Consumer Loan Workout Specialist

Purpose : The Consumer Loan Workout Specialist is responsible for the final disposition of charged off consumer and BBU debt to ensure maximum recovery of loan losses.

Essential Functions :

• Conduct systematic review of charged off Consumer, Residential and BBU loans. Develop and implement workout strategies and plans for in-house recovery of losses; analyze best practice and best courses of action for the maximum recovery through : referral to attorneys, credit collection agencies, and other 3rd parties
• Facilitate and direct the final disposition efforts with attorneys, collection agencies, credit bureaus, outside legal counsel and other 3rd parties. Prepare and forward referrals and supporting documentation. Recommend summary judgments, Confessions of Judgment, and Stipulations. Follow up to ensure prompt placement and perform due diligence to guaranty the timely processing of Demands, Summons & Complaints, Judgments, and other enforcement options.
• Perform as liaison to attorneys, trustees, courts, and collection agencies to provide on-going instruction, follow-up and record updating and all communication. Convey expectations for performance. Collaborate with internal and external clients as well as outside counsel and advisors on a daily basis.
• On a quarterly basis request, review and analyze attorney and agency performance through : on-line access when available; activity reports; and actual account review. Perform on-going instruction with instructions for additional work; follow-up and record updating, document all communication - verbal and written. On an annual basis, assist in the physical audit of attorney firms and collection agencies.
• File claims with courts : Bankruptcy, and Estate. Prepare and submit. Follow up to ensure timely receipt and filing. Contact Attorneys and Trustees to resolve questions and disparities in proposed plans.
• Analyze and interpret Credit Bureau reports, Business Bureau reports, and financial statements as well as other pertinent data to identify attachable assets.
• In structuring workout options, effectively negotiate repayment strategies, educate and counsel debtors on options and the implementation process for each option along with repercussions when further defaults occur.
• Research, analyze and resolve Credit Bureau disputes and Consumer complaints. Maintain all documentation and activity logs.
• Review and approve all attorney and agency remittances to ensure payments and fees are accurately presented. Closely monitor third party payments and fees to ensure maximum monetary return.
• Demonstrate the standards and principles of the Five Star Bank experience in every interaction with internal and external customers, associates, and stakeholders. Incorporate the high-performance behaviors of teamwork, leading by example, and service in every facet of work.
• This job description is not exhaustive. The Consumer Loan Workout Specialist may be required to perform other duties as assigned.

Job Related Qualifications - Education and Prior Experience :

Required :

Competencies :

Physical Requirements :

occasionally

Evenings : Occasionally

Benefits :

This job description is not exhaustive. The Consumer Loan Workout Specialist may be required to perform other duties as assigned.The expected rate of pay for this position is shown above. Compensation offers are based on a wide range of factors including relevant skills, training, experience, education and, where applicable, licenses or certifications obtained. Market and organizational factors are also considered. In addition to your base rate of pay and a competitive benefits package, successful candidates may be eligible to receive cash or equity-based incentives based on the role and performance.