Collections Specialist III

Posted:
12/6/2024, 4:37:32 AM

Location(s):
Delaware, United States

Experience Level(s):
Junior ⋅ Mid Level ⋅ Senior

Field(s):
Customer Success & Support ⋅ Sales & Account Management

Collections Specialist III- Late Stage Collections

Location: Hybrid. Must be able to report into the Millsboro, DE office on Tuesdays and Thursdays.

Department Hours: M-Th 8am to 9pm, Friday 8am to 5pm, Saturday 8am to 12:30pm. Must be able to work 1 night shift a week and occasional Saturdays.

Overview:

Manages complex accounts with the following areas of specialization: Foreclosure, Bankruptcy, REO/Property Preservation, Repossession, Remarketing, Legal Liaison or Post Charge Off Collections.

Primary Responsibilities:

  • Initiate contact with consumer borrowers that are in the mid to late stages of delinquency; assess the prospect of repayment, and arranging repayment schedules or other solutions such as: Loan Workout, Alternative Lending, Consumer Credit Counseling Services, Reages, or Extensions.
  • Initiate contact with customers’ attorneys and Bankruptcy trustees.
  • Investigate and conduct skip tracing as required.
  • Submit recommendations for account placement with third party collection agencies, attorneys, brokers, and property preservation firms.
  • Initiate direct contact with borrowers (consumer, mortgage, deposit overdraft, business banking), assessing the prospect of repayment, arranging repayment schedules or other solutions.
  • Contact business partners and vendors to ensure services provided are meeting predetermined service level agreements.
  • Participate in loss prevention by employing advanced strategies that provide adequate protection for M&T with respect to its interest in the collateral securing the loan, while maximizing the cost containment opportunities.
  • Review collateral condition and establish asset value. Negotiate sale with prospective buyers and conclude sales transaction with limited oversight.
  • Develop an understanding of the business and its functions, processes and operations.
  • Keep abreast of business and market trends that may affect business department.
  • Adhere to applicable compliance/operational risk controls in accordance with Company or regulatory standards and policies.
  • Maintain M&T internal control standards, including timely implementation of internal and external audit points together with any issues raised by external regulators as applicable.
  • Promote an environment that supports diversity and reflects the M&T Bank brand.
  • Complete other related duties as assigned.

Scope of Responsibilities:

This position works under general supervision and has autonomy when performing skip-trace.

In addition, this position does have the authority to waive late fees, within guidelines.

Education and Experience Required:

A combined minimum of 3 years’ higher education and/or work experience including a minimum of 1 year experience in customer service, customer-facing, collections, call center or sales.

Experience with word processing, spreadsheet and presentation software.

Detail oriented.

Strong verbal and written communication skills.

Education and Experience Preferred:

Knowledge of M&T Bank systems.

M&T Bank is committed to fair, competitive, and market-informed pay for our employees. The pay range for this position is $18.57 - $30.95 Hourly (USD). The successful candidate’s particular combination of knowledge, skills, and experience will inform their specific compensation.

Location

Millsboro, Delaware, United States of America