POSITION SUMMARY:

The Workout Manager is responsible for all aspects of the collection and recovery efforts of all commercial, consumer and mortgage loans. The Workout Manager is responsible for minimizing loss due to delinquencies and defaults on all bank loans as well as loans serviced by the Bank for investors and loan participants. All tasks are performed in compliance with the established Bank policies and procedures and in accordance with all Fair Lending Regulations.

ESSENTIAL FUNCTIONS & RESPONSIBILITIES:

• Responsible for all activities and procedures related to commercial, consumer and residential past due loans.

• Monitors and collects loan delinquencies. May call, write and/or interview delinquent customers to ensure timely payments or arrange for payment plans to bring loans current.

• Responds to all telephone inquiries promptly and courteously. Ensures that all customer complaints, requests and problems are handled in an efficient and timely manner. Follows-up to ensure that customers are satisfied with resolution and service.

• Executes all loss mitigation procedures in accordance with regulations, guidelines established by the bank and/or investor requirements including Fannie Mae and Freddie Mac.

• Recommends modifications, charge offs, foreclosure or other loss mitigation strategies when necessary. Works with Bank attorney to ensure all required steps are completed, including the cities/towns where mediations are required.

• Responsible for monitoring all bankruptcy filings of bank customers, working independently or with bank counsel to file proof or claim or other steps to protect the Bank’s rights in bankruptcy and report status to management.

• Handles Escrow Delinquency reports. Works with Borrowers, towns and cities to ensure all unpaid water/tax liens are paid.

• Monitors the weekly force-placed insurance reports. Work with borrowers and insurance companies to obtain updated policies. Only allow borrowers to be force placed when in fact they do not have active and current insurance coverage.

• Complete property inspections and inspection reports on delinquent loans.

• Monitor loan files for compliance with internal policies/procedures and Federal/State regulations. Prepare document request list and respond to audit and examination findings.

• Prepares and delivers reports and analytics to investors, management and Board of Directors documenting past due loan status, plan for resolution, collection efforts and watched asset updates.

• Performs reporting through various channels, including, but not limited to the Semi-Annual reporting to the Division of Banks, Foreclosure reporting, Investor delinquent reporting, and PMI delinquent reporting.

• Maintains ongoing knowledge of industry, investor and regulatory (state and federal) loss mitigation requirements, loan products, consumer collection and lending regulations, and trains other loan officers and bank staff as required. Attends periodic seminars.

• Recommends and implements appropriate changes to established policies and procedures.

• Performs related lending and administrative tasks as assigned. May provide assistance to Branch personnel regarding payment issues.

• Completes special projects and management reports as assigned.

• May cross train with other positions and/or functions as needed.

REQUIREMENTS (Knowledge, Skills, Abilities, and Education and/or Experience):

Knowledge

• Bachelor’s degree in business administration or related field

• Minimum 3-5 years’ experience in commercial, residential and consumer loan collections and loss mitigation

• 3-5 years managerial experience

• Strong knowledge and understanding of Fair Debt Collection Practices Act, Mortgage Servicing, and Secondary Market Requirements as they pertain to default management and loss mitigation

• Ability to work in a team environment, as well as independently with desire to learn and grow

• Must have the ability to define problems, collect data, establish facts, and draw valid conclusions

• Strong problem-solving skills.

• Excellent oral, written and interpersonal skills

• Attention to detail and ability to meet deadlines and deal tactfully with customers.

• Proficient computer skills including Microsoft Office.

NSB offers competitive benefits packages, which include the following:

• Medical, Dental and Vision on day 1 - no waiting period

• 401k with company match

• Paid Time Off - Vacation, Personal, Sick, Holiday

• FSA/DC/HSA Accounts

• Company Paid Short-Term Disability

• Company Paid Long-Term Disability

• Paid Family Medical Leave

• Company Paid Life & ADD

• Voluntary Life

• Tuition Assistance

• Hospital Indemnity Plan

• Employee Referral Bonus

• Employee Banking Discounts

• Supplemental Insurance Plans with AFLAC

• Pet Insurance

• Weekly Jeans Day Program

• Service Recognition Program

• Wellness Benefits including Weight Watchers, Mind & Body, Gym Memberships and much more!

At North Shore Bank, we are committed to creating a place as diverse as the communities we serve. Our core values shape the decisions we make every day and help to define our company culture and it is these values that comprise what we call, “well north of your expectations”. Our core values include leadership, integrity/transparency, respect, adaptability, collaboration, accountability, and empathy.

North Shore Bank is an EOE. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, or protected veteran status and will not be discriminated against on the basis of disability.

Monday - Friday

38.75 Hours