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Bank of America Commercial Collections - Account Specialist in Chicago, Illinois

Job Description:

Business Overview:

Banc of America Leasing is the largest U.S. equipment financing company, serving over 51,000 clients worldwide. We have $62.7 billion in total assets, and have a significant global presence, with over 900 associates. Together with our affiliated companies*, we provide equipment financing solutions to small businesses, middle-market and large corporations, offering product expertise in government financing and wholesale vendor financing, as well as tailored programs specific to industry segments, including aviation, healthcare, energy services and renewable energy.

*Certain products are offered through Banc of America Public Capital Corp, a wholly-owned subsidiary of Bank of America N.A.

Essential Functions:

Maintain asset quality by reducing the overall Commercial delinquencies assigned through the use of sound, effective, and pro-active collection techniques in order to minimize the roll of accounts into advanced delinquency stages of non-accrual status and charge-off.

The individual will be responsible for:

  • Ensure all assigned accounts are thoroughly worked to include prompt and consistent contact and follow-up by way of phone calls and email

  • Meet all departmental goals, including overall and individual delinquency targets

  • Meet collection targets set for late payment interest income

  • Early identification of contracts that warrant further collection efforts to minimize loss

  • Prompt notification and escalation of all potential issues to management

  • Provide all customers with professional and courteous customer service

  • Resolve accounts and work with customers to maintain a current payment status by assisting with invoicing concerns, general inquiries, and reconciling accounts

  • Employ excellent verbal communication skills, including listening, probing and negotiating with customers to create a sense of obligation/urgency to resolve delinquency

  • Maintain an excellent rapport with credit, operations and relationship management personnel

  • Manage risk in order to grow revenue.

  • Bankruptcy and or Work-out knowledge a plus.

Work within a Team of Leasing professionals supporting the Banc of America Leasing platform. Preference is for collections professional with 4-6 years of commercial collection experience possessing the proven ability to handle extensive research requirements related to complex billing problems and inquiries coupled with extensive knowledge of the organization, products and services, and advanced problem solving skills.

Required Education:

Undergraduate degree in finance or accounting preferred.

Prior Work Experience:

4-6 years of commercial collection experience. Prefer banking/financial services experience.

Required Skills:

  • Proven commercial collection skills

  • Customer service focus with exceptional attention to detail

  • Strong analytical, organizational and problem-solving skills

  • Clear and articulate oral and written communication skills

  • Strong computer skills

  • Results oriented, is able to accomplish objectives in a specified timeframe

  • Works effectively as a team member and independently

  • Minimal Travel

  • Preferred Location – Providence, Chicago

Posting Date : 06/11/2019

Location :

Chicago, IL, 135 S LA SALLE ST (IL4135),

Troy, MI, TROY HEADQUARTERS, 2600 W Big Beaver Rd,

Providence, RI, 1 FINANCIAL PLZ (RI1537),

  • United States

Travel : Yes, 10% of the time

Full / Part-time : Full time

Hours Per Week : 40

Shift : 1st shift

Assistance for Applicants with Disabilities

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Diversity & Inclusion

At Bank of America, our commitment to diversity and inclusion is helping us to create not only a great place to work, but also an environment where our employees, our customers and our communities around the world can reach their goals and connect with each other. All qualified applicants will receive consideration for employment without regard to race, color, religion, gender, gender identity or expression, sexual orientation, national origin, genetics, disability, age, or veteran status.

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