SPECIAL ASSETS / COLLECTIONS
FLSA STATUS: Exempt
REPORTS TO: Chief Lender
SUPERVISES: Potentially Other Collection Personnel
Responsible for the effective management of a portfolio of commercial loan work-out relationships with a moderate level of complexity. Oversees action plans with specific resolution target dates and ensures prompt recommendations on adjustments for risk ratings, loss recognitions or write offs and accrual status. Use of professional knowledge, experience, analytical criteria and financial statements to make decisions. Complying with operating policies and procedures; communicating with appropriate personnel; responding to inquiries or requests for information; maintaining an ongoing awareness of new business opportunities.
- Organizes, manages, reports on collection activities of all of the bankís charged off, collection & liquidation portfolios.
- Monitors the collection of and ensures the correct application of recovered funds. Coordinates the proper implementation of workout plans with loan review, accounting and other relevant departments.
- Participates in the bankís development of collection policies and procedures for foreclosure, credit for payment of delinquent accounts, and other default procedures.
- Reviews the delinquent loan status for the bank, contacting those delinquent account holders through telephone calls, letters & personal visits.
- Approves subordinate personnel collection activities regarding workout of loan payments on delinquent accounts, assisting in procedures as necessary.
- Directs foreclosure of delinquent accounts determined to be unresolvable, ensuring that all proper documentation is accounted for and all data are properly entered.
- Works with other departments within the bank to regarding litigation and foreclosure activities.
- Oversees foreclosed properties for proper management and regular inspections, as well as tax and insurance payments.
EDUCATION/TRAINING/EXPERIENCE/SKILLS NECESSARY TO PERFORM SUCCESSFULLY
- Bachelorís degree preferred, (Business Administration, Finance, Accounting, Management)
- Five years of related collections experience
- Solid understanding of banking policies and procedures
- Strong working knowledge of loan restructuring and re-negotiation of interest rates, terms, collateral requirements, documentation and loan agreements
- Solid knowledge of cash management services and related areas
- Excellent managerial, communication & public relations skills