Special Assets Loss Mitigation & Recovery Specialist

EagleBank•Bethesda, MD

1d•$31 - $48•Hybrid

About The Position

The Special Assets Loss Mitigation & Recovery Specialist focuses on providing solutions to customer credit assistance needs. Responsible for the administration of the collection process and for tracking all of the collection efforts.

Requirements

Bachelor’s degree; will consider additional 4 years of experience in lieu of degree.
5 years of experience in special assets, small business or consumer lending with an emphasis on understanding and interpreting loan documents.
Proficient in Outlook, Excel and browser based tools and data entry
Excellent organizational skills
Good oral and written communication and listening skills; patience
Possesses solid consumer and regulatory debt collections knowledge – knowledge of fair lending policies; do’s and don’t’s of consumer debt collections practices outlined in the Fair Debt Collection Practices Act (FDCPA) and other laws governing debt collection practices
Stress management skills
Problem-solving skills

Nice To Haves

Debt collection in a financial institution

Responsibilities

Work closely with the Special Assets Group and Commercial Lending RM’s in the administration and tracking of collection efforts.
Monitor the bank’s Past Due Reports to identify overdue accounts and contact the customer to attempt to either collect the overdue amount or negotiate a payment plan to collect it in installments.
Perform outreach to delinquent or high-risk customers to secure payment and determine reason for delinquency on active or inactive loan, deposit and/or credit card accounts.
Contacts customers with overdue accounts and attempt to Use credit bureau data, post office information, internet searches and other tools to try to locate customers who have moved or changed phone numbers.
Work with the Special Assets Group and Commercial Lenders to administer the process of creating, sending out and tracking default/demand, acceleration letters and setoff letters as appropriate; may draft letters as well in coordination with team.
Walk-through approved repayment options with customers to set up repayment programs.
Demonstrate empathy for the client’s situation using ethical behavior that is consistent with the bank’s code of conduct and work with customer in a positive and professional manner to establish full balance repayment plans or settlements.
Provide consumer credit assistance, including submission of extension requests and other recovery activities.
Assist customers in order to billing problems and research.
Disclose all relevant account information to customers accurately, professionally, and in a positive manner.
Collect research for more complex billing problems and inquiries and work with your manager or the assigned lender to resolve.
Document all collection efforts in the system of record for each assigned account in accordance with established policies, procedures, and guidelines, which may include relevant system codes.
Submit regular reports on the status of unpaid accounts and any repayment progress.