Title Collatrl Loss Mit Prospector

Fifth Third Bank Grand Rapids , MI 49504

Posted 2 months ago

Make banking a Fifth Third better

We connect great people to great opportunities. Are you ready to take the next step? Discover a career in banking at Fifth Third Bank.

GENERAL FUNCTION:

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

SUPERVISORY RESPONSIBILITIES:

None.

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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VIEW JOBS 2/27/2020 12:00:00 AM 2020-05-27T00:00 Make banking a Fifth Third better® We connect great people to great opportunities. Are you ready to take the next step? Discover a career in banking at Fifth Third Bank. GENERAL FUNCTION: Under moderate supervision the Loss Mitigation Counselor initiates contact and provides assistance to title collateral loan customers who are in default; Counsels and guides the customer in order to achieve work out alternatives based upon customer's circumstances while complying with all investor, company, federal and insurer guidelines. The counselor works to minimize potential losses on delinquent loans by contacting the borrowers and/or their agents, attorneys, and insurers to work toward resolution of the delinquency in accordance with departmental and legal guidelines, while ensuring company and investor goals. 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: * Pursues communication with defaulted customers utilizing 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. * Complies with the Fifth Third Quality Assurance Desktop Procedure guidelines. * 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. * Provides proper and timely responses to customer correspondence in compliance with company, state and federal guidelines. * Ensures that all requested documentation has been requested and received from the customer. * Identifies, evaluates and resolves reasons for delinquency. * Explains all workout options within company/investor/insurer guidelines and know the requirements of each one. * Quoting reinstatement amounts, payoffs, and setting up repayment plans within the system. * Pursues resolution on referrals of non-delinquent customers who request alternatives to allow ownership retention. * Makes decisions regarding account actions within federal guidelines. * Ensures that all required documentation has been requested and received from the customer. * Records 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. * Provides administrative support as directed by management. * Processes payment checks, documents, lien releases, and checklists. * Trains and mentors new and fellow employees on department policy and process procedures and provides constructive feedback to management. * Answers peer questions, and functions as departmental subject matter expert. * Handles escalated tasks including Presidential Complaints and disputes. * Performs other duties as business needs dictate as directed by management. SUPERVISORY RESPONSIBILITIES: None. MINIMUM KNOWLEDGE, SKILLS AND ABILITIES REQUIRED: * High School Diploma or equivalent required. * Minimum two years collection experience, including knowledge of basic default timelines/procedures. Loss Mitigation experience is desired. * Knowledge of bank-owned, investor and insurer guidelines for consumer lending. * Excellent written and verbal communication, comprehension, listening and negotiation skills. * Ability to meet deadlines and work independently with medium level of supervision. * Strong analytical, problem solving and mathematical skills to be used in financial counseling and evaluation and interpretation of complex information. * 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 Collateral Loss Mitigation Counselor LOCATION -- Grand Rapids, Michigan 49508 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. Fifth Third Bank Grand Rapids MI

Title Collatrl Loss Mit Prospector

Fifth Third Bank