Borrower Assistant Representative I

First Commonwealth Bank; Indiana (PA); On-site; USD 38,000 - 52,000; Full time

Job summary

First Commonwealth Bank is seeking a Borrower Assistant Representative in the Special Assets Department. You will engage with borrowers to resolve debt repayment and explore alternate recovery options under loan terms.

You will must take detailed notes, update the Collection System with actions, and support recovery efforts on past-due accounts across various loan types.

Qualifications

• Strong communication, interpersonal, computer, analytical, and mathematical skills are required.
• Must have ability to learn and apply collection procedures and policies.
• Knowledge of Fair Debt Collection Practices Act is desirable.

Responsibilities

• Support collection and recovery efforts on past-due consumer loans and accounts.
• Use the Collection System to determine priority of delinquent loans and maintain past-due account metrics.
• Locate and contact delinquent borrowers to secure payments and bring accounts current.
• Initiate contact with clients via telephone and mail, and enter detailed notes in the Collection System.
• Establish and maintain records for delinquent loan accounts and update payment histories.
• Evaluate clients’ financial strength and capacity to repay debt.
• Offer alternate courses of action and recovery methods consistent with loan contracts.
• Review bank records to resolve misapplied payments and properly credit payments (principal, interest, escrow, late fees).
• Contribute to growth and client satisfaction by resolving banking transaction issues.
• Inform clients of amounts due, asset disposition, and ongoing obligations.
• Work with the Department Manager before charge-off to minimize loan loss with a plan for reduced future payments.
• Maintain knowledge of regulations affecting recovery, including FDCPA, and of bank products and their benefits.

Skills

Communication

Interpersonal skills

Computer skills

Analytical skills

Mathematical skills

Education

High School diploma or equivalent

Job description

The Special Assets Department is a vital part of the Bank's daily operations. As a Borrower Assistant Representative, you will engage with borrowers to work towards a resolution of debt repayment. Use a consultative approach to offer alternate courses of action and/or methods of recovery acceptable under terms of loan contracts. Perform assignments and special projects necessary to support the collection and recovery efforts on past-due accounts. Initiate contact with clients via telephone, letter, and other forms of communication as needed. Must take detail notes and enter system codes in the Collection System of all actions taken.

Essential Job Responsibilities

1. Performs tasks necessary to support the collection and recovery efforts on past-due consumer loans, Direct Installment Loans, Indirect Installment, Charge Cards, Mortgages, HEL, and Personal Credit Lines accounts.
2. Uses Collection System to determine priority of assigned delinquent loans and works to maintain a satisfactory percentage of past-due accounts.
3. Locates and contacts delinquent borrowers in order to secure payments and bring accounts to current status; tactfully probes for information leading to the location of the client and collateral, if appropriate.
4. Initiates contact with clients via telephone, letter, and other forms of communication as needed and enters detailed notes and system codes in the Collection System of all actions taken.
5. Establishes and maintains records relating to delinquent loan accounts and updates files to indicate the date(s) payment(s) received.
6. Evaluates clients' financial strength and capacity to repay outstanding debt.
7. Works with borrowers toward resolution, offers alternate courses of action and/or uses methods of recovery acceptable under terms of loan contracts.
8. Reviews bank records and transactions to resolve misapplied payments, researches to ensure payments are properly credited, evaluates regular and irregular payments to determine how to apply, i.e., principal, interest, escrow, and/or late fees.
9. Contributes to the bank's growth and client satisfaction by helping clients resolve problems with their banking transactions.
10. Informs clients of amount due, disposition of assets, and any further obligation.
11. Works with Department Manager prior to charge-off, making specific recommendations, in order to develop a plan to minimize loan loss, which could include reduced future payments.
12. Acquires and maintains knowledge of regulations affecting the recovery function, such as Fair Debt Collection Practices Act, as well as bank products and their benefits.

Bona Fide Occupational Qualifications

1. High School diploma or equivalent required.
2. A minimum of one (1) year related experience required.
3. Strong communication, interpersonal, computer, analytical, and mathematical skills required.
4. Must acquire and maintain knowledge of current resource recovery laws and regulations, such as Fair Debt Collection Practices Act.
5. Ability to wear hands-free telephone headset.
6. May be eligible for Telecommuting.

Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities

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