Loan Collector

Department: Collections

Reports To: AVP – Collection Officer

OVERVIEW:

The Loan Collector I will be responsible for assisting the Collection Officer and more senior Loan Collectors in the collection of delinquent indirect loans, repossession of vehicles, disposition of repossessed vehicles, and collection of after sell rebates. Additional responsibilities include assisting the Collection Officer and more senior Loan Collectors in the collection of delinquent consumer loans and residential mortgages, preparation of required delinquency, loss mitigation and foreclosure notices, documentation of collections actions, assisting in the collection of outstanding deficiency balances and preparing collection and repossessed collateral reports as assigned by the Collections Officer. Activities will be performed in accordance with established Bank policies & procedures. The Collector will support, and adhere to, the Bank’s regulatory compliance objectives and recommend and implement changes to support prescribed requirements.

PRIMARY ACCOUNTABILITIES / RESPONSIBILITIES:

• Participates in indirect, residential and consumer loan collection efforts.
• Responsible for directly contacting collection account customers by phone and in writing to facilitate the payment of past due loans.
• Develops & implements workout strategies, prepares repossession, default, loss mitigation and foreclosure notices, and repossesses vehicles held as collateral.
• Monitors foreclosure process; reviews loss mitigation process with borrowers in accordance with required guidelines.
• Assists in assigning vehicle repossessions (voluntary & involuntary) to an asset recovery agent and coordinates the delivery of the vehicle to a safe location.
• Assists in the disposition of repossessed vehicles.
• Assists in the submission and follow up on vehicle VSI damage, GAP insurance, warranty, and repossession fee claims.
• Updates bank records regarding collection actions with a high degree of accuracy.
• Facilitates the processing of Collection-related approvals.
• Assists in the collection of outstanding deficiency balances.
• Prepares related collection and repossessed collateral reports.
• Ensure all activities comply with the Fair Debt Collection Practices Act (FDCPA), Real Estate Settlement Procedures Act (RESPA), Consumer Financial Protection Bureau (CFPB), Servicemembers Civil Relief Act (SCRA), Federal bankruptcy laws and applicable State collections laws.
• Contribute to a positive team environment through the department and the Bank.
• Treat people with respect, keep commitments, inspire the trust of others, work ethically and with integrity, accept responsibility for own actions, uphold Bank organizational values and benefit the Bank through community activities.

OTHER ACCOUNTABILITIES / RESPONSIBILITIES:

• Performs related and unrelated responsibilities as may be required.

POSITION REQUIREMENTS:

Associates degree or equivalent through specialized education in consumer credit & collections. Minimum 2-5 years loan collection experience. General knowledge of collecting VSI damage, GAP insurance, warranty, and repossession fee claims. General knowledge of CFPB guidelines regarding loss mitigation, collection and foreclosure. Excellent interpersonal, analytical, organizational, problem solving, planning, negotiation and communication skills. Working knowledge of consumer collection laws and state and government regulations. Working knowledge of Microsoft Office products. Valid driver’s license and use of an automobile are required. Must be able to travel with in the Bank’s lending territory.

INDEPENDENT ACTION:

Prepares collection-related documentation and approvals, including repossession documentation, repossession-related insurance, warranty and fee claims for review by Collections Officer or senior Collectors. Follows up on assigned delinquent loans as prescribed by department procedures and State and Federal laws.

QUALIFICATIONS:

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed above are representative of the knowledge, skill, and/or ability required. Any physical demands or work conditions described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

FULL-TIME BENEFITS:
401(k)
Employee Pension
Paid Time Off (PTO)
Parental Leave
Tuition Reimbursement

Begins first of the month following date of hire:
Medical, Dental, Vision
Critical Illness Insurance
Disability insurance including LIFE, Long-term disability
Employee Assistance Program
Flexible Spending Account
Dependent Care Account
Health Savings Account

VISIT OUR WEBSITE: https://www.bristolcountysavings.com/
LINKEDIN: https://www.linkedin.com/company/bristol-county-savings-bank/

EEO STATEMENT:
Bristol County Savings Bank is an Equal Opportunity Employer and is committed to a diverse workforce. The Bank considers applicants for employment without regard to race, color, sex, sexual orientation, national origin, age, genetic information, veteran status, disability or membership in any other protected class as defined by law.