Associate, Collections at Webster Bank

**Who this is for** This role is for a detail-oriented professional interested in the banking sector, specifically focused on debt management and delinquency re

Work type: onsite

Location: CT Southington

Salary: $20 – $23/hr

Type: Full-time

Summary

**Who this is for** This role is for a detail-oriented professional interested in the banking sector, specifically focused on debt management and delinquency resolution for consumer and residential loan products. **Key highlights** You will work in a supportive, value-driven environment while directly impacting the bank's financial health by managing collection queues, contacting borrowers, and facilitating loss mitigation solutions. **You might be a good fit if you...** - Possess excellent verbal communication and empathy skills for sensitive borrower interactions. - Have familiarity with banking core lending systems or loan servicing guidelines. - Can manage high-volume daily tasks, including calling campaigns and letter preparation. - Are comfortable documenting detailed case notes and performing skip tracing as needed.

Job Description

If you’re looking for a meaningful career, you’ll find it here at Webster. Founded in 1935, our focus has always been to put people first--doing whatever we can to help individuals, families, businesses and our colleagues achieve their financial goals. As a leading commercial bank, we remain passionate about serving our clients and supporting our communities. Integrity, Collaboration, Accountability, Agility, Respect, Excellence are Webster’s values, these set us apart as a bank and as an employer.  

Come join our team where you can expand your career potential, benefit from our robust development opportunities, and enjoy meaningful work!

The incumbent has well developed knowledge, skills, and techniques relative to the collection of past due Residential and Consumer loan products. The incumbent works well with peers and supervisor in the successful reduction of delinquency in early stage delinquency (0-89) Incumbent is able to conduct non- automated calling and letter campaigns targeting assigned levels of delinquency. May also be responsible for preparing litigation referral packages and multi-state default preparation.

What you will do

• Ensure that collection efforts are entered into the servicing system of record in the form of clear and complete case notes at the loan account level


• Work assigned call queues and call campaign lists to timely completion, using verbal and written communication channels to secure promise of payments, satisfactory arrangements to cure the delinquency and prevent the further ageing,


• Communicate in a professional, ethical and empathetic manner to resolve the delinquency


• Seek Quality Right Party (QRPC) during any established contact with the Borrower Discuss the financial difficulties causing the delinquency Determine (1) Reason for Default (RFD), (2) whether their hardship is temporary or permanent, (3) property occupancy status, (4) Ability to repay the Delinquency


• In each QRPC, achieve one or more of the following outcomes: Collect past due payments Accept a Promise to Pay or short- term Repayment plan Discuss or recommend alternate options for resolving the Delinquency through Loss Mitigation as defined in Job Aid 1003.1.4, Collections Chart for Loss Mitigation discussions.


• Institute skip tracing efforts as needed and maintain accurate, complete records of same


• Handle the mailing of automated written Collection communications to the borrowers as assigned, including one or more of the following: Mild, Medium and Strong letters, EIL letters, 60 Day Letters ensuring prompt and accuracy of the communication.


• Prepare and mail periodic non automated Collection communications to the borrowers as assigned, including one or more of the following: 45 Day letters packages, State specific Default letters ensuring prompt and accuracy of the communication.


• Handle payment reversals related to drafts and checks returned NSF


• Support the preparation of documents for Litigation Referral packages and advance calling and skip tracing efforts

• Excellent verbal communication skills


• Candidates with prior knowledge of the bank’s core lending systems [MSP,, Signature, Salesforce etc.] preferred


• Knowledge of Investor and Insurer Default Servicing Guidelines preferred.

• Candidates with advanced degrees (Associates, Bachelor's, and/or Master's) preferred.


• Candidates with some combination of coursework and experience, or extensive related professional experience, are eligible for consideration.

• Experience in direct collection of residential, consumer and business loan debt in a banking environment preferred.

#LI-MM3

Webster Financial Corporation and its subsidiaries (“Webster”) are equal opportunity employers that are committed to sustaining an inclusive environment. All qualified applicants will receive consideration for employment without regard to race, color, religion, age, marital status, national origin, ancestry, citizenship, sex, sexual orientation, gender identity and/or expression, physical or mental disability, protected veteran status, or any other characteristic protected by law.

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