Consumer Loan Collector - Hybrid

First American Bank was founded in Chicago, and over the years has expanded throughout Wisconsin and Florida. As the largest privately held bank in Illinois, we now have over 60 locations and assets of $5 billion. We are a community bank at heart with international expertise, traditional values, and a forward-looking philosophy. Our employees have the experience and vision to meet the needs of savers, borrowers, and businesses in the 21st century. First American Bank can offer employees a level of visibility, career growth, and stability that is difficult to find in many larger corporations.

This hourly (non-exempt) position will collect past due amounts on delinquent loan accounts by negotiating payment arrangements, offering suggestions to customers on how to meet debt obligations, and advising borrowers as to the possible consequences of not meeting debt obligations. This position will also help develop repayment plans to assist clients in resolving delinquency, restructuring loans to avoid foreclosure or repossession and offer Family Credit Counseling Services.

DUTIES & RESPONSIBILITIES:

Contact borrowers to determine the reasons for delinquency and analyze the borrower's capacity to arrive at an individual collection plan to resolve the delinquency and mitigate loss for the Bank.
• Locate borrowers, determine employment status, income, debts, assets, and capacity for payment. Work directly with borrowers and outside sources to arrive at workable long-term solutions.
• Restructure debt by gathering loan application information, and work with underwriting to present restructure loan requests to Retail Loan Committee.
• Perform field calls to locate debtors, collect payments, and evaluate condition of collateral.
• Review and analyze previously charged-off loan accounts for potential future collectability. Contact charged-off loan borrowers to devise a payment plan.
• Work with inside and outside legal counsel to facilitate and monitor foreclosure and garnishment actions. Occasionally, work with a third party vendor to repossess non-real estate collateral.
• Work with attorneys to pursue charged-off loan borrowers to collect on accounts.
• Support the efforts of the Retail Loan Department with activities and projects as assigned by management.

QUALIFICATIONS:

• High school diploma or equivalent.
• This position requires the individual to take loan applications and close loans.
• This position may require the employee to register and maintain registration with the Nationwide Mortgage Licensing System & Registry (NMLS).
• Minimum of one year of banking experience, with strong knowledge of consumer loan products and a general understanding of collections. Previous experience working in a Collections role highly preferred.
• Knowledge of current collection procedures, regulations, and laws.
• Knowledge of investigative procedures applicable to the collection of delinquent accounts, interviewing techniques used to obtain factual information.
• Knowledge of basic arithmetic and financial record keeping.
• Ability to work well on a team and focus on results; must be adaptable and flexible.
• Experience with servicing and collecting Government Sponsored Enterprise Loans (Fannie Mae and Freddie Mac) is desirable, but not mandatory.
• Excellent verbal and written communication skills are required.
• Bilingual in English/Spanish.
• Possess strong interviewing techniques and written communication skills used to obtain factual information.
  Working knowledge of Microsoft Office products required (Word, Excel).
• Experience with Silverlake and/or CARM-Pro preferred, but not required.
• Experience with computer applications and software applicable to record keeping and collection of delinquent accounts.
• This position requires regular travel by car to various locations throughout the assigned market, up to 25%.
• Monday - Friday 8:00AM to 5:00PM and some Saturdays may be required.