Loss Mitigation Specialist

OneMain Financial; West Valley City, Northern (UT, KY); On-site; USD 21,000 - 30,000; Full time

Job summary

OneMain Financial is seeking a Loss Mitigation Specialist/Late Stage Collector for onsite work in West Valley City, UT. The role focuses on reviewing accounts for loan modifications to maximize repayment while following policy, government, and regulatory guidelines.

You will handle customer calls, prepare modification documents, and coordinate with repossession vendors as needed. The position offers hourly pay with bonus potential and a Monday–Friday schedule with a rotating Saturday.

Qualifications

• 2 years of collections experience.
• High school diploma or GED required.
• Experience handling customer accounts via phone.

Responsibilities

• Review consumer accounts to identify loan modification options.
• Answer incoming calls to work out mutually beneficial arrangements.
• Prepare written correspondence advising modification opportunities.
• Create and review modification documents to send to customers.
• Audit modification documents for required information and update servicing system.
• Ensure workout plans meet policy guidelines and protect company risk.
• Maintain and establish repossession and transport vendor relationships.
• Assign accounts for repossession to approved agents.
• Complete applicable paperwork including Federal and State regulation letters.
• Perform other duties as assigned by Loss Mitigation Team Lead.

Skills

Call center experience

Multitasking

Negotiation skills

Attention to detail

Spanish bilingual

Education

High school diploma or GED

Job description

As a Loss Mitigation Specialist/Late Stage Collector, you will review accounts for possible loan restructuring or other workout plans through evaluating customer income and expenses. Restructure loans for maximum likelihood of repayment while meeting all policy, government, and regulatory guidelines. Locate customers using skip tracing tools to collect on deficiency balance.

In the Role

• Reviewing and analyzing consumer accounts to identify how the loan can be modified to mitigate loan loss.

• Answering incoming calls and speaking with customers to work out a mutually beneficial arrangement.

• Preparing written correspondence to be sent to customers to advise of modification opportunity.

• Create and review modification documents to be sent to customers.

• Audit modification documents to ensure all required information has been received and process modification in servicing system.

• Ensure all loan workout plans meet policy guidelines and protect the company for risk.

• Maintain and establish new repossession and transport vendor relationships.

• Assign accounts out for repossession to an approved repossession agent.

• Completes required applicable paperwork including sending all required Federal and State regulation letters.

• Other duties as assigned by the Loss Mitigation Team Lead.
  

Requirements:

• Collections 2 years
• High school or GED required
• Call center experience

Preferred:

• Bilingual (Spanish)
• Great multitasking skills
• Outstanding phone and negotiation skills.
• Detail oriented and quality focused

Location:

Onsite in West Valley City, UT

Pay:

hourly + bonus potential

Schedule:

Monday through Friday from 9:30am-6:00pm with a rotating Saturday every 6-8 weeks

Who we Are

OneMain Financial (NYSE: OMF) is the leader in offering nonprime customers responsible access to credit and is dedicated to improving the financial well-being of hardworking Americans. Since 1912, we've looked beyond credit scores to help people get the money they need today and reach their goals for tomorrow. Our growing suite of personal loans, credit cards and other products help people borrow better and work toward a brighter future. Driven collaborators and innovators, our team thrives on transformative digital thinking, customer-first energy and flexible work arrangements that grow lives, careers and our company. At every level, we're committed to an inclusive culture, career development and impacting the communities where we live and work. Getting people to a better place has made us a better company for over a century. There's never been a better time to shine with OneMain. Because team members at their best means OneMain at our best, we provide opportunities and benefits that make their health and careers a priority. That's why we've packed our comprehensive benefits package for full- and some part-timers with:

• Health and wellbeing options including medical, prescription, dental, vision, hearing, accident, hospital indemnity, and life insurances
• Up to 4% matching 401(k)
• Employee Stock Purchase Plan (10% share discount)
• Tuition reimbursement
• Paid time off (15 days' vacation per year, prorated based on start date)
• Paid sick leave as determined by state or local ordinance (prorated based on start date)
• 11 Paid holidays (4 floating holidays, prorated based on start date)
• Paid volunteer time (3 days per year, prorated based on start date)