Default Associate

Eastern Bank; Wakefield (MA); On-site; USD 30,000 - 50,000; Full time

Benefits offered by this job

Benefits package

Retirement plan

Job summary

Eastern Bank is seeking a Default Management Associate I to support past-due accounts and deliver effective resolutions in a compliance-driven environment. The role emphasizes customer service, accurate payment processing, and strong collaboration across teams.

Ideal candidates have a financial discipline background or 3–5+ years in related roles, with excellent communication and proficiency in Microsoft Office and banking software. Growth and retirement benefits are available.

Qualifications

• Bachelor's degree in a financial discipline preferred or 3–5+ years of related experience in customer service/financial industry.
• Proven customer service experience and knowledge of bank products and regulations.
• Strong written and verbal communication skills; proficient with Microsoft Office.
• Experience with bank applications and software (FIS Insight, Collections, Caller software, Optima, Sales Management).

Responsibilities

• Provide exceptional customer service and meet call requirements.
• Process payments accurately and review queues for complex cases.
• Support with training and guidance to junior staff; handle escalations as needed.
• Identify and research operational or system issues and participate in projects.

Skills

Customer service

Banking products

Communication

Microsoft Office

Bank software

Process ownership

Education

Bachelor's degree in a financial discipline

Tools

FIS Insight

Collections software

Caller software

Microsoft Office

Job description

Pay Range: $22.74-$36.55
The posted salary range reflects Eastern’s expected hiring range. Actual pay may vary based on experience, skills, and market factors; additional compensation may apply. Eastern offers a robust benefits and retirement package. Please see the description of benefits included with this job posting for additional information.

Default Management is a department within the Corporate Credit Division with the responsibility of partnering with Eastern Bank Consumer and Business Banking customers to effectively address past due accounts and provide solutions in orderto curedelinquencies and promote timely payments.Default Management utilizes omnichannel customer communications, utilizes effective risk management strategies, seeks to deliver superior customer experiences, and meets high regulatory compliance standards.

Responsibilities:

• Providing exceptional Customer Service.
• Meet established call requirements (for both Compliance and Customer Service).
• Process payments accurately.
• Assume ownership for in depth review of queues as assigned.

Support Default Associate I by:

• Providing training and guidance with Bank applications, systems, and procedures.
• Handle more complex inquiries that require an experienced Collector.
• Generate customer correspondence (all available channels).
• Process servicing requests. & log customer complaints.
• Identify operational/system issues in need of research/follow up.
• Projects as assigned.
• Attend seminars, training to gain advanced knowledge of collections arena.

Education and Experience

A bachelor’s degree in a financial discipline is preferred or 3 - 5+ years of related work experience in a Customer Service/Financial related industry.

Skills/Knowledge

• Proven customer service experience.
• Knowledge of Bank products, collection laws and regulations.
• Strong written and verbal communication skills.
• Ability to use Microsoft products such as Outlook, Word, Excel and PowerPoint.
• Experience with Bankapplications and software including but not limited to FIS Insight, Collections ,Caller software,Optima, and Sales Management.
• Train and collaborate with Default Associate I & III’s, Default Management Admin Team, Loss Mitigation Team, and Default Managers.
• Ownership of processes as assigned.
• In depth review, maintenance and follow up for special queues.
• Handle moderately complex customer inquiries, complaints, or requests for assistance.