Senior Collections Specialist

Location
Tewksbury, Massachusetts
Posted
Oct 24, 2023
Closes
Dec 23, 2023
Specialty
Lending, Mortgage
Type
Full Time
Level
Experienced

POSITION SUMMARY

The Senior Collections Specialist carries out the Bank’s collection activities, processes, and administrative functions under the direction of the Vice President, Collections and the Special Assets Group (SAG) Committee.  The Senior Collections Specialist addresses issues as they arise and maintains departmental workflow.

ESSENTIAL DUTIES AND RESPONSIBILITIES 

  • Reviews and monitors the status of delinquent Mortgage & Consumer Loans
  • Takes appropriate action on loan accounts, including reaching out to borrowers for appropriate resolution to delinquency
  • Supervises the collection of non-performing and charged-off loans
  • Oversees Credit Bureau Reporting issues and responds to disputes
  • Coordinates and works closely with legal counsel to expeditiously resolve litigation while minimizing legal and collection expenses
  • Collaborates with supervisor to oversee and manage REO upon acquisition and through disposition
  • Makes recommendations for charge-off and risk rating adjustments on delinquent and non-performing loans within all Collections portfolios
  • Completes monthly, quarterly, and yearly updates and reporting, including the MHP Report, Advantage Charge Off Reconciliation Report, Watch List Updates, Delinquency Reports, and 1099A & 1099C Reports
  • Prepares Loan Late File daily
  • Prepares letters, demand notices, attorney packages, SAG packages, SAG meeting minutes, and risk rating change forms, as necessary
  • Reviews, updates, and maintains policies and procedures, as appropriate


REQUIREMENTS

  • 2-5 years of collections experience strongly preferred
  • Working knowledge of Federal and State Collection Laws, Regulations, and Guidelines
  • Strong computer skills, and sound working knowledge of Microsoft Office Suite Products
  • Excellent verbal and written communication skills
  • Ability to manage relationships; strong interpersonal and problem solving skills
  • Strong organizational skills, with ability to multi-task and meet deadlines
  • Self-motivated and able to work independently