed.
Assists management with the credit reporting function to the various credit reporting agencies.
Assists management in the preparation of delinquency reports and other pertinent departmental reporting requirements.
Responsible for the administrative tasks associated with processing bankruptcies, bankruptcy reaffirmations, the initiation of legal processes, foreclosures, etc.
Document all borrower conversations, payment promises, disputes, and collection actions in the bank’s systems.
May assist management with bankruptcy matters as needed.
Maintains compliance and required compliance training with all banking laws, acts, regulations and bank policies and procedures.
Any other duties and/or projects as assigned by management.