Norwaysavings
Collections Manager – Norway Savings Bank
For The Life You Choose, A Career to Match….
Here at Norway Savings Bank, we strive to create a positive, team-based culture that leverages each person’s unique gifts and strengths and offers the support to achieve great things. A place where your unique being shines through.
If this sounds exciting to you, we would love to have you on our team!
We’re seeking a
Collections Manager
to join our team.
In this position, you’ll play a key leadership role in overseeing the Bank’s consumer collections efforts.
You’ll be responsible for guiding and supporting the Collections team while directing strategies to resolve past-due residential mortgages, home equity lines of credit, consumer loans, and overdraft lines of credit.
Additionally, you’ll conduct on-site visits to troubled real estate collateral to assess the Bank’s financial exposure and risk, and will also manage the sale of Bank-owned properties acquired through foreclosure or repossession. You’ll also deliver timely, accurate reporting and analysis to support executive decision-making and meet FDIC requirements.
With a strong focus on compliance, this role ensures all collection activities align with the Fair Debt Collection Practices Act and applicable state laws.
The location for this position can be either at our office in Portland on Congress Street, or at our main office in Norway, ME.
Essential Responsibilities
Manages assigned Collections personnel by making routine employment decisions, reviewing job performance and making salary recommendations.
Assigning work, providing training and guidance and advising subordinates as necessary.
Resolving routine personnel problems.
Participates in development of collection policies and procedures for foreclosure, repossessions, credit for payment of delinquent accounts, and other default procedures.
Ensures that all collection activity is done in a timely fashion and in compliance with the Fair Debt Collection Practices Act, as applicable and Maine & New Hampshire State Laws.
Provides management with accurate and detailed information regarding the status of all past due (30 days or more) consumer loans (installment, mortgage HELOCs and overdraft lines of credit) accounts, charged-off loan accounts, accounts in foreclosure, repossessions, pending loan sales, loan payment exceptions (modifications), various loan work out strategies and real estate tax liens.
Reviews the delinquent loan status for the bank, contacting those delinquent account holders through telephone calls, letters and personal visits.
Approves subordinate personnel collection activities regarding workouts of loans payments on delinquent accounts, assisting in procedures when necessary.
Makes on-site visits to personally inspect, photograph, and document the current condition of troubled real estate collateral, in an effort to assess the current dollar exposure and potential loss (if any) to the bank, should foreclosure become evident.
Coordinates and maintains property management for troubled loan collateral and foreclosed real estate.
Prepares necessary documents for foreclosure and/or repossession auctions. Acts as “bidder” at all foreclosure auctions held on the bank’s behalf, in compliance with bank policy.
Maintains and adjusts consumer loans for all non-accrual status in compliance with federal regulations and bank policy.
Maintains “Watch List” and adjusts risk ratings as necessary in compliance with federal regulations and bank policy. Maintains list of loans individually analyzed loans for eligibility and accurate calculation of reserves for the Allowance for Credit Loss (ACL). Coordinates with Finance Dept for monthly and quarterly CECL reporting.
Ensures accuracy and entry of all charge-off and recoveries to Abrigo and reconciles monthly with Finance Dept.
Ensures that all reserves, charge offs and risk rating changes are processed and maintained within the bank’s core banking system.
Ensures that real property is insured through “forced placed insurance” when necessary.
Ensures that year-end activity statements are properly maintained for non-accrual loan accounts and that 1099C (Cancellation of Debt) and 1099A (Abandonment or Acquisition) are for submission to the Internal Revenue Services as required.
Candidate Must Have
Bachelor’s degree preferred with 5+ years of previous mortgage experience in collections, foreclosure or loss mitigation
Demonstrated underwriting knowledge and/or experience
Excellent organizational skills with strong attention to detail, the ability to prioritize workflows and multi-task in a fast-paced environment
Top-notch written and verbal communication skills
Must possess a positive attitude and be willing to work as an effective team player
Strong interpersonal skills including, but not limited, to being a good listener with an acute ability to remain pro-active and decisive
Fluency in Microsoft Office products
160 hours of Paid Time Off per year, increasing with longevity
56 hours of Sick Time per year, increasing with longevity
11 paid holidays
Top tier full insurance benefits
Employer HSA contributions
401K with exceptional employer matching and employer contributions
Opportunities for growth and advancement
Comprehensive Wellness Program, including access to complimentary health coaching, on-site gyms, and monetary incentives for achieving wellness goals
A hands-on team that is committed to the growth and success of our employees
Working Conditions
Physical surroundings are generally pleasant and comfortable with minimal exposure to injury or other hazards.
Minimal physical effort required; normally seated with freedom of movement on a regular basis; handling of light materials and supplies.
External and internal applicants, as well as position incumbents who are or who become disabled as defined by the Americans with Disabilities Act must be able to perform the essential job functions (as listed) either unaided or with the assistance of a reasonable accommodation to be determined by management on a case by case basis.
Norway Savings Bank is an Equal Opportunity Employer.
Seniority Level Mid-Senior level
Employment Type Full-time
Job Function Accounting/Auditing and Finance
Benefits
Medical insurance
Vision insurance
401(k)
Tuition assistance
Disability insurance
Compensation Portland, ME $86,840.00-$130,000.00 1 month ago
#J-18808-Ljbffr
Here at Norway Savings Bank, we strive to create a positive, team-based culture that leverages each person’s unique gifts and strengths and offers the support to achieve great things. A place where your unique being shines through.
