Debt Recovery Associate

Debt Recovery Associate

Position Summary:

The Debt Recovery Associate is responsible for communicating with delinquent customers and devising repayment strategies or settlements to maintain the bank's loan portfolio.

Main Responsibilities and Functions:

• Handles both outbound and inbound calls to resolve overdue non-real estate and/or real estate accounts while investigating reasons behind the delinquency.
• Oversees the processing, distribution, and posting of payments for indirect loans.
• Administers loan file maintenance duties.
• Performs telephone payment processing to ensure accurate financial reconciliation at the corporate level.
• Provides financial advice to customers and suggests potential alternatives and solutions.
• Maintains meticulous records of account statuses and collection actions within the bank's system.
• May require working outside standard 8-5 hours for collection purposes.
• Ensures all departmental operations and documentation comply with applicable laws, regulations, policies, and procedures, including completion of mandatory compliance training.
• Demonstrates knowledge of central operating systems.
• Performs additional tasks as assigned, such as training new team members, monitoring the general inbox for Consumer Collections, managing Total Loss/Captive Claim accounts, overseeing Debt Management accounts/spreadsheet, and supporting the implementation of Policies and Procedures.

Qualifications:

• Aptitude in understanding and processing simple guidelines, brief letters, and informal memos.
• Ability to interpret and analyze financial reports and legal documentation.
• Skill in drafting straightforward business correspondence and routine reports.
• Effective written communication for addressing customer complaints, regulatory bodies, or business contacts.

Education And/Or Experience:

• HS Diploma/GED.
• Six to eight years of collections experience, or equivalent ability to perform essential duties effectively.

Computer Skills:

• Proficiency in MS Word, Outlook, Excel, and the Jack Henry platform.

Other Qualifications:

• Exceptional telephone communication and customer service skills.
• Strong verbal and written communication abilities.
• Excellent organizational skills.
• Proficiency with Microsoft Office applications.
• Consistent and punctual attendance.
• Professional and approachable demeanor.

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