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Tailor your resume to this Consumer Loan Collections Specialist role.
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Don't guess if your resume is good enough.
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About the Role
The Consumer Collection Adjuster 1 is responsible for managing delinquency to acceptable levels in accordance with established Department goals and objectives. This position will work with borrowers in providing financial counseling and to implement structured repayment plans to bring the borrower’s loan status to current and to encourage a future banking relationship.
Responsibilities
- Contact delinquent borrowers to arrange for timely repayment via telephone, letters, and approved e-mails.
- Obtain and verify updated borrower information using skip tracing tools, social media, and references.
- Document all borrower interactions and conversations clearly and concisely.
- Disclose all collection activity fully.
- Resolve delinquency, NSF items, and returned electronic payments to reduce delinquency and avoid losses.
- Create repayment/workout plans that are reasonable for both the borrower and the Bank.
- Daily review of delinquent queues and borrowers to identify potential problems and schedule future payments.
- Respond promptly to all inquiries and resolve payment posting issues.
- Provide loan history information and explanations.
- Work closely with peers across the Bank to provide the best possible borrower experience.
- Develop solid working relationships with Branches, Loan Servicing, Banking Center, and Systems Analysts.
- Educate borrowers on the resolution process, providing assistance and alternatives.
- Provide assistance to ensure accurate borrower information and records, including processing various forms.
- Identify potential loss situations by securing borrower information and analyzing financial data.
- Determine the probability of timely repayment based on income versus debt.
- Proactively alert management to possible fraud situations.
- Formulate plans and seek approval by working closely with management.
- Perform all tasks and responsibilities in partnership with peers, management, Loan Servicing, and Call Center teams.
- Demonstrate the standards and principles of the Five Star Bank experience in every interaction.
- Incorporate high-performance behaviors of teamwork, leading by example, and service in every facet of work.
Requirements
- Must strictly adhere to all Bank policies and procedures, in addition to all State and Federal mandates and requirements.
- Solid knowledge of regulations governing collection activity such as FDCPA, SCRA, Privacy, Fair Lending, and Identity Theft.
- Must ensure strict adherence to regulations to avoid sanctions, fines, and penalties.
- Ability to work in a fast-paced, high volume environment with specific measurement performance goals.
- Follow through, accountability, integrity, empathy, accuracy, attention to detail, and problem-solving are required skills.
- Able to regularly sit for prolonged periods of time.
- Extensive computer usage is required.
- Ability to work evenings occasionally.
- Ability to work weekends occasionally.
Skills
- Strong verbal and written communication skills
- Demonstrated customer service skills
- Basic knowledge of the collection function
- Working knowledge of Microsoft Office, Windows operating system, and Excel applications
- Ability to learn new and existing Banking software
- Analytical ability to interpret data and make sound decisions and logical recommendations
- Excellent negotiation skills with the ability to overcome objections
- Strong organizational skills
Experience Level
- 2+ years of Collection, Banking, Customer Service, Call Center, Sales, Auto Financing, Collection Agency, Law Firm, Credit Union experience
Education Level
- High School Diploma or equivalent
- Associate Degree in business or related field (Preferred)
About the Company
- Five Star Bank experience