Collection Adjuster 2 - Consumer, Rochester, New York

Position Title: Collection Adjuster 2 – Consumer

Reports To: Consumer Collection Manager

Department: Retail Lending – Collections

FLSA Status: Non-Exempt

Purpose: The Consumer Collection Adjuster 2 is responsible for managing delinquency to acceptable levels in accordance with established Department goals and objectives. Must strictly adhere to all Bank policies and procedures, in addition to all State and Federal mandates and requirements. This position will work with a more seriously delinquent borrower and will be expected to utilize advanced skills and techniques. This position will provide financial counseling and will create and implement structured repayment plans to bring the borrower’s loan status to a current standing. Offering counseling, providing guidance and suggestions, will be the goal for encouraging a future banking relationship with the borrower.

Supervisory Responsibilities:

Degree of Supervision Received: Moderate

Degree of Supervision Given: None

Essential Functions:

1. Contact delinquent borrowers to arrange for timely repayment. Most of the contact is initiated through telephone contact. Letters, and approved e-mails are other permissible contact options. A measurable goal is the expectation for borrower contact via telephone: Example – An average of 110 calls per day.
2. In-depth and thorough research utilizing advanced skills and techniques is required. Verify information that is obtained with every interaction. Utilizes advanced authorized collection practices when attempting to locate borrowers and collateral. Skip tracing skills, and tools, approved social media outlets, and conversations with authorized references and third parties are routine efforts to be practiced. Fully, clearly and concisely document all borrower interactions and conversations. Fully document and disclose all collection activity.
3. Must possess expert knowledge of regulations governing collection activity such as, but not limited to: FDCPA, SCRA, Privacy, Fair Lending, and Identity Theft. Must ensure strict adherence that is critical to avoid sanctions, fines and penalties both from a Bank and personal liability standpoint.
4. The ultimate goal is the immediate collection of payments at the conclusion of every interaction with scheduling an electronic payment. A measurable goal is the expectation for acquiring electronic payments. Example – 200-250 per month. Authority to create and recommend re-payment plans that will cure delinquency and prevent loss. Resolution of delinquency includes: immediate research and replacement of NSF items and rejected electronic payments; referring suspicious activity to management; referring potential collateral jeopardy situations to management; recommending prompt and early repossession efforts; resolving Deceased and Total Loss claims; proactively responding to Impound notices to recover our collateral and avoid unnecessary fees; and identifying and reporting possible fraud situations. Reduce delinquency-Minimize losses.
5. Define problems, collect data, establish facts. Promptly respond to all inquiries. Research borrower inquiries and resolve payment posting issues. Provide loan history information and explanations. Work closely with peers across the Bank to provide the best possible borrower experience. Develop solid working relationships with: Branches, Loan Servicing, Banking Center and Systems Analysts.
6. Educate borrowers on the resolution process. Provide assistance and alternatives, fully describe and detail eligibility for relief options: Extensions/deferments, government established relief programs, charitable organizations, and debt counseling agencies.
7. Maintain thorough knowledge of market conditions regarding collateral value, pricing and sale options. Study trends to be fully aware of changes in appraisals and inventory remarketing. Consider all information when recommending vehicles for repossession.
8. Provide background information after thoroughly researching customer complaints. Assist in drafting responses to complaints for submission to Compliance.
9. Must perform all tasks and responsibilities by working in a partnership with peers, management, Loan Servicing and Call Center teams. Values must align with working in a true team environment to consistently deliver a superior quality of service.
10. Demonstrate the standards and principles of the Five Star Bank experience in every interaction with internal and external customers, associates, and stakeholders. Incorporate the high-performance behaviors of teamwork, leading by example, and service in every facet of work.
11. This job description is not exhaustive. The Collection Adjuster 2 – Consumer may be required to perform other duties as assigned.

Job Related Qualifications – Education and Prior Experience:

Required:

• Education: High School Diploma or equivalent
• Prior Experience: 5+ years of Collection, Banking, Customer Service, Call Center, Sales, Auto Financing, Collection Agency, Law Firm, Credit Union

Preferred:

• Education: Associate Degree in business or related field
• Prior Experience: 5-7 years of Collection, Banking, Customer Service, Call Center, Sales, Auto Financing, Collection Agency, Law Firm, Credit Union, Paralegal, Prior Collection supervision, Recovery/Litigation experience.

Competencies:

1. Expert knowledge of the collection function and the regulatory environment.
2. Strong verbal and written communication skills. Excellent negotiation skills.
3. Proficient skills in Microsoft Office, Windows operating system, and Excel applications with the ability to learn new and existing Banking software.
4. Analytical ability to interpret data and to make sound decisions and logical recommendations. Excellent negotiation skills with the ability to overcome objections. Ability to use sound judgment and respond promptly in difficult time sensitive matters.
5. Ability to work in a fast- paced, high volume environment with specific measurement performance goals. Follow through, accountability, integrity, empathy, accuracy, attention to detail and problem solving are required skills. Highly refined organizational skills with the ability to multi-task and prioritize responsibilities. Must be able to meet strict timeframes and critical deadlines.
6. Flexibility and ability to adapt to new concepts, systems, and processes, in our ever-changing environment.

Physical Requirements:

1. Able to regularly sit for prolonged periods of time.
2. Extensive computer usage is required.
3. Ability to work:
   1. Evenings
      1. Occasionally
   2. Weekends
      1. Occasionally

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