Workout & Collections Representative

Avidia BankEqual Employment Opportunity/M/F/disability/protected veteran statusDescription: Position Overview:As part of the Workout team, the representative will reduce the bank’s exposure to loss in consumer/residential loans, commercial loans and OREO properties. Coordinates and executes action plans and provides liaison between management, loan officers, collection personnel and loan operations and borrowers. Primary Responsibilities:Performs any functions necessary, within scope of authority and expertise, to provide the highest level of service and responsiveness to customers:Directly or in conjunction with the Workout Manager, manage delinquent and classified loans by borrower and third-party contact to: Review, analyze, and correct any structural or documentation deficienciesFacilitate collection of PMI, Forced Place insurance claims and real estate tax delinquencies Execute FNMA collection and modification proceduresCreate and/or maintain files for consumer/residential and commercial loan workout customersReviews delinquency reports and makes collection calls where needed and as directed by the Workout ManagerWork with loan officers to track reason for delinquencyIdentify items that can be offset with deposit accountsGenerates personalized form letters and mails letters to customers who cannot be contacted directly by the collector.Reviews delinquency reports and sends the necessary counseling letters to those customers who are in default.Works closely with borrowers who are unable to meet loan payments to determine appropriate solutions to address the problem. Propose and/or implement solutions with management approvalIdentify all delinquent GSE loans and ensure that collection activities follow the prescribed guidelines as defined by the appropriate GSE (FNMA, etc.) Document collection activities according to guidelines.Process skip payment requests from borrowers who may need brief payment relief, following through from initial request to finalization and execution of the request by Loan Operations.Research and document loan payment history requests and all aspects of a loan as necessaryTracks through and resolves any disputes in payments to the satisfaction of the customer and the bankTrack bankruptcy filingsFiles any correspondence in the particular loan file folders.Review non-accrual report and update loan statuses when needed and as directed by the Workout ManagerAssist in preparation of demand letters as directed by the Workout ManagerAssist in preparations of foreclosure packages Prepare charge-off approval forms as directed by the Workout ManagerAssists in preparation of Small Claims noticesAssists with tracking and logging recovery paymentsAssistance in management Other Real Estate Owed (OREO) properties owned by the Bank or its affiliate including:Create and maintain OREO filesCoordinate payment and tracking of OREO billsInteraction with attorneys and other consultants/vendors as needed to minimize loss/maximize recovery on loans and OREOCoordinate with the bank’s operations departments to implement agreed upon plans.Attends appropriate seminars to increase knowledge of collections and the laws that relate to collections.Other Responsibilities:Perform related and unrelated duties as may be required. Requirements: Qualifications:High School Diploma or equivalent plus three years of banking experience in a financial institution.Ability and willingness to contact customers on a “cold-call” basis.Thorough knowledge of the bank’s loan products.Thorough knowledge of the state and federal regulations governing collections processes, specifically the Fair Debt Collections Practices Act under the FTC and the separate Commonwealth of Massachusetts provisions of the Fair Debt Collections Practices Act.Ability to communicate effectively, both orally and in writing.Ability to communicate tactfully with customers who may be in stressful situations and who may not want to respond to the bank’s legitimate need to contact them.Some flexibility with the work week and the ability to work some Saturdays.The ability to work independently in a deadline driven environment.Submit, track and log all department invoices to AvidXchange Identify OREO expenses versus workout expensesAttach appropriate workout expenses to the associated loan in FISComputing proficiency including MS Word, Excel, Outlook; FIS or other bank core processing systems.Avidia Bank is an Equal Opportunity Employer/Veterans/DisabledMember FDIC/DIFPM21PI7413a87c4201-35196-38597624