Position Title

Small Business Collections Specialist

Location

New York/1400 Broadway/114025

Job Summary

Coordinate collection process for small business loans and home equity loans. Correspond with attorneys and Lenders, make recommendations on the recovery of funds and negotiate workouts.

Pay Range: $30.00 - $42.57 - $55.13

Job Responsibilities:

Monitor daily delinquent loans, Monitor the over the credit limits, the Overdraft portfolio and coordinate with various PCG on appropriate action.Review and approve signed documentation, such as Forbearance Agreement or settlement agreement, verified complaint, summons, Judgment - update accounts status records - prepare and present reports on Collection activities and progressConfer with Private Client Group Directors on personal overdraft that reach 40  days and above and business overdraft that reach 70 days and above.Prepare, submit and follow up on packages to lawyers on PPP /SBA loan, Commercial and Consumer loans and Overdraft portfolio accounts - Comfortable working with Clients and Negotiate and approve settlement between clients and attorneys.  Resolve Clients credit issues and Contact clients to discuss their past due payments also Meet clients at bank location to discuss pay off options. Analyze credit, financial statements and tax documents and recommend a payment plan.Visit law offices to pick up checks, or documents  as needed. Participate in quaterly meeting for Watchlist Heloc portfolio -Update monthly past due report and 45 days OD report - Monitor, prepare monthly GL reconciliation reports for the Collection Dept.Prepare delinquent letters for clients prior of referring to legal - Quarterly update the Foreclosure Home Equity 1st position with the New York State website. Performed Monthly property inspection on the Foreclosure Heloc in 1st positionActs as back up to manager when out of the office.

REQUIREMENTS:

4-5 years in collections, servicing, loan processingCollege Degree or equivalent financial analysis work experience requiredKnowledge of collection and credit laws, regulations, practicesMust be able to collaborate and negotiate with clientsMust be proficient in Microsoft Word and ExcelExcellent communication (written and verbal) required