Collector/Loss Mitigations at GenoaBank

Genoa, Ohio, United States -

Full Time

Start Date

Immediate

Expiry Date

03 Sep, 26

Salary

0.0

Posted On

05 Jun, 26

Experience

2 year(s) or above

Remote Job

Yes

Telecommute

Yes

Sponsor Visa

Skills

Debt Collection, Loss Mitigation, Negotiation, Consumer Lending, Delinquency Management, Account Documentation, Microsoft Excel, Microsoft Word, Financial Analysis, Regulatory Compliance, Bankruptcy Processing, Foreclosure Processing, Customer Service, Communication Skills, Analytical Ability, Collateral Management

Industry

Banking

Description

GenoaBank, founded in 1902, is a locally-owned, independent community bank that provides a broad range of banking services to both business and private customers in counties of Lucas, Ottawa, Sandusky, Wood, Fulton, Erie and the Michigan County of Monroe. Since the time GenoaBank first opened its doors, it has continued to expand and now operates branches in Elmore, Fremont, Maumee, Millbury, Oregon, Perrysburg/Rossford, Port Clinton/Catawba, Sylvania, and Downtown Toledo, Ohio. GenoaBank has always been driven to serve each community’s financial needs and continues to provide the same friendly, personal service it has since day one. Taking your banking needs personally is our priority. Your financial needs will be met with exceptional service, quick decisions, innovative products and great rates that only local ownership can deliver. GenoaBank offers experience and service that has kept customers coming back for over 120 years! GenoaBank. Taking your banking needs personally. COLLECTOR/LOSS MITIGATIONS: Position Summary: Responsible for managing and collecting delinquent consumer, mortgage, and credit card accounts, contacting customers regarding past-due balances, and working with borrowers to secure payment arrangements that reduce loss exposure while preserving customer relationships. May handle some commercial collections as well. This role supports the bank’s asset quality goals and assists in the bank’s recovery efforts by following collection policies, documenting account activity accurately, and ensuring all collection efforts comply with applicable laws, regulations, and internal procedures. Also responsible for general administrative tasks including those associated with processing bankruptcies, foreclosures, etc. Essential Duties & Responsibilities: Loss Mitigations: * Contacts customers by phone, mail, and other approved methods to discuss past due balances and requests payment. * Adheres to all departmental collection guidelines and procedures, as well as documents the system with all collection efforts. * Negotiates payment arrangements within established authority limits and follows up to ensure commitments are honored. * Coordinates with branch staff, lenders, and other internal departments to resolve account issues and support collection efforts and correct payment postings. * Schedules face-to-face interviews with customers as necessary. * Communicates regularly with management regarding progress and problem accounts. Loan Recovery: * Refers collection accounts to legal and monitors the legal process. * Initiates repossession efforts and protects/inspects collateral. * Ensures repossessed units are sold at auction or private sale. Loan Review/Workout: * Identifies accounts that require escalation, repossession, legal review, charge-off consideration, or outside collection placement. * Collaborates with loan officers and/or pertinent personnel regarding collection efforts. * Maintains bank’s collateral position. * Refers accounts to legal and monitors the process. * Responsible for keeping management informed. Reporting: * Assists management with the credit reporting function to the various credit reporting agencies. * Assists management in the preparation of delinquency reports and other pertinent departmental reporting requirements. Administrative Tasks: * Responsible for the administrative tasks associated with processing bankruptcies, bankruptcy reaffirmations, the initiation of legal processes, foreclosures, etc. * Document all borrower conversations, payment promises, disputes, and collection actions in the bank’s systems. Other Functions: * May assist management with bankruptcy matters as needed. * Maintains compliance and required compliance training with all banking laws, acts, regulations and bank policies and procedures. * Any other duties and/or projects as assigned by management. Requirements & Qualifications: Education/Specialized License(s): * Minimum of high school diploma or equivalent; Associate degree or higher in business, finance, or related area preferred. * Experience: 2-3 years of collections, banking, customer, services, or related financial services experience preferred; knowledge of consumer lending, payment processing, delinquency management, and account documentation practices preferred; understanding of applicable collection laws and regulations, including consumer protection and fair debt collection requirements, preferred. Specific Skills: * Ability to handle difficult conversations professionally, maintain confidentiality, and exercise sound judgement; proficient computer skills including Microsoft Excel and Word and the ability to learn core banking and collection systems; strong verbal and written communication skills, negotiation skills, and attention to detail; analytical ability to review account information and identify appropriate collection strategies. Supervisory Responsibility: * None. Working Conditions: * Normal hours are Monday thru Friday 8:00am to 5:00pm. Job requires a minimum of one or two evening shifts per week, and a rotating Saturday schedule. Management may change shift times according to job requirements and delinquency rates. GenoaBank offers excellent benefits. We pay 100% of the premiums for the employees medical, dental, vision, short-term and long-term disability and life insurances. In addition, we offer a 401(k) plan and match 50% up to 8% and offer an additional profit sharing, an Employee Stock Purchase Plan, and generous paid time as well off. EOE/AA

Responsibilities

Manage and collect delinquent consumer, mortgage, and credit card accounts while negotiating payment arrangements to reduce loss exposure. Handle administrative tasks related to bankruptcies, foreclosures, and loan recovery efforts including repossessions.