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Collections Management Trainee

Home Practice Opportunities Collections Management Trainee

Career Details

Full Time Newburyport, MA Posted on 6/23/2020

Our Residential & Consumer Lending Department is currently recruiting for a Collections Management Trainee.

This unique opportunity is designed to learn the role and responsibilities of the collections management function. This position is structured to develop the individual’s knowledge and skills to effectively manage and monitor delinquent 1-4 Family Mortgage Loans, Home Equity Loans and Consumer Loans in accordance with all consumer protection laws and investor requirements. Provides high quality customer service to debtors by proactively negotiating payment arrangements as to avoid delinquency, foreclosure and/or repossession.   

 Essential Duties and Responsibilities included in training; other duties may be assigned as dictated by business need: 

1. Demonstrates understanding of and commitment to the Bank’s ongoing mission, vision and core values.   

2. Provides prompt and direct interaction with borrowers seeking resolve to past due payments and or financial hardship issues either in person, by phone and/or email  

3. Negotiates payment arrangements with past due borrowers to avoid delinquency and/or engage past due borrowers through payment options, work outs, modifications and forbearances in accordance to bank policy and investor guidelines  

4. Documents and maintains all incoming and outgoing collection efforts in accordance to established standards (updated phone numbers, letters, mailing address, etc.)  

5. Maintains and ensures adherence to consumer protection regulations including but not limited to; FDCPA SCRA, MLA, UDAAP  

6. Prepares and remits reports to senior management including Watchlist, Risk Focus Reports, etc.   

7. Prepares and remits monthly delinquency reports to investors and insurers  

8. Manages non escrowed accounts for municipal liens, past due real estate taxes and HOA fees  

9. Conducts collateral assessments and determine property conditions by ordering certified appraisals and/or conducting exterior property inspections. 

10. Performs skip traces to locate debtors with incorrect contact information.  

11. Prepares, supports and responds to regulatory and compliance exams and audits.  

12. Creates and maintains collection procedures, checklists, documents and forms.  

13. Performs foreclosure activities such as; working with legal counsel and other third parties to initiate demand notices, tracking dates, scheduling foreclosure, handling auctioneer engagement, as well as completing pre and post foreclosure activities and notices and core system updates.  

14. Operates in accordance with bankruptcy protocols; receipt of notifications, tracking and reporting on core system. 

 15.. Each employee is responsible and accountable for actively engaging and participating in the Bank’s ongoing coaching process, on a minimum of a quarterly basis, through participation in one on one coaching sessions, touch-points, and monthly staff meeting.  

16. Works closely with other employees of the organization as a positive, enthusiastic and proactive team member. 17. Demonstrates an understanding of and compliance with Bank policies and procedures as well as regulatory guidelines as applicable to the position.  

18. Assumes additional responsibilities as requested.  

 Qualifications: Minimum of two years’ experience in the banking industry. The candidate must have the ability to work independently and be a self-starter with an attention to detail. Candidates must possess the traits of being assertive yet respectful when working with internal and external customers. The candidate’s skillset must include; the ability to multitask, possess strong written and verbal communication and be capable to learn quickly. Experience and knowledge of FIS Horizon is a plus along with Microsoft office products and tools such as Word, Excel and Outlook. Professional demeanor and professional maturity required for working closely with customers, employees and third parties such as attorney’s and collection vendors. 

 Physical Demands:The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. While performing the duties of this job, the employee is frequently required to stand; walk; sit; reach; climb or balance and stoop. The employee may occasionally lift and /or move up to 15 pounds. Specific vision abilities required by this job include color vision and depth perception. Ability to use telephones, computers, scanners, printers, fax, and photocopiers required. May be required to travel to other Bank offices, customer or vendor locations for training or other Bank business.  

Member FDIC Member DIF EOE/Disabilities/Veterans Equal Housing Lender Bank NMLS#413282