Collections and Recovery Officer

If you are unable to complete this application due to a disability, contact this employer to ask for an accommodation or an alternative application process.

Regular Full time Holyoke, MA, US

3 days ago Requisition

Salary Range: $82,000.00 To $90,000.00 Annually

Welcome to Peoples Bank! We are the largest mutually chartered bank in Western Mass and Northern Connecticut, we are proud to lead the way in green values, sustainable energy financing, and charitable giving.

Our commitment to operating in the best interest of our customers is matched by our dedication to fostering an inclusive and engaging work environment. We offer excellent compensation, workplace flexibility, and a competitive benefits package to our associates. Our award‑winning culture has earned us recognition as Best Place to Work and Best Local Bank. Join our team of dedicated and innovative individuals and be a part of our dynamic, successful organization.

Let's make a difference together!

The Collections & Recovery Officer is responsible for overseeing the Bank’s delinquency, non‑performing, and charged‑off loan portfolios, including mortgage loans. This role leads recovery strategy development, evaluates risk exposure, and drives resolution efforts to optimize recovery outcomes while ensuring regulatory compliance and operational integrity.

Working both independently and cross‑functionally, the incumbent manages borrower engagement, directs loss mitigation strategies, and oversees third‑party vendors, legal partners, and external resources involved in collections and recovery activities. This position also plays a critical role in balancing financial outcomes with customer relationship considerations and regulatory requirements.

The ideal candidate brings strong expertise in collections, consumer lending, and recovery practices, with the ability to analyze complex situations, influence outcomes, and make sound, risk‑based decisions in a highly regulated environment.

• Identify the underlying causes of delinquency and manage borrower outreach and resolution strategies to facilitate appropriate repayment arrangements, modifications, or other loss‑mitigation solutions aligned with Bank guidelines.
• Ensure complete, accurate, and timely documentation of collection activity, correspondence, and recovery actions within the Bank’s systems of record and storage databases.
• Manage attorney relationships and oversee legal recovery activities associated with foreclosure proceedings and auction processes, ensuring matters progress in accordance with Bank objectives and procedural requirements.
• Direct the use of available resources, including skip tracing efforts in coordination with the vendor, to identify and establish contact with individuals whose whereabouts are unknown.
• Analyze recovery options and prepare auction bid recommendations for Senior Leadership review and decision‑making.
• Evaluate collateral value, recovery prospects, and potential risk exposure associated with nonperforming loans, and determine appropriate collection strategies, including foreclosure, when other recovery efforts have been exhausted.
• Provide oversight of bankruptcy‑related activities, including the timely filing of claims, coordination with trustees and legal partners, and representation at hearings, as applicable.
• Partner with Loan Service and Commercial teams to evaluate and resolve delinquent tax matters, ensuring timely remediation and mitigation of potential Bank risk.
• Completes all yearly compliance training and testing and complies with bank, federal, and state regulations. Complies with Bank Policies and Procedures. Adheres to departmental and bank‑wide CARE standards.
• Other related duties may be assigned.

• Bachelor's degree (B.A.) from a four‑year college or university; or five years of related experience and/or training; or an equivalent combination of education and experience.
• Demonstrated knowledge of collection and recovery practices, including applicable federal and state regulations, investor requirements, and risk‑based decision‑making.

• Stron…