Collections Specialist - Commercial, Consumer, and Residential Lending

About Bank CMG

Bank CMG is a community-focused bank that combines advanced banking technology and products with a personalized hometown service approach. The bank provides solutions for both personal and business banking needs through experienced, friendly, and local staff. With local decision-making and in-house loan underwriting, customers work directly with bankers rather than call centers, ensuring responsive service during and after loan origination. Bank CMG is deeply invested in the communities it serves, supporting neighbors, families, and local businesses through responsible lending. The bank is a Member FDIC and an Equal Housing Lender, reflecting its commitment to compliance and fair lending practices.

Job Overview

The Collections Specialist is responsible for managing and collecting delinquent loans (across all asset classes including residential, consumer, and commercial) without impacting the positive relationships with bank customers. This position works directly with borrowers to address and resolve past-due accounts, establish payment arrangements, and minimize losses consistent with all applicable bank policies, consumer protection laws, and regulations. This position requires significant experience, and a strong understanding of all aspects of executing problem loan collection and workout strategies.

Essential Duties

• Monitor and manage collection process for delinquent loan accounts.
• Contact customers directly by phone with follow up via written correspondence regarding past-due payments consistent with loan documentation and applicable laws and regulations.
• Evaluate borrower payment issues and root cause then develop, and implement, effective repayment terms. Prepare and maintain complete and accurate documentation of all collection activities, customer communications, and payment arrangements.
• Review loan information and account history to determine appropriate collection actions.
• Coordinate and collaborate with loan officers, retail team, and management on delinquent accounts during collection process.
• Develop and execute collection strategies designed to maximize repayment and minimize loss to the bank.
• Recommend accounts for further collection activity, legal action, repossession, or foreclosure, as appropriate.
• Maintain confidentiality of customer and bank information.
• Follow all bank policies, procedures, regulatory requirements, and applicable fair lending and collection laws.
• Provide professional and courteous customer service while effectively pursuing payment resolution.

Secondary Duties

• The position of Collections Specialist performs duties specific to the position and other functions as assigned.

Minimum Requirements

These specifications are general guidelines based on the minimum experience normally considered essential to the satisfactory performance of this position. The requirements listed below are representative of the knowledge, skill, and/or ability required to perform the position in a satisfactory manner. Individual abilities may result in some deviation from these guidelines.

• Previous experience with demonstrated progression and increased professional responsibility in the collection of delinquent loans across all asset classes including commercial, consumer, and/or residential loan collections with community financial institution(s).

• Demonstrated understanding and mastery of applicable federal and state collection laws.

• Strong attention to detail and organizational skills.

• Ability to work independently and manage multiple accounts and priorities.

• Proficiency with Microsoft Office and banking/loan servicing systems required.

• High school diploma or equivalent required; additional banking or financial education is a plus.

• Effective verbal, written, and interpersonal communication skills with the ability to apply common sense to carry out instructions, interpret documents, understand procedures, write reports and correspondence, and speak clearly to customers and employees.

• Ability to deal with difficult problems involving multiple facets and variables in non-standardized situations, including the ability to handle difficult or sensitive customer conversations in a professional and courteous manner.

• Ability to work with general supervision while performing duties.

• Current driver’s license and a vehicle with appropriate insurance coverage if required to drive while performing assigned duties and responsibilities.

Supervisory Responsibility

N/A

Environment & Physical Activity

Tasks are primarily in an office setting and require the ability to sit for prolonged periods of time. Prolonged visual concentration at a computer monitor can be expected. Employee must be able to lift up to 25 pounds on an infrequent basis.

This description is meant as an overview of the Collections Specialist position and is not intended to describe all tasks which the employee may be asked to perform. Changes may be made to this description at any time at the discretion of the bank. Reasonable accommodations may be made to assist qualified individuals in completing the essential function of the position.