Corporate Loan Collection Officer Job Description

Corporate Loan Collection Officer Job Profile and Description

A special responsibility sometimes assigned to corporate loan officers is loan collection.  But in large banks, there are Corporate Loan Collection Officers assigned in a different section who are tasked to contact borrowers with maturing and delinquent loan accounts.  Collecting the loans is the objective and to this end, the Loan Collection Officer can help the corporation explore ways to avoid defaulting on the loans with the bank ready to help by restructuring. If a restructuring or repayment plan cannot be developed, the loan collection officer can start collateral liquidation procedures in coordination with the bank’s legal department.

Duties and Responsibilities

• Assist the Corporate Accounts Manager in restructuring defaulted loans
• Administer corporate, industrial and commercial loan collection efforts where assigned.
• Evaluate and review corporate loan restructuring and present recommendation of payment rescheduling to higher management for approval.
• Ensure that loan collection policies and procedures are complied with according to established guidelines for which exceptions can be applied upon approval.
• Coordinate with the bank legal department for collection efforts.
• Review valuation of collaterals and initiate liquidation proceeding for attachment of collaterals and their disposal.

Skills and Specifications

• Must be able to comply with deadlines and work under pressure.
• Must exhibit strong interpersonal skills to work with a team as well as interact with lending clients.
• Must have excellent command of the English language in oral and written form.
• Must exhibit strong self-confidence, firmness, negotiating and persuasive skills when dealing with the client.
• Must have strong knowledge of state and federal laws on loans and debt settlement.

Education and Qualifications

At the minimum the position requires a college degree in a business field with a strong bias in Banking, Financial Management and Business Administration. A degree in law with major in commercial law is an advantage, along with an advanced degree in business management and banking and finance.