Bankruptcy Collections Specialist III

M&T Bank; Millsboro (DE); On-site; USD 58,824,000 - 98,085,000; Full time

Job summary

M&T Bank is seeking a Collections Specialist in Millsboro, Delaware, to manage complex delinquent accounts across foreclosure, bankruptcy, REO, and related areas. You will initiate contact with borrowers, coordinate repayment plans, and collaborate with attorneys and trustees to determine best recovery strategies.

Ideal candidates have at least 3 years of higher education or equivalent work experience, plus 1 year in customer service or collections, and strong written and verbal communication

Qualifications

• Minimum of 3 years of higher education and/or work experience including 1 year in customer service, collections, call center, or sales.
• Proficiency with word processing, spreadsheets and presentation software.
• Strong verbal and written communication skills.

Responsibilities

• Initiate contact with delinquent borrowers and assess repayment prospects, arranging repayment schedules or other solutions.
• Contact borrowers' attorneys and bankruptcy trustees as needed.
• Conduct skip tracing as required to locate borrowers.
• Recommend account placement with third party agencies or firms.
• Engage with customers and business partners to ensure service levels meet expectations.
• Participate in loss prevention and protect the bank's collateral while controlling costs.
• Review collateral conditions and negotiate sales when appropriate.
• Maintain an understanding of the business and its processes and industry trends.
• Comply with applicable risk and regulatory standards.

Skills

Customer service

Communication

Detail oriented

Education

Higher education / work experience

Job description

Overview

Manages complex accounts with the following areas of specialization: Foreclosure, Bankruptcy, REO/Property Preservation, Repossession, Remarketing, Legal Liaison or Post Charge Off Collections.

Overview

Manages complex accounts with the following areas of specialization: Foreclosure, Bankruptcy, REO/Property Preservation, Repossession, Remarketing, Legal Liaison or Post Charge Off Collections.

Primary Responsibilities

• Initiate contact with consumer borrowers that are in the mid to late stages of delinquency; assess the prospect of repayment, and arranging repayment schedules or other solutions such as: Loan Workout, Alternative Lending, Consumer Credit Counseling Services, Reages, or Extensions.
• Initiate contact with customers’ attorneys and Bankruptcy trustees.
• Investigate and conduct skip tracing as required.
• Submit recommendations for account placement with third party collection agencies, attorneys, brokers, and property preservation firms.
• Initiate direct contact with borrowers (consumer, mortgage, deposit overdraft, business banking), assessing the prospect of repayment, arranging repayment schedules or other solutions.
• Contact business partners and vendors to ensure services provided are meeting predetermined service level agreements.
• Participate in loss prevention by employing advanced strategies that provide adequate protection for M&T with respect to its interest in the collateral securing the loan, while maximizing the cost containment opportunities.
• Review collateral condition and establish asset value. Negotiate sale with prospective buyers and conclude sales transaction with limited oversight.
• Develop an understanding of the business and its functions, processes and operations.
• Keep abreast of business and market trends that may affect business department.
• Adhere to applicable compliance/operational risk controls in accordance with Company or regulatory standards and policies.
• Maintain M&T internal control standards, including timely implementation of internal and external audit points together with any issues raised by external regulators as applicable.
• Promote an environment that supports belonging and reflects the M&T Bank brand.
• Complete other related duties as assigned.

Scope of Responsibilities

This position works under general supervision and has autonomy when performing skip-trace.

In addition, this position does have the authority to waive late fees, within guidelines.

Education and Experience Required

A combined minimum of 3 years’ higher education and/or work experience including a minimum of 1 year experience in customer service, customer-facing, collections, call center or sales.

Experience with word processing, spreadsheet and presentation software.

Detail oriented.

Strong verbal and written communication skills.

Education and Experience Preferred

Knowledge of M&T Bank systems.

M&T Bank is committed to fair, competitive, and market-informed pay for our employees. The pay range for this position is $20.55 - $34.25 Hourly (USD). The successful candidate’s particular combination of knowledge, skills, and experience will inform their specific compensation.

Location

Millsboro, Delaware, United States of America