Pay Range: $22.74-$36.55
The posted salary range reflects Eastern’s expected hiring range. Actual pay may vary based on experience, skills, and market factors; additional compensation may apply. Eastern offers a robust benefits and retirement package. Please see the description of benefits included with this job posting for additional information.
Default Management is a department within the Corporate Credit Division with the responsibility of partnering with Eastern Bank Consumer and Business Banking customers to effectively address past due accounts and provide solutions in order to cure delinquencies and promote timely payments. Default Management utilizes omnichannel customer communications, utilizes effective risk management strategies, seeks to deliver superior customer experiences, and meets high regulatory compliance standards.
Responsibilities:
- Providing exceptional Customer Service.
- Meet established call requirements (for both Compliance and Customer Service).
- Process payments accurately.
Assume ownership for in depth review of queues as assigned.
Support Default Associate I by:
- Providing training and guidance with Bank applications, systems, and procedures.
- Handle more complex inquiries that require an experienced Collector.
- Generate customer correspondence (all available channels).
- Process servicing requests. & log customer complaints.
- Identify operational/system issues in need of research/follow up.
- Projects as assigned.
- Attend seminars, training to gain advanced knowledge of collections arena.
Education and Experience
A bachelor’s degree in a financial discipline is preferred or 3 - 5+ years of related work experience in a Customer Service/Financial related industry.
Skills/Knowledge
Proven customer service experience.
Knowledge of Bank products, collection laws and regulations.
Strong written and verbal communication skills.
Ability to use Microsoft products such as Outlook, Word, Excel and PowerPoint.
Experience with Bank applications and software including but not limited to FIS Insight, Collections ,Caller software, Optima, and Sales Management.
Train and collaborate with Default Associate I & III’s, Default Management Admin Team, Loss Mitigation Team, and Default Managers.
Ownership of processes as assigned.
In depth review, maintenance and follow up for special queues.
Handle moderately complex customer inquiries, complaints, or requests for assistance.
About Us
Eastern Bank Compensation & Benefits Highlights
The following summarizes recurring compensation and benefits themes identified from responses generated by popular LLMs to common candidate questions about Eastern Bank and has not been reviewed or approved by Eastern Bank.
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Retirement Support — A defined‑benefit pension layered with a 401(k) and ESOP/cash‑balance elements creates uncommon depth for long‑term wealth building. This retirement stack differentiates the total package versus many regional banks.
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Equity Value & Accessibility — An employee stock ownership plan adds equity participation alongside core pay and benefits. IPO‑related share allocation underscores the program’s role in total rewards.
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Inclusive Benefits Coverage — Long‑standing LGBTQ+ support and sustained recognition for equality practices indicate benefits parity such as equal partner coverage. Employee networks and an inclusion focus are positioned as integral to the overall benefits experience.
Eastern Bank Insights
What We Do
Founded in 1818, Boston-based Eastern Bank is Greater Boston’s leading local bank and the largest bank-owned independent investment advisor in Massachusetts with approximately 110 locations serving communities in eastern Massachusetts, southern and coastal New Hampshire, Rhode Island and Connecticut. Eastern provides a full range of banking and wealth management solutions for consumers and businesses of all sizes including through its Cambridge Trust Wealth Management and Private Banking divisions, and takes pride in its outspoken advocacy and community support that includes more than $240 million in charitable giving since 1994. An inclusive company, Eastern is comprised of deeply committed professionals who value relationships with their customers, colleagues and communities. Member FDIC, Equal Housing Lender Investments are not FDIC Insured • May Lose Value • Not Bank Guaranteed • Not a Deposit • Not Insured By Any Government Agency
