Recovery Officer Jobs (NOW HIRING)

Description

Our Asset Recovery Officers are responsible for tracking, managing, restructuring, and collecting problem loans as assigned; complying with operating policies and procedures established for the loan workout function; communicating with appropriate personnel; responding to inquiries or requests for information; maintaining appropriate records and providing assigned reports.

Essential Duties:

• Analyzes assigned problem loans and determines the most effective method for maximizing financial recovery.
• Discusses collection strategies with Asset Recovery Manager and lending officers.
• In conjunction with the Asset Recovery Manager, negotiates restructuring of credit and repayment terms with customers, attorneys, and representatives of other creditors and lending personnel from other companies to secure appropriate workout arrangements; maintains regular communication with attorneys and customers.
• Monitors adherence to terms of workout agreements.
• Evaluates collateral position to better secure loan and establish recourse to other borrower assets against the possibility of charge off.
• Monitors the sale of repossessed items through auction or other means.
• Coordinates the timely purchase of SBA guaranteed loans and reimbursement of qualified expenses from SBA.
• Calculates and submits required documentation for SBA portion of recoveries.
• Attends bank foreclosure sales and administers bank-owned property (i.e. obtains insurance coverage, shows property to prospective buyers, lists property with realtor, follows up on maintenance concerns, attends closings, etc.)
• Works with Bank's internal Asset Recovery Department, Loan Administration Department, outside auditors, and outside examiners regarding problem loans.
• Assists in the development and maintenance of a sound credit policy which is consistent with the Bank's philosophy of lending.
• Assists with reviews of past-due and criticized loan reports, supervisory examination reports, and other sources of information for possible downgrading of deteriorating situations.

Benefits Offered to Peoples Security Bank Employees

**Our College Tuition Reimbursement Benefit can help you achieve your long-term career and educational goals**

• Medical Plans
• Dental Plan
• Vision Plan
• Life Insurance
• Disability Insurance
• 401(K) Plan
• ESOP Plan
• Paid Time Off
• Paid Holidays
• Voluntary Time Off
• Employee Assistance Program
• Banking Classes
• Internal Advancement Opportunities

Peoples Security Bank and Trust Company is an Equal Opportunity Employer

Company Overview

Since 1905, community has and always will be our purpose. We were founded on the principle to be a bank that people can trust. We would not be where we are today without the dedication that our employees have had since we first opened our doors. Our values still hold true to this day and we are making strides to continue to grow with our amazing team.

• Integrity - it is our foundation, the basis of everything we do. We strive to be professional, honest, trustworthy, confidential, and respectful at all times.
• Excellence - to do things better, exceeding expectations
• Teamwork - working together for a common good, engaging our customers, coworkers, and partners
• Efficient - we will strive to manage our expenses
  

We believe our team is what makes our organization successful. Hearing their stories show a path of growth and enrichment in their careers. Every single team member truly makes a difference within our company and we're grateful for each employee who chooses to work with us.

Requirements

Education/Training: A B.S. or B.A. degree in a related field of study normally required; specialized loan workout education/training.

Skill(s): Must demonstrate strong communication skills; proficient interpersonal relations skills; proficient financial statement analysis skills; thorough knowledge of bank lending principles, policies, and practices; knowledge of current lending and loan workout laws and regulations; moderate PC skills.

Experience: A minimum of five (5) years' related experience normally required. 

Physical Requirements: The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this position. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. While performing the essential job functions of this position, the employee is regularly required to sit, stand, talk, hear, walk, use hands and fingers, handle or feel objects, and reach with hands and arms. At times required to stoop, kneel, bend, crouch and lift up to 25 pounds. This position requires regular use of a computer.