Collections Specialist

POSITION SUMMARY

The Collections Specialist is responsible for managing early-stage residential and consumer loan delinquencies, contacting borrowers to resolve past‑due accounts, and ensuring all collection activities comply with bank policies and regulations. This role supports documentation, research, and loss‑mitigation tasks while providing excellent customer service and helping identify needs for bank products and services.

• Assist in managing the bank’s collection efforts for loans up to 90 days past due to ensure timely payments and minimize losses.
• Conduct active collection activities—including phone calls and written correspondence—in accordance with bank policy and federal and state regulations.
• Monitor status of delinquent loans, maintain regular communication with borrowers, and recommend payment plans to the Loan & Collections Officer as appropriate.
• Maintain accurate documentation and records for all collection activities and provide periodic status updates to the Loan & Collections Officer.
• Respond to inquiries from customers, lenders, and third‑party vendors concerning loan account status.
• Assist with monthly reporting and compile information for attorneys and third parties as necessary.
• Track incoming tax and sewer liens, prepare and send required correspondence, and communicate with town tax collectors.
• Assist in monitoring deceased borrowers and support the Loan & Collections Officer in resolving these accounts.
• Review and track bankruptcy notices and maintain related documentation.
• Conduct research through the Maine Registry of Deeds and Maine Probate websites to support collection and collateral efforts.
• Collect documents from customers and prepare letters to aid in proper tracking in the loss‑mitigation process.
• Stay abreast of current regulatory requirements for loan collection activities and implement operating changes as necessary to ensure continued bank compliance.
• Remain aware of all matters that are in the late stages of delinquency (bankruptcy, foreclosure, etc.).
• Comply with all federal and state banking regulations and all bank and department operating policies and procedures.
• Provide administrative assistance to the Loan & Collections Officer and back up when necessary; meet or exceed established objectives and standards for Collections Specialist performance.

• Maintain knowledge of current KSB products and services.
• Actively utilize bank products and services to fully understand features and benefits and to communicate effectively with customers and prospective customers.
• Talk to customers, listen for cues and clues to determine needs; respond to inquiries and evaluate their needs; suggest bank products/services to meet their needs; make referrals to other bank personnel as appropriate.

• Actively participate in community organizations and events, represent the bank in the community, and monitor participation by branch/lending staff.
• Support the bank’s Community Reinvestment Act (CRA) efforts and activities.

• Actively participate in industry trade group meetings and educational programs to remain abreast of current issues and requirements affecting bank operations and job performance.

• Demonstrate reliable attendance and punctuality.
• Handle telephone inquiries and provide information to customers, vendors, and other departments in a professional and courteous manner.
• Attend and participate in bank meetings.
• Attend internal and external trainings to improve skills and knowledge relevant to the Collections Specialist position.
• Perform other duties as required.

• None

• Education:
  
  Bachelor’s degree with concentration in business or finance and/or equivalent work experience.
• Experience:
  
  1 to 3 years’ experience in residential, consumer, and commercial loan origination and servicing, with specific experience in collections desired; background in loan collections and commercial work‑outs.
• Strong written and oral communication skills.
• Strong analytical and organizational skills.
• Ability to deal with people in a confidential, supportive, and…