Senior Asset Quality Specialist II

About Us

Are you someone who seeks opportunity and has a true desire to grow your career with an organization that has enriched the lives of its clients and communities in the Greater Washington region for more than 150 years? If so, Sandy Spring Bank may be the perfect fit for you!

Sandy Spring Bank is a growing financial services company focused on creating real experiences for our employees, clients, shareholders and communities. We are proud to have been certified as A Great Place To Work, recognized by The Washington Post and the Baltimore Sun as a Top Workplace, by Forbes magazine as the #1 Bank in Maryland. It is our employees who play an integral role in shaping who we are as a company and upholding what matters most to us: people and relationships.

To help us attract the highest quality individuals, we offer a comprehensive benefits package to those who qualify. We offer competitive market salaries, paid time off, multiple retirement savings options, full health care options, life insurance, health care and dependent care flexible spending accounts, career development opportunities, tuition assistance and volunteer opportunities. We are proud to offer those, and so much more, making Sandy Spring Bank a remarkable place to work and build a career.

About the Job

Sandy Spring Bank is recruiting for a Senior Asset Quality Specialist ll. The Senior Asset Quality Specialist ll has responsibility for collection activities, including phone calls and written correspondence, on delinquent consumer and mortgage loans. Monitors delinquent loan portfolio to ensure collection activities and methods are followed using established procedures to keep all delinquencies at a minimum. Ensures compliance with all federal and state laws and regulations throughout the collection process. Supports the mission and values of the company.

In addition, responsible for collection efforts on delinquent loans that have been processed through the Small Business Loan Center ("SBLC"). Works with the Retail Collections Manager and Special Assets regarding collection activities in the SBLC portfolio.

MAJOR JOB ACCOUNTABILITIES:

• Monitors Delinquent Loan Portfolio

• Closely monitors delinquent loan portfolio to ensure frequent communication by phone and in writing in order to keep delinquencies at a minimum. Compiles information for monthly delinquency reports. Maintains awareness of overall percentage of delinquency and adjusts efforts as necessary in order to meet department goals.

• Frequently reviews updated financials from borrowers.

• Review and recommend collection actions for non-accrual and problem loans while following company processes.

• Monitors Delinquent SBLC Loan Portfolio

• Works with the Retail Collections Manager and Special Assets to monitor delinquencies on loans processed in the SBLC. When necessary, pursues notification and initial collection efforts via letters and phone calls. Works with internal and external legal professionals as necessary.

• Daily Collection Activities (Consumer and Mortgage Loans)

• Identifies and contacts borrowers who are delinquent on their loan payments according to SSB collection procedures. Resolves delinquent problems by seeking proper solution for repayment and properly documents all information.

• Works with attorneys and on occasion may testify as a witness in resolving collection matters.

• Provides loan documentation for preparation of legal notices to borrowers and filed with the courts.

• Closely monitors attorney invoices and processing with accounts payable.

• Familiarity with COVID relief regulations and drafting of documentation for Deferral and Forbearance Agreements.

• Work with HAF(Homeowners Assistance Fund) on delinquent accounts

• Foreclosures

• Completes necessary documentation for loss mitigation and reviews all requests.

• Make recommendations to resolve loss mitigation by submitting a MCLAR

• Orders appraisals and evaluates LTV

• Bankruptcy

• Responsible for updating required SSB platforms with all pertinent bankruptcy information. Working knowledge of all bankruptcy chapters and general bankruptcy laws and regulations. In association with the Retail Collections Manager works with attorneys and bankruptcy court in filing claims and establishing satisfactory workouts. Update FIS with new Bankruptcy information

• Management of Charged Off DDA Accounts sent for Collection

• Works with outside attorneys in an effort to obtain re-payment of charged off DDA accounts. This will include sending initial files to the attorneys, processing payments upon receipt and managing SSB templates and records. May be required to attend court to represent SSB along with attorneys.

• Special Servicer

• Compliance

• Responsible for adhering to compliance and servicing standards required by investors, which could include Fannie Mae and Freddie Mac (Government Sponsored Enterprises

• GSE's) and other private MBS or Correspondents, and funding/service release functions. Adheres to processes and procedures for every investor the bank services for. Provides evidence of compliance with supporting documentation to internal and external audit.

• Maintains a working knowledge of all credit reporting laws and regulations. Manages all consumer credit disputes within the E-Oscar reporting system.

• Quality Control

• In the event that the Bank outsources any servicing responsibilities to third party vendors may be required to act as a liaison between the Bank and third party vendors regarding loans in default. This may include, but not be limited to, MERS reporting.

• Subject matter expert and Team Lead

• Answer questions and help resolve questions from team members and other departments

• Handles problem accounts that need immediate attention

• Take on leadership role when Asset Quality Manager is unavailable

Required Skills

KNOWLEDGE, SKILLS, AND ABILITIES:

• Work requires 4 to 7 years of collection experience including a thorough knowledge of consumer and mortgage loan collection procedures. Investor loan servicing experience desired, but not required. An understanding of collection and bankruptcy laws and regulations is necessary. Registration as a notary is required.

• Experience using PC software applications such as Microsoft Excel and Microsoft Word to create reports and documents is necessary as well as an ability to read and interpret credit bureau information.

• Advanced problem solving skills are necessary to find solutions to problems that are technically complex and require collection, interpretation, and analysis of data from diverse sources. Attention to detail is required.

• Work requires excellent oral and written communication skills. Must be able to prepare correspondence with clients and attorneys, compile and summarize data, and present results to contacts internally and externally.

• Position requires regular internal and external contacts to resolve more sensitive problems, clarify policies and procedures, which require the use of sensible judgment. Situations often require incumbent to be assertive.

• Experience with DocuSign preferred.

SPECIFIC PHYSICAL REQUIREMENTS:

Work requires reasonable mobility in and around the assigned work area. Ability to use standard computer and phone systems is required.

WORKING CONDITIONS:

Normal office environment where there is almost no discomfort due to temperature, dust, noise, or other disagreeable elements.

Work includes little or no potential exposure to hazardous conditions.

Must be able to travel throughout SSB footprint as needed.

The above statements are intended to describe the general nature and level of work being performed by people assigned to this classification. They are not intended to be construed as an exhaustive list of all responsibilities, duties and skills required of personnel so classified.

Additional Information

Sandy Spring Bank provides equal employment opportunities to all employees and applicants for employment and prohibits discrimination and harassment of any type without regard to race, color, religion, age, sex, national origin, disability status, genetics, protected veteran status, sexual orientation, gender identity or expression, or any other characteristic protected by federal, state or local laws.

This policy applies to all terms and conditions of employment, including recruiting, hiring, placement, promotion, termination, layoff, recall, transfer, leaves of absence, compensation and training.

If you require a reasonable accommodation to apply for a position, please call our job line at 1-800-399-5919 and select option 5. Requests are considered on a case-by-case basis.

Sandy Spring Bank partners with various job boards to advertise our openings. Please visit our website, www.sandyspringbank.com to confirm the validity of the job posting to avoid any potential fraudulent activity. We encourage and recommend all candidates to apply via our website.