What are the responsibilities and job description for the Collection Officer position at The First National Bank of Allendale?
Job Title: Collection Officer
Location: Mt. Carmel, IL
Employment Type: Full-Time
Department: Loan Operations / Credit Administration
Reports To: Chief Credit Officer
Job Summary:
We are seeking a motivated and detail-oriented Collection Officer to join our community bank. The ideal candidate will be responsible for managing the collection of delinquent accounts while maintaining positive customer relationships. This role plays a vital part in protecting the bank’s loan portfolio and ensuring compliance with lending policies and regulations.
Key Responsibilities:
- Contact customers via phone, email, and written communication to resolve past-due accounts.
- Negotiate payment arrangements and monitor adherence to agreed terms.
- Maintain accurate records of communications, promises to pay, and account updates.
- Recommend appropriate action on seriously delinquent accounts, including repossession or legal referral.
- Collaborate with loan officers and credit administration to develop collection strategies.
- Ensure compliance with all federal and state regulations, including FDCPA, SCRA, and bank policies.
- Prepare reports on delinquency trends, recovery efforts, and collection outcomes.
- Assist in managing charged-off accounts and coordinating with third-party collection agencies when needed.
- Assist in collection of ongoing loan file documentation & financial statements.
- Support the bank’s mission by maintaining professionalism, confidentiality, and a customer-centric approach.
Qualifications:
- High school diploma or equivalent required; associate degree or higher preferred.
- 2 years of experience in banking, loan servicing, or collections preferred.
- Strong communication, negotiation, and interpersonal skills.
- Familiarity with banking regulations related to collections.
- Ability to manage time effectively and work independently.
- Proficiency with Microsoft Office and core banking systems.
Benefits:
- Competitive salary with potential bonus
- Comprehensive health, dental, and vision insurance
- 401(k) with employer match
- Life and disability insurance
- Paid time off and holidays
- Supportive team environment with opportunities for growth
Salary Range: Hourly $18.00-$20.00
Job Type: Full-time
Pay: $18.00 - $20.00 per hour
Expected hours: 35 – 40 per week
Benefits:
- 401(k)
- 401(k) matching
- AD&D insurance
- Dental insurance
- Disability insurance
- Health insurance
- Health savings account
- Life insurance
- Paid time off
- Vision insurance
Work Location: In person
Salary : $18 - $20