Job Description

Date Active

Nov 7, 2022 8:04:33 PM

Requisition #

22-2233

Hours Per Week

40

Location

200 Executive Blvd South-HF433

City

Southington

State

Connecticut

Job Description/ Requirements

If you’re looking for a meaningful career, you’ll find it here at Webster. Founded in 1935, our focus has always been to put people first--doing whatever we can to help individuals, families, businesses and our colleagues achieve their financial goals. As a leading commercial bank, we remain passionate about serving our clients and supporting our communities. Integrity, Collaboration, Accountability, Agility, Respect, Excellence are Webster’s values, these set us apart as a bank and as an employer. 

 

Come join our team where you can expand your career potential, benefit from our robust development opportunities, and enjoy meaningful work!

 

The incumbent manages a portfolio of assigned Consumer Bankruptcy loans as well as performs bankruptcy case reconciliation, accounting and portfolio oversight functions.

 

  1. Accounting:
    • Review of MSP & ALS Bankruptcy Activity packages monthly and make Charge Off, Non- Accrual and TDR recommendations
    • Semi Annual Review of Discharged Bankruptcy Loans for potential CO needs

 

  1. File Assignments: Manage own assigned portfolio to include:
  • Strategically action Chapter 7, 11, 12 and 13 accounts in accordance with federal and state law, bank policy and investor/insurer guidelines as appropriate.
  • Ensure accurate and timely Credit Bureau Reporting for assigned loans
  • Assign legal counsel as required by investor, insurer or bank policy
  • Provide accurate data and ensure timely filing of Proofs of Claims, Motions for Relief or other filings necessary to protect the Bank's asset.
  • Prepare accurate and timely communications to the borrower, debtor's counsel and the bankruptcy court as required by internal policy and procedure, regulation and/ or Investor and Insurer guidelines.
  • Monitor proposed debtor plans, ensuring that the bank’s debt is accurately reflected and that the system of record is updated as appropriate.
  • Manage documentation to ensure files are properly organized and scanned to ONBASE for long term retention following applicable milestones in the bankruptcy process.

 

  1. Quality Assurance:
  • Review internal control reports for managing bankruptcy portfolio activities (PPFNs, NOPCs, Payments made on Files where collateral has been Surrendered or Debt Discharged, Billing Exceptions). Identify and cure defects
  • Assist Bankruptcy Manager in reviewing and responding to findings in internal and external reviews.
  • Alert area manager to pattern and trends affecting portfolio quality.
  • Conduct monthly QA on bankruptcy payment processing
  • Perform review and reconstruction of bankruptcy accounts as assigned by Area Manager
  • Ensure Investor and Insurer delinquency reporting accuracy via monthly pre reporting reviews

 

  1. Projects, Training, Other Initiatives
    • Coordinate weekly BK Referral meetings where the team will collaborate on bankruptcy activity that has may have concurrent Loss Mit/ Recovery action in process or where management approval of recommendations is required by policy or procedure.
    • Assist R & R Bankruptcy Manager with other projects and initiatives as required.
    • Assist Area Manager in preparing and conducting periodic training sessions for team members

 

  1. May also cover these functions of the BK Specialist as needed:
    • Monitor daily Service of Process activity for bankruptcy related notices.
    • Promptly code loans on ALS, MSP and PM, as bankruptcy milestones occur.
    • Prepare documents for periodic audits, exams or reviews by internal of external parties

High school/GED required

· Bachelor’s preferred, but not required.

· Paralegal designation preferred

· 7+ related experience as a Bankruptcy paralegal or Specialist within a Residential lending default environment required

· Prior Collections, Loss Mitigation, Foreclosure or other litigation experience helpful

· Specialized training- Working knowledge of MSP, ALS and other Black Knight applications strongly preferred, Consumer Bankruptcy legal process and Investor/Insurer guidelines, strongly preferred

· Ability to work independently to review Bankruptcy pleadings, bank response and QA the work of peer staff and assigned counsel critical to candidate’s success

 

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Equal Opportunities

All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability or protected veteran status.

Application Instructions

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