If this sounds exciting to you, we would love to have you on our team!
We’re seeking a
Collections Manager
to join our team.
In this position, you’ll play a key leadership role in overseeing the Bank’s consumer collections efforts.
You’ll be responsible for guiding and supporting the Collections team while directing strategies to resolve past-due residential mortgages, home equity lines of credit, consumer loans, and overdraft lines of credit.
Additionally, you’ll conduct on-site visits to troubled real estate collateral to assess the Bank’s financial exposure and risk, and will also manage the sale of Bank-owned properties acquired through foreclosure or repossession. You’ll also deliver timely, accurate reporting and analysis to support executive decision-making and meet FDIC requirements.
With a strong focus on compliance, this role ensures all collection activities align with the Fair Debt Collection Practices Act and applicable state laws.
The location for this position can be either at our office in Portland on Congress Street, or at our main office in Norway, ME.
Essential Responsibilities
Manages assigned Collections personnel by making routine employment decisions, reviewing job performance and making salary recommendations.
Assigning work, providing training and guidance and advising subordinates as necessary.
Resolving routine personnel problems.
Participates in development of collection policies and procedures for foreclosure, repossessions, credit for payment of delinquent accounts, and other default procedures.
Ensures that all collection activity is done in a timely fashion and in compliance with the Fair Debt Collection Practices Act, as applicable and Maine & New Hampshire State Laws.
Provides management with accurate and detailed information regarding the status of all past due (30 days or more) consumer loans (installment, mortgage HELOCs and overdraft lines of credit) accounts, charged-off loan accounts, accounts in foreclosure, repossessions, pending loan sales, loan payment exceptions (modifications), various loan work out strategies and real estate tax liens.
Reviews the delinquent loan status for the bank, contacting those delinquent account holders through telephone calls, letters and personal visits.
Approves subordinate personnel collection activities regarding workouts of loans payments on delinquent accounts, assisting in procedures when necessary.
Makes on-site visits to personally inspect, photograph, and document the current condition of troubled real estate collateral, in an effort to assess the current dollar exposure and potential loss (if any) to the bank, should foreclosure become evident.
Coordinates and maintains property management for troubled loan collateral and foreclosed real estate.
Prepares necessary documents for foreclosure and/or repossession auctions. Acts as “bidder” at all foreclosure auctions held on the bank’s behalf, in compliance with bank policy.
Maintains and adjusts consumer loans for all non-accrual status in compliance with federal regulations and bank policy.
Maintains “Watch List” and adjusts risk ratings as necessary in compliance with federal regulations and bank policy. Maintains list of loans individually analyzed loans for eligibility and accurate calculation of reserves for the Allowance for Credit Loss (ACL). Coordinates with Finance Dept for monthly and quarterly CECL reporting.
Ensures accuracy and entry of all charge-off and recoveries to Abrigo and reconciles monthly with Finance Dept.
Ensures that all reserves, charge offs and risk rating changes are processed and maintained within the bank’s core banking system.
Ensures that real property is insured through “forced placed insurance” when necessary.
Ensures that year-end activity statements are properly maintained for non-accrual loan accounts and that 1099C (Cancellation of Debt) and 1099A (Abandonment or Acquisition) are for submission to the Internal Revenue Services as required.
Candidate Must Have
Bachelor’s degree preferred with 5+ years of previous mortgage experience in collections, foreclosure or loss mitigation
Demonstrated underwriting knowledge and/or experience
Excellent organizational skills with strong attention to detail, the ability to prioritize workflows and multi-task in a fast-paced environment
Top-notch written and verbal communication skills
Must possess a positive attitude and be willing to work as an effective team player
Strong interpersonal skills including, but not limited, to being a good listener with an acute ability to remain pro-active and decisive
Fluency in Microsoft Office products
160 hours of Paid Time Off per year, increasing with longevity
56 hours of Sick Time per year, increasing with longevity
11 paid holidays
Top tier full insurance benefits
Employer HSA contributions
401K with exceptional employer matching and employer contributions
Opportunities for growth and advancement
Comprehensive Wellness Program, including access to complimentary health coaching, on-site gyms, and monetary incentives for achieving wellness goals
A hands-on team that is committed to the growth and success of our employees
Working Conditions
Physical surroundings are generally pleasant and comfortable with minimal exposure to injury or other hazards.
Minimal physical effort required; normally seated with freedom of movement on a regular basis; handling of light materials and supplies.
External and internal applicants, as well as position incumbents who are or who become disabled as defined by the Americans with Disabilities Act must be able to perform the essential job functions (as listed) either unaided or with the assistance of a reasonable accommodation to be determined by management on a case by case basis.
Norway Savings Bank is an Equal Opportunity Employer.
Seniority Level Mid-Senior level
Employment Type Full-time
Job Function Accounting/Auditing and Finance
Benefits
Medical insurance
Vision insurance
401(k)
Tuition assistance
Disability insurance
Compensation Portland, ME $86,840.00-$130,000.00 1 month ago
#J-18808-Ljbffr