South Shore Bank

  • Collector

    Job Locations US-MA-Braintree
    Commercial Loan Servicing
    Regular Full-Time
  • Overview

    Under the supervision of the VP/Director of Consumer Lending, performs a variety of financial and regulatory tasks to collect delinquent   Residential and Consumer loans ensuring compliance with the Fair Debt Collections Practices Act as well as all state and federal lending regulations.  Works with the Bank’s Legal Counsel in handling foreclosures, repossessions and bankruptcies. Effectively problem solves customer issues relating to transaction history and account maintenance. 


    ESSENTIAL DUTIES AND RESPONSIBILITIES include the following. Other duties may be assigned.

    • Reviews delinquency reports to identify and contact past due borrowers.   
    • Call borrowers on past due loans to obtain payments, process charge-off and recovery transactions, generate pre-approved collection letters to members in compliance with state and/or federal guidelines, bankruptcy notices, credit bureau disputes, discuss payment plans with borrowers to cure delinquencies.   
    • Utilize skip tracing techniques to locate past due borrowers.   
    • Monitors delinquent accounts to ensure payments are properly credited in compliance with state and federal lending regulations.   
    • Order property inspections and valuations on past due loans and insurance claims.  
    • Maintain accurate records documenting collection efforts.  
    • Contact borrowers to resolve past due Home Owner Association fees upon receipt of 183A letters.  Process, monitor and review requests for loan modifications to make recommendations to senior management.  
    • Monitor Foreclosure process ensuring compliance with state and federal lending regulations up to and including foreclosure auctions.  Monitor and co-ordinate with the Bank’s Legal Counsel the maintenance of bankruptcy filings and schedules.  
    • Prepares and distributes monthly reporting including but not limited to RCN Report, Residential Watch List Exposure Report, Loan Servicing Report, Division of Banks semi-annual 35B Report, etc… 
    • Establish, develop and maintain professional relationships with clients and attorneys. 
    • Stays current on mortgage and consumer credit and collection laws  
    • Perform all duties as assigned professionally and within the South Shore’s service standards.  
    • Attends various meetings and seminars related to job



    Maintain and excellent understanding of applicable regulations and laws including but not limited to: Fair Debt Collections Practices Act , 940 CMR 7.00: Debt Collection Regulations, MGL Chapter 194 An Act Preventing Unlawful and Unnecessary Foreclosures, RESPA, Flood Disaster Protection Act, Fair Credit Reporting, Regulation Z (Truth in Lending), Regulation B (CRA), Bank Secrecy Act, Regulation P (Privacy of Consumer Financial Information), Service Members Civil Relief Act of 2003.  Maintain an up to date understanding of bank policies and procedures as they relate to compliance.


    Complete appropriate compliance training.



    Previous collection experience preferred.  Associate’s degree (A.A.) or equivalent from two-year college or technical school; or one to three years related experience and/or training; or equivalent combination of education and experience.  

    Strong systems skills; solid collection, analytical and negotiating skills; effective oral and written communication skills. Proficiency with Microsoft Office for Windows (Outlook, Word, and Excel) is required.


    South Shore Bank is an equal opportunity employer and all qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, disability status, protected veteran status, or any other characteristic protected by law.


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