Associate, Loan Servicing Legal Operations

OppFi, Inc.; Chicago (IL); Hybrid; USD 59,000 - 89,000; Full time

Job summary

An established industry player seeks a detail-oriented Associate for Legal Operations. This hybrid role involves managing vendor payments, overseeing legal collections, and collaborating with cross-functional teams to enhance operational processes. Join a mission-driven team that values transparency and financial inclusion, where your contributions will directly impact the community. Enjoy a supportive work environment that fosters growth and innovation, while offering competitive compensation and a variety of benefits. If you're passionate about making a difference in financial services, this opportunity is perfect for you.

Benefits

401(k) matching program

Generous paid time off

Medical, dental, and vision coverage

Tuition reimbursement

DoorDash DashPass

Figo pet insurance

Access to LinkedIn Learning

Fringe lifestyle benefits platform

Qualifications

• Experience in banking or consumer lending is essential.
• A Notary license in Illinois is required or to be obtained within 6 months.

Responsibilities

• Manage vendor payments and ensure customer account updates.
• Collaborate with internal teams for operational efficiency.

Skills

Attention to detail

Independent problem solving

Project management

Customer service

Collaboration

Process improvement

Education

Notary license in Illinois

Professional experience in banking or consumer lending

Tools

Microsoft Office (Excel)

Google Suite

SQL

Job description

Join to apply for the Associate, Legal Operations role at OppFi

OppFi is a tech-enabled, mission-driven specialty finance platform that broadens the reach of community banks to extend credit access to everyday Americans. Through best-in-class customer service, transparency, responsible lending, and financial inclusion, we support consumers, who are turned away by mainstream options, to build better financial health.

We are a team of caring, innovative, and inclusive individuals who thrive in being immersed in diverse talents, expertise, perspectives, and backgrounds. Our employees approach every new challenge with an unparalleled ability to see what could be rather than settle for what is. Our business principles guide us and create an open and collaborative culture where we improve 1% every day, and the best ideas always win! We welcome individuals who want to make an impact in the financial system by facilitating credit access, expanding financial inclusion, promoting financial health, and delivering exceptional customer service.

A few other fun facts about us: OppFi is one of the top consumer-rated financial platforms online, maintaining a 4.5/5.0-star rating on Trustpilot. We are a 2023 Crain’s Fast 50 company and were named on Built In's 2024 Best Places to Work in Chicago.

• This is a hybrid position located in Chicago, IL and not fully remote.

What You Get To Do:

• Manage the complete process of Collections & Recovery vendor payments and ensure updates are made to customer accounts.
• Oversee and participate in the execution of legal collections affidavit processing in our Chicago Office.
• Verify account information such as balance, payment activity and origination dates.
• Work with Collection Strategy to implement necessary changes related to business intent for Collections & Recovery vendors.
• Act as the first level escalation point with Operations in area of expertise.
• Partner with internal business teams such as Accounting; Credit Reporting; Business Intelligence; Legal and Compliance to perform duties such as:
• Regularly scheduled reconciliations activities.
• Refine and develop processes to ensure operational activities are well managed.
• Assist in the development and enhancement of operational reporting for Collections & Recoveries vendor activities.
• Resolve disputes and escalations related to customer records.
• Investigate, resolve, and escalate issues related to customer payment records with Collections & Recoveries vendors in a timely manner.
• Follow all operational procedures and keep track of critical updates.
• Collaborate with cross-function teams to research, analyze and address complex account related issues, ensuring timely and effective remediation while following Customer Solutions leadership guidance.
• Work to find solutions and opportunities for process optimization.
• Maintain consistent and high level execution of recurring responsibilities.
• Support Customer Solutions processes on an ad hoc basis as directed serving in a back-up capacity for tasks such as Hardship, SCRA/MLA, Refund, Bankruptcy, Check Processing, etc.
• Assist in conducting thorough account reviews by verifying the accuracy and reliability of manual calculations for account adjustments.
• Adapt to evolving responsibilities and contribute as needed to support the success of the Customer Solutions Department.

What You Will Bring To The Team:

• A Notary license in the state of Illinois or able to obtain a notary license in the state of Illinois within 6 months of hire date.
• Professional experience working in banking or consumer lending.
• Ability to execute clearly defined projects consistently with independent problem solving.
• Experience working, supporting or partnering with internal and external business clients.
• Attention to detail and enjoy owning work and taking charge on projects when needed.
• Able to drive initiatives and manage projects working with cross-functional teams.
• Have experience in contributing to operational or cross functional projects that drive efficiency and scaling of manual work.
• Familiar with process improvement methodologies and how to use them.
• Strong understanding of Microsoft Office (Excel) and Google Suite (Sheets, Slides, etc.).
• Beginner knowledge of SQL.
• 1+ years in Payments processing experience.
• Proven ability to quickly learn and understand complex topics.

What Will Set You Apart:

• 2+ years of operational experience in financial services.
• 6+ months of project management experience.
• Intermediate to advanced knowledge of SQL.
• Business Process Management, Scrum or Agile certifications.
• Experience in Collections & Recovery vendor partnerships.

Reports to: Team Lead, Loan Servicing
Job Level: Associate
Location: Chicago (Hybrid)
Total Rewards And Benefits: At OppFi, we are committed to fostering a fair and equitable workplace. The compensation range for this role reflects our good faith compensation estimate for this position. Final offers are determined based on a myriad of factors including, but not limited to experience, skills, qualifications, and other relevant business considerations. Candidates are encouraged to discuss compensation expectations during the hiring process. In addition to base pay, the total compensation package includes eligibility and potential for performance-based bonuses and equity grants dependent upon the role and job level. OppFi offers a flexible, remote environment, 401(k) matching program, and generous paid time off. Other benefits include medical, dental, and vision coverage, and tuition reimbursement. Additional benefits include DoorDash DashPass, Figo pet insurance, Rocket Lawyer, and access to LinkedIn Learning. OppFi also offers Fringe, a lifestyle benefits platform that allows employees to decide how to spend rewards from dozens of vendors like Uber, DoorDash, and UrbanSitter.Compensation Range: $59,200 - $88,800 USD
EEO Statement: OppFi is an equal opportunity employer and does not discriminate based on any actual or perceived legally recognized protected bases under local, state, federal law, or regulations. Our goal as a company is to build an equitable workplace that actively works to dismantle systems of oppression in our processes, procedures, and interactions. We aim to help our employees thrive where they work and beyond. As part of OppFi’s commitment to providing equal opportunity to qualified individuals, OppFi will ensure that persons with disabilities are provided reasonable accommodation as defined by applicable laws and organizational policies. If reasonable accommodation is needed to participate in the job application or interview processes or job requirements, please contact our People Team at [e-mail].