Commercial Recovery Officer

SUMMARY

The Commercial Recovery Officer performs collection services on charged off loans.

Responsible for maximizing recoveries from business loan charge offs.

EDUCATION AND EXPERIENCE REQUIREMENTS

High School diploma or equivalent Bachelor’s degree in business or equivalent education and related training preferred Three years of business lending experience a plus Effective and professional phone communication skills with internal and external customers required In-depth understanding and knowledge of financial institution’s products and services Must be able to handle and resolve customer inquiries and issues Thorough knowledge company product and services, policies, procedures and collections systems Excellent understanding of State and Federal regulations governing collection practices Excellent understanding of judicial and legal system as to debt collecting and obtaining and tracking judgments Successful completion of in-house training or mentoring program Excellent communication and public relations skills Ability to handle the resolution of issues requiring problem solving and decision making and escalate to higher authority when necessary  Participate and complete all required compliance training, including Bank Secrecy Act/anti-money laundering training, as well as internal and external training programs, online training, meetings, and seminars/conferences, etc. Working knowledge of collection processes and laws governing collections Strong negotiating skills Demonstrated proficiency in basic computer applications, such as MS Office products

JOB FUNCTIONS

Maximize recovery from business loan charge-offs and deficiencies from sales of foreclosed business properties through diligent servicing and pursuit.  Work with the Special Assets Officers, Loan Officers, and the Recovery Departments to ensure the repayment or liquidation plan will result in the highest possible net recovery to the Bank.   Establish contact with clients, attorneys, and all others involved in the recovery process to ensure the effective and efficient recovery of all business loan charge-offs. Prepare recovery plans on all business loans charged-off and assess the borrower’s ability to generate income sufficient to repay existing and proposed debt. Review and analyze the quality of the financial position for the business and the guarantor(s).  Conduct research of balance sheets, income statements, cash flows credit bureaus, credit reports, and tax returns for the ability to repay or negotiate settlement. May have responsibilities associated with problem loan resolution Does skip tracing to locate debtors we have been unable to locate Does asset searches to determine collect ability of a charge off  Initiates a small claims suit when deemed necessary  Engages law firms when needed to pursue judgments on larger charge-offs  Negotiates settlements Tracks and post recoveries  Responsible for tracking and renewing judgments Performs other duties as assigned

SUPERVISORY RESPONSIBILITY

N/A

WORK ENVIRONMENT

United location within the footprint

POSITION TYPE

This is a full-time position that requires schedule flexibility to work evenings and weekends as needed.

TRAVEL

This position may require occasional travel.

OTHER

We are an Equal Opportunity Employer and do not discriminate against any employee or applicant for employment because of race, color, sex, age, national origin, religion, sexual orientation, gender identity and/or expression, status as a veteran, and basis of disability or any other federal, state or local protected class.

Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

The job description is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities that are required of the employee. Other duties, responsibilities and activities may change or be assigned at any time with or without notice.

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