Mid Penn Bank · 2 months ago
Asset Recovery Specialist - Harrisburg, PA
Harrisburg, PA, US
Full-time
Onsite
Mid Level
3+ years expMid Penn Bank is actively seeking an Asset Recovery Specialist to join their team. This role is responsible for performing collection and administrative duties that impact the asset recovery function, including communicating with delinquent borrowers, resolving misapplied payments, and contributing to the overall soundness of the loan portfolio.
BankingFinanceFinancial Services
No H1B
Responsibilities
Communicates with delinquent borrowers in attempting to obtain late payment, using various means of contact such as telephone, letters, emails, personal face to face meetings; utilizes effective human relations skills and various forms of persuasion to present a positive company image in a typically adverse situation
Contributes to the soundness of the installment loan portfolio through prompt collection of delinquent accounts
Utilizes methods of asset recovery under terms of the loan contract, depending on the feasibility and applicability of each case if initial recovery attempts do not secure required payment; extends due dates or refers customers to proper lending personnel for refinancing of delinquent loans; repossesses collateral on secured items if the delinquent situation requires such action
Reviews company records and transactions to resolve misapplied payments, researching account transactions to ensure that payments are properly credited; evaluates payments (scheduled and unscheduled) being made on delinquent accounts and determines how the payment will be applied, i.e., principal, interest, escrow, and late charges, or if the payment is unacceptable
Locates customers with whom the company has lost contact; tactfully, resourcefully, and within the Fair Debt Collection Guidelines, tries to probe for information leading to the location of the delinquent customer. Uses company provided data research services to locate customers
Responds to inquiries relating to his/her particular area, or to requests from other company personnel, customers, etc., within given time frames and within established policy
Actively seeks and engages in learning and development opportunities to ensure peak performance by completing and/or demonstrating the following: Partners with manager to complete a written Individualized Development Plan that aligns with achieving current performance expectations and supporting potential career goals. Applies newly learned knowledge and skills on the job. Shares information with others that may benefit from his/her expertise. Seeks coaching and feedback to ensure high performance
Maintains control over delinquencies with respect to a satisfactory percentage of past-due accounts as defined in the department’s plan
Plays an active role in protecting the organization and its customers against fraud by incorporating risk awareness and prevention into daily responsibilities
Notifies customer of his/her rights and amount due or any further obligations, if applicable
Contributes to the company's growth and customer satisfaction by helping customers to resolve problems with their consumer loans
Analyzes the borrower's financial situation and advises the borrower concerning possible options; recommends adjustment procedures to be followed or appropriate action to be taken
Receives and reviews daily a computerized listing of all assigned delinquent loans or works daily from an assigned queue in designated software
Coordinates the collections of past due accounts with Financial Center Managers, Loan Officers and Portfolio Managers
Achieves goals assigned to the Asset Recovery Officer as part of the assigned department’s annual operating plan
Documents all collection actions taken, such as telephone conversations, alternative financial arrangements made, letters mailed, and so forth, within designated software platform
Establishes and maintains records relating to delinquent loan accounts; updates delinquent account files with relevant documents supporting various legal and collection methods such as a foreclosure
Proficient using Microsoft office products such as Microsoft Word and Microsoft Excel to create and maintain documentation, memos, and reports for use by management
Maintains appropriate records and provides assigned reports
Qualification
Required
A high school diploma or equivalent
A minimum of three (3) years' related experience normally required
Proficient reading, writing, and grammar skills
proficient mathematics skills
proficient interpersonal relations and both verbal and written communicative skills
a thorough knowledge of regulations affecting the resource recovery function
ability to sit, stand, walk, bend, stoop, reach with hands or arms, use hands to manipulate objects, handle or feel, and lift items weighing 20 lbs. or less
visual, auditory and speaking skills
valid driver's license is required
Preferred
specialized resource recovery training
Benefits
Medical plans with prescription drug coverage
Flexible spending account
Dental and vision insurance
Life insurance
401(k) program with employer match and employee stock purchase plan
Paid time off
Paid holidays
Disability insurance coverage
Parental leave
Employee assistance program
Tuition reimbursement
Participate in mentorship programs
Receive individualized development and career counseling
Participate in Mid Penn University courses and development programs
Company
Mid Penn Bank
Mid Penn Bank is a bank that specializes in banking and investment services.
501-1000 employees
Funding
Current Stage
Public CompanyTotal Funding
$85M2024-11-01Post Ipo Equity· $70M
2020-03-20Post Ipo Debt· $15M
1997-05-07IPO
Leadership Team
Rory Ritrievi
President and CEO
Jordan D. Space
SEVP, President of the Private Bank and Chief Operating Officer of the company
Recent News
2026-01-09
2026-01-05
2025-09-26
Company data provided by crunchbase