Retail Collections & Loss Mitigation Specialist

Merchants-Bank; Winona (MN); On-site; USD 42,000 - 54,000; Full time

Benefits offered by this job

Health insurance

Dental insurance

Life insurance

Disability insurance

Vision insurance

Flexible spending accounts

401(k) and ESOP retirement plans

Bonus plan

Paid time off

Tuition reimbursement

Supplemental insurance options

Job summary

Merchants Bank in Winona, MN seeks a Retail Collections Associate to contact customers with delinquent accounts and apply loss mitigation strategies. Underwrite hardship packages and collaborate with attorneys for court procedures.

Maintain compliance and protect customer confidentiality. The role requires a Bachelor's degree or equivalent experience, strong communication skills, and the ability to work independently.

Qualifications

• Prior bank collection practices and procedures experience preferred.
• Bachelor's degree preferred or high school diploma with relevant experience.
• Strong knowledge of mortgage and consumer debt collection guidelines.
• Forbearance, modification, loss mitigation, foreclosure, and repossession experience required.
• Excellent verbal and written communication with customers and co-workers.
• Ability to train others and lead a team.
• High attention to detail and ability to meet deadlines.

Responsibilities

• Contact delinquent consumer, mortgage, and credit card accounts per guidelines.
• Recommend loan modifications or loss mitigation solutions; manage repossessions/foreclosures as needed.
• Underwrite hardship packages per applicable guidelines.
• Coordinate with attorneys for court procedures for collection of loans.
• Manage bankruptcy filings for various loan types.
• Handle mortgages from delinquency through foreclosure and sale.
• Assist with preservation and disposition of foreclosed assets.
• Monitor overdrafts and potential account closures.
• File mortgage insurance claims in a timely manner.
• Report delinquent activity to investors and insurers as required.
• Prepare delinquency and collection area reports for management and board.
• Ensure compliance with bank, investor, and PMI policies and regulations.

Skills

Verbal communication

Written communication

Human relations

Attention to detail

Team leadership

Customer service

Education

Bachelor's degree

High school diploma with relevant experience

Tools

Collection software

Job description

Merchants Bank in Winona, MN seeks a Retail Collections Associate to contact customers with delinquent accounts and apply loss mitigation strategies. Underwrite hardship packages and collaborate with attorneys for court procedures.

Maintain compliance and protect customer confidentiality. The role requires a Bachelor's degree or equivalent experience, strong communication skills, and the ability to work independently.