Default Analyst I

First Citizens Bank; Raleigh (NC); On-site; USD 60,000 - 75,000; Full time

Job summary

First Citizens Bank is seeking a Default Operations Associate in Raleigh to manage portfolio accounts in bankruptcy, foreclosure, repossession, or deceased status. You will analyze documentation, prepare pleadings, and decide next steps, including referrals to external attorneys or vendors, while maintaining risk controls.

Responsibilities include detailed account analysis, timely workflow management, and building relationships with internal teams and external partners.

Qualifications

• Understanding of bankruptcy, foreclosure, probate and collections regulations.
• Ability to analyze loan documents, histories and case notes for accuracy.
• Experience following regulatory guidelines to mitigate bank risk.

Responsibilities

• Analyze documentation and information within a portfolio of defaulted accounts.
• Manage workflow, update systems with notes, and decide next steps with external parties.
• Build and maintain relationships with managers, vendors and external attorneys.
• Provide support to department initiatives and projects as needed.

Skills

Regulatory knowledge

Account analysis

Attention to detail

Education

Bachelor's degree in finance or related field

High School Diploma or GED

Job description

Overview

This position is responsible for working portfolio accounts in default statuses such as bankruptcy, foreclosure, repossession, or deceased. Manages legal pleadings following referral to ensure accuracy and completeness of actions to collect indebtedness. Analyzes documentation, account statements, maintenance, and other necessary information to take the next appropriate step such as assignment to external attorneys or vendors for bankruptcy, foreclosure, or repossession. This position is considered a first line of defense and is expected to maintain a high level of attention to detail, analyze facts and make sound decisions in order to mitigate risk to the Bank.

This position is responsible for working portfolio accounts in default statuses such as bankruptcy, foreclosure, repossession, or deceased. Manages legal pleadings following referral to ensure accuracy and completeness of actions to collect indebtedness. Analyzes documentation, account statements, maintenance, and other necessary information to take the next appropriate step such as assignment to external attorneys or vendors for bankruptcy, foreclosure, or repossession. This position is considered a first line of defense and is expected to maintain a high level of attention to detail, analyze facts and make sound decisions in order to mitigate risk to the Bank.

Responsibilities & Qualifications

Duties & Responsibilities:

• Account Analysis - Analyzes documentation and information within a portfolio of accounts. Reviews system notes, loan histories, and other relevant case information prior to initiating legal actions. Ensures completeness and accuracy of included documentation.
• Account Management - Works pipeline of accounts, completing all tasks within the required timeframes. Updates systems with detailed account notations. Decides next steps, passing accounts onto external attorneys, vendors, and other key contacts. Follows up to ensure work is completed in a timely fashion and to continuously monitor assigned account status.
• Relationship Development - Builds and maintains strong relationships with managers, associates, vendors, and other key vendors involved in handling portfolio accounts.
• Business Support - Performs additional tasks as needed to support department initiatives and projects.

Position Specific Skills

Knowledge of industry specific regulations and laws pertaining to collections, default, bankruptcy, and foreclosure

Qualifications

• Bachelor's Degree and 2 years of experience in Financial Services industry including Bankruptcy, Foreclosure, Probate, or Collections and Default regulations and laws OR High School Diploma or GED and 6 years of experience in Financial Services industry including Bankruptcy, Foreclosure, Probate, or Collections and Default regulations and laws

Preferred Qualifications

• Paralegal and CACS collection and recovery system, ALS, TSYS, FISERV or other Bank/Host/Mainframe servicing systems
• MS SuiteLicense
• Knowledge of industry specific regulations and laws pertaining to collections, default, bankruptcy, and foreclosure

Additional Information

Benefits are an integral part of total rewards and First Citizens Bank is committed to providing a competitive, thoughtfully designed and quality benefits program to meet the needs of our associates. More information can be found at https://jobs.firstcitizens.com/benefits.