Recovery Resolution Specialist

First Citizens Bank • Raleigh, NC

8d

About The Position

This position collects retail and business loans that have been placed in charge-off status. Focuses on mitigating Bank losses through the collection, negotiation, and repayment of loans after charge-off. Works closely with borrowers, management, and attorneys to create action plans for delinquent loans, coordinating settlements or liquidation of assets as necessary.

Requirements

• Bachelor's Degree - OR - High School Diploma or GED and 4 years of experience in Banking or Finance Collections
• Excellent written and verbal communication skills
• Ability to negotiate
• Collections experience
• Intermediate skip-tracing experience
• Knowledge of the Fair Debt Collection Practices Act (FDCPA), Fair Credit Reporting Act (FCRA), Unfair, Deceptive, or Abusive Acts or Practices (UDAAP), and the Telephone Consumer Protection Act (TCPA)

Nice To Haves

• Charge off consumer debt collection experience
• Collections portfolio management experience
• Attorney vendor/third-party counsel management
• Large Financial Institution/Banking industry experience

Responsibilities

• Collection - Coordinates loan portfolio collection efforts whether that be a repayment plan, settlement, or liquidation of collateral. Documents efforts and conversations in the event legal action is necessary. Engages and manages third party companies that collect on charged-off loans.
• Negotiation - Assists in the negotiation of new terms for borrower repayment. Works closely with borrowers or their attorneys on settlements, short sales, or deed in lieu of foreclosure to satisfy loan payments.
• Research - Determines borrowers' ability to pay prior to formulating a plan for collection. Reviews personal statements including tax returns and credit reports, and initiates contact with borrower to gather information on financial position.
• Legal Action - Assigns cases to attorneys when filing suits to obtain judgement or execute against an existing judgement on a borrower. Reviews documents provided by Bank or borrower's attorney to confirm accuracy and ability to file suit.

Benefits

• Benefits are an integral part of total rewards and First Citizens Bank is committed to providing a competitive, thoughtfully designed and quality benefits program to meet the needs of our associates. More information can be found at https://jobs.firstcitizens.com/benefits.

What This Job Offers

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