What are the responsibilities and job description for the Collections Manager position at First Federal Savings Bank?
Collections Manager
DEPARTMENT: Loan Servicing REPORTS TO: Loan Servicing Manager, VP SUPERVISES: N/A
LOCATION: Evansville Region – Operations Center FSLA: Exempt
STATUS: Full-Time
OFFICER STATUS: TBD
HOURS: Monday – Friday, 8 am – 5 pm *Over-time may be required if business and staffing needs dictate.
First Federal was established on Evansville, Indiana’s Westside in 1904 and is a community bank currently serving communities in the tri-state area with several branch locations in Posey, Vanderburgh, Henderson, Warrick, Daviess and Pike Counties.
Full-time employees of First Federal are offered a comprehensive benefit package including Paid Time Off, up to 11 paid Holidays, 401k, ESOP, company paid Disability and Life insurance and Health and Wellness Options including Medical, Dental, Vision, Life and Supplemental Insurance. Our Part-time employees are eligible for up to 11 paid Holidays and can choose to enroll in Dental, Vision and Supplemental Insurance, and participate in clinic healthcare services.
Aside from that, all employees can expect to receive discounted bank services such as free checks, discounts on loans, waived processing fees and much more.
Diversity and Inclusion
First Federal is committed to creating an inclusive work environment where business results are achieved through the skills, abilities and talents of our diverse workforce.
At First Federal, individuals are respected for their contributions toward our company objectives. We strive for an inclusive work environment across all levels that is reflective of the available workforce in the communities we serve.
POSITION SUMMARY:
The Collections Manager responsibilities include general loan servicing functions with an emphasis on the collections area. The collections area duties include searching for delinquent customers, bankruptcy filing of chapter 7 reaffirmations and chapter 13 claims, incoming loan servicing collection customer calls, and other general functions of Loan Servicing as assigned if needed. Additional responsibilities include report preparation, credit reporting disputes, charge-off tracking and reporting, and 1099c tracking and reporting. Responsible for all BSA related functions.
EDUCATION & EXPERIENCE:
- College Degree in Business, Finance or a related field, or equivalent experience
- 5 years’ experience in a collection related field preferred
- Thorough knowledge of collections
- Understanding of real estate collection and foreclosure laws
- Strong leadership and supervisory skills
ESSENTIAL DUTIES AND RESPONSIBITIES:
- Trains, directs and oversees the collections department
- Monthly delinquency reporting to Fannie Mae, PMI companies, and HAMP
- Making collection calls to past due customers (in the absence of the Loan Servicing Collections Specialist)
- Handling in-bound Loan Servicing collection calls
- Assist branches with collection questions and requests
- Collection Account Maintenance
- Locating and notifying customers of delinquent accounts by mail and email when applicable
- Keep records of collection and status on accounts
- Ordering property inspections and door knocks
- Monthly tracking, reporting and calls for Habitat for Humanity delinquencies
- Handling of bankruptcy filings for both chapter 7 reaffirmations and chapter 13 claims
- Processing bankruptcy payments (in the absence of the Loan Servicing Collections Specialist)
- Hardest Hit funds payment processing and reporting
- Handling and tracking of repossession and foreclosure processes
- Processing all bills due for repossessed vehicles and legal fees due on collection loans
- Loss Mitigation determinations
- Processing Borrower Response Packet for Fannie Mae and SMDU for loss mitigation
- Processing Fannie Mae Repayment Plan and Modifications
- Creating monthly delinquency reports for management
- Preparation of classified asset reports
- Demand Notice generation and mailings (in the absence of the Loan Servicing Collections Specialist)
- Delinquency Notice generation and mailings (in the absence of the Loan Servicing Collections Specialist)
- File and document scanning for collections
- Processing and report OOPS for negative checking accounts (in the absence of the Loan Servicing Collections Specialist)
- Handling Fresh Start loan qualifications & document creation (in the absence of the Loan Servicing Collections Specialist)
- Assist with Retail Modifications, including but not limited to preparation, maintenance, and verification
- Credit reporting disputes
- Processing and tracking of all charged off consumer loans
- Processing and tracking of all charged off checking accounts
- 1099c tracking and preparation for accounting
- Process all loss claims on damage and total losses on vehicles and file GAP claims as needed
- HOI Cancellation tracking and force placement
- Report to the Loan Servicing Manager on issues that arise and assist with management duties in the absence of the Loan Servicing Manager
- Performs other servicing functions as assigned if needed
KNOWLEDGE, SKILLS AND ABILITIES:
- Excellent customer service skills
- Excellent communication skills
- Strong attention to detail
- Ability to utilize Windows Operating System and Microsoft Office products
COMPETENCIES NECESSARY TO BE SUCCESSFUL IN THIS POSITION:
- Accountability - Willing to accept responsibility for their own work. Understands and has consistent adherence to the bank’s policies and procedures.
