Collections Specialist

First Merchants Bank is seeking a Collections Specialist to join our team! This position will provide administrative support for collectors and loss mitigation specialists. Perform duties related to collection activities for consumer and mortgage loans to ensure unnecessary losses are prevented.

Essential Duties & Responsibilities:

• Prepare loan maintenance forms and change in status forms as needed at the direction of management.
• Run credit or skip trace reports as needed.
• Repossessions: Order repossessions as needed, change in status forms, order repossession titles, process sale proceeds, prepare 10 day redemption & pre-sale letters, prepare deficiency letters and demand packages.
• Review reports from collection companies on charged off accounts - including deposit and loan accounts. Process all transactions to Horizon system.
• Review reports daily for payments made on accounts that have been sent to a collection agency and report those payments via the collection agency portals.
• Update Chex Systems regarding payments made on charged off DDA's
• Respond to disputes from collection companies and Chex Systems.
• 1099c recordkeeping and reporting
• Upload charged off deposit accounts to Collection agency portals.
• Follow through with all customer issues regarding the charged off deposit accounts including Case tickets, corrections, etc.
• Other duties: Replevin suit package requests, demand package requests for counsel, deceased estate package requests, screen shots for affidavit of debt preparation.
• Maintain the confidentiality of all customers, employees, and company information.
• Review delinquent loan and overdraft deposit customer accounts and determine necessary action, involves;
  
  
  
  • Attempt to collect past due amounts or a promise to pay through contacting delinquent customers in person and/or by telephone.
  • Determine payment plans with customers and make decisions regarding acceptability of plan while weighing the reduction of loss to the bank and the customer's ability to pay
  • Determine whether delinquency situation warrants repossession, charge-off or litigation, in accordance with established policy.
  • Make recommendations regarding customers qualifying for workout options
  
  
  
  
• Advise manager of unusual circumstances involving any dealer or loan customer.
• Conduct collection activities in such a manner that the Bank will not be exposed to lawsuits, complaints or embarrassment due to poor judgment.
• Prepare various reports for supervisors and other Bank officers.
• Stay current on changes concerning underwriting, investor and policy guidelines.
• Confer with lenders and management to aid in the resolution of delinquent loan issues.
• Perform administrative functions for the department (i.e. answer phones, create spreadsheets, prepare reports for management, prepare email/correspondences, etc.).

To be successful in this role, we require the following:

• High school diploma or equivalent (GED).
• A minimum of one (1) year of related experience.

The following would be a plus:

• Collections experience.

First Merchants offers the following:

• Base Pay PLUS Bonuses
• Medical, Dental and Vision Insurance
• 401k
• Health Savings and Flexible Spending Accounts
• Vacation/Sick Time
• Paid Holidays
• Paid Parental Leave
• Tuition Reimbursement
• Additional Benefits

A little about us:

First Merchants is guided by a genuine philosophy of being a meaningful place to work and having a prosperous impact across all walks of life throughout the communities we serve, including consumers, businesses and other organizations. Our Vision, Mission and Team statement reflect and reinforce that authentic service philosophy.

Our Vision is:

To enhance the financial wellness of the diverse communities we serve.

Our Mission is:

To be the most responsive, knowledgeable, and high-performing financial organization for our clients, teammates, and shareholders.

Our Team:

"We are a collection of dynamic colleagues with diverse experiences and perspectives who share a passion for positively impacting lives. We are genuinely committed to attracting and engaging teammates of diverse backgrounds. We believe in the power of inclusion and belonging."

Apply today to begin your career with us!