COLLECTIONS WORKOUT OFFICER

POSITION SUMMARY

The primary responsibility is to direct the management and risk mitigation of delinquent, seriously delinquent, and foreclosed assets. This individual is directly responsible for all collections, loss mitigation, formal workouts, charge-offs, and loan recoveries. Will also be responsible for the management and disposition of foreclosed properties in a timely, cost effective manner, minimizing financial losses to the Bank.

Reasonable Accommodations Statement

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. Reasonable Accommodations may be made to enable qualified individuals with disabilities to perform the essential functions.

ESSENTIAL FUNCTIONS

· Communicating regularly and effectively with mortgagors/lending customers that are seriously delinquent in order to identify and counsel borrowers on best workout options available.

· Obtaining all necessary documentation, including updated financial information and coordinating workouts with applicable internal departments.

· Negotiate workouts with all involved parties (borrowers, guarantors, investors, brokers, etc.) from initial workout request to final close of workout.

· Handle a more complicated level of workout cases such as loan modifications, short sales, Deed-in-Lieu, etc.

· Provide proper and timely response to mortgagors and lenders while communicating regularly and effectively with other departments.

· Complete documentation of workout efforts (including communications, reason for default, workout/payment plans, updated phone numbers and mailing addresses) and ensuring information is part of the permanent loan file.

· Handle communications with problem accounts, complaint calls, correspondence and train and delegate workout responsibilities as appropriate.

· Oversee the evaluation of non-performing loans (foreclosures) for OREO asset collections. Preserve and maintain REO property, direct property preservation activities, including security, maintenance, insurance, and clean up.

· Design and implement appropriate collection strategies to limit losses.

· Detect early warning signs, loan inherent deficiencies, and communicate problem assets, loan weaknesses to Chief Credit Officer for appropriate reserve allocation and loan risk rating levels.

Education: Bachelor’s Degree. Wide knowledge of loan collection techniques, policies, procedures, and principles of lending. Must be able to correlate varied data, draw conclusions, communicate effectively, and make recommendations as needed. Strong negotiation, influencing, and management skills. Working understanding of collection loans and regulations.

Experience: Minimum five years of related experience.

Certificates & Licenses:

Applicable lending certifications.

Other Requirements: Must be familiar with lending functions in a financial institution setting. Have excellent verbal, written communication and organizational skills. Ability to resolve moderate problems with minimal guidance is necessary to carry out job tasks.

Benefits:

• 401(k)
• AD&D insurance
• Dental insurance
• Disability insurance
• Health insurance
• Life insurance
• Paid sick time
• Paid time off
• Vision insurance

Education:

• Bachelor's (Required)

Experience:

• LOAN COLLECTIONS : 5 years (Required)

Work Location: In person