Senior Recovery Resolution Specialist - Fleming Island, United States - First Citizens Bank

Description

Overview:

The Senior Recovery Resolution Specialist collects retail and business loans that have been placed in charge-off status at an advanced recovery rate.

Focuses on mitigating bank losses through the collection, negotiation, and repayment of loans after charge-off.

Works closely with borrowers, management, and attorneys to create action plans for delinquent loans, coordinating settlements or liquidation of assets as necessary.

Provides training to new associates and participates in special projects to facilitate workflow and recovery goals. This position will be focused on bankruptcy and litigation.


Responsibilities:
Collection

• Coordinates loan portfolio collection efforts whether that be a repayment plan, settlement, or liquidation of collateral.

Documents efforts and conversations in the event legal action is necessary. Engages and manages third party companies that collect on charged-off loans. Coordinates with third party agencies on the assignment, repossession, or liquidation of loan collateral. Maintains higher than average annual recovery goals.
Negotiation

• Assists in the negotiation of new terms for borrower repayment.

Works closely with borrowers or their attorneys on settlements, short sales, or deed in lieu of foreclosure to satisfy loan payments. Provides guidance to less experienced specialists on difficult negotiations.
Research

• Determines borrowers' ability to pay prior to formulating a plan for collection.

Reviews personal statements including tax returns and credit reports, and initiates contact with borrower to gather information on financial position.
Business Support

• Provides training to new associates and supports management in their absence.

Manages the department warehouse log in regards to the shipment and receiving of files.
Legal Action

• Assigns cases to attorneys when filing suits to obtain judgement or execute against an existing judgement on a borrower.

Reviews documents provided by Bank or borrower's attorney to confirm accuracy and ability to file suit.


Qualifications:
Basic


Qualifications:
Bachelor's Degree and 1 years of experience in Banking or Finance Collections OR High School Diploma or GED and 5 years of experience in Banking or Finance CollectionsKnowledge of the Fair Debt Collection Practices Act (FDCPA), Fair Credit Reporting Act (FCRA), Unfair, Deceptive, or Abusive Acts or Practices (UDAAP), and the Telephone Consumer Protection Act (TCPA)Negotiating skillsSelf-directed work ethicDemonstrated ability to make important decisions in a work settingPreferred


Qualifications:
Prior bankruptcy experience