- Adaptability – Adapts to changing work environments, work priorities and organizational needs. Able to effectively deal with change and diverse people.
- Analytical Skills - Ability to use thinking and reasoning to solve a problem.
- Communication - Excellent verbal and written communication skills and having the ability to communicate at all levels.
- Customer Service - Ability to provide excellent internal customer service in a timely manner while following bank policies and procedures. Interacting with customers, department and other departments in a courteous, professional & knowledgeable manner.
- Detail Oriented - Ability to pay attention to the minute details of a project or task.
- Initiative - Ability to make decisions or take actions to solve a problem or reach a goal. Willingness to seek out and take responsibility for additional work assignments. Taking action to advance job knowledge.
- Interpersonal Relationship – Expresses thoughts and reacts positive in difficult or stressful situations. Willingness to cooperate with co-workers and manager(s) to accomplish a common goal. Capacity to create a positive work environment. Demonstration of commitment to the organization by actively and positively supporting management decisions. Responsive to suggestions for improvement and change. Capable of communicating effectively on all levels with courtesy and tactfulness.
- Job Knowledge – Ability to make sound decisions drawing on knowledge and experience. Capable of analyzing and resolving customer or work-related issues. Understanding of current bank technology and initiative in learning new bank technology.
- Motivation - Ability to inspire oneself to reach a goal and/or perform to the best of their ability.
- Organized - Possessing the trait of being organized or following a systematic method of performing a task.
- Problem Solving - Ability to find a solution for or to deal proactively with work-related problems.
- Quality / Quantity of Work – Produces acceptable amount of work within established time limits. Maintains a high quality of work as quantity increases. Is thorough in review of their work. Looks for ways to continually improve productivity.
- Team Oriented – Ability to work together with other members of the department and bank to achieve a goal
- Time Management - Ability to utilize the available time to organize and complete work within given deadlines.
ADA REQUIREMENTS: Work is performed in a professional office environment. Role routinely uses standard office equipment such as computers, phones, copiers, scanners, printers, filing cabinets, and fax machines. Sitting for long periods of time; May be required to lift items weighing up to 25-lbs. Would require the ability to lift files, open filing cabinets and bend or stand as necessary. Reasonable accommodations may be made to enable qualified individuals with disabilities to perform the essential functions.
EQUAL EMPLOYMENT OPPORTUNITY POLICY: First Federal Savings Bank is proud to be an Equal Employment Opportunity and Affirmative Action employer. We are committed to providing equal employment opportunities to all employees and applicants for employment and prohibits discrimination and harassment of any type without regard to race, color, religion, age, sex, national origin, disability status, genetics, protected veteran status, sexual orientation, gender identity or expression, or any other characteristic protected by federal, state or local laws. This policy applies to all terms and conditions of employment, including recruiting, hiring, placement, promotion, termination, layoff, recall, transfer, leaves of absence, compensation and training.
- This job description may not be all-inclusive. Employees are expected to perform other duties as assigned or directed by management. Job descriptions will be reviewed and may be modified when deemed appropriate by management. As business needs and staffing needs change, all positions at First Federal Savings Bank/Home Building Savings Bank are reviewed. Employee may be moved for business purposes to sustain business and staffing demands.
Must have 5 years of experience in collections related to the financial industry.
