2023-075 Loan Recovery Officer

Bank Of Stockton; Stockton (CA); On-site; USD 65,000 - 75,000; Full time

Job summary

Bank Of Stockton in Stockton, CA is seeking a Loan Recovery Officer to manage and service a portfolio of adversely-graded loans (Special Loans) and to collect payments on delinquent Real Estate loans.

You will develop repayment plans, structure terms, perform skip-tracing, coordinate repossessions if needed, and ensure adherence to banking regulations. The role includes supervising Loan Recovery Specialists and maintaining accurate records to support recovery efforts.

Qualifications

• Knowledge of Bank collection procedures and systems
• Working knowledge of bankruptcy laws
• Good oral and written communication skills
• Negotiation skills
• Knowledge of laws and regulations for Special Loans (e.g., TIL, FCRA)
• 3–5 years of collection experience

Responsibilities

• Develop repayment plans to accommodate customer and Bank needs.
• Structure loan/repayment terms within established limits.
• Collect assigned delinquent Real Estate loans.
• Maintain tickler system on accounts to ensure proper follow-up.
• Conduct “skip-tracing” on all accounts.
• Arrange for property repossessions and foreclosures.
• Receive and initiate appropriate action on bankrupt accounts.
• Develop network of credit contacts as resource in recovery accounts.
• Resolve legal issues regarding non-payments.
• Maintain awareness of current collection and lending laws for all types of loans.
• Court appearances as required.

Skills

Negotiation skills

Oral and written communication

Analytical reasoning

Knowledge of collections procedures

Job description

Job Details

Job Location: Stockton, CA 95202

Salary Range: $65,000.00 - $75,000.00

Summary

Manages and services a portfolio of the Bank’s adversely-graded loans ("Special Loans") to preserve loan principle and secure interest. Collects payments on delinquent Real Estate loans.

Essential Duties

• Develop repayment plans to accommodate customer and Bank needs.
• Structure loan/repayment terms within established limits.
• Collect assigned delinquent Real Estate loans.
• Maintain tickler system on accounts to ensure proper follow-up.
• Conduct “skip-tracing” on all accounts.
• Arrange for property repossessions and foreclosures.
• Receive and initiate appropriate action on bankrupt accounts.
• Develop network of credit contacts as resource in recovery accounts.
• Resolve legal issues regarding non-payments.
• Maintain awareness of current collection and lending laws for all types of loans.
• Court appearances as required.

Secondary Duties

The position of Loan Recovery Officer performs duties specific to the position and other function as assigned.

Compliance Responsibilities

Must be familiar with all deposit related regulations and receive training on a regular basis as appropriate. This includes but in not limited to BSA, Reg E, Reg CC, Reg DD, BPA, RFPA/Reg P, Reg D and Branch Closing Procedures. Employee must follow all policies and procedures as set forth by the Bank as well as any regulations. Employee must also have knowledge of all lending related regulations including but not limited to: Reg Z, FEMA, HMDA, Fair Lending, FCRA, RESPA, and Predatory Lending. The employee must be able to take and pass all the required regulatory training as outlined by the Bank on a quarterly basis. This employee must adhere to all security related procedures of the Bank including Branch security, protection of customer information and security as it relates to the Bank's internet and technology systems.

Supervisory Responsibility

The position of Loan Recovery Officer is responsible for the supervision of Loan Recovery Specialists.

Environmental and Physical Activity

The Loan Recovery Officer is in a non-confined office-type setting in which he or she is free to move about at will. It may include some minor annoyances such as noise, odors, drafts, etc, This employee in the course of performing this position spends time writing, typing, speaking, listening, lifting up to 15 pounds, carrying, sitting, pulling, walking, standing, squatting, kneeling and reaching. This employee for this position may operate any or all of the following: telephone, cellular telephone, copy and fax machines, adding machine (calculator), money counter, typewriter, computer terminal, personal computer and related printers. The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Mental Demands

Employee must be able demonstrate their ability to read documents or instruments, detailed work, problem solving, customer contact, reasoning, language, presentations, verbal and written communications, analytical reasoning, multiple concurrent tasks and frequent interruptions.

Minimum Requirements

• Knowledge of Bank collection procedures and systems
• Working knowledge of bankruptcy laws
• Good oral and written communication skills
• Negotiation skills
• Knowledge of laws and regulations applicable to Special Loans (e.g., truth-in-lending, fair credit reporting)
• 3 – 5 years of collection experience