Collections Specialist – Loan Servicing

Description

The Collections Specialist – Loan Servicing at Idaho First Bank supports the Peak Bank branded consumer loan portfolio by managing delinquent accounts through compliant borrower outreach, payment resolution, hardship identification, and approved payment-assistance strategies. This role is responsible for managing assigned collection queues and campaigns, working with borrowers to resolve past-due obligations, accurately documenting account activity and borrower interactions, and identifying accounts that require specialized handling or escalation.

As part of a growing Loan Servicing organization, the Collections Specialist plays an important role in supporting portfolio performance while ensuring borrowers are treated fairly, consistently, and respectfully. The position performs all responsibilities in accordance with established Bank policies and procedures, communication standards, and applicable state and federal laws and regulatory requirements.

Essential Functions:

• Manage assigned delinquency queues and collection campaigns through inbound and outbound telephone calls, written correspondence, and approved digital communication channels.
• Work with borrowers to understand the cause of delinquency, obtain payment commitments, and identify appropriate resolution strategies within established authority.
• Administer or facilitate approved payment arrangements, extensions, due-date changes, hardship programs, and other payment-assistance options in accordance with Bank policy.
• Clearly explain account status, amounts due, payment activity, loan terms, and available options while maintaining a professional and respectful borrower experience.
• Accurately document borrower contacts, promises to pay, hardship information, payment arrangements, account decisions, and follow-up actions in the loan servicing system.
• Monitor assigned accounts for timely follow-up and progression through established delinquency strategies and escalation points.
• Identify bankruptcy, deceased borrower, attorney representation, cease-contact requests, SCRA indicators, fraud concerns, disputes, complaints, or other special-handling conditions and immediately route accounts through the appropriate process.
• Perform approved skip-tracing and contact research when appropriate and permitted by Bank policy.
• Escalate accounts requiring charge-off review, settlement consideration, recovery activity, legal review, or other specialized servicing.
• Maintain working knowledge of applicable consumer protection, collections, privacy, SCRA, bankruptcy, credit reporting, and fair-treatment requirements.
• Meet established performance and quality expectations, including cure rate, roll rate, promise-to-pay performance, right-party contact, productivity, documentation quality, and other assigned portfolio metrics.
• Participate in quality reviews, audits, examinations, training, process improvement, and servicing initiatives as the portfolio and organization continue to grow.
• Perform other duties as assigned.

• Knowledge of collection practices and regulations, including FDCPA and consumer protection requirements, preferred.
• Ability to navigate difficult conversations and de-escalate conflict. 
• Sound judgment and decision-making skills, particularly in balancing risk mitigation with customer relationships.
• Attention to detail in documentation and regulatory compliance. 
• Ability to manage time effectively and prioritize a high-volume workload.
• Experience with loan servicing systems (e.g., Nortridge) preferred.
• Proficient in Word, Excel and other relevant systems.

Requirements

• High school diploma or equivalent required.
• One (1) or more years of experience in consumer loan collections, loan servicing, credit administration, or related banking or financial services roles.
• Working knowledge of consumer loan products, delinquency management, and risk mitigation practices.

About IFB

Idaho First Bank (IFB) is a full-service state-chartered community bank established in October 2005 and headquartered in McCall, Idaho. Known for its "People First and Community First" motto, the Bank serves the greater Southwest Idaho and Central Oregon communities. Branch locations include McCall, New Meadows, Eagle, Ketchum, Nampa, Boise, and Bend. Idaho First Bank is a member of the FDIC and an Equal Housing Lender. For more information, visit us at www.idahofirstbank.com.

Equal Opportunity Employer