Collection Adjuster

Function:

Under supervision of Manager of Collections and Recovery, and in accordance with established policies and procedures, contacts holders of delinquent or problem consumer or residential loan accounts in an effort to resolve the delinquent status or problem. Maintains related records and prepares regular reports and summaries of delinquent/problem account activity. Responsible for maintaining delinquencies at acceptable levels, while supporting positive client relations. Ensures that collection activity is conducted within compliance of all state and federal banking laws and regulations, as well as the Collection Policies set forth by FSB.



 

Work Performed:

Essential Functions:

1. Contacts clients by telephone and discusses the circumstances causing the delinquent status of their account(s). Accounts are typically grouped as under 30, 30 to 59 and 60 to 89 days delinquent. Works with clients to resolve the delinquent status of account(s):

a. Discusses possible financial arrangements that would resolve temporary problems.

b. Informs them of potential legal actions.

c. May suggest financial counseling.



2. If unable to contact delinquent account holders by telephone, mails collection letters to them, informing them of their account status. Routinely mails reminder letters and past due notices to delinquent clients.



3. Maintains a high level of customer service at all times.



4. Reviews daily mail and documents payments received. Responds to client inquiries. Partial payments or potential collection problems may be reviewed with Manager.



5. Documents all collection/problem loan actions taken, such as telephone conversations, alternative payment arrangements made, correspondence sent, receipt of payments and so forth on computer or other designated system.



6. Attempts to locate and update addresses on returned mail by review of loan file, payment envelopes or other appropriate means. May prepare requests for address or phone changes.



7. Authorizes special entries to adjust or correct payment errors or other account problems. This may include preparing substitute payment tickets and processing deferments.



8. Researches for other bank accounts and determines balances for possible right of offset transfer, collecting NSF checks or automatic payment transfer shortages or errors.



9. Attends appropriate collection seminars and/or training sessions in order to become able to handle department routine during the absence of the Manager.



10. Processes payments for suspended and charged off (non-accrual) loans on the appropriate computer system.



11. Adheres to Freddie Mac Guidelines.



12. Work overtime as required to achieve established goals.



13. Performs other duties as assigned.



Non-Essential Functions:

1. Performs other related duties as assigned or directed.



Basic Qualifications:

· High School diploma or equivalent.

· Two (2) or more years experience in various lending operations/banking positions.

· Good typing and keyboarding skills.

· Proficient or must become proficient in Jack Henry, Outlook, Word, and Excel applications.

· Interpersonal skills to discuss sensitive financial situations in a tactful manner to resolve delinquencies/problems while maintaining the Bank's image and client good will.

· Excellent verbal and written communication skills to communicate with debtors, attorneys and management in attempting to resolve delinquency /problem situations over the telephone, in writing and/or in person.

· Requires decision making ability and ability to deal with all levels of employees from executive to staff

· Excellent organizational skills.

· Requires valid NYS operators license; CDL preferred.

· Requires normal auditory ability and visual acuity to perform in the field and office.

· Good problem solving and negotiating abilities, a well as good attention to detail.

· Sales oriented to promote and sell bank products and services.

· Ability to operate various types of office equipment, which includes but may not be limited to: telephone, copier, computer, and fax machine.

· Must maintain confidentiality at all times.

· Will be required to complete/achieve CORE competencies of position as set forth on the employee development outline.

· Ability to work independently and as a part of "The Team Concept" is vital.