Collections Support Specialist - Billings, MT

  • First Interstate Bank
  • Jan 14, 2022
Full time Banking Finance

Job Description

SUMMARY

The Collections Support Specialist position is responsible for oversight of policies and procedures, monitoring of all collection regulations for compliance and audit, matrix development and monitoring, system and process improvement, quality standards, and call quality reviews within the Collection Department encompassing Consumer, Home Loans (Mortgage) and Payment Services (Credit Card).

 

ESSENTIAL DUTIES & RESPONSIBILITIES include the following; other duties may be assigned.

Policy, Procedures, Regulatory, Compliance/Audit

  • Review and/or update Collection policies and procedures thoroughly at least once per year or as required by changes in system technology, regulation, internal practices and processes, or identify ongoing training needs; develop a plan and materials to deliver training
  • Work directly with compliance and audit to identify regulatory changes impacting collections
  • Understand all CFPB, FDCPA, Dodd Frank, loan, credit card, and mortgage regulations and how these impact our collection activity; provide updated training to collectors

 

Process Improvement/System Administration, Training

  • Develop efficiencies within the collection department by streamlining and combining processes currently in place for each collection line
  • Work closely with system administrators to make sure all technology that is available for each system is being utilized, and identify possible updates and enhancements to the system technology
  • Represent Collection in acquisition meetings; determining needs of and impact to the Collection team for all acquisitions regarding loan, cards, and mortgage collections

 

Measurement, Reporting, Quality Control

  • In conjunction with management, develop service objectives around quality and quantity of work
  • Develop and monitor reports monthly for service level and productivity
  • Conduct monthly quality call reviews on all collectors  to ensure call quality is maintained at the highest levels
  • Review results with management to ensure all opportunities for development are addressed

 

Investor Guidelines/government agencies

  • Keep updated on all regulatory and compliance requirements and implement actions to ensure all requirements are met.

 

Vendor Management

  • Act as agency point of contact and contract negotiator; conduct annual agency examination and provide insight into related agency collections.
  • Work with FIB Vendor Management area for oversight and guidelines
  • Maintains all 3rd party contracts and contact and provides ongoing oversight and follow up as related to the work performed by 3rd parties.  Interfaces and partners with the corporations Vendor Management area for oversight and follows established guidelines.

 

QUALIFICATIONS 

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

 

EDUCATION and/or EXPERIENCE

Bachelor’s degree and four or more (4+) years’ experience (collections, compliance, audit, policy and procedure development, training development, quality oversight, regulatory and compliance regulation, vendor management); or equivalent combination of education and experience.

 

OTHER SKILLS & ABILITIES

Good personal computer skills with demonstrated knowledge of Microsoft EXCEL, WORD, and e-mail; self-starter and works with minimal direction; good verbal and written communication skills; Interpersonal skills and team orientation; Ability to meet deadlines; ability to appropriately escalate issues requiring problem solving and decision making; experience in an automated collections environment highly desirable

 

LANGUAGE SKILLS

Ability to read, analyze, and interpret statistics and data, financial reports, and legal documents.  Ability to respond to inquiries from regulatory agencies. Ability to effectively present information to management and other internal FIB resources as required.

 

MATHEMATICAL SKILLS

Ability to work with basic mathematical concepts.

 

REASONING ABILITY

Ability to define problems, collect data, establish facts, and draw valid conclusions, document and report. Demonstrates critical thinking tendencies to address problems decisively and to propose long term, sustainable solutions. Accepts shared ownership and accountability for results.

 

PHYSICAL DEMANDS 

While performing the duties of this job, the employee is regularly required to talk, hear, stand, walk & use hands to finger, handle, or feel.  The employee frequently is required to sit.  The employee is required to reach with hands and arms and stoop, kneel, crouch, or crawl.  The employee may lift and/or move up to 25 pounds. 

 

WORK ENVIRONMENT 

The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.  Hours of operation may be adjusted from time to time to maximize recovery efforts. 

 

The noise level in the work environment is usually moderate.