Debt Management Specialist-Past Dues at Burke & Herbert Bank & Trust in Moorefield, West Virginia

Job Description:

Burke & Herbert Bank & Trust

Debt Management Specialist

CLASSIFICATION: Non-exempt

REPORTS TO: Director of Debt Management

DATE: January 3, 2025

JOB DESCRIPTION

Summary/Objective

This position involves managing and resolving outstanding debts owed to Burke & Herbert Bank. Professionals in this role work to recover overdue payments while maintaining positive relationships with customers and adhering to legal and regulatory requirements such as the Fair Debt Collection Practices Act as well as any other State and Federal laws.

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

1. Contact customers by telephone and discuss the circumstances causing the delinquent status of their accounts. Work with customers to resolve the delinquent status of accounts, discuss possible financial arrangements that would resolve temporary problems, inform them of potential legal actions, and suggest financial counseling to arrive at suitable payment arrangements.
2. Communicate with delinquent borrowers in an attempt to obtain late payments, using various means of contact such as telephone, recommending letters, and personal visits. Utilize effective human relation skills and various forms of persuasion to present a positive bank image in an already negative situation. Document all collection actions taken, such as telephone conversations, alternative financial arrangements made, and so forth.
3. Make recommendations of loan extensions or refinancing to Loan Officer under authority from Director of Debt Management.
4. Utilize methods of collection under terms of the loan contract, depending on the feasibility and applicability of each case if initial collection attempts do not secure required payment.
5. Submit accounts for foreclosure upon approval of Director of Debt Management
6. Assist with maintenance and resale of foreclosed (OREO) and repossessed items.
7. Verify all OREO property inspections reports have been completed and scanned to the file.
8. Process “OREO” (Other Real Estate Owned) Insurance forms and update as needed.
9. Process OREO property taxes
10. Review and submit foreclosed property/legal invoices for payment.
11. Process 1099-A Forms
12. Respond to Credit Bureau Dispute letters
13. Complete various past due letters as requested.
14. Prepare loan charge off forms
15. Process returned mail
16. Process “CARM” (Collection and Asset Recovery Management) payments.
17. Document all collection action in CARM and utilize CARM ticklers for detailed and close follow up
18. Maintain positive relations with all customers, discussing sensitive personal financial circumstances in a direct, yet tactful, manner.

Other Duties

1. Scanning, filing, and other clerical duties as assigned.
2. Report weekly to Director of Debt Management.
3. Assist with other team related duties as needed.
4. Perform other related duties assigned.

Skills/Abilities

1. Excellent computer skills (Microsoft Office, Advanced Microsoft Outlook).
2. Good verbal communication skills and proper telephone etiquette.
3. Strong organizational and negotiation skills.

Supervisory Responsibility

This position does not have supervisory responsibilities.

Work Environment

This job operates in an office setting, the opportunity to telework is not available. This role routinely uses standard office equipment such as computers, phones, photocopiers, filing cabinets and fax machines. Office environment with job duties conducted via telephone, face to face meetings, and on the computer.

Physical Demands

This position requires manual dexterity, the ability to lift files and open cabinets. This position requires bending, stooping or standing as necessary.

Travel

Limited travel will be required for this position.

Education and experience

1. High school diploma or equivalent
2. Previous collection experience a plus

Please note this job description is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities that are required of the employee for this job. Duties, responsibilities and activities may change at any time with or without notice.

This employer is an equal opportunity/affirmative action employer. All qualified applicants will receive consideration for employment without regard to sex, gender identity, sexual orientation, race, color, religion, national origin, disability, protected veteran status, age, or any other characteristic protected by law.

PI259241368

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