As a Business & Commercial Collections Specialist I at M&T Bank, you'll manage past due Commercial loans, Mortgages, Leases, Lines of Credit, and more. Your day-to-day activities will include making outbound calls to customers, documenting loan relationships, and collaborating with various teams to devise repayment solutions. You'll assess the potential for repayment and work with the Workout Team when necessary.

For the Business & Commercial Collections Specialist I role at M&T Bank, you need a minimum of 3 years of higher education or work experience and at least one year of collections or customer service experience. Strong verbal and written communication skills are essential, as is familiarity with word processing and spreadsheet software.

M&T Bank prioritizes compliance for the Business & Commercial Collections Specialist I by ensuring adherence to operational risk controls, regulatory standards, and internal control practices. You'll be trained to implement audit points and address any issues raised by external regulators to maintain the company's integrity.

At M&T Bank, Business & Commercial Collections Specialists I benefit from a collaborative environment where they work alongside Relationship Managers and CAM partners. There's ongoing support in terms of training, resources, and tools that ensure you're equipped to manage your accounts effectively and meet compliance standards.

The pay range for the Business & Commercial Collections Specialist I position at M&T Bank is $18.57 to $30.95 hourly, depending on your unique combination of experience, skills, and qualifications. The bank is committed to fair and competitive compensation in line with market standards.

When dealing with difficult conversations in collections, it's crucial to remain calm, empathetic, and professional. Ascertain the customer's circumstances while clarifying their responsibilities. Using active listening to understand their situation shows that you value their perspective, which can lead to collaborative solutions.

To evaluate a customer's ability to repay, I analyze their financial statements and payment history while considering external factors such as market trends. Armed with this information, I can discuss feasible repayment options and offer personalized assistance in resolving their financial challenges.

Effective documentation involves noting key points from each interaction, including the date, customer concerns, agreements made, and the next steps. This ensures a clear and continuous understanding of the customer's account that can be referenced in future calls while maintaining compliance with company standards.

Collaboration with Relationship Managers involves maintaining open communication about account statuses and potential risk scenarios. I prioritize team meetings and use shared documentation to relay information concerning payment plans and loss mitigation strategies, ensuring everyone is on the same page.

In the Business & Commercial Collections Specialist I role, vital compliance regulations include the Fair Debt Collection Practices Act (FDCPA), internal controls set by M&T Bank, and relevant financial regulations. Understanding these will help ensure all interactions are legal and promote the bank's integrity.

Prioritizing workload in a busy collections environment is key. I establish a system based on delinquency status, urgency of communication, and the potential for repayment. Utilizing a calendar and task management tools helps me keep on track and ensures timely follow-ups.

In a past role, I handled a commercial loan where the client was struggling financially. After assessing their situation, I proposed a temporary payment plan that allowed them to meet their obligations without overwhelming their resources. This negotiation kept the account current and fostered a continued relationship.

I find that CRM systems, automated dialers, and financial analysis tools are invaluable for collections and customer management. They streamline the communication process, allow for timely follow-ups, and help monitor account performance effectively.

Staying informed about industry trends involves regularly reading financial news, attending webinars, and participating in relevant professional networks. This knowledge is crucial for adapting strategies to better assist customers and manage risk in the collections environment.

I am drawn to the Business & Commercial Collections Specialist I role at M&T Bank because of the opportunity to support businesses during challenging financial times. M&T's commitment to fostering a culture of belonging and its focus on customer service resonate with my values and professional goals, making it a perfect fit.