Job Information
NBT Bank Collections Manager in Norwich, New York
Pay Range: $80,310.00 - $107,221.00
Management of a collections & Special Assets department to mitigate losses and reduce delinquencies of consumer loans and residential mortgages. Recommends processes to reduce Delinquency and Charge offs, assists in ensuring appropriate reporting of Charge Offs and Non-Accruals in accordance with banking regulations. residential foreclosures, OREO, bankruptcy tracking, collection of charged-off deposit accounts and consumer loans Assists with managing and performing updates to the Collections System and other Department Technology as required. Assists with producing Delinquency and Production Reports for the Collections Department. Manages, evaluates and mentors staff providing administrative support for similar functions assigned to Commercial Workout Officers. Responsible for compliance with all State and Federal laws, regulatory requirements and Bank Policy. Approves recommended strategies for foreclosures and OREO and directly handles more complex situations. Assists in the preparation and monitoring of the charge-off, loan collection expense and OREO expense budgets and oversees the preparation and distribution of appropriate reports. All other duties as assigned
Education / Experience
Five or more years’ experience in consumer collections or in the legal field
Bachelor’s degree preferred or equivalent education and work experience
Management experience preferred
Knowledge, Skills and Abilities
Knowledge of collection law and procedures.
Ability to effectively negotiate settlements.
Management and leadership skill with the ability to supervise staff.
Good verbal and written communication skills.
Tasks Performed:
40% Management of the collection of past due consumer loans and residential mortgage loans in accordance with all state and federal regulations. Reviews and approves all recommendations to commence repossession, foreclosure or legal action, or other strategies such as workout or forbearance proposals to reduce losses or maximize recoveries. Reviews with Loss Mitigation the potential for a forbearance or structure of a distressed mortgage. Reviews and approves the sale of OREO properties. Reviews and approves or recommends settlements with borrowers. Appears in court on behalf of bank as bank officer as appropriate.
30% Management of department responsible for residential foreclosures, Residential Loss Mitigation, OREO, bankruptcy tracking, collection of charged-off deposit accounts and consumer loans, as well as administrative support for similar functions assigned to Commercial Workout Officers. Provides day to day guidance to staff. handling the more complex matters and any situation that escalates, i.e.: complaints. Develop, train and mentor assigned staff. Conduct annual performance reviews.
10% Monitors the results of staff and agents working on behalf of the bank. Reviews past due reports for non-accrual and charge off recommendations to keep compliant with State and Federal regulations. Oversees the preparation and distribution of appropriate reports. Continued review of all positions for efficiency and compliance with Federal and State regulations. Responsible for preparing documentation for regulatory bodies, internal and external audit, mortgage servicers, and portfolio managers.
10% Assists with the development and monitoring the consumer collections budget. Measure actual results against budget projections.
5% Assists in the preparation and monitoring of the charge-off, loan collection expense and OREO expense budgets.
5% Other duties as assigned.
Unique Job Characteristics and Requirements:
NMLS Certification required or ability to obtain upon hire. May require weekend hours, and hours outside of regularly scheduled workday. Some travel required. Valid driver's license.
Applicants must be authorized to work for any employer in the U.S. We are unable to sponsor or take over sponsorship of an employment Visa at this time.
NBT Bank offers a stimulating work environment that recognizes talent and encourages teamwork. Our employees benefit from a total compensation package, including competitive salary, bonuses and a wide range of benefits for eligible employees - like our Student Loan Repayment Program. Join NBT Bank and build your career through the many growth, learning and collaborative opportunities made available across the company.
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NBT Bank is an equal opportunity employer and fully supports a diversified environment. We do not discriminate against any applicant or employee because of race, color, religion, sex, national origin, age, disability, sexual orientation, marital status or veteran status, recently separated veterans, genetic information, victims of domestic violence and stalking or any other class protected by Federal, State or local law. This policy applies to all terms of employment.
NBT Bank is inclusive and supportive of individual needs. If you have a physical or other impairment that might require an accommodation, including technical assistance with the Careers website or submission process, please call 1-888-804-1771 or contact us via email at humanresources@nbtbank.com. The Human Resources Shared Service Center hours of operation are Monday through Friday, 8:00 AM to 5:00 PM EST.