POSITION SUMMARY: This position is responsible for the ongoing management and administration of residential, consumer, and commercial loan collections; for managing the Bank's real estate owned properties; and for supporting Bank products and services.
KEY RESPONSIBILITIES:
Collections: Manage the Bank's collection effort to ensure timely payments and minimal losses on all loans. Review all delinquent residential, consumer and commercial loans from the time they become delinquent. Implement active collection efforts as appropriate with borrowers, including telephone calls and other correspondence, following Bank policy and Federal and State regulations. Monitor the ongoing status of all delinquent loans; communicate regularly with delinquent borrowers; negotiate payment plans as appropriate; initiate necessary legal action, up to and including foreclosure and liquidation, process and recommend loan charge offs as necessary to best protect the Bank's interests. Prepare and maintain all necessary documentation and records concerning delinquent loan collection efforts and status; provide periodic status reports to the Chief Loan Officer and/or Senior Residential Lender. Refer questions or problems to the Chief Loan Officer and/or Senior Residential Lender as appropriate.
Review and track all incoming tax lien notices. Follow up on all foreclosing tax lien notices to protect Bank’s interest.
Monitor and track loans with deceased borrowers to ensure Bank’s interests are protected. If necessary, prepare and process assumption agreements, probate documents and refer to legal for action.
Remain current on servicing guidelines for Freddie Mac, Rural Development and Private Mortgage Insurance to ensure compliance with third party collection guidelines. Perform monthly reporting to third parties as required.
Track and monitor all Troubled Loan Modifications based on Bank policy to ensure compliance with regulations and loan policy.
Administer and monitor Loss Mitigation procedures as required by State and Federal Law, ensuring timely response to requests and property notification is sent out to customers.
Monitor and manage all new and existing bankruptcy filings, ensuring compliance with current Bankruptcy codes. Engage legal counsel as necessary to ensure compliance and to protect Bank’s interest.
Respond to inquiries from customers, attorneys, credit bureaus, lenders, etc. concerning loan account status as appropriate.
Remain abreast of current regulatory requirements for loan collection activities including bankruptcy and foreclosure and implement operating changes as necessary to ensure continued Bank compliance. Report to the Chief Loan Officer and/or Senior Residential Lender on regulatory issues and recommend responsive action as appropriate.
Comply with all Federal and State banking regulations and all Bank and department operating policies and procedures.
Meet or exceed established objectives and standards for Collections Officer performance.
Real estate owned (“REO”) management: Oversee all REO properties. Coordinate facilities management as necessary to ensure the properties remain in good order. Develop sales strategies to maximize the return to the Bank. Negotiate sales to maximize recovery. Review all REO sales strategies and purchase agreements with the Chief Loan Officer and/or Senior Residential Lender.
Commercial loan work-out and administration: Closely monitor the status of delinquent and problem commercial and commercial real estate loans.
Work with Commercial Lending and Business Banking teams to handle collection and related efforts on the non-performing commercial and commercial real estate loans . Report to the Chief Loan Officer and/or Senior Residential Lender on the status of non-performing commercial loans.
Work closely with the commercial loan officers and the Chief Loan Officer and the Senior Residential Lender to review problem loan action plans or work-out strategies and/or restructure credit and repayment terms to better secure collateral, attain an equity position or otherwise establish recourse to other borrower assets. Review loan files as appropriate to determines if there are any documentation issues; recommend and implement corrective action to resolve.
Work with outside counsel to resolve any legal issues as appropriate.
Closely oversee the status and administration of all commercial REO properties, to ensure that the Bank's objectives are met or exceeded. Report to the Chief Loan Officer and/or the Senior Residential Lender the status of REO properties.
Support Bank products/services: Maintain knowledge of current KSB products and services. Actively utilize as many Bank products and services as possible in order to fully understand their features and benefits and to be able to communicate effectively with customers and prospective customers.
Talk to customers and listen for “cues and clues” to determine needs; respond to customer inquiries and evaluate their needs; suggest Bank products/services to customers to meet their needs; make referrals to other Bank personnel as appropriate.
Community/public relations: Actively participate in community organizations and events. Represent the Bank in the community. Monitor participation by branch/lending staff in community organizations and events. Support the Bank’s Community Reinvestment Act (“CRA”) efforts and activities.
Other outside activities: Actively participate in industry trade group meetings and educational programs to remain abreast of current issues and requirements affecting Bank operations and job performance.
Management committees: Participate as a member of the Credit Risk Committee
Participate in the Bank's management staff meetings.
Other duties: Demonstrate reliable attendance and punctuality. Handle telephone inquiries and provide information to customers, vendors and other departments in a professional and courteous manner. Attend and participate in Bank meetings. Attend internal and external training to improve skills and knowledge relevant to the collections manager position.
Perform other duties as required.
POSITIONS REPORTING TO THIS POSITION:
Requirements
EDUCATION/EXPERIENCE REQUIRED:
- Bachelor’s degree with concentration in business or finance and/or equivalent work experience.
- Experience in residential, consumer and commercial loan origination and servicing preferred.
- 5 to 7 years’ extensive background in loan collections and commercial work-outs.
- Must have strong written and oral communications skills.
- Must have strong analytical and organizational skills.
- Must be able to deal with people in a confidential, supportive and professional manner in person and by telephone.
- Computer literate, with specific experience and proficiency in word processing and spreadsheet applications, including the Microsoft Office suite of products.
OTHER REQUIREMENTS:
- Must possess a valid driver’s license, the use of a serviceable automobile that is properly registered and proper liability automobile insurance as required by state law.
- Must have public speaking ability.
- Must have strong analytical and critical thinking skills.
- Must be able to prioritize and organize workflow; must have good attention to detail; must be able to handle multiple jobs.
- Must be able to work independently as well as in a team environment
- Must have the ability to think through a problem, following proper steps in finding resolution.
- Must have a high degree of ethics and maintain confidentiality of customers and accounts.
- Must be able to lift boxes of checks, statements or other computer supplies of approximately 20 pounds.
- Must be able to read and work with computer print-out reports.
- Must be able to stand or sit for extended periods of time.
- Must be able to spend extended periods of time operating a computer keyboard and working at a computer monitor.
- Must be able use the telephone to converse with customers for extended periods of time; must be able to communicate clearly by telephone; must have good listening ability and skills.
- Must be friendly, courteous and sensitive to the needs of customers and coworkers.
- Must be able to work both independently and as part of a team.