Loan Recovery Specialist

The Loan Recovery Specialist supports centralized recovery functions by driving borrower resolution strategies, loss mitigation, foreclosure prevention, and asset protection activities while helping minimize financial losses to the organization. This role coordinates with borrowers, internal partners, attorneys, agencies, vendors, investors, and other stakeholders to review borrower information and credit disputes, evaluate workout options, monitor repayment plans, forbearance plans, loan modifications, bankruptcies and collateral, execute repossessions, short sales, deed-in-lieu agreements, foreclosures OREO-related activities. The position also maintains accurate documentation and reporting, supports audit and examination readiness, and helps ensure recovery activities are completed in accordance with investor guidelines, organizational standards, regulatory requirements, and applicable state and federal laws.

Position Goals

• Borrower Resolution and Loss Reduction – Strategize effective borrower engagement and loss mitigation strategies that promote alternatives to foreclosure or repossession while minimizing financial losses to the organization.
• Regulatory and Compliance Excellence – Ensure all collection, recovery, foreclosure, bankruptcy, and credit dispute activities are conducted in compliance with applicable laws, regulations, and internal policies.
• Asset and Collateral Protection – Safeguard the bank’s collateral and recoverable assets through effective coordination of foreclosure, repossession, OREO, and recovery processes.
• Operational Effectiveness and Accuracy – Maintain accurate documentation, system records, and reporting to support timely decision-making, audit readiness, and operational consistency.
• Stakeholder and Vendor Collaboration – Build productive working relationships with internal teams, attorneys, agencies, vendors, and borrowers to support efficient recovery outcomes.

Key Responsibilities

Loss Mitigation and Borrower Assistance

• • Analyze and decision loss mitigation and deferral applications. Monitor compliance with repayment plans, forbearance plans, deferrals and loan modifications.
  • Educate borrowers on available options, process payments, and establish payment arrangements to cure delinquency.

Collections, Recovery, and Bankruptcy Management

• • Manage delinquent accounts through collections, repayment negotiations, charge-offs, and recovery efforts.
  • Handle bankrupt accounts in compliance with federal statutes, including preparing proofs of claim and related documentation.

Foreclosure, Repossession, and Asset Management

• • Lead foreclosure and repossession processes, including preparation of referral files, coordination with vendors, asset maintenance, and approval of process and bid decisions.
  • Manage OREO and other collateral including, insurance oversight, maintenance and sale preparation.

Third-Party Vendor and Agency Oversight

• • Coordinate and monitor attorney, collection agency, and vendor relationships.
  • Manage referrals, remittances, reporting, and required regulatory filings, including 1099-C reporting.

Documentation and Reporting

• • Maintain accurate records, system codes, credit dispute documentation, and regulatory reporting.

• High School Diploma or equivalent required; minimum of four years of relevant experience in loss mitigation, collections, recovery, lending, or a related financial services function.
• Demonstrated success in delivering high-quality customer service, particularly in complex or sensitive situations.
• Ability to work independently while managing competing priorities and meeting established timelines.
• Strong organizational, analytical, and attention-to-detail skills with the ability to produce accurate documentation.
• Effective written and verbal communication skills appropriate for customer, vendor, and regulatory interactions.
• Experience in a residential lending, mortgage servicing, or loss mitigation environment preferred.
• Proven ability to analyze information and recommend solutions that support both borrower outcomes and organizational objectives.

• Medical
• Dental
• Vision
• 401(k) Match
• Profit Sharing
• Paid Time Off
• 11 Holidays
• Tuition Reimbursement
• Free Parking throughout Tompkins Community Bank
• Employee Referrals

Tompkins is committed to a policy of Equal Employment Opportunity ("EEO") with respect to all team members and applicants for employment and a work environment free from discrimination (including unlawful harassment) based on race, color, religion, sex, sexual orientation, transgender status, gender non-conformity, gender identity, gender expression, national origin, age, marital status, domestic violence victim status, disability, predisposing genetic characteristics, military or veteran status or status in any group protected by federal, state, or local law. 

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