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Under direct supervision the Loss Mitigation Prospector solicits, communicates, educates, negotiates, and provides general assistance information to title collateral loan customers who are in need of work out alternatives, and assists them on how to launch the application process. The Prospector is the front-line contact to counsel and guide the internal/external customer in workout alternative options based upon customer circumstances. The workout alternative options need to comply with all investor, company, federal and insurer guidelines. The Prospector works in unison with the Title Loan Collateral Processors and Counselors to minimize potential losses to the company, and investors in accordance with departmental and legal guidelines.
Responsible and accountable for risk by openly exchanging ideas and opinions, elevating concerns, and personally following policies and procedures as defined. Accountable for always doing the right thing for customers and colleagues, and ensures that actions and behaviors drive a positive customer experience. While operating within the Bank's risk appetite, achieves results by consistently identifying, assessing, managing, monitoring, and reporting risks of all types.
ESSENTIAL DUTIES AND RESPONSIBILITIES:
Responds to incoming phone inquiries; monitors Auto Loss Mitigation phone line.
Pursues communication with defaulted customers utilizing inbound and manual dialing to offer potential workout alternatives.
Contacts delinquent customers to obtain payment commitments.
Makes collection/demand calls with an account load defined by applicable capacity model.
Analyzes customer's situation and collateral risk to present alternative solutions including, Repayment Plans, Modifications, Settlements, and Delinquency Deferments.
Assists in identifying, negotiating and pursuing the appropriate loss mitigation option that best maximizes customer satisfaction and investor return.
Reviews, negotiates and recommends action on requests for proposed repossession alternatives within the timeframes established by management.
Identifies, evaluates and resolves reasons for delinquency.
Explains all workout options within company / investor / insurer guidelines and knows the requirements of each one.
Quotes reinstatement amounts, payoffs, and sets up repayment plans within the system.
Pursues resolution on referrals of non-delinquent customers who request alternatives to allow ownership retention.
Ensures that all required documentation has been requested and received from the customer.
Record all collection efforts via the collection system.
Recommends additional actions with Management assistance on delinquent accounts.
Escalates calls and/or problem accounts to supervisor, repossession, legal or collection agencies as appropriate.
Provides feedback to management for ideas on process improvement and suggestions for the specialty collections unit.
Complies with the Fifth Third Quality Assurance Desktop Procedure guidelines.
Provides administrative support as directed by management.
Performs other duties as business needs dictate as directed by management
MINIMUM KNOWLEDGE, SKILLS AND ABILITIES REQUIRED:
High School Diploma or equivalent required.
Minimum one year customer service or collection experience required.
Attention to detail.
Strong computer skills.
Excellence in consulting and advising customers via telephone and written communication.
Excellent customer service skills with both external and internal customers.
Excellent communication, comprehension, listening and negotiation skills.
Ability to meet deadlines.
Ability to analyze and suggest resolution to problems.
Familiarity with financial statements, tax returns, credit reports, and other documents used to evaluate a pre-repossession remedy.
Basic analytical, problem solving and mathematical skills to be used in financial counseling and evaluation and interpretation of complex information.
Basic understanding of consumer lending and servicing.
Must be able to work in a team environment to interact well with employees and all levels of the organizations.
Proficient in Microsoft Word, Outlook, Access and Excel with a minimum level of Intermediate.
Title Collatrl Loss Mit Prospector
LOCATION -- Grand Rapids, Michigan 49546
Fifth Third Bank, National Association is proud to have an engaged and inclusive culture and to promote and ensure equal employment opportunity in all employment decisions regardless of race, color, gender, national origin, religion, age, disability, sexual orientation, gender identity, military status, veteran status or any other legally protected status.
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