Consumer Collections Specialist

Position Title: Collection Adjuster 1 - Consumer

Reports To: Consumer Collection Manager

Department: Retail Lending - Collections

FLSA Status: Non-Exempt

Purpose : The Consumer Collection Adjuster 1 is responsible for managing delinquency to acceptable levels in accordance with established Department goals and objectives. Must strictly adhere to all Bank policies and procedures, in addition to all State and Federal mandates and requirements. 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.


Supervisory Responsibilities :

Degree of Supervision Received: Extensive

• Supervision Received (title): Consumer Collection Manager

Degree of Supervision Given: None

• Supervision Given to (Titles): N/A

Essential Functions :

1. Contact delinquent borrowers to arrange for timely repayment. The majority of the contact is initiated though telephone contact. Letters and approved e-mails are other permissible contact options. A measurable goal is the expectation for borrower contact via telephone: Example - An average of 135 calls per day.
2. Obtain updated borrower information. Verify information with each interaction. Utilize standard collection practices when attempting to located borrowers such as: skip tracing tools and techniques; approved social media outlets; and approved and authorized references and third parties. Fully, clearly and concisely document all borrower interactions and conversations. Fully disclose all collection activity.
3. Solid knowledge of regulations governing collection activity such as, but not limited to: FDCPA, SCRA, Privacy, Fair Lending, and Identity Theft. Must ensure strict adherence is critical to avoid sanctions, fines and penalties both from a Bank and personal liability standpoint.
4. Resolution of delinquency; NSF items; returned electronic payments; all for the purpose of reducing delinquency and avoiding losses. Creation of repayment/workout plans that are both good for and reasonable for the borrower and the Bank. Daily review of delinquent queues and borrowers to identify potential/y serious problems; to receive immediate repayment and to schedule future payments. A measurable goal is the expectation for acquiring electronic payments: Example - 200-250 per month.
5. Define problems, collect data, establish facts. Promptly respond to all inquiries. Research borrower 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.
6. Educate borrowers on the resolution process - provide assistance and alternatives, fully describe and detail eligibility for relief options: Extensions/deferments, government established relief programs, charitable organizations, and debt counseling agencies.
7. Provide assistance to ensure the most accurate borrower information and records: Change of Address Forms, Extension/Deferment Forms, Due Date Change Requests, Authorization for Preauthorized Payments, and Repossession Request Forms.
8. Identify potential loss situations by securing pertinent borrower information, and by analyzing financial data. Determine the probability of timely repayment - income vs debt. Proactively alert management to possible fraud situations. Formulate plans and seek approval by working closely with management.
9. Must perform all tasks and responsibilities by working in a partnership with peers, management, Loan Servicing and Call Center teams. Values must align with working in a true team environment to consistently deliver a superior quality of service.
10. Demonstrate the standards and principles of the Five Star Bank experience in every interaction with internal and external customers, associates, and stakeholders. Incorporate the high-performance behaviors of teamwork, leading by example, and service in every facet of work.
11. This job description is not exhaustive. The Collection Adjuster 1 - Consumer may be required to perform other duties as assigned.

Job Related Qualifications - Education and Prior Experience :

Required:

• Education: High School Diploma or equivalent
• Prior Experience: 2+ years of Collection, Banking, Customer Service, Call Center, Sales, Auto Financing, Collection Agency, Law Firm, Credit Union

Preferred:

• Education: Associate Degree in business or related field
• Prior Experience: 2+ years of Collection, Banking, Customer Service, Call Center, Sales, Auto Financing, Collection Agency, Law Firm, Credit Union

Competencies :

1. Strong verbal and written communication skills. Demonstrated customer service skills.
2. Basic knowledge of the collection function.
3. Working knowledge of Microsoft Office, Windows operating system, and Excel applications with the ability to learn new and existing Banking software.
4. Analytical ability to interpret data and to make sound decisions and logical recommendations. Excellent negotiation skills with the ability to overcome objections.
5. Strong organizational skills.
6. 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.

Physical Requirements :

1. Able to regularly sit for prolonged periods of time.
2. Extensive computer usage is required.
3. Ability to work:
   1. Evenings
      1. Occasionally
   2. Weekends
      1. Occasionally