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Loan Collections Officer

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Business Center for New Americans | New York, NY
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Business Center for New Americans


New
|
Published 7 days ago

$55,000 - $60,000.

OVERVIEW

The Business Center for New Americans (BCNA) is a Small Business Administration (SBA) Approved Microloan Intermediary Lender and is certified as a Community Development Financial Institution (CDFI) by the CDFI Fund at the US Department of Treasury. To date, we have made over $25 million in micro and small business loans which range from $500 to $250,000. On average we have 650 to 700 active loan accounts.

BCNA is a 401(c)(3) non-profit with the mission of creating a pathway to self-sufficiency for immigrant and refugee entrepreneurs in New York City by providing access to affordable credit, empowering them with financial education, and offering training in best business practices. More information is available at www.nybcna.org.

JOB DESCRIPTION SUMMARY

BCNA currently has an excellent opportunity for a full-time Loan Collections Officer to be based in our main office in downtown Manhattan.

As part of the Lending team and reporting to the Portfolio and Compliance Manager, the Loan Collections Officer will be responsible for all collections management, monitor closing, documentation and processing of loans, and support the Director of Lending and Portfolio and Compliance Manager with portfolio management. 

DUTIES AND RESPONSIBILITIES

Collections Management 

·        Works closely with BCNA loan officers to stay informed on any relevant financial or business changes that affect the loan disbursements or repayments of borrowers.

·        Identifies issues and engages in problem solving with delinquent borrowers by phone or in person, offering recommendations and traveling to brick and mortar businesses when needed.

·         Reviews and responds to loan restructure or modification requests from loan officers; ensures all    forms are signed and documented properly.

·        Initiates small claims court procedures when appropriate.

·        Engages with collection attorney and handles all communication, keeping the Director of Lending and Portfolio and Compliance Manager informed of all actions and settlements. 

·        Recommends and implements strategies to increase the number of successful collections on outstanding debt.


Loan Closing/Monitoring

·        Monitors closing, documentation and processing of loans for consistency, accuracy and timeliness following regulatory and BCNA Lending Policies and Procedures.

·        Processes UCC filings. Reviews and tracks insurance certificates for active loans. Removes UCC filings and liens when loans are paid in full.

·        Reviews check request documents for accuracy. Responsible for review of credit approvals and confirming that loan documentation properly reflects unique, individualized requirements of the approval for the specific loan.

·        Provides reports to senior management regarding the status of collateral filings, documentation issues, problems with loan file information, and other loan processes that require attention.

Portfolio Management Support

·        Coordinates bi-weekly collection meetings, updating loan officers on the status of delinquent borrowers.

·        Prepares/ presents a summary of charged-off loans within the current month. Prepares write off memos and submits to senior management.

·        Ensures completion of risk rating of all active loans every six (6) months.

REQUIREMENTS

·        Bachelor’s degree in Business Administration or Finance preferred.

·       Minimum of two years related experience in debt settlement, debt consolidation, loan servicing or consumer collections, preferably with a bank, credit union, loan servicing company, CDFI or other financial services organization. 

·        Strong verbal and written communication skills. Ability to handle collection activities with necessary assertiveness, but with respect and sensitivity appropriate to the mission of the organization.

·        Requires strong time management skills, attention to detail and independent follow-through as well as strong teamwork. Ability to work effectively in a multicultural environment.

·        Proficiency in Microsoft Office, particularly Excel and Word, and database management.

·        Knowledge of NYC with willingness and ability to travel to local businesses.

OVERVIEW

The Business Center for New Americans (BCNA) is a Small Business Administration (SBA) Approved Microloan Intermediary Lender and is certified as a Community Development Financial Institution (CDFI) by the CDFI Fund at the US…

Details at a glance

  • On-site Location
  • Full Time Schedule
  • 4-Year Degree Required
  • Professional

Benefits

Competitive benefits package including 3 weeks vacation with increase to 4 weeks after one year; paid holidays, sick days; personal days; medical and dental insurance, 403(b) Plan; opportunities for professional development

Competitive benefits package including 3 weeks vacation with increase to 4 weeks after one year; paid holidays, sick days; personal days; medical and dental insurance, 403(b) Plan…

How to Apply

Subject line of e-mail should be Loan Collections Officer (Idealist)

Please include a brief cover letter summarizing your relevant experience and reason for interest in BCNA and this position.

Subject line of e-mail should be Loan Collections Officer (Idealist)

Please include a brief cover letter summarizing your relevant experience and reason for interest in BCNA and…

Location

120 Broadway, New York, NY 10271

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