Loan Workout Specialist (Part-Time)

Community Financial Services Bank•Benton, KY

About The Position

This is a part-time role focused on managing delinquent client accounts. The specialist will establish and maintain contact with clients, assess their financial situations, and recommend appropriate workout solutions to minimize losses. This role requires accurate documentation, compliance with regulations, and building relationships with dealer partners.

Requirements

Accurate customer contact information maintenance.
Ability to assess client financial situations.
Proficiency in documenting collection activities within the JHA Collection System.
Knowledge of collection, repossession, and regulatory requirements.
Ability to build and maintain positive working relationships with dealer partners.
Experience preparing and distributing account status and delinquency reports.
Ability to process contract reassignments and execute collateral documentation.
Experience preparing and sending Letters of Guarantee.
Skill in negotiating and administering repayment arrangements for charged-off accounts.
Ability to refer charged-off accounts to external collection agencies.
Completion of assigned tasks, training programs, and continuing education within deadlines.
Adherence to all CFSB policies, procedures, regulatory requirements, and performance standards.

Responsibilities

Establish and maintain weekly contact with delinquent clients through telephone, written correspondence, and other approved communication channels.
Maintain accurate customer contact information, including phone numbers, addresses, emails and other relevant details.
Contact clients during the early stages of delinquency (approximately 10-30 days past due) and assist with payment processing, recurring payment setup, and alternative payment arrangements.
Assess client financial situations and identify appropriate escalation opportunities when long-term or permanent hardships are present.
Evaluate borrower financial circumstances and recommend appropriate workout solutions, including loan modifications, extensions, deferments, repayment plans, settlements, and other loss mitigation alternatives.
Accurately document all collection activities, client interactions, and account updates within the JHA Collection System.
Prepare and send all required regulatory notices and correspondence in compliance with applicable state and federal laws.
Develop and maintain knowledge of collection, repossession, and regulatory requirements applicable to assigned responsibilities.
Build and maintain positive working relationships with dealer partners through regular communication and responsive support.
Prepare and distribute weekly account status and delinquency reports to dealers & communicate any collection efforts since the previous week.
Process contract reassignments to dealers and execute related collateral documentation.
Prepare and send Letters of Guarantee to insurance companies as required.
Minimize losses on charged-off deposit accounts by negotiating and administering repayment arrangements with clients.
Refer charged-off deposit accounts to external collection agencies when appropriate and in accordance with established procedures and communicate any payments made directly to CFSB.
Complete all assigned tasks, training programs, and continuing education requirements within established deadlines.
Adhere to all CFSB policies, procedures, regulatory requirements, and performance standards.
Perform additional duties and responsibilities as assigned by the Team Leader.