Collections Specialist – Loan Servicing

Description

The Collections Specialist at Idaho First Bank plays a key role in protecting the Bank’s assets by managing delinquent non-real estate secured consumer loan accounts. This position is responsible for early and late-stage collection activities, working proactively with customers to resolve past-due obligations while balancing risk mitigation with a positive customer experience. As part of a newly established Loan Servicing team, this role will help build consistent, compliant, and effective collection practices that support portfolio performance.

Assures compliance with all Bank policies and procedures, as well as all applicable state and federal banking regulations related to collections and loan servicing. Supports the Bank’s core values and strategic initiatives.

Essential Functions

• Contact borrowers regarding past due loan accounts through outbound and inbound calls, written correspondence, and digital communication channels; clearly explain loan terms, delinquency status, fees, and potential consequences while maintaining professionalism and empathy.
• Monitor and manage delinquent consumer loan accounts to ensure timely follow-up and resolution, including working with borrowers to develop repayment plans, extensions, or other loss mitigation options in accordance with Bank policy.
• Identify and escalate accounts as appropriate, including those requiring hardship assistance, repossession, legal action, or charge-off consideration, in accordance with Bank policy.
• Accurately document all borrower interactions, agreements, and account actions in loan servicing systems.
• Maintain up-to-date knowledge of applicable collection laws and regulations, including the Fair Debt Collection Practices Act (FDCPA), Unfair, Deceptive, or Abusive Acts or Practices (UDAAP), and other consumer protection requirements.
• Collaborate with Compliance and other internal departments to ensure consistent and compliant collection practices and the continuous improvement of servicing processes and procedures.
• Meet or exceed established performance metrics (e.g., delinquency roll rates, cure rates, call productivity, right-party contact rates, and recovery targets).
• Assist in reporting, tracking delinquency trends, and supporting portfolio risk management efforts.
• Support audits, examinations, and internal reviews related to collection activities.
• Perform other duties as assigned.
  
  

Skills

• Knowledge of collection practices and regulations, including FDCPA and consumer protection requirements, preferred.
• Ability to navigate difficult conversations and de-escalate conflict.
• Sound judgment and decision-making skills, particularly in balancing risk mitigation with customer relationships.
• Attention to detail in documentation and regulatory compliance.
• Ability to manage time effectively and prioritize a high-volume workload.
• Experience with loan servicing systems (e.g., Nortridge) preferred.
• Proficient in Word, Excel and other relevant systems.
  
  

Requirements

• High school diploma or equivalent required.
• One (1) or more years of experience in consumer loan collections, loan servicing, credit administration, or related banking or financial services roles.
• Working knowledge of consumer loan products, delinquency management, and risk mitigation practices.
  
  

About IFB

Idaho First Bank (IFB) is a full-service state-chartered community bank established in October 2005 and headquartered in McCall, Idaho. Known for its "People First and Community First" motto, the Bank serves the greater Southwest Idaho and Central Oregon communities. Branch locations include McCall, New Meadows, Eagle, Ketchum, Nampa, Boise, and Bend. Idaho First Bank is a member of the FDIC and an Equal Housing Lender. For more information, visit us at www.idahofirstbank.com.

Equal Opportunity Employer