What are the responsibilities and job description for the Loan Collection Specialist position at Sturdy Savings Bank?
This is an in-person position in Cape May Court House NJ with no opportunity for remote work.
About Sturdy Savings Bank
Sturdy Savings Bank has been providing personalized banking services to the communities it serves in Cape May and Atlantic Counties for more than 100 years. Founded in 1922, Sturdy Savings Bank has been built on the foundation of providing full-service banking and financing solutions to its customers, and supporting the community with donations, event participation and support.
At Sturdy Savings Bank, we believe our success begins with our team. We are proud to cultivate a supportive and inclusive workplace where collaboration and professional growth thrive. Our employees enjoy a range of benefits, from competitive compensation packages to opportunities for career development and advancement. Join us and be part of a company that values your skills, encourages your aspirations, and is committed to making a difference in our community.
General Job Description
Performs a variety of clerical duties related to the processing, administration, and collection of existing loans. Under general supervision, following established policies and procedures is primarily responsible for entering collection and loan insurance data into the Bank’s computer system with appropriate updating along with setting up and establishing an application file and for the day-to-day coordination of the collection process including notifying borrowers of overdue or irregular payments in an attempt to bring the loans current. Maintains detailed documentation for the collection accounts, prepares a variety of letters, forms, documents, and maintains logs and reports.
Education, Skills, and Experience Required:
- A college graduate (minimum of an Associate Degree, but preferably a Bachelor's Degree) or equivalent in lending/collection experience in order to deal effectively with new applicants as well as with delinquent customers.
- Two years of progressively additional responsibility in the lending function with adequate collection experience.
- Strong verbal and written communication skills and good organizational and public relations skills, particularly in working with documentation that requires special or confidential handling.
- A high level of interpersonal skills to gather data from a number of sources, conduct productive interviews via the phone and/or by personal interviews for applications and/or collections of accounts.
- Strong analytical ability to conduct an analysis of an applicant’s credit and income status and to recommend alternative solutions to resolving a delinquency.
- Ability to relate to and empathize with customers and branch staff.
- A knowledge of and possession of good collection techniques.
- Broad knowledge of lending operations and a good understanding of the Bank’s products and services.
- An extensive knowledge of the Bank’s lending policies and procedures.
