Job Opportunities in United States
November 6, 2024
KeyBank
Brooklyn
FULL TIME
Consumer Personal Loan Collections Specialist
Location:
4910 Tiedeman Road - Brooklyn, Ohio 44144
Location: This role will require on-site training for minimally the first 2 weeks. After training is completed, the role will be Monday- Friday with Wednesday being a required day to work in the office
Hours: Monday- Thursday the hours will be between 8 am-7 pm and Friday is a set schedule of 8 am-5 pm.
Collections experience is required for this position!
Collections experience is required for this position!
JOB BRIEF (PURPOSE):
Work with Key Bank clients/borrowers to understand specific situations; identify and request appropriate information during verbal application where customers with non-real estate (NRE) consumer loans request hardship assistance. The NRE Single Point of Contact (SPOC) uses a “One Call Resolution” strategy to decide the request while the customer is on the phone. Expected to engage, understand, and advise borrowers of available options to resolve nonreal estate secured and unsecured delinquency.
ESSENTIAL JOB FUNCTIONS:
- Initiates outbound contact with borrowers to determine the "reason for the default", borrower intent, financial ability to repay debt, and to identify potential loss mitigation options/solutions.
- Balance multiple priorities and tasks such as inbound/outbound phone calls, letter generation, trial payment, and document tracking.
- Answer inbound phone inquiries from borrowers regarding the status of loss mitigation, modifications
- Interview borrowers to understand their specific situation; identify and request appropriate documents required for workout review.
- Assists customers who are in a loan default situation to find solutions to maintain collateral ownership or to identify and discuss property liquidation options when a modification is not appropriate.
- Reviews and coordinates routine to complex workouts and or coordinates short sale liquidations.
- Knowledge and understanding of default servicing, loan default legal process, and legal terminology.
- Handle all customer emails and voicemails that are assigned
- Access information in multiple systems to inform borrowers of loan workout terms, important dates, and deadlines.
- Make "good faith" payment arrangements with the borrower to ensure the account does not fall further behind while loss mitigation options are being evaluated.
- Notify and inform borrowers of changes to dates/timelines and decisions as they are made.
- Provide information to borrowers concerning escalation/complaint procedures and processes per CFPB guidelines.
- Efficiently handled a variety of customer inquiries, via phone calls and written correspondence, regarding the customer's loan.
- Become a "subject matter expert" (SME) on non-real estate secured and unsecured loss mitigation options and qualification requirements.
- Minimize call escalations by gaining our customer's trust and keeping our promises.
- Prioritize quality and efficiency in resolving customer issues.
- Ensures compliance with all applicable federal and state laws, regulations, investor requirements, and CFPB Servicing Guidelines.
- Maintains appropriate records and documents the system of record in order to preserve a history of actions taken or denied.
- Verbally collect customer financial information to render a decision on Non-Real Estate accounts
- Monitor for and process Trial Payments, as applicable.
- Operate as a loss mitigation/SPOC SME and operate as a mentor to other peers.
- Taking escalated calls from Peers following up with customers with escalated issues to identify root causes, and using problem-solving skills to resolve the issues.
- Work with Legal and Compliance to review and gather requested information for Executive Client Resolutions
- Conduct a preliminary review of loss mitigation applications. Notate collection system to preserve a history of actions taken. Assign completed applications to loss mitigation analysts for analysis. Adhere to all Government Regulations and Key Bank policies.
- Reviewing and responding from within the escalation mailbox daily to bring peer questions and potential issues to resolution
- Responsible for training new hires
- Perform call monitoring/scoring and deliver to manager for coaching/review
- Act as SME within the change control process for procedure review and implementation
- May assist with the “on-the-job” training process, conduct loss mitigation training sessions, assess new hires, identify additional training needed, report training progress and completion to management, and maintain training materials
- Manage medium-range loss mitigation process improvement or new projects
- Oversight of loss mitigation exceptions to ensure remediation is completed timely
- Other duties may be assigned.
REQUIRED QUALIFICATIONS:
- High School Diploma or GED Equivalent required.
- Two to three years of banking loss mitigation experience is required.
- Strong organizational and analytical skills.
- Strong PC skills with the ability to execute processes in the Bank's standard software programs, and the ability to work with minimal supervision. Must be proficient in MS Windows, MS Outlook, MS Office Suite, MS Share Point, and MS Project.
- Excellent verbal and written communication and listening skills.
- Ability to work under pressure and stress and respond to inquiries with tact, diplomacy, and patience.
- Has knowledge of commonly used terminology, concepts practices, and procedures within the consumer non-real estate product industry –i.e. closed-end loans, open-ended lines of credit, credit cards, and student loans.
- Strong business writing and math skills.
PREFERRED QUALIFICATIONS:
- Non-Real Estate Collections or default-related experience is preferred.
- Bilingual (English/Spanish)
- A BA/BS degree in a business-related field preferred
About Key Bank:
Working at Key is an opportunity to join a company committed to your success and the success of the clients and communities we serve. We offer our teammates the skills, mentoring and training needed to meet their career goals and better serve our clients.
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