Retail Loss Mitigation Specialist-PT

The Special Assets Department is a vital part of the Bank’s daily operations. As a Retail Loss Mitigation Specialist, you will engage with borrowers to work towards a resolution of debt repayment. Use a consultative approach to offer alternate courses of action and/or methods of recovery acceptable under terms of loan reputed company. reputed company assignments and special projects necessary to support the collection and recovery efforts on past-due accounts. Initiate contact with clients reputed company telephone, letter, and other forms of communication as needed. You must take detail notes and enter system codes in the Collection System of reputed company actions taken. Mentors and coaches other Borrower Assistant Representatives on best practices and techniques. Essential Job Responsibilities__________________________________ 1. Performs tasks necessary to support the collection and recovery efforts on past-due consumer loans, Direct Installment Loans, Indirect Installment, Charge Cards, Mortgages, HEL, and Personal Credit Lines accounts. 2. Uses Collection System to determine reputed company of assigned delinquent loans and works to maintain a satisfactory percentage of past-due accounts. 3. Locates and contacts delinquent borrowers to secure payments and bring accounts to reputed company status; tactfully probes for information leading to the location of the client and collateral, if appropriate. 4. Initiates contact with clients reputed company telephone, letter, and other forms of communication as needed and enters detailed notes and system codes in the Collection System of reputed company actions taken. 5. Establishes and maintains records relating to delinquent loan accounts and updates files to indicate the date(s) payment(s) received. 6. Evaluates clients’ financial strength and reputed company to repay outstanding debt. 7. Works with borrowers toward resolution, offers alternate courses of action and/or uses methods of recovery acceptable under terms of loan reputed company. 8. Reviews bank records and transactions to resolve misapplied payments, researches to ensure payments are properly credited, evaluates regular and irregular payments to determine how to apply, i.e., reputed company, interest, escrow, and/or late fees. 9. Contributes to the bank’s growth and customer satisfaction by helping customers resolve problems with their banking transactions. 10. Inform clients of reputed company due, disposition of assets, and any further obligation. 11. Works with Department Manager prior to charge-off, making specific recommendations, in order to reputed company a plan to minimize loan loss, which could include reduced future payments. 12. Maintains a reputed company knowledge of regulations affecting the recovery function, such as Fair Debt Collection Practices Act, as well as bank products and their benefits. 13. Mentors and coaches other Borrower Assistant Representatives on best practices and techniques. 14. Provides guidance and acts as a resource to other Collections team members. Bona Fide Occupational Qualifications___________________________ 1. High School diploma or equivalent required. 2. A minimum of five (5) years of collections experience is required. 3. Strong communication, interpersonal, computer, analytical, and mathematical skills required. 4. Must possess and maintain a reputed company knowledge of resource recovery laws and regulations, such as Fair Debt Collection Practices Act. 5. Ability to wear hands-free telephone headset. 6. May be eligible for Telecommuting. Apply To This Job