Job Description
Job Description
POSITION SUMMARY
The primary responsibility is to direct the management and risk mitigation of delinquent, seriously delinquent, and foreclosed assets. This individual is directly responsible for all collections, loss mitigation, formal workouts, charge-offs, and loan recoveries. Will also be responsible for the management and disposition of foreclosed properties in a timely, cost effective manner, minimizing financial losses to the Bank.
Reasonable Accommodations Statement
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. Reasonable Accommodations may be made to enable qualified individuals with disabilities to perform the essential functions.
ESSENTIAL FUNCTIONS
· Communicating regularly and effectively with mortgagors/lending customers that are seriously delinquent in order to identify and counsel borrowers on best workout options available.
· Obtaining all necessary documentation, including updated financial information and coordinating workouts with applicable internal departments.
· Negotiate workouts with all involved parties (borrowers, guarantors, investors, brokers, etc.) from initial workout request to final close of workout.
· Handle a more complicated level of workout cases such as loan modifications, short sales, Deed-in-Lieu, etc.
· Provide proper and timely response to mortgagors and lenders while communicating regularly and effectively with other departments.
· Complete documentation of workout efforts (including communications, reason for default, workout/payment plans, updated phone numbers and mailing addresses) and ensuring information is part of the permanent loan file.
· Handle communications with problem accounts, complaint calls, correspondence and train and delegate workout responsibilities as appropriate.
· Oversee the evaluation of non-performing loans (foreclosures) for OREO asset collections. Preserve and maintain REO property, direct property preservation activities, including security, maintenance, insurance, and clean up.
· Design and implement appropriate collection strategies to limit losses.
· Detect early warning signs, loan inherent deficiencies, and communicate problem assets, loan weaknesses to Chief Credit Officer for appropriate reserve allocation and loan risk rating levels.
Education: Bachelor’s Degree. Wide knowledge of loan collection techniques, policies, procedures, and principles of lending. Must be able to correlate varied data, draw conclusions, communicate effectively, and make recommendations as needed. Strong negotiation, influencing, and management skills. Working understanding of collection loans and regulations.
Experience: Minimum five years of related experience.
Computer Skills:
Wide knowledge of computer skills including Microsoft Office, Microsoft Word, Excel, PowerPoint, and Access.
Certificates & Licenses:
Applicable lending certifications.
Other Requirements: Must be familiar with lending functions in a financial institution setting. Have excellent verbal, written communication and organizational skills. Ability to resolve moderate problems with minimal guidance is necessary to carry out job tasks.
Company DescriptionFirst Northern Bank & Trust will remain an independent, locally owned and operated, tried and true community Bank. Our mission is to profitably serve the financial needs of the people and businesses in each of the eleven communities for which our retail network extends. The Bank will operate as it always has, in a highly prudent and conservative manner that enhances and secures shareholder value with minimal risk, while at the same time promoting a culture intensely focused on the customer experience; and on the retention and addition of long-term relationships through each of its customer interactions, one transaction at a time.
Our Vision Statement:
The vision of the Bank is to become the premier provider of community Bank financial services in each of the markets we serve. We will distinguish ourselves from our competitors by maintaining and marketing those traits, which make us a safer and more secure Bank than any of our peers, both local and national. Specifically, our Bank is extremely well-capitalized, with strong liquidity, in excess of most competitors. Profitable, sustainable, and natural-internal growth will result from a Bank-wide collective effort intensely focused on the “customer experience.” Sound proactive planning, vigilance, and execution, coupled with the continued development and daily improvement of our line and staff, will be the means through which we meet and exceed our goals.
Company Description
First Northern Bank & Trust will remain an independent, locally owned and operated, tried and true community Bank. Our mission is to profitably serve the financial needs of the people and businesses in each of the eleven communities for which our retail network extends. The Bank will operate as it always has, in a highly prudent and conservative manner that enhances and secures shareholder value with minimal risk, while at the same time promoting a culture intensely focused on the customer experience; and on the retention and addition of long-term relationships through each of its customer interactions, one transaction at a time.\r\n\r\nOur Vision Statement:\r\nThe vision of the Bank is to become the premier provider of community Bank financial services in each of the markets we serve. We will distinguish ourselves from our competitors by maintaining and marketing those traits, which make us a safer and more secure Bank than any of our peers, both local and national. Specifically, our Bank is extremely well-capitalized, with strong liquidity, in excess of most competitors. Profitable, sustainable, and natural-internal growth will result from a Bank-wide collective effort intensely focused on the “customer experience.” Sound proactive planning, vigilance, and execution, coupled with the continued development and daily improvement of our line and staff, will be the means through which we meet and exceed our goals.