Collections Coordinator

SUMMARY: This position will support all Collections Department staff in various duties as required to ensure that the department runs effectively. This includes interacting with both external clients and internal personnel in person, over the phone or through written correspondence. Primary duties will include understanding client issues, researching problems and developing/implementing appropriate actions to resolve issues. Additionally, this position will need to have a strong understanding of how "collection transactions" impact the Bank from an accounting standpoint, and be able to generate data and reports on demand in order to validate collection transactions.

ESSENTIAL DUTIES AND RESPONSIBILITIES:

• Responsible for processing and reviewing all file maintenance transactions within the Collection Department, and repossession process specifically.
• Collect and check all paper work necessary to process repossessions (Note, Buyer's Order, Title, Insurance, Loan History)
• Complete necessary repossession letters in accordance with provisions of Ohio Revised Code and when working with out of state repossessions, work with counsel to ensure all letters meet specific state requirements.
• Send all documentation necessary to transfer the collateral into the Bank's name. Assist in scheduling the auction of the collateral, and monitor and track the liquidation process
• Process the auction proceeds that are received from the liquidation of the Bank's collateral, and ensure that all requisite bookkeeping / loan accounting is completed on a timely basis, which may include charging off any deficiency balances
• Adhere to and follow the guidance in OCC 2000-20 and bank policy with respect to charging down the Bank's collateral to the Fair Market Value less the cost to sell.
• Process charged-off loan payments. When applicable, process and scan all recovery checks that are received, whether such checks come from the sale of collateral, a debtor, a Bankruptcy Trustee, or a recovery received from outside legal counsel
• Scan documents to 404 system when necessary.
• Work with counsel to complete and send Deficiency/Surplus Letters (both in Ohio and other states) to all borrowers
• Identify whether the Bank can mitigate its losses by researching whether the debtor has GAP Insurance or Service Contracts that can be canceled and refunded to Farmers when applicable, cancel those contracts through correspondence and contact with the dealership where the debt was originated
• Track the expenses related to the repossession of the Bank's collateral and ensure that those costs are properly accounted for in the applicable General Ledger.
• Process all monthly bills that come into the department, such as attorney bills, E- Oscar bills, and foreclosure bills
• Processing all incoming checks
• Run Non-Post Reports each day and correct any errors from the day before; process payments made on charged off loans that are set to Non-Post
• Run and review the Cash Items Report and reverse any payments impacted by those cash items
• When necessary make adjustment to credit reporting fields in Navigator to ensure compliance with FCRA.
• Process all Settlements, whether such Settlements are negotiated by Bank management or the Bank's counsel. Track those Settlements to ensure that 1099 -C's are issued in accordance with IRS guidelines
• Assist as necessary with purging accounts
• Train additional associates as backup, as needed
• Track all incoming and outgoing files from the department
• Sort all incoming department mail
• Complete all mandatory and elective training, including BSA (Bank Secrecy Act) and Anti-Money laundering procedures. Maintain compliance with all appropriate rules and regulations
• Regular, predictable attendance is an essential requirement of this position
• Complete all other duties as assigned

EDUCATION AND/OR EXPERIENCE:

• High School diploma or General Education degree (GED)
• Minimum of one (1) year previous collections related experience; loan related experience beneficial
• Knowledge of Word, Excel, Internet navigation/research, and Outlook is expected
• Ability to clearly and effectively communicate both verbally and in writing

Farmers National Banc Corp. is an Equal Opportunity Employer: disability/veteran