Commercial Recovery Officer I

This position provides the primary collection effort for all commercial loans in charge-off status. Performs analysis and data gathering to determine the collectability of charged-off commercial loans. Mitigates loss by coordinating collection, negotiation, and repayment activities with borrowers, legal counsel, and other key parties. Reports and tracks progress to assist management in monitoring loan status and maximizing recovery dollars through all activities for the Bank.

Portfolio Management & Collections: Manages an assigned portfolio of charged off business & commercial loans, building an adequate credit profile to determine initial and long-term resolution strategy. Evaluates loan documentation, credit analysis, and financial information to create and execute resolution strategies. Works directly with borrowers, Bank counsel, and other appropriate parties to negotiate and resolve problem credits. Engages third party companies that collect on charged-off loans, managing the assignment, repossession, or liquidation of loan collateral. Conducts asset searches utilizing existing products, and investigates new tools that could aid in collection efforts.
Negotiation:Negotiates settlements and repayment plans within established Letter of Authority or via collaboration with management. Creates proposals focused on the best-case recovery settlement.
Loan Expertise - Remains current on regulations, compliance requirements, Bank policies, and procedures. Exhibits a thorough knowledge of current bankruptcy laws, judgements, and restructure strategies.
Analysis: Analyzes information to determine the collectability of charged-off commercial debts, and to track the progress of collection efforts. Reviews collection files, conducts phone inquiries, pulls data from online systems, and performs other actions to source necessary analytic information.
Reporting:Monitors assigned portfolios to report and track collection efforts. Records all actions, conversations, and financial information in department portfolio or loan management system.
Business Support: Manages credit, operational, reputational, regulatory, and legal risks related to personal interactions, customer transactions and financial exposures. May serve on review teams or assist with department training efforts.

Bachelor's Degree and 2 years of experience in Commercial Banking or Small Business Administration

- OR -

High School Diploma or GED and 6 years of experience in Commercial Banking or Small Business Administration

Additional Requirements:

Excellent written and verbal communication skills

Ability to negotiate

Debt recovery experience

Intermediate skip-tracing experience

Preferred Qualifications:

Commercial recovery/post charge off debt collection experience (ex. commercial real estate, term loans, lines of credit, etc.)

Collections portfolio management experience

Attorney vendor/third-party counsel management

Large Financial Institution/Banking industry experience

Benefits are an integral part of total rewards and First Citizens Bank is committed to providing a competitive, thoughtfully designed and quality benefits program to meet the needs of our associates. More information can be found at https://jobs.firstcitizens.com/benefits.