Loan Workout Manager jobs in Altoona, PA

Altoona First is currently recruiting a Collections and Loan Servicing Manager to join our team. Responsibilities include managing collections to maximize financial resources and drive loan portfolio performance. You will also manage the Bank’s Loan Servicing function which includes the administration of loan escrow accounts, payment corrections, and other loan maintenance. This position reports directly to the Executive Vice President.

Areas of Focus:

• Communicate with delinquent borrowers in attempting to obtain late payments, using various means of contact such as telephone, letters and notices; utilize effective human relations skills and various forms of persuasion to present a positive Bank image in an already negative situation.
• Utilizes methods of resource 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 including repossessing collateral on secured items if the delinquent situation requires such action.
• Analyze the borrower's financial situation and counsel the borrower concerning possible options; recommend adjustment procedures to be followed or appropriate action to be taken.
• Review Bank records and transactions to resolve misapplied payments, researching account transactions to ensure that payments are properly credited; evaluate payments (regular and irregular) being made on delinquent accounts and determines how the payment will be applied, i.e., principal, interest, escrow, and late charges, or payment is unacceptable.
• Contributes to the soundness of the loan portfolio through prompt collection of delinquent accounts.
• Direct the foreclosure of non-resolvable delinquent accounts; manage repossessed and foreclosure assets; order appraisals, secure properties, and pay bills for ORE properties, etc.
• Perform legal responsibilities involving writ of executions and handle documents for subpoenas and hearings; investigate and searches for customer information for legal matters involving law enforcement; prepare all memos and figures for Solicitor in legal matter filings.
• Represent the Bank in court concerning legal processes of collections and other creditor/debtor situations.
• Respond, investigate, and file criminal complaints against all fraudulent activities and bad checks regarding customer accounts.
• Manage all bankruptcy communications with Attorneys and Debt Relief Agencies.
• Work closely with loan department personnel, along with customer service personnel, to integrate activities, provide quality customer service, and enhance internal operations.
• Provide direct customer service as it pertains to servicing all types of loans.
• Pay real estate taxes; prepare letters to tax collectors; contacts customers and tax collectors for tax bills; etc.

BS/BA in Finance or related area of study preferred. 5 years banking or collections experience preferred. Thorough knowledge of federal and state collection laws and knowledge of foreclosure procedures required. Excellent interpersonal relations, communication skills, and strong attention to detail are necessary.

If you are a problem-solver who is detail oriented and has a positive attitude we encourage you to apply.

Position Location: In-person at our Corporate Office in Altoona, Pennsylvania

Altoona First Savings Bank offers an excellent benefit package.

Altoona First Savings Bank is an Equal Opportunity Employer.