Borrower Assistant Representative I

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

Job summary

First Commonwealth Bank seeks a Borrower Assistant Representative for its Special Assets Department. You will engage borrowers to resolve debt repayment using consultative approaches and document all interactions in the Collection System.

You will locate delinquent borrowers, initiate contact by phone or mail, assess financial strength, and recommend recovery actions aligned with loan contracts. Telecommuting may be possible.

Qualifications

• High School diploma or equivalent required.
• At least 1 year related experience required.
• Strong communication, interpersonal, computer, analytical, and mathematical skills.
• Must acquire and maintain knowledge of current resource recovery laws and regulations (e.g., Fair Debt Collection Practices Act).
• Ability to wear hands-free telephone headset.
• May be eligible for Telecommuting.

Responsibilities

• Support collection and recovery efforts on past-due accounts across consumer loans, cards, mortgages, and lines.
• Initiate contact with delinquent borrowers via telephone, letter and other forms of communication.
• Enter detailed notes and system codes in the Collection System for all actions taken.
• Evaluate clients’ financial strength and capacity to repay outstanding debt.
• Work with borrowers toward resolution and offer alternate courses of action compliant with loan contracts.
• Maintain records relating to delinquent accounts and updates on payments received.

Skills

Communication

Interpersonal skills

Computer skills

Analytical thinking

Mathematical skills

Education

High School diploma or equivalent

Tools

Collection System

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.

Bona Fide Occupational Qualifications___________________________

• 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.

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.

Education

Required

High School or better.

Equal Opportunity Employer/Protected Veterans/Individuals with DisabilitiesThis employer is required to notify all applicants of their rights pursuant to federal employment laws.For further information, please review the Know Your Rights notice from the Department of Labor.