Identify, monitor, recommend and execute action on non-performing accounts. Must balance financial risks/rewards to Bank with working with and meeting the needs of the customer. Objective is to minimize loss and/or maximize return on investment through prompt and appropriate loss mitigation. Use strong negotiation skills and interpersonal skills, while adhering to all applicable guidelines, requirements and regulations. Maintain contact and follow through to ensure appropriate resolution.
Non-Performing Account Resolution (60%)
Analyze varying customer issues/inquiries and non-performing accounts to determine appropriate solutions
Contact past-due customers and execute established procedures for the successful resolution of non-performing accounts, adhering to all applicable investor guidelines, requirements and regulations
Respond to past-due customer-initiated requests and work with customer to resolve delinquency in a manner beneficial to all parties
Negotiate the delinquent account resolution by balancing the financial risks/rewards to the bank with working with and meeting the needs of the customer
Apply skip tracing techniques and strong negotiation skills when required
Keep management apprised of complex or high-risk situations or issues
Build and maintain constructive relationships with internal and external business partners, suppliers, vendors and regulatory officials
Stay abreast of and incorporate changing regulations and procedures and ensure compliance
Monitoring and Follow-up (40%)
Maintain accurate and timely information and records in Bank systems
Analyze pertinent reports and function-specific data/metrics to identify delinquencies, default, foreclosure and other non-performing accounts
Provide courteous and timely follow-up to calls and correspondence.
Monitor proceedings in accordance with bank policies and applicable state and federal laws and guidelines
Maintain contact with past-due customers throughout resolution process to ensure appropriate follow-through and resolution
Knowledge & Skills:
Working understanding of Consumer Collections and relevant function areas, including regulatory and consumer guidelines, pertinent documentation and initiatives (for example, property appraisals, Broker Price Opinions, Service Alignment Initiatives)
Working knowledge of federal, state/provincial and local laws pertaining to Consumer Collections and functional area
Familiarity with auto dialers and dialing platforms
Excellent oral and written communication skills
Strong negotiation and skip tracing skills
Strong interpersonal skills
Strong customer service orientation
Keen analytical skills, attention to detail and ability to work independently
Effectively deals with change and shifting priorities
Strong and decisive problem solver
Proven ability to work effectively in a fast paced and stressful environment
Proven ability to multitask, prioritize workload and meet deadlines
Proficient knowledge of function-specific software and computer programs
Proficient PC skills, including but not limited to Microsoft Excel, Word, Access, etc.
Education & Experience:
Bachelor’s degree preferred, or 1-3 years of Collections experience in lieu of degree
Minimum of 2 years of experience in specific area of Collections Minimum of 2 years of experience in specific area of Collections
Skilled Knowledge and Proficiency Level:
High level of proficiency
Receives general instructions on routine work
Moderate complexity; exercises judgment within established policies/procedures
We’re here to help
At BMO Harris Bank we have a shared purpose; we put the customer at the center of everything we do – helping people is in our DNA. For 200 years we have thought about the future—the future of our customers, our communities and our people. We help our customers and our communities by working together, innovating and pushing boundaries to bring them our very best every day. Together we’re changing the way people think about a bank.
As a member of the BMO Harris Bank team you are valued, respected and heard, and you have more ways to grow and make an impact. We strive to help you make an impact from day one – for yourself and our customers. We’ll support you with the tools and resources you need to reach new milestones, as you help our customers reach theirs. From in-depth training and coaching, to manager support and network-building opportunities, we’ll help you gain valuable experience, and broaden your skillset.
To find out more visit us at https://bmoharriscareers.com .
BMO Harris Bank is committed to an inclusive, equitable and accessible workplace. By learning from each other’s differences, we gain strength through our people and our perspectives. BMO Harris Bank is an Equal Opportunity Employer for all, inclusive of Minorities, Women, Veterans, and Persons with Disabilities.
United States-Iowa-Cedar Rapids