Workout & Collections Representative

Description

Position Overview:

As part of the Workout team, the representative will reduce the bank’s exposure to loss in consumer/residential loans, commercial loans and OREO properties. Coordinates and executes action plans and provides liaison between management, loan officers, collection personnel and loan operations and borrowers. 

Primary Responsibilities:

Performs any functions necessary, within scope of authority and expertise, to provide the highest level of service and responsiveness to customers:

• Directly or in conjunction with the Workout Manager, manage delinquent and classified loans by borrower and third-party contact to: 
• Review, analyze, and correct any structural or documentation deficiencies
• Facilitate collection of PMI, Forced Place insurance claims and real estate tax delinquencies 
• Execute FNMA collection and modification procedures
• Create and/or maintain files for consumer/residential and commercial loan workout customers
• Reviews delinquency reports and makes collection calls where needed and as directed by the Workout Manager
• Work with loan officers to track reason for delinquency
• Identify items that can be offset with deposit accounts
• Generates personalized form letters and mails letters to customers who cannot be contacted directly by the collector.
• Reviews delinquency reports and sends the necessary counseling letters to those customers who are in default.
• Works closely with borrowers who are unable to meet loan payments to determine appropriate solutions to address the problem. Propose and/or implement solutions with management approval
• Identify all delinquent GSE loans and ensure that collection activities follow the prescribed guidelines as defined by the appropriate GSE (FNMA, etc.) Document collection activities according to guidelines.
• Process skip payment requests from borrowers who may need brief payment relief, following through from initial request to finalization and execution of the request by Loan Operations.
• Research and document loan payment history requests and all aspects of a loan as necessary
• Tracks through and resolves any disputes in payments to the satisfaction of the customer and the bank
• Track bankruptcy filings
• Files any correspondence in the particular loan file folders.
• Review non-accrual report and update loan statuses when needed and as directed by the Workout Manager
• Assist in preparation of demand letters as directed by the Workout Manager
• Assist in preparations of foreclosure packages 
• Prepare charge-off approval forms as directed by the Workout Manager
• Assists in preparation of Small Claims notices
• Assists with tracking and logging recovery payments
• Assistance in management Other Real Estate Owed (OREO) properties owned by the Bank or its affiliate including:
• Create and maintain OREO files
• Coordinate payment and tracking of OREO bills
• Interaction with attorneys and other consultants/vendors as needed to minimize loss/maximize recovery on loans and OREO
• Coordinate with the bank’s operations departments to implement agreed upon plans.
• Attends appropriate seminars to increase knowledge of collections and the laws that relate to collections.

Other Responsibilities:

Perform related and unrelated duties as may be required.

Requirements

Qualifications:

• High School Diploma or equivalent plus three years of banking experience in a financial institution.
• Ability and willingness to contact customers on a “cold-call” basis.
• Thorough knowledge of the bank’s loan products.
• Thorough knowledge of the state and federal regulations governing collections processes, specifically the Fair Debt Collections Practices Act under the FTC and the separate Commonwealth of Massachusetts provisions of the Fair Debt Collections Practices Act.
• Ability to communicate effectively, both orally and in writing.
• Ability to communicate tactfully with customers who may be in stressful situations and who may not want to respond to the bank’s legitimate need to contact them.
• Some flexibility with the work week and the ability to work some Saturdays.
• The ability to work independently in a deadline driven environment.
• Submit, track and log all department invoices to AvidXchange 
• Identify OREO expenses versus workout expenses
• Attach appropriate workout expenses to the associated loan in FIS
• Computing proficiency including MS Word, Excel, Outlook; FIS or other bank core processing systems.

Avidia Bank is an Equal Opportunity Employer/Veterans/Disabled

Member FDIC/DIF

PM21

Salary : $20 - $24