Loan Collections Representative (Part Time) Loan Administration

First Commerce Bank; Lakewood Township (NJ); On-site; USD 42,000 - 62,000; Full time

Job summary

First Commerce Bank is seeking a detail-oriented collections professional to support the loan workout function with a focus on delinquency management and administrative tasks. You will coordinate activities across the department, communicate with delinquent borrowers, maintain records, and produce reports while complying with applicable laws and bank policies.

Experience with collection procedures, strong reading and writing skills, and proficiency in Microsoft Office are required; previous

Qualifications

• High School Diploma or equivalent; specialized collection education/training.
• Minimum of 1 year of related experience in collections.

Responsibilities

• Support the loan workout function with collection and administrative duties.
• Coordinate work within the department and with other departments.
• Comply with operating policies and procedures for the loan workout function.
• Communicate with appropriate personnel; respond to inquiries and requests.
• Maintain records and provide assigned reports.
• Notify customers of amounts due.
• Prepare past due notices and collections letters.
• Assist Special Assets Analyst with file organization and reporting.
• Adhere to laws and internal policies; support risk management and safety.
• Coordinate tasks with staff and management to ensure smooth information flow.

Skills

Reading & Writing

Grammar

Mathematics

Interpersonal skills

Organizational skills

Knowledge of collection policies

Regulatory awareness

Microsoft Office

Ability to learn software

Education

High School Diploma or equivalent

Specialized collection education/training

Tools

Microsoft Office

Job description

Basic Qualifications

Education/Training: High School Diploma or equivalent; specialized collection education/training.

Skill(s): Proficient reading, writing, and grammar skills; proficient mathematics skills; proficient interpersonal relations and communication skills; proficient organizational skills; thorough knowledge of collection policies and procedures, as well as regulations affecting the collection function; proficient PC skills including Microsoft Office and ability to learn job-related software; visual and auditory skills.

Experience: A minimum of one (1) year of related experience required.

General Responsibilities

Responsible for performing collection and administrative duties to support the loan workout function; coordinating work within the department, as well as with other departments; complying with operating policies and procedures established for the loan workout function; communicating with appropriate personnel; responding to inquiries or requests for information; maintaining appropriate records and providing assigned reports.

• Performs collection and administrative duties to support the loan workout function of which the following are illustrative:
• Receives and reviews a daily computerized listing of all assigned delinquent loans.
• Communicates with delinquent borrowers in attempting to obtain late payments, using various means of contact such as telephone, letters, and email; utilizes effective relations skills and various forms of persuasion to present a positive Bank image in an already negative situation.
• Utilizes methods of resource recovery under terms of the loan contract, depending on the feasibility and applicability of each case if initial recovery attempts do not secure required payment; refers customers to proper lending personnel for refinancing of delinquent loans.
• Documents all collection actions taken, such as telephone conversations, alternative financial arrangements made, letters mailed, etc.; maintains files.
• Notifies customer of amount due.
• Maintains control over delinquencies with respect to a satisfactory percentage of past-due accounts.
• Prepares mailings such as past due notices and various collections letters.

2. Assists Special Assets Analyst with file organization and reporting.

3. Abides by the current laws and organizational policies and procedures designed and implemented to promote an environment which is free of harassment and other forms of illegal discriminatory behavior in the workplace.

4. Cooperates with, participates in, and supports the adherence to all internal policies, procedures, and practices in support of risk management and overall safety and soundness and the Bank's compliance with all regulatory requirements, e.g. Community Reinvestment Act (CRA), Bank Secrecy Act (BSA), Equal Credit Opportunity Act, etc.

5. Coordinates specific work tasks with other personnel within the department as well as with other departments in order to insure the smooth and efficient flow of information.

6. Communicates with management and staff personnel in order to integrate goals and activities.

7. Responds to inquiries relating to his/her particular area, or to requests from other Bank personnel, customers, etc., within given time frames and within established policy.

8. Maintains appropriate records and provides assigned reports.

Ancillary Duties

• Performs tasks which are supportive in nature to the essential functions of the job, but which may be altered or re-designed depending on individual circumstances.