Associate, Recovery

About the role

Joining Sallie Mae means becoming a champion for all students. We aim to empower students through their higher education journey, helping them plan, succeed, and prepare for life after school. We are committed to transforming the student experience by evolving and exceeding expectations. We seek individuals passionate about driving this change, breaking barriers, and innovating to better serve students.

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.
• Prepare 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.

Requirements

• 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.

Qualifications

• Minimum: Indicate minimum education, skills and experience required.
  • Indicate minimum education, skills and experience required.
  • 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: Indicate "nice to have" regarding education, skills, and experience.
  • Bachelor's degree in finance, accounting, business administration, or a related field.
  • Relevant experience in loan recovery, collections, credit risk management, or a related field.

Skills

• 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.

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