Collection Specialist

Job Title: Collection Specialist
Location: Pensacola, FL
Hybrid: 2-3 days onsite a week (9:00 a.m. to 5:30 p.m. CST)
Pay Rate: Open to Both C2C and W2 options
Position Type: Multiyear Contract

Candidates must have some professional collections experience.

Job Description
To review, control and collect on defaulted small business products to include loans, credit cards, business lines of credit and deposit accounts.
Identify, investigate and determine appropriate steps to mitigate losses and protect assets.

Serve as subject matter expert regarding section functions, systems, policies and/or procedures. Work is performed under moderate supervision.

Job Responsibility

• Analyze accounts for potential abuse and/or fraud to determine if litigation is warranted to protect client's interest and reduce financial loss
• Monitor attorneys assigned accounts to determine status of litigation; advise attorneys of any legal issues and their potential impact
• Initiate contact with responsible parties to make equitable repayment arrangements and provides financial counseling and recommendations concerning business and personal finances
• Initiate account adjustments within authorized monetary limits, including payment reverts, fee waivers, NSF, mobile deposits, and monthly service fees
• Initiate and assist with the disposal of collateral including commercial and residential property on short sale
• Research and compile member and account information, collection notations, correspondence, archived documents, and other pertinent documents required by the O and/or outside counsel for use in litigation
• Research member assets and accounts to evaluate recoverability for projected litigation efforts to determine if legal action would be cost effective
• Monitor, identify, analyze, investigate and resolve misrepresentation activity on overdrawn savings and checking accounts
• Detect and control potential losses resulting from unauthorized and improper handling of accounts, including loan fraud and returned deposits
• Review loan files and utilize resources to ensure liens, Uniform Commercial Code filings, and Deeds of Trust are properly filed
• Review high balance accounts including Small Business Administration loans to ensure appropriate transactions and steps are taken in the event of default to ensure optimum return on guarantee
• Obtain and review financial information to determine modification, forbearance, reduced interest or settlement eligibility
• Review collateralized loan accounts to assess repossession possibilities, recommend and initiate repossessions; monitor and communicate outcome to legal counsel if warranted, for judgement on deficiency balance and pursuit of additional assets
• Identify and review bankruptcy filings in PACER to determine status of the business and its products; serve as liaison to the Bankruptcy Section regarding appropriate course of action against guarantor
• Respond to complex, technical, and/or urgent inquiries from Branch Offices, Business Services, Security, Contact Center and Consumer Collections concerning eligibility, compliance, collection related issues, and policies and procedures
• Respond to inquiries concerning suspicious account activities and opening of business accounts; determine if a Suspicious Activity Report should be filed
• Maintain knowledge of and ensure compliance with applicable federal and state laws, rules, regulations and policies and procedures
• Collaborate with Survivorship and Business Services on Decedent Account cases determining the disposition of the collateral and facilitating the payment or recovery of assets
• Identify fraudulent and abusive activity unique to businesses; provide documentation and guidance to Security and Business Services related to the business and corresponding personal accounts; suspend accounts as necessary
• Utilize State resources (e.g. Secretary of State, State Corporation Commission, State Licensing Systems, etc.) to ensure business entities and its principles are compliant and in good standing
• Review, develop and/or update policies and procedures related to the collection of Small Business products
• Perform other duties as assigned

Job Qualifications

• Working knowledge of applicable federal and state laws, rules and regulations
• Familiarity with software systems (e.g., Excel, Monarch, Cognos, OnDemand, Pacer, Baker Hill, etc.)
• Working knowledge of the business underwriting process and business accounting principles
• Experience in financial transaction/processing related responsibilities
• Working knowledge of collection principles and practices
• Experience working with all levels of staff, management, stakeholders, vendors
• Ability to comprehend, analyze, interpret, communicate and apply government and financial industry regulations, related principles and practices, and company instructions, procedures, and policies
• Ability to work accurately with numbers and perform mathematical calculations
• Ability to work independently and in a collaborative environment
• Familiarity with the systems and software used by the Collections Division
• Familiarity with client's functions, philosophy, operations and organizational objectives
• Familiarity with client's products, services, processes, policies and procedures
• Effective skill defining business entity types and structures, including an understanding of the various loan documents and their verbiage used for multiple business lending products
• Effective skill interacting tactfully and effectively in difficult situations
• Effective member/customer service skills
• Effective skill building effective relationships through rapport, trust, diplomacy and tact
• Effective research, analytical, and problem-solving skills
• Effective skill assimilating information, analyzing facts, and developing logical conclusions
• Effective skill exercising initiative and using good judgment to make sound decisions
• Effective organizational, time management, and problem-solving skills
• Effective skill to influence, negotiate and persuade to reach agreeable exchange and positive outcomes
• Effective interpersonal, verbal and written communications skills
• Effective database, word processing, and spreadsheet software skills
• Desired - College level courses with a concentration in Accounting, Finance, Business Administration, or related field

System One, and its subsidiaries including Joulé, ALTA IT Services, and Mountain Ltd., are leaders in delivering outsourced services and workforce solutions across North America. We help clients get work done more efficiently and economically, without compromising quality. System One not only serves as a valued partner for our clients, but we offer eligible employees health and welfare benefits coverage options including medical, dental, vision, spending accounts, life insurance, voluntary plans, as well as participation in a 401(k) plan.

System One is an Equal Opportunity Employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex (including pregnancy, childbirth, or related medical conditions), sexual orientation, gender identity, age, national origin, disability, family care or medical leave status, genetic information, veteran status, marital status, or any other characteristic protected by applicable federal, state, or local law.

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System One, and its subsidiaries including Joulé, ALTA IT Services, TeamPeople, and Mountain Ltd., are leaders in delivering outsourced services and workforce solutions across North America. We help clients get work done more efficiently and economically, without compromising quality. System One not only serves as a valued partner for our clients, but we offer eligible employees health and welfare benefits coverage options including medical, dental, vision, spending accounts, life insurance, voluntary plans, as well as participation in a 401(k) plan.

System One is an Equal Opportunity Employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex (including pregnancy, childbirth, or related medical conditions), sexual orientation, gender identity, age, national origin, disability, family care or medical leave status, genetic information, veteran status, marital status, or any other characteristic protected by applicable federal, state, or local law.