Small Business Collections Representative

SUMMARY: The Small Business Collections Representative is primarily charged with resolving various delinquent accounts, including but not limited to commercial loans, commercial dealer loans, ‘scored’ business loans, ‘express’ business loans, and small commercial real estate loans. The Representative will implement standard collection procedures such as making customer contact (by phone, mail or other approved mediums) to attempt to resolve payment delinquencies, and / or other forms of loan default; will work in conjunction with the Special Assets Officer and / or the Special Assets Manager in the process of monetizing the Bank’s collateral and / or pursuing legal remedies; will recommend and initiate loan grade changes, loan charge downs and / or charge offs, all in accordance with Bank policies and procedures. In certain instances, the Representative may also be charged with implementing forbearance arrangements and other loss mitigation strategies.

ESSENTIAL DUTIES AND RESPONSIBILITIES:

• Collect delinquent small business / commercial loans; contact borrowers and / or guarantors (via phone or letter) about the status of past due accounts.
• Resolve delinquency issues and / or address other types of loan defaults.
• Responsible for maintaining delinquencies at levels acceptable to management.
• Use various software packages and / or proprietary reports to track and log the status of delinquent accounts - and the action plan(s) for remedying defaults.
• Apply payments to delinquent accounts through the bill payment system and / or paper transactions - and via setoff when applicable.
• Send borrowers and guarantors various type of correspondence, including by not limited to standard collection letters, declaration of default letters, notice of implementation of default rate letters, reservation of legal rights letters, and demand letters.
• Prepare files for various legal actions and initiate and coordinate such actions with outside counsel; monitor the actions through conclusion and / or resolution.
• Act as a servicing officer for a portfolio of troubled and / or charged off commercial loans.
• Initiate and / or handle both voluntary and involuntary repossessions, working directly with repossession companies; before taking such action, conduct proper due diligence to ensure no party has filed bankruptcy or is subject to the SCRA.
• Monitor and track repossessions, and make recommendations of alternative collection actions when repossession proves unsuccessful.
• Schedule secured party sales / auctions of the bank’s collateral after repossession, and monitor and track the results thereof.
• Send borrowers and guarantors correspondence notifying them of the details related to any secured party sales / auctions, all in accordance with bank policy, procedures and / or state and federal laws.
• Process sale proceeds from secured party sales / auctions and properly account for funds.
• Send borrowers and guarantors correspondence detailing the results of any secured party sales / auction, all in accordance with bank policy, procedures and / or state and federal laws.
• When applicable, work to collect deficiency balances, when the proceeds from the sale of collateral is insufficient to retire the borrower’s / guarantor’s debt.
• Work with insurance companies and borrowers when the bank’s collateral has been damaged and / or declared a total loss.
• Initiate and handle foreclosure actions on small commercial real estate loans, working in conjunction with the Special Assets Manager and / or the Special Assets Officer, and the Bank’s outside counsel; before taking such action, conduct proper due diligence to ensure no party has filed bankruptcy or is subject to the SCRA.
• Monitor and track foreclosure actions, including but not limited to ensuring that the bank’s collateral is properly insured; order and / or conduct property inspections, valuations and / or appraisals in accordance with bank procedures and / or at the request of the Special Assets Manger and / or the Special Assets Officer.
• When deemed applicable, recommend loan rating / risk rating changes; loan downgrades when there is increasing credit risk, or upgrades when a credit is improving or when credit risk is decreasing.
• When deemed applicable, whether by policy or procedure, or in accordance with regulatory guidance, ensure loans are placed on Non-Accrual and / or monitor when such loans can return to an Accrual basis.
• When deemed applicable, whether by policy or procedure, or in accordance with regulatory guidance, ensure loans are written down / charged down / charged off in a timely fashion.
• Upon notice of a borrower and / or guarantor filing Bankruptcy, work in conjunction with the bank’s outside legal counsel and / or the Collection Department representative assigned to monitor and track all such filings, all to ensure compliance with all applicable Bankruptcy laws.
• Assist with other duties as assigned by the Special Asset Manager, the Special Assets Officer and /or the Collection Manager.
• May assist with collecting consumer loans such as HELOC’s, direct loans, and small mortgage loans
• Complete all mandatory and elective training, including BSA (Bank Secrecy Act) and Anti-Money laundering procedure. Maintain compliance with all appropriate rules and regulations. Keep apprised of ever-changing regulations with respect to the risk rating of credit / other legal issues surrounding the collection of debts
• Regular, predictable attendance is an essential requirement of this position.
• Complete other duties as assigned

Farmers National Banc Corp. is an Equal Opportunity Employer: disability/veteran

EDUCATION AND/OR EXPERIENCE:

• High School diploma or General Education Degree (GED)
• Associates Degree preferred
• A minimum of three (3) years collections and/or loan related experience
• Knowledge of Word, Excel, Internet navigation/research, and Outlook is expected
• Ability to clearly and effectively communicate both verbally and in writing

Education

• High School or better

Skills

• Collections

Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities
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