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First Commonwealth Bank · 4 months ago

Borrower Assistant Representative I

Indiana, PA

Full-time

Onsite

Entry Level

1+ years exp

First Commonwealth Bank is seeking a Borrower Assistant Representative I to join their Special Assets Department. In this role, you will engage with borrowers to resolve debt repayment issues and support collection efforts on past-due accounts through various communication methods.

Banking

Responsibilities

Performs tasks necessary to support the collection and recovery efforts on past-due consumer loans, Direct Installment Loans, Indirect Installment, Charge Cards, Mortgages, HEL, and Personal Credit Lines accounts

Uses Collection System to determine priority of assigned delinquent loans and works to maintain a satisfactory percentage of past-due accounts

Locates and contacts delinquent borrowers in order to secure payments and bring accounts to current status; tactfully probes for information leading to the location of the client and collateral, if appropriate

Initiates contact with clients via telephone, letter, and other forms of communication as needed and enters detailed notes and system codes in the Collection System of all actions taken

Establishes and maintains records relating to delinquent loan accounts and updates files to indicate the date(s) payment(s) received

Evaluates clients’ financial strength and capacity to repay outstanding debt

Works with borrowers toward resolution, offers alternate courses of action and/or uses methods of recovery acceptable under terms of loan contracts

Reviews bank records and transactions to resolve misapplied payments, researches to ensure payments are properly credited, evaluates regular and irregular payments to determine how to apply, i.e., principal, interest, escrow, and/or late fees

Contributes to the bank’s growth and client satisfaction by helping clients resolve problems with their banking transactions

Informs clients of amount due, disposition of assets, and any further obligation

Works with Department Manager prior to charge-off, making specific recommendations, in order to develop a plan to minimize loan loss, which could include reduced future payments

Acquires and maintains knowledge of regulations affecting the recovery function, such as Fair Debt Collection Practices Act, as well as bank products and their benefits