Collections Representative

Overview:

Assumes responsibility for all debt collection functions for consumer, residential, and commercial loans; monitors and communicates with defaulted borrowers and management on a regular basis to resolve defaults.

Primary Accountabilities / Responsibilities:

1. Monitors monthly delinquency reports to evaluate delinquent portfolio and determine the appropriate course of action for each loan.
2. Contacts delinquent borrowers both in writing and via telephone in an effort to determine the cause of the delinquency and how best to resolve the delinquency.
3. Maintains records of all contact with borrowers including maintaining logs of all phone conversations with borrowers.
4. Works with borrowers who anticipate a future delinquency; makes recommendations to management to modify or restructure debts when advisable.
5. Prepares loan files to be sent to bank’s legal counsel for foreclosure. Works with bank’s legal counsel through the foreclosure process. Responsible for OREO properties, including securing property, utilities, insurance, listing property, and sale.
6. Works with Insurance Clerk to obtain homeowner’s insurance on all lapsed files. Issues and tracks force placed insurance notices; keeps thorough records of attempts to contact customer before force placed insurance is ordered. Schedules and sends annual force placed insurance notices. Makes force placed insurance recommendations to management when borrowers fail to obtain insurance.
7. Works with customers that have had property damage and have received insurance payments. Opens escrow agent accounts when appropriate and manages the disbursement of funds as work is complete. Monitors files from the claim through the completion of the repairs, obtains inspections as necessary and collects Mechanics’ Lien Waivers.
8. Works various files where the property taxes, condo association fees or special assessments have gone unpaid to resolve liens that may result in a foreclosure action.
9. Monitors and reports all defaults to the appropriate insuring agency such as - - private mortgage insurers.
10. Processes all insurance claims for - privately insured loans.
11. Works with management to secure, protect and maintain all REO property through the resale process.
12. Monitors all bankruptcy filings, working with the bank’s legal counsel to assure borrower’s compliance with the courts payment plan.
13. Responsible for staying current on debt collection laws, bankruptcy laws and default resolution procedures that are being used in the marketplace. Responsible for keeping abreast of all - private mortgage insurance claims processing procedures.
14. Works on various assignments in the Loan Servicing Department as needed for such tasks as Escrow Analysis, Loan Processing, Insurance Tracking, etc.
15. Assumes additional responsibilities as requested by Senior Vice President of Lending.

Knowledge/Skills/Experience Requirements:

Knowledge of loan documents, accuracy, strong organizational skills, strong communication skills, knowledge of Excel, Word, Outlook and Windows.

Competencies Required:

• Customer Focus
• Results Oriented
• Adaptability
• Collaboration
• Communication
• Composure
• Innovation
• Self-Development

Work Environment/Physical Demands/Condition Requirements:
Busy office environment, with moderate noise: computers, printers, phones, and light traffic.
Must be able to focus and not be easily distracted. Must be able to sit for at least 70% of the
workday. Some movement is required to retrieve files, etc. Must be able to see computer
screen and read documents.

Equipment Used:

General office equipment: Computer, Telephone, Mobile devices, Scanner

Information Security

Responsible for actively protecting the confidentiality of customer information and computer systems used in the bank by:

• Remaining alert to and reporting malicious or suspected malicious email.
• Participating in training opportunities to ensure continued protection of customer data.
• Provide feedback where possible to help improve the Bank’s security culture.

Responsible for maintaining confidentiality of all sensitive information.

Compliance:

Satisfactorily completes all required compliance training and complies with all regulations which apply within the scope of the position.

Torrington Savings Bank is an equal opportunity employer and offers equal opportunity to all applicants for all positions without regard to race, color, religion, national origin, age, disability, and veteran status.

Applicants requiring reasonable accommodation in the application process should notify Human Resources.

Torrington Savings Bank is a drug free workplace.

Torrington Savings Bank participates in e-Verify

EOE/AA/M/F/D/V