SCS Loan Servicing Specialist (Part-time, 32 hours)

Employer
Alerus Financial
Location
Oakdale, Minnesota
Salary
Join our team!

Job Details

Position Summary:
This position is responsible for servicing assigned past due loans, resolving problem loans, making overdraft decisions, and recovering value through collateral repossession and institution of legal proceedings. This position handles a wide range of accounts, loans, and leases.

Essential Responsibilities:
Job Function 1: Servicing Assigned Defaulted and Problem Accounts
  • Initiate outbound contact with customers whose credit accounts are in default.
  • Negotiate default cure that is mutually acceptable to Alerus and the customer.
  • Review consumers application for loss mitigation assistance and ensure proper follow up/decision making in accordance with CFPB Regulation X, Part 1024.41
  • Obtain and analyze information on assigned customers and use the analysis in proposing and implementing plans for curing defaults.
  • Prepare and utilize written default cure plans on small business accounts that exceed policy-determined thresholds.
  • Initiate outbound follow up contact to maximize success from servicing activity.
  • Accurately document the outcome of all customer contact using the collections system.
  • Skip Tracing and asset searches.

Job Function 2: Determine Impaired Value of Defaulted Loans
  • Propose non-accrual and charge off recommendations to management per policy.
  • Ensure rationale for the proposal is accurately documented.
  • Ensure non-accrual and loan charge offs are processed in a timely manner.
  • Move balances to OPP and ORE per loan policy
  • Utilize auto auction run lists and prior sales to help determine collateral value. If values can not be determined, utilize Kelly Blue Book, NADA, and/or Black book
  • Order valuation/appraisals on real estate backed loans and order title reports (O & E)
  • Document impaired value determinations using the collections customer contact systems.

Job Function 3: Recover Value Through Appropriate Collection and Initiation of Judicial Processes
  • Initiate outbound contact informing customers of potential account acceleration and other collection action.
  • Engage outside legal assistance with repossession of collateral, foreclosure of real estate, and reduction to judgment on unsecured loans.
  • Engage services of repossession agents for the purpose of obtaining pledged collateral.
  • Remarketing of repossessed collateral.
  • Manage bank owned properties for liquidation.
  • Obtain repo titles and resolve any title issues with the appropriate DMV office.
  • Coordinate and propose compromise settlements under the direction of the SCS Retail Loan Collections Manager or SCS Manager.
  • Handle all bankruptcy filings.
  • Obtain necessary small business administration approval for servicing actions.
  • Assign accounts to appropriate outside attorneys and collection agents.
  • Maintain record keeping on attorney and outside agent assignment.

Job Function 4: Primary Back Up for the Administration of Overdraft Programs for Accounts that are not Assigned a Business Advisor
  • Review overdrawn accounts that have not been assigned by a Business Advisor on a daily basis make pay or return decisions using Alerus established policy and criteria.
  • Approve or deny fee waiver requests using Alerus established criteria.
  • Initiate outbound customer contact to obtain payment or convert overdrawn accounts to an overdraft loan.
  • Initiate closure on overdrawn accounts on under an overdraft loan and on defaulted overdraft loans.
  • Monitor accounts for suspicious activity such as kiting and initiate action to protect the Bank against avoidable loss on such suspicious accounts.
  • Enter and remove customers from Chex system.

Position Requirements:
Qualifications:
  • High school diploma, GED, or equivalence required.
  • College degree with focus on Finance, Banking, or related field preferred.
  • Previous direct bank collections experience preferred.
  • Must have experience working with an email client (Lotus/Outlook), MS Word, MS Excel and internal and external company databases.
  • Demonstrated knowledge of bankruptcy including chapter types, what each chapter accomplishes, automatic stay, & proof of claim.
  • Demonstrated knowledge with foreclosure, repossession, replevin, FDCPA, State and local collection laws.
  • Experience with mortgage servicing.

Personal Characteristics:
  • Strong customer relationship skills.
  • Must possess strong written and oral communication skills.
  • Ability to maintain and present a professional demeanor.
  • Attention to detail.
  • Strong work ethic and organization.
  • Alignment with company core values.

Physical Demands - Must be met with or without a reasonable accommodation:
  • Extended periods of time sitting at a desk and using office equipment.
  • Ability to operate a personal computer/laptop for approximately 8 hours per day.
  • Extended time is spent reviewing physical and electronic documents.
  • The employee is occasionally required to stand, walk, reach with arms and hands, climb or balance, and to stoop, kneel, crouch or crawl. Vision abilities required by this job include close vision.
  • Periodically, may also do light lifting of supplies and materials which weighs in at approximately 20 lbs.
  • Will spend most of time in an indoor environment.

Alerus Financial is an Equal Opportunity Employer of women, minorities, protected veterans and individuals with disabilities.

Company

Alerus is a company that will challenge you to be at your best and where your efforts have real, tangible effects. Our culture is one of collaboration, innovation, forward-thinking, and giving back. And, as a growing company with a presence in markets from New Hampshire to Arizona, we offer a broad range of opportunities for you to travel the career path that matches your abilities, interests, and goals.

What is the current company culture like?

While our footprint spans North Dakota, Minnesota, Arizona, New Hampshire, and Michigan, we still operate like a small company. In other words, every single person on our team matters. Our employees create our culture.

What skills, education, and experiences does your ideal candidate(s) have? Each position has their own specific requirements and qualifications. In addition to those, Alerus seeks people who live out our fundamental beliefs every day: do the right thing, cherish people, empower with knowledge, respect everyone, serve with passion, and embrace change.

How would you describe the company leadership/team management? Alerus has a diverse executive and leadership team. Each leader comes with a wealth of experience and knowledge within their field to help their teams succeed. Alerus leaders, including our C*Suite executives, maintain regular communication with employees on company updates and goals.

Where do you see the company/organization in the upcoming years? Alerus has bank and office locations in North Dakota, Minnesota, Michigan, New Hampshire and Arizona. While we continue to serve our clients in these states we also look to grow our national footprint to best serve clients wherever they may live.

What do you feel candidates need to know about the company before applying? Alerus is more than just a bank and offers many products for our clients including personal & business banking, mortgages, wealth management and retirement savings. We continue to grow and expand but still maintain and operate with a small business feel. We would not have continued success without our employees and all the hard work they do to serve our clients with passion.

See the current Alerus job openings below!

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