Default Solutions Specialist- HiFi Collections

Regions Bank; Salt Lake City (UT); On-site; USD 38,000 - 45,000; Full time

Benefits offered by this job

Paid Vacation/Sick Time

401K with Company Match

Medical, Dental and Vision Benefits

Disability Benefits

Health Savings Account

Flexible Spending Account

Life Insurance

Parental Leave

Employee Assistance Program

Associate Volunteer Program

Job summary

Regions Bank in Salt Lake City, Utah, seeks a Default Solutions Specialist to resolve delinquency status on past due accounts and oversee bankruptcy-related loan servicing. This full-time, on-site role requires a high school diploma and preferred banking experience.

After an initial 90-day training period, a hybrid work schedule may be available based on business needs. Competitive benefits include paid leave, 401(k) matching, healthcare, and more.

Qualifications

• Must have a high school diploma or GED.
• Banking or related experience is preferred (1 year).
• Strong organizational and analytical skills required.
• Proficient in Excel and Word; ability to interpret rules and guidelines.

Responsibilities

• Resolve delinquency status with customers or agencies to minimize losses.
• Collect delinquent payments.
• Ensure files and paperwork are complete and accurate.
• Coordinate with outside parties for documentation.

Skills

Regulatory compliance

Fast-paced environment

Attention to detail

Excel & Word

Customer service

Organization

Education

High school or GED

Tools

Microsoft Excel

Microsoft Word

Job description

Thank you for your interest in a career at Regions. At Regions, we believe associates deserve more than just a job. We believe in offering performance-driven individuals a place where they can build a career --- a place to expect more opportunities. If you are focused on results, dedicated to quality, strength and integrity, and possess the drive to succeed, then we are your employer of choice.

Regions is dedicated to taking appropriate steps to safeguard and protect private and personally identifiable information you submit. The information that you submit will be collected and reviewed by associates, consultants, and vendors of Regions in order to evaluate your qualifications and experience for job opportunities and will not be used for marketing purposes, sold, or shared outside of Regions unless required by law. Such information will be stored in accordance with regulatory requirements and in conjunction with Regions’ Retention Schedule for a minimum of three years. You may review, modify, or update your information by visiting and logging into the careers section of the system.

Job Description

At Regions, the Default Solutions Specialist is responsible for resolving the delinquency status of past due customer accounts either through in-house recovery or through a third party as well as the workout of properties affected by bankruptcy situations.

Primary Responsibilities

• Works with customers directly or through outside agencies/councils to resolve account delinquency status while minimizing company interest losses
• Collects delinquent payments
• Ensures that files and paperwork are properly and accurately completed
• Contacts outside parties to collect or clarify documentation
• Performs processing and maintenance functions as relates to bankruptcy account servicing
• Researches and analyzes past bankruptcy loan history identifying necessary adjustments that ensure the loan is being serviced appropriately and ensures complete resolution for bankruptcy accounts
• Analyzes associated data and performs loan maintenance and/or corrections for bankruptcy loans in the appropriate loan servicing system(s)
• Ensures all cash items are applied per requirements and terms of loan documents, and that all ledgers are in balance and accurate in accordance to the bankruptcy
• Ensures service level agreement deadlines are met on all processes and items are processed within allotted handling times
• Ensures compliance with risk management programs, rules and regulations, and cybersecurity practices; identifies opportunities for and supports process improvements; applies disciplined change management practices
• May coordinate with bankruptcy agencies, courts, and other lien holders

This position requires the tracking of time and is eligible for overtime for hours worked in excess of 40 per week under the Fair Labor Standards Act.

This position is incentive eligible.

Requirements

• High School Diploma or GED

Preferences

• One (1) year of banking or related work experience

Skills And Competencies

• Ability to interpret and ensure compliance with applicable rules, regulations, and industry guidance
• Ability to work in a fast-paced environment
• Detailed oriented
• Proficient in Microsoft Excel and Word
• Strong customer service skills
• Strong organization skills

Strongly Preferred

• Bankruptcy Servicing Experience
• Loan Servicing or Consumer Lending Experience
• Collections and Delinquency Resolution Experience
• Strong Analytical and Research Skills
• Knowledge of Banking Regulations and Compliance Requirements

Ideal Backgrounds: Bankruptcy Servicing, Mortgage Servicing, Consumer Loan Operations, Default Management

Please Note

This position requires full-time onsite attendance for the first 90 days to ensure comprehensive training and knowledge transfer. After the initial training period, team members become eligible for a hybrid work schedule based on business needs and performance expectations.

Proximity To Salt Lake City, UT Required.

Position Type

Full time

Compensation Details

Pay ranges are job specific and are provided as a point-of-market reference for compensation decisions. Other factors which directly impact pay for individual associates include: experience, skills, knowledge, contribution, job location and, most importantly, performance in the job role. As these factors vary by individuals, pay will also vary among individual associates within the same job.

The target information listed below is based on the Metropolitan Statistical Area Market Range for where the position is located and level of the position.

Minimum

Job Range Target:

$37,750.00 USD

Median

$44,940.00 USD

Incentive Pay Plans

This role is eligible to participate in a formulaic incentive plan. Employees have the potential to earn incentives based on performance against defined metrics and goals.

Benefits Information

• Paid Vacation/Sick Time
• 401K with Company Match
• Medical, Dental and Vision Benefits
• Disability Benefits
• Health Savings Account
• Flexible Spending Account
• Life Insurance
• Parental Leave
• Employee Assistance Program
• Associate Volunteer Program

Please note, benefits and plans may be changed, amended, or terminated with respect to all or any class of associate at any time. To learn more about Regions’ benefits, please click or copy the link below to your browser.

https://www.regions.com/about-regions/welcome-portal/benefits

Location Details

Salt Lake City UT LOB

Location:

Salt Lake City, Utah

Equal Opportunity Employer/including Disabled/Veterans

Job applications at Regions are accepted electronically through our career site for a minimum of five business days from the date of posting. Job postings for higher-volume positions may remain active for longer than the minimum period due to business need and may be closed at any time thereafter at the discretion of the company.