What are the responsibilities and job description for the Collections Officer position at First American Bank and Trust?
This job is located at our Main Office in Vacherie, Louisiana.
Position Summary
The Collections Officer is responsible for managing and collecting delinquent loan accounts while maintaining strong customer relationships. This role works to minimize loan losses by proactively contacting borrowers, negotiating repayment arrangements, and ensuring compliance with Bank policies and regulatory requirements. The Collections Officer partners closely with lending staff to resolve delinquent accounts and protect the Bank’s asset quality.
Responsibilities
- Work with loan officers to resolve delinquent accounts and maintain customer relationships.
- Monitor and manage delinquent loan accounts including consumer, mortgage, and commercial loans.
- Contact borrowers via phone, email, mail or in person communication to resolve past-due accounts.
- Maintain detailed records of collection efforts and customer communications.
- Prepare reports on delinquency, collections activity, and recovery performance.
- Analyze borrower financial situations to recommend solutions that reduce loss exposure.
- Negotiate repayment plans, loan modifications, or settlements when appropriate.
- Monitor status of property taxes on real estate collateral.
- Ensure that loan collection actions are appropriate and timely, and that they follow compliance with applicable laws and regulations including collection practices and consumer protection requirements.
- Assist in the monitoring of loans in Bankruptcy and filling of documents as necessary.
- Assist in the coordination of external collections, repossessions, foreclosures, or legal action when necessary.
- Assist with charge-offs and recovery efforts for non-performing loans.
- Assist in managing the bank’s Other Real Estate portfolio.
- Provide excellent customer service while handling sensitive financial situations.
- Work with Legal Department as necessary.
- May assist in the collection of overdrawn deposit accounts as needed.
Qualifications
Education: College degree preferred.
Experience
- 2 years of experience in loan servicing, collections, credit administration, or banking operations.
- Knowledge of consumer and commercial lending practices.
- Understanding of banking regulations and collection compliance requirements.
Key Skills
- Strong negotiation and conflict-resolution skills.
- Excellent communication and customer service abilities.
- Strong attention to detail, organizational skills and documentation practices.
- Proficiency in banking systems and Microsoft Office.
- Loan portfolio management.