People's United Bank - Burlington, VT

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Requisition Number




Full Time



This position is responsible for the collection of delinquent residential mortgage products, which includes gathering and analyzing financial information and making recommendations to management regarding loss mitigation, collateral valuation and recovery strategy. In addition, this position coordinates and closes loan modifications, short sales, foreclosures and repossession activities. Develop a positive and productive working relationship with internal and external customers. Demonstrate a pleasant, efficient approach and professional attitude when handling situations involving sensitive customer contact, information and extensive inter-department activity.

Monday-Thursday 11am to 8pm Friday 8am to 5pm (Saturday coverage on a rotating schedule)

Collects on assigned accounts, with a focus on a particular type of loan, within compliance of federal and local collection law and internal credit policies and procedures. Documents all collections activity within collection system. Provides regular status reports to Collections management regarding account level activities.

Contacts borrowers and their representatives to discuss past due status and develop a payment strategy to return account to current status. Prepares and sends letters to customers detailing delinquent status as appropriate.

Recommends initiation of legal collections activities such as repossession, foreclosure or charge off. Prepares appropriate documentation for action. Works closely with collection vendor such as bank counsel, repossession agents, third party collection agencies and bank insurance providers of VSI and force placed coverage.

Works with appropriate individuals to ensure the collection interests and public relations image of the bank are maintained by all parties representing or acting on the bank’s behalf.

Meets individual collections goals and supports team members to ensure departmental delinquency goals are achieved. Makes recommendations to increase efficiencies, ensure compliance and provide a high level of customer service.

Communicates issues to the appropriate party in a timely and effective manner.


Applicants for this position must possess effective communication skills to ensure positive working relationships, collaborate with external customers, vendors and all levels of management and staff. The ability to discuss sensitive financial situations in a tactful manner, and to present a positive Corporate image in a difficult situation.

Familiarity with regulatory requirements for servicing/collecting loans (both state and federal) including a sound understanding of bankruptcy laws and legal remedies, state meditation and notice requirements; as well as knowledge of lending practices, documentation and credit policy.

Analystical and problem solving skills are needed to find creative and effective solutions to collect on complex loan accounts.

Strong organizational and administrative skills; sound decision-making; and the ability to work independently and discreetly with confidential information;

One year of previous collection experience preferred.

People's United Bank - 2 years ago - save job - block
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About this company
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People's United Financial is the holding company for People's United Bank (formerly People's Bank), which was founded in...