What are the responsibilities and job description for the Collections Supervisor & Loan Recovery Specialist position at AmeriServ Financial Bank?
Summary
Supervise staff in the collection of assigned risk and recovery activities within the guidelines and policies of the Fair Debt Collection Practice Act. Complete loan recovery functions for loans as assigned in a timely and efficient manner minimizing financial loss to the Bank and maximizing loan recoveries. Act as backup and support for the Collections Officer, as needed.
Essectial Functions
Supervisory Responsibility
This position requires supervision of employees.
Work Environment
This job operates in a professional office environment. This role routinely uses standard office equipment such as computers, phones, photocopiers, filing cabinets and fax machines.
Physical Demands
The employee is frequently required to: 1) Type or otherwise work with fingers; 2) Talk expressing or exchanging ideas by means of the spoken word. Those activities in which they must convey detailed or important spoken instructions to other workers or clients accurately, loudly, or quickly; 3) Hearing - perceiving the nature of sounds at normal speaking levels with/without correction. Ability to receive detailed information through oral communication and make the discriminations in sound. Operating a motor vehicle and the ability to adapt to environmental weather conditions, as seasons change.
Sedentary work may require occasionally lifting of up to 25 pounds and/or move up to 30 pounds. This work involves sitting most of the time with walking, driving and sitting.
Specific vision abilities required by this job include: 1) viewing a computer monitor; 2) extensive reading; 3) driving.
Travel
Extensive travel is expected for this position.
Competencies
A bachelor's degree in a business-related field, is preferred along with at least three (3) years of experience in Bank collections and/or lending in retail or commercial area is considered.
Supervise staff in the collection of assigned risk and recovery activities within the guidelines and policies of the Fair Debt Collection Practice Act. Complete loan recovery functions for loans as assigned in a timely and efficient manner minimizing financial loss to the Bank and maximizing loan recoveries. Act as backup and support for the Collections Officer, as needed.
Essectial Functions
- Provide guidance to staff.
- Monitor Daily assigned duties for each employee e.g. Working the assigned WIP on CUBS and posting of payments received
- Conduct monthly departmental meetings and reviews for assigned reports and mid-month delinquency reports.
- Review Mid-Month Delinquency reports
- Review End of Month Delinquency Reports
- Work with Adjusters to be sure Site Inspections are completed if account becomes 45 days delinquent; chases on delinquent accounts are completed when necessary.
- Work with Adjusters to be sure that all Bankruptcy information is properly documented on each account/customer; making sure that collateral values are properly completed for all Bankruptcy filings involving secured loans. Attend 341 meetings when necessary.
- Work with Attorneys and Adjusters to make sure all Proofs of Claim, Relief from Stay, Monthly Chapter 13 payments are received, etc.
- Complete yearly evaluations for Adjusters and CSR
- Monitor UKG and timesheets; keep accurate records of time off (personal time & vacation time) create vacation schedule yearly.
- Provide guidance to collectors to maximize recovery by establishing workouts and payment plans along with foreclosures and repossessions.
- Provide guidance to collectors as outlined in our Charge off Recovery program to maximize our recoveries by obtaining judgments when necessary and liquidation of assets when cost effective to do so.
- Repossess Collateral
- Provide guidance on FFIEC Regulations and monitor that these guidelines are followed properly
- Work with Adjusters and CSR to make sure all 1099 C Forgiveness of Debt forms are completed and filed on time for the IRS as well as the 1098 and 1099A forms.
- Monitor Board Reports Monthly to make sure they are correctly and timely completed by CSR
- Update and Monitor all Procedures for this Department with CSR
Supervisory Responsibility
This position requires supervision of employees.
Work Environment
This job operates in a professional office environment. This role routinely uses standard office equipment such as computers, phones, photocopiers, filing cabinets and fax machines.
Physical Demands
The employee is frequently required to: 1) Type or otherwise work with fingers; 2) Talk expressing or exchanging ideas by means of the spoken word. Those activities in which they must convey detailed or important spoken instructions to other workers or clients accurately, loudly, or quickly; 3) Hearing - perceiving the nature of sounds at normal speaking levels with/without correction. Ability to receive detailed information through oral communication and make the discriminations in sound. Operating a motor vehicle and the ability to adapt to environmental weather conditions, as seasons change.
Sedentary work may require occasionally lifting of up to 25 pounds and/or move up to 30 pounds. This work involves sitting most of the time with walking, driving and sitting.
Specific vision abilities required by this job include: 1) viewing a computer monitor; 2) extensive reading; 3) driving.
Travel
Extensive travel is expected for this position.
Competencies
- Strong Communication Skills (Oral and Written)
- Efficient in Office, Word and Excel
- Analytical Skills
- Deadline Driven
- Ethical Conduct
- Driving Motor Vehicle
A bachelor's degree in a business-related field, is preferred along with at least three (3) years of experience in Bank collections and/or lending in retail or commercial area is considered.
