Job Code/ Req#:
[i.e.: full-time, part-time, job share, contract, intern]
A Financial Institution located in Naperville, IL is seeking a Collections Specialist to identify, monitor, recommend and execute action on non-performing accounts. Must balance financial risks/rewards to the bank with working with and meeting the needs of the customer. Minimize loss and/or maximize return on investment through prompt and appropriate loss mitigation. Utilize strong negotiation skills and interpersonal skills, while adhering to all applicable guidelines, requirements and regulations. Maintain contact and follow-through to ensure appropriate resolution.
Role and Responsibilities
Non-Performing Account Resolution: Analyze varying customer issues/inquiries and non-performing accounts to determine appropriate solutions
- Contact past due customers and execute established procedures for the successful resolution of non-performing accounts, adhering to all applicable investor guidelines, requirements and regulations
- Respond to past-due customer-initiated requests and work with customer to resolve delinquency in a manner beneficial to all parties
- Negotiate the delinquent account resolution by balancing the financial risks/rewards to the bank with working with and meeting the needs of the customer
- Apply skip tracing techniques and strong negotiation skills when required
- Keep management apprised of complex or high-risk situations or issues
- Build and maintain constructive relationships with internal and external business partners, suppliers, vendors and regulatory officials
- Stay abreast of and incorporate changing regulations and procedures and ensure compliance
Monitoring and Follow-up: Maintain accurate and timely information and records in Bank systems Analyze pertinent reports and function-specific data/metrics to identify delinquencies, default, foreclosure and other non-performing accounts
- Provide courteous and timely follow-up to calls and correspondence.
- Monitor proceedings in accordance with bank policies and applicable state and federal laws and guidelines
- Maintain contact with past due customers throughout resolution process to ensure appropriate follow-through and resolution
- Ensure compliance with government regulations, internal policies, procedures and guidelines for the purpose of audit and compliance
- Minimize losses by ensuring timely portfolio processing and effective decision-making
- Make recommendations for reducing risk.
- Proficient PC Skills including but not limited to Microsoft Excel, Word, Access, etc.
- Working understanding of Consumer Collections and relevant function areas, including regulatory and consumer guidelines, pertinent documentation and initiatives (for example, property appraisals, Broker Price Opinions, Service Alignment Initiatives)
- Working knowledge of federal, state/provincial and local laws pertaining to Consumer Collections and functional area Familiarity with Auto Dialers and dialing platforms
- Excellent oral and written communication skills
- Strong interpersonal skills
- Strong customer service orientation (1-3 years)
- Keen analytical skills
- Attention to detail
Nice to have skills:
- Negotiation and skip tracing skills
- Effectively deal with change and shifting priorities
- Strong and decisive problem solver
- Proven ability to work effectively in a fast paced and stressful environment
- Proven ability to multi-task, prioritize workload and meet deadlines
- Proficient knowledge of function-specific software and computer programs
- Ability to work independently
For immediate consideration, please send your resume in word.doc format to firstname.lastname@example.org. LOCAL CANDIDATES ONLY.