Responsible for collection of overdrafts and consumer and commercial loans. Supervise, train and monitor staff collecting overdrawn accounts. Ensure prompt contact with customers by mail, in person or by telephone to collect past due accounts and loans and minimize losses on loans and overdrafts. Arrange payment plans to remediate delinquent accounts. Repossess collateral and manage foreclosures when necessary. Assign charged-off accounts to collection agencies and work with legal council to effect the collection of accounts. Ensure that records of all customer contact are accurate and complete. Prepare periodic reports.
Principal Duties & Responsibilities:
1. Supervise unit responsible for making decisions on overdrafts on consumer and small business checking accounts. Maximize return to the bank and service to the customers by ensuring staff follow stated guidelines. These employees are responsible for letter, telephone and personal contact with overdrawn customers to ensure the least amount of loss. Duties involve training, development of procedures, reporting results, hiring, monitoring performance, firing and evaluating employees.
2. Supervise the collection of residential real estate loans. Duties include the development of systems and procedures. These employees are responsible for letter, telephone and personal contact with delinquent mortgage loan customers to ensure the least amount of delinquency and loan losses. Duties include the supervision of legal actions to gain possession of properties and maximize proceeds from their sale. Duties involve training, development of procedures, reporting results, hiring, monitoring performance, firing and evaluating employees.
3. A s requested, assist commercial lenders with the collection of commercial loans.
4. Collection past due consumer loans. If the loan’s performance cannot be remediated, the manager shall take appropriate action to gain possession of any collateral and maximize the proceeds from its sale. If the loan is unsecured, the manager will determine and follow an appropriate collection plan for the credit. Work with branch personnel as necessary.
5. Collect all loans for the SBA department. Maintain a close working relationship with the SBA lenders to develop individual plans for each delinquent loan within the bank and SBA guidelines. Have personal contact with customers to determine cause of delinquency and develop plans for repayment. Mail reminder letters, demand letters and other correspondence to customers, verify agreements, conversations, repayment plans. If necessary take appropriate action to gain possession of any collateral and maximize the proceeds from its sale.
6. Prepare charge-off requests for delinquent loans for presentation to Credit Administration.
7. Supervise charge-off and recovery actions for overdrawn accounts and loans.
8. Prepare periodic reports for management and the Board.
9. Collect charged-off loans and deposits.
10. Perform periodic review as necessary of unsecured and secured consumer line of credit taking appropriate action.
Education and Experience:
• Prior lending experience preferred.
• Prior loan collection experience required. (3 to 5 years)
• Prior loan work-out experience preferred.
• Prior banking experience preferred.
Knowledge, Skill and Abilities:
• Working knowledge of the regulations and laws governing collections, deposits and loans, bankruptcy laws and proceedings, Small Claims and Justice Court system, collection agencies, and execution of judgments.
• Ability to multi-task and handle complex tasks efficiently. Strong organizational skills
• Proven management skills
• Ability to work independent of daily supervision
• Ability to work effectively with customers and employees
• Must be able to work in a professional manner.
• Must be able to work quickly and accurately.
• Ability to understand and follow written and oral instructions.
• Ability to communicate effectively verbally and in writing.
• Some knowledge of keyboarding and computer applications.
• Occasional travel more than 50 miles from the home office will be required. Although difficult to estimate, it is anticipated that overnight trips will occur no more than once each quarter for no more than two days.
The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
While performing the duties of this job, the employee is regularly required to sit, talk and hear. The employee is occasionally required to stand; walk; and reach with hands and arms. The employee must occasionally lift and/or move up to 50 pounds. Specific vision abilities required by this job include close vision.