Consumer Collections Specialist

Five Star Bank•Rochester, NY

1d•$18 - $22•Onsite

About The Position

The Consumer Collection Adjuster 1 is responsible for managing delinquency to acceptable levels in accordance with established Department goals and objectives. Must strictly adhere to all Bank policies and procedures, in addition to all State and Federal mandates and requirements. This position will work with borrowers in providing financial counseling and to implement structured repayment plans to bring the borrower’s loan status to current and to encourage a future banking relationship.

Requirements

High School Diploma or equivalent
2+ years of experience in Collection, Banking, Customer Service, Call Center, Sales, Auto Financing, Collection Agency, Law Firm, or Credit Union
Strong verbal and written communication skills
Demonstrated customer service skills
Basic knowledge of the collection function
Working knowledge of Microsoft Office, Windows operating system, and Excel applications with the ability to learn new and existing Banking software
Analytical ability to interpret data and make sound decisions and logical recommendations
Excellent negotiation skills with the ability to overcome objections
Strong organizational skills
Ability to work in a fast-paced, high volume environment with specific measurement performance goals
Follow through, accountability, integrity, empathy, accuracy, attention to detail, and problem-solving skills

Nice To Haves

Associate Degree in business or related field
2+ years of Collection, Banking, Customer Service, Call Center, Sales, Auto Financing, Collection Agency, Law Firm, Credit Union

Responsibilities

Contact delinquent borrowers to arrange for timely repayment via telephone, letters, and approved e-mails, with a measurable goal of an average of 135 calls per day.
Obtain and verify updated borrower information using skip tracing tools, social media, references, and third parties. Document all borrower interactions and conversations clearly and concisely, disclosing all collection activity.
Ensure strict adherence to regulations governing collection activity such as FDCPA, SCRA, Privacy, Fair Lending, and Identity Theft to avoid sanctions, fines, and penalties.
Resolve delinquency, NSF items, and returned electronic payments to reduce delinquency and avoid losses. Create repayment/workout plans that are reasonable for both the borrower and the Bank. Daily review of delinquent queues to identify potential problems, secure immediate repayment, and schedule future payments, with a measurable goal of acquiring 200-250 electronic payments per month.
Define problems, collect data, establish facts, and promptly respond to all inquiries. Research borrower inquiries, resolve payment posting issues, and provide loan history information. Collaborate with peers across the Bank, including Branches, Loan Servicing, and Banking Center teams, to ensure the best possible borrower experience.
Educate borrowers on the resolution process, providing assistance and alternatives, and detailing eligibility for relief options such as extensions/deferments, government relief programs, charitable organizations, and debt counseling agencies.
Provide assistance to ensure accurate borrower information and records by processing Change of Address Forms, Extension/Deferment Forms, Due Date Change Requests, Authorization for Preauthorized Payments, and Repossession Request Forms.
Identify potential loss situations by securing pertinent borrower information, analyzing financial data, and determining the probability of timely repayment (income vs. debt). Proactively alert management to possible fraud situations and formulate plans with management approval.
Perform all tasks and responsibilities in partnership with peers, management, Loan Servicing, and Call Center teams, valuing teamwork to consistently deliver superior service.
Demonstrate the standards and principles of the Five Star Bank experience in every interaction, incorporating high-performance behaviors of teamwork, leading by example, and service.
Perform other duties as assigned.