Loan Specialist - 088

Colonial Group; Centralia (IL); Hybrid; USD 42,000 - 54,000; Full time

Job summary

Colonial Group is seeking a Loan Specialist to support branch operations by processing loan applications, assembling and verifying loan documents, and ensuring regulatory compliance. The role involves handling paperwork, payment arrangements, and extensions while mitigating risks.

The position requires strong customer service, collections experience, and solid math skills, with a focus on accurate data entry and attention to detail in a fast-paced office setting.

Qualifications

• 1 year customer service experience in any field.
• 6 months collections experience.
• High School/GED preferred.
• Demonstrates a positive attitude, strong work ethic, and a collaborative approach, contributing to a respectful and productive work environment.
• Excels in building and maintaining strong customer relationships, with excellent communication and active listening.
• Strong organizational skills, ability to manage multiple tasks and meet deadlines with attention to detail.
• Proficient in basic math, including addition, subtraction, multiplication, and division, for data analysis and calculations.

Responsibilities

• Persuade customers to pay due amounts or arrange payment by phone or mail; explore refinancing options to bring accounts current.
• Ensure loan requirements are explained and properly closed.
• Make collection calls on overdue accounts to recover balances.
• Use company location services to locate past due customers.
• Review pending applications and contact prospects to ensure accurate and timely processing.
• Support account growth by selling loans to former and prospective customers.
• Sell ancillary products where applicable (taxes, referrals, car club).
• Maintain loan documents and forms per company guidelines and regulatory requirements.
• Prepare copies of financial and legal documents as requested.
• Enter payments into loan management software and keep customer data up to date.
• Maintain collection notes on account screens and accommodate payment extensions.

Skills

Customer service

Collections experience

Communication

Organization

Multitasking

Math proficiency

Education

High School Diploma or GED

Tools

Loan management software

Job description

As a Loan Specialist, this position supports the branch manager in maintaining a profitable and well-managed office by ensuring efficient administration and compliance in loan processing. This role includes accurately processing loan applications, assembling and verifying loan documents, and handling all paperwork to maintain regulatory compliance. By diligently following organizational and regulatory guidelines, the Loan Specialist helps mitigate risk and avoid potential losses.

Responsibilities also include contacting customers regarding payment arrangements, facilitating loan extensions and modifications, and handling pay schedules as needed. In the manager's absence, this role oversees office operations to maintain continuity and productivity.

Job duties include:

• Attempts to persuade customers to pay the amount due or arrange for payment via phone, or mail. Identifies solutions for customers to refinance accounts and bring accounts current.
• Properly closes loans by ensuring all loan requirements are explained.
• Execute collection calls on overdue accounts.
• Uses company provided location services to locate past due customers.
• Ensures accurate and timely processing of applications by regularly reviewing pending applications and contacting prospective customers.
• Ensures continual account growth by selling loans to former and prospective customers.
• Sells ancillary products including taxes, referrals and car club (where applicable).
• Maintains all necessary forms and loan documents for accounts in accordance with company guidelines, federal and state law.
• Prepares copies of financial and legal documents as requested.
• Ensures accurate and timely processing of loans by providing accurate computer input and keeping customer information up to date.
• Enters payments into loan management software.
• Accommodates for payment extensions and properly maintains collection notes on account screens.

Requirements:

• 1 year Customer Service experience in any field
• 6 months Collections experience, a plus
• High School/GED preferred
• Demonstrates a positive attitude, strong work ethic, and a collaborative approach, contributing to a respectful and productive work environment.
• Excels in building and maintaining strong customer relationships, demonstrating excellent communication, active listening, and persuasive sales techniques to drive customer satisfaction and business growth.
• Strong organizational skills, with the ability to manage multiple tasks efficiently, prioritize responsibilities, and meet deadlines while maintaining attention to detail.
• Proficient in basic math skills, including addition, subtraction, multiplication, and division, with the ability to apply these skills to analyze data and perform calculations accurately.

Must have availability to work:

• Monday - Thursday 8:30 am - 5:30 pm.
• Fridays 8:30 am - 6:00 pm.
• Saturdays 8:30 am -12:30 pm (rotational basis related to office needs).
• Some overtime may be required.
• No Sundays!