Consumer Loan Resolution Specialist - Credit Resolution

WesBanco; Youngstown (OH); On-site; USD 35,000 - 55,000; Full time

Job summary

An established industry player is seeking a dedicated Collections Specialist to manage day-to-day collections of credit lines and loans. This role requires a comprehensive understanding of state and federal regulations to ensure compliance with bank policies. You will be responsible for initiating contact with delinquent accounts, negotiating payment arrangements, and preparing necessary documentation for actions such as repossession. If you possess strong customer service and interpersonal skills, along with the ability to work in a fast-paced environment, this opportunity offers a chance to make a significant impact in a regulated banking sector while enhancing your career in finance.

Qualifications

• High school diploma required; one year of related experience preferred.
• Proficiency in bank policies, regulations, and compliance training expected.

Responsibilities

• Manage collections of credit lines and loans, ensuring compliance with regulations.
• Initiate calls to collect delinquent accounts and negotiate payment arrangements.
• Analyze loan files and prepare documentation for repossession or foreclosure.

Skills

Customer Service Skills

Interpersonal Skills

Effective Communication

Organizational Skills

Problem-Solving

Education

High School Diploma or GED

Tools

FIS/IBS

Image Centre

Intellect System

Job description

SUMMARY:

Manages the day-to-day collections of a portfolio of credit lines and consumer and personal loans both secured and unsecured. Maintains a comprehensive knowledge of applicable state and federal regulations relating to collections and ensures that the Bank's policies and procedures are compliant with the same. Prepares files as an account progresses in delinquency and makes recommendations to management as to the required action needed to secure possession of our collateral and/or payment of the past due amount.

CUSTOMER SERVICE SKILLS:

Willingness to provide a level of service which will clearly differentiate us from our competitors.

INTERPERSONAL SKILLS:

Professional appearance and demeanor, interpersonal relations, work ethic, and attitude. Possess clear, concise, effective written and oral communication skills to effectively express thoughts, ideas, and concepts to management, bank employees, and bank customers in a collaborative and solutions-oriented manner. Possess effective organizational skills and ability to handle detail-oriented work with promptness. Ability to work in a fast-paced environment.

ESSENTIAL DUTIES AND RESPONSIBILITIES:

1. Initiates outbound and receives inbound phone calls relating to the collection of delinquent accounts.
2. Reduces delinquency, prevents repossessions and/or foreclosure, and minimizes charge offs/charge downs on assigned accounts.
3. Determines reason for non-payment.
4. Completes Skip Trace on accounts to locate customers for which you have not established phone contact to verify phone number, address, place of employment for the maker and co-maker(s) on the account.
5. Reviews all bank systems as needed (FIS/IBS, Image Centre, etc.) to determine the scope of the customer relationship as well as facilitate in the collection of the account.
6. Prepares necessary documentation for modifications, extensions, and file evaluation.
7. Negotiates payment arrangement with borrower(s).
8. Maintains detailed tracking log on all accounts as you work through the collection process.
9. Processes GL and Payment Tickets as applicable when payment is received.
10. Researches and resolves billing and/or payment disputes on assigned accounts.
11. Verifies "Proof of Insurance" for collateralized loans as needed.
12. Orders appraisals when appropriate.
13. Analyzes loan/collateral file to make recommendation for appropriate action.
14. Reviews personal credit and asset reports to make recommendations as to appropriate strategy.
15. Organizes and prepares files to be referred for repossession and/or foreclosure.
16. Makes appropriate file notations for all correspondence and any other events to Intellect system.

OTHER REQUIREMENTS:

Banking is a highly regulated industry and you will be expected to acquire and maintain a proficiency in the bank’s policies and procedures, and adhere to all laws, rules, and regulations that are applicable to your conduct and the work you will be performing. You will also be expected to complete all assigned compliance training in a timely manner.

Ability to research problem situations and recommend appropriate action.

Qualifications:

High school diploma or General Education Degree (GED).

One year of related experience or training preferred.