Retail Recovery Specialist I-IV

Washington Trust Bank•Spokane, WA

3h•$21 - $40•Hybrid

About The Position

The Retail Recovery Specialist is responsible for protecting Washington Trust Bank assets through the management of delinquent, adversely rated, and charged-off consumer loan and deposit account relationships. This position develops and implements collection, recovery, loss mitigation, workout, foreclosure, bankrupt, and legal recovery strategies designed to minimize losses, maximize recoveries, preserve collateral value, and mitigate risk while maintaining compliance with applicable laws, regulations, and Bank policies. The role requires analytical, negotiation, problem-solving, and decision-making skills to evaluate borrower circumstances, develop effective recovery strategies, administer recovery processes, and balance customer resolution opportunities with the Bank's financial interests. Retail Recovery Specialists work collaboratively with borrowers, attorneys, trustees, courts, vendors, debt relief agencies, and internal business partners to achieve effective resolutions while reducing risk exposure and protecting profitability.

Requirements

Ability to analyze information and work with detailed documentation.
Strong communication and problem-solving skills.
Ability to work independently, manage priorities, and exercise sound judgment.
Ability to collaborate professionally with customers and internal business partners.
Banking experience is a plus.

Responsibilities

Manage delinquent, adversely rated, and charged-off consumer loan and deposit account relationships through all stages of collections, recovery, bankruptcy, foreclosure, litigation, loss mitigation, collateral recovery, and asset disposition.
Analyze borrower financial circumstances, collateral positions, repayment capacity, and recovery opportunities to develop, negotiate, and implement effective collection, workout, restructuring, settlement, and loss mitigation strategies designed to minimize losses, maximize recoveries, and preserve Bank assets.
Administer and coordinate bankruptcy, foreclosure, repossession, judgment enforcement, legal collection, and recovery activities while working with attorneys, trustees, courts, debt relief agencies, vendors, and other third parties to protect the Bank's interests.
Evaluate collateral values, appraisals, broker price opinions, title issues, and asset disposition alternatives to support recovery decisions, collateral liquidation strategies, risk mitigation efforts, and loss recovery objectives.
Exercise sound judgment and independent decision-making authority when evaluating recovery alternatives, legal remedies, risk exposure, and strategic account resolution options while balancing regulatory requirements, operational efficiency, customer relationships, and the Bank's financial interests.
Maintain complete, accurate, and timely documentation of collection activities, negotiations, legal actions, recovery efforts, account analyses, and decision-making rationale in accordance with audit, compliance, and regulatory standards.
Identify and mitigate operational, legal, financial, credit, and reputational risks through proactive management of distressed lending relationships and timely escalation of significant issues.
Collaborate with lending, credit, legal, risk, operations, and executive stakeholders to support portfolio quality, recovery performance, asset protection, compliance, and organizational objectives.
Participate in department initiatives, process improvement efforts, training activities, and special projects that enhance operational effectiveness, regulatory compliance, portfolio performance, and customer outcomes.
Assists with Bank-owned real estate (REO) assets acquired through foreclosure, including oversight of property expenses, utility accounts, maintenance services, vendor invoices, and activities necessary to preserve and maximize property value through disposition.