Associate, Recovery

Sallie Mae Bank; New Castle (DE); Hybrid; USD 45,000 - 60,000; Full time

Benefits offered by this job

Competitive base salaries

Bonus incentives

Generous PTO and federal holidays

401k with employer match

Comprehensive medical, dental, vision insurance

Flexible hybrid working arrangements

Tuition reimbursement

Job summary

Sallie Mae Bank is looking for an Associate, Recovery to support loan recovery activities and implement effective collection strategies in New Castle, Delaware. The successful candidate will analyze delinquent loan accounts, coordinate recovery efforts, and maintain accurate documentation of all recovery activities.

Required qualifications include a bachelor's degree in finance or a related field and competencies in financial analysis. The position offers competitive salaries, bonus incentives, and benefits including flexible hybrid working arrangements and comprehensive medical coverage.

Qualifications

• Basic knowledge of financial analysis, credit evaluation, and loan recovery techniques.
• Strong attention to detail and ability to review financial statements.
• Proficient in financial software, databases, and Microsoft Office.

Responsibilities

• Analyze delinquent loan accounts and identify recovery opportunities.
• Support the collection process for delinquent accounts.
• Maintain accurate documentation of loan recovery activities.
• Prepare regular reports on loan recovery activities.

Skills

Financial analysis

Credit evaluation

Loan recovery techniques

Excellent communication skills

Proficiency in Microsoft Office

Education

Bachelor's degree in finance, accounting, or business administration

Tools

Financial software

Job description

Overview

The Associate, Recovery will support loan recovery activities, implement collection strategies, and coordinate efforts to recover outstanding loan amounts.

Responsibilities

• Assist in analyzing delinquent loan accounts, reviewing borrower financial information, and identifying potential risks and recovery opportunities.
• Support the collection process for delinquent accounts, including contacting borrowers, sending reminders, and tracking payment commitments.
• Maintain accurate documentation of all loan recovery activities, including communication logs, payment schedules, and any other relevant information.
• Assist in preparing regular reports on loan recovery activities, including updates on progress, challenges faced, and key performance indicators.
• Monitor repayment schedules and follow up with borrowers on missed payments, coordinating with senior team members or management for further escalation if required.
• Identify process improvement opportunities and propose solutions to streamline loan recovery efforts, enhance efficiency, and minimize losses.

Qualifications

• Minimum – Basic knowledge of financial analysis, credit evaluation, and loan recovery techniques. Familiarity with relevant laws, regulations, and industry practices related to loan recovery and debt collection is desirable. Strong attention to detail, with the ability to review and interpret financial statements and borrower documentation accurately. Excellent communication skills, both written and verbal, with the ability to interact professionally and effectively with borrowers and internal stakeholders. Proficiency in using financial software, databases, and Microsoft Office suite.
• Preferred – Bachelor's degree in finance, accounting, business administration, or a related field. Relevant experience in loan recovery or collections may be considered in lieu of a degree. 1-2 years of experience in loan recovery, collections, credit risk management, or a related field.

Americans with Disabilities Act

The Americans with Disabilities Act of 1990 (ADA) prohibits discrimination by employers, in compensation and employment opportunities, against qualified individuals with disabilities who, with or without reasonable accommodation, can perform the "essential functions" of a job. A function may be essential for any of several reasons, including: the job exists to perform that function, the employee holding the job was hired for his/her expertise in performing that function, or only a limited number of employees are available to perform that function.

Benefits

• Competitive base salaries
• Bonus incentives
• Generous PTO, floating holidays and 12 federal holidays observed
• Support for financial well-being and retirement 401k with employer match
• Comprehensive medical, dental, vision, hospital indemnity, critical illness, pet insurance and more
• Employer paid short-term/long-term disability and basic life insurance
• Flexible hybrid working arrangements
• Paid parental leave and adoption reimbursement programs
• Free access to on-site staffed fitness centers (in Delaware) and gym subsidy (for locations outside Delaware)
• Confidential counseling support (EAP), Health Advocacy services and Wellness program with financial incentives
• Tuition reimbursement and Family Scholarship Programs
• Career development and training opportunities

Equal Opportunity Employer

Sallie Mae is proud to be an equal opportunity (EEO) employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, gender, sexual orientation, national origin, age, genetic information, gender identity, disability, Veteran status or any other characteristic protected by federal, state or local law. Reasonable accommodations are available for applicants with disabilities in all phases of the application and employment process.