Required Skills & Experience
-Bachelor's degree in business or related field or equivalent working experience.
-Operational knowledge related to accounting, finance, and general business practices.
-Solid leadership and management background.
-Understanding of regulatory, market and macroeconomic environments relative to commercial banking.
-Strong and effective communication, conflict resolution, and negotiation abilities.
Nice to Have Skills & Experience
-PC high level of competency is essential in Microsoft applications including Word, Excel and Outlook.
-Commercial lending or commercial loan experience is a plus
Job Description
The position of Collections Specialist is responsible for overseeing the collection efforts of borrower account balances for multiple customers associated with Continental Bank. The Collection Specialist works under the direction of the CEO and the President of the bank. Reports to senior management, and other bank officers, bank counsel and agents
as needed. The manager also performs repossession and recovery efforts associated with equipment and foreclosed
property on uncollectable accounts.
Day to Day:
-Take ownership of each customer account while empathizing and prioritizing customer needs.
-Resolve conflicts and manage customer expectations. Determine customer needs and provide appropriate
solutions through relationship building.
-Identify slow paying borrowers and potential problems by creating and maintaining reporting structures to monitor
delinquency and other aspects as needed.
-Prepare quarterly recovery reports of all recovery accounts and accounts being tracked. Distribute and discuss these reports, as well as collection strategies with senior management on a weekly basis or as needed.
-Collect past due payments, taxes, and residuals.
-Draft and distribute various specialized collection letters to obtain necessary payments.
-Utilize various bank forms, agents, phone calls and other means to obtain past due payments. Set and enforce
commitment dates with the borrower to ensure borrower keeps his/her commitments.
-Track progression of all borrowers and guarantors to collect charged off accounts until management determines
the account is uncollectable.
-Recommend accounts for non-accrual/accrual status, write-downs, specific reserves, or charge-offs.
-Approve and submit for approval repossessions, prepare and submit condition reports to the Chief Lending Officer,
which includes potential exposure
Compensation: $24-$28/hr. Exact compensation may vary based on several factors, including skills, experience, and education. Benefit packages for this role will start on the 1st day of employment and include medical, dental, and vision insurance, as well as HSA, FSA, and DCFSA account options, and 401k retirement account access with employer matching. Employees in this role are also entitled to paid sick leave and/or other paid time off as provided by applicable law.