FUNCTION: Responsible for recovery of previous losses experienced by the Bank on loans and deposit accounts. Manages queues of accounts with a strategic approach to maximize recoveries. Negotiates settlement agreements and/or pursues other recovery options under the supervision of Department leadership. When necessary, arranges for repossession and sale of vehicles and other personal property.
Under the guidance of Special Assets managers and supervisors:
Recovery Specialist I
- Reviews consumer loan and account data to develop strategic approaches to maximize recoveries.
- Obtains and assesses relevant customer information in connection with recoveries of previous losses.
- Interacts with branch personnel, customers, internal and external legal resources, and/or the Bank’s Risk Department, as necessary, to implement appropriate recovery options.
- Refers loans and accounts to Special Assets leadership for small claims actions or other civil action, where appropriate.
- Establishes repayment schedules with customers and monitors for compliance with terms.
- When necessary, arranges for repossession, proper notices, vehicle inspection, assignment to the auction house and actual sale at the auction of any repossessed vehicle, RV, boat, or other personal property.
- Maintains high volume of inbound and outbound calls.
- Works effectively and efficiently with core systems.
- Communicates and interacts effectively within the Department and with other departments of the Bank.
- Produces and interprets reports.
- Develops and maintains spreadsheets.
Recovery Specialist II
Meets all accountabilities of Level One with the following additional accountabilities:
- Reviews small business loan and account data to develop strategic approaches to maximize recoveries.
- Assumes responsibility for administration and review of deficiency claims resulting from completed foreclosure actions.
- Pursues small claims actions or other civil litigation.
- Establishes the terms of the proposed resolution and negotiates the same with the customer(s) and/or attorneys.
- Promotes a customer-centered culture and attitude that strives to put the customer first.
- Sets expectations and deals in an honest, straightforward manner.
- Creates written communication to customers that meets guidance.
Compliance and Control:
- Assists in ensuring that the Bank is in compliance with local, state and federal regulations.
- Maintains flexibility with both work duties and assigned scheduling.
- Interacts harmoniously and effectively with others, focusing upon the attainment of Bank goals and objectives through a commitment to teamwork.
- Conforms to acceptable punctuality/attendance standards as expressed in the Employee Handbook.
- Performs additional duties as requested and/or assigned.
- Adaptability/Flexibility – Adapts to change, is open to new ideas, takes on new challenges, handles pressure, adjusts plans to meet changing needs
- Multi-tasking – Often involved in multiple projects simultaneously, requiring ability to prioritize and handle potentially stressful situations.
- Analytical – Observes processes and trends. Makes recommendations for process changes that help achieve Departmental and individual goals.
- Initiative – Takes independent action, operates as a pro-active self-starter, acts on opportunities, practices self-development.
- Integrity/Ethics – Deals with others in a straightforward, honest manner, is accountable for actions, maintains confidentiality, supports company values, and conveys good news or bad.
- Interpersonal Skills – Has good listening skills, treats all co-workers and support staff with respect and fairness.
- Vision/Values – Supports Bank's mission/values through daily actions and decisions, communicates the Bank's vision, mission, and values to others, incorporates vision when planning.
- Organizational – Has strong organization system. Utilizes system for improvement and advancement of goals.
- High school diploma or equivalent required; college, business, or banking professional training preferred.
- Knowledge of Bank products required.
- Excellent customer service skills.
- Ability to work independently, exercise discretion, and make sound decisions.
- Exhibits professionalism in handling multiple tasks in a fast paced-environment.
- Demonstrated ability to manage multiple competing tasks and demands.
- Organized, sets priorities, and meets deadlines.
- Strong communications skills, both verbal and written.
- Computer literacy and working knowledge of Microsoft Office, including Word and Excel.
- High level of proficiency with spreadsheets.
Physical Demands/Conditions Requirements:
- General office environment.
- Moderate lifting (to 35 lbs.) required. Moderate reaching, walking, sitting and standing required.
- General office equipment.
External and internal applications, as well as position incumbents who become disabled, must be able to perform the essential functions (as listed) either unaided or with the assistance of a reasonable accommodation to be determined by management on an individual basis.