Collections Specialist

About the role

This is a Utah-based hybrid position requiring some regular in-office days each week. Employment is contingent on passing a background check and maintaining a clean background.

Responsibilities

• Manage a portfolio of delinquent subprime consumer loans with the primary objective of minimizing losses through effective collections strategies.
• Proactively contact delinquent customers via phone, email, and written correspondence to secure payments and bring accounts current.
• Establish contact with borrowers and set up repayment terms that are manageable for the customer and acceptable to the bank.
• Work with customers to understand their financial situations and negotiate appropriate payment arrangements while maintaining compliance with company policies and regulations.
• Engage in skip tracing efforts to locate borrowers and collateral to enable productive collection efforts.
• Utilize various tools and techniques to locate borrowers and encourage repayment of past-due accounts.
• Accurately document all collection efforts, customer interactions, and payment commitments in the loan servicing system.
• Provide professional and empathetic customer service while balancing the need for collections and recovery.
• Build relationships with borrowers and promote a successful loan experience despite difficult circumstances.
• Work closely with internal departments, including underwriting, customer service, and legal teams, to develop and execute effective recovery strategies.
• Determine appropriate next steps which may include the assignment of repossession, litigation, or involvement with other third-party vendors.
• Properly and accurately document account activities.
• Make recommendations to management regarding accounts needing additional attention.
• Contribute to a positive and mutually beneficial cohesion with team members.
• Assist in other areas of the department as required by business needs.
• Ensure all collection activities comply with federal, state, and local regulations, including the Fair Debt Collection Practices Act (FDCPA) and company policies.

Requirements

• Responsible, honest, and strong work ethic.
• Professional behavior and appropriate relationships with coworkers and colleagues.
• Ability to handle difficult conversations professionally.
• Detail-oriented with strong organizational skills.
• Professionally answer incoming calls and assist the caller effectively.
• Ability to nurture and manage business relationships with third-party loan servicers and other vendors.
• Excellent verbal and written communication skills.
• Proficiency in Microsoft Office Suite.
• Ability to successfully work in a team environment.

Qualifications

• High school diploma or equivalent required.
• Minimum of 1–2 years of experience in collections, subprime lending, or consumer finance; experience with delinquent loan recovery preferred.

Skills

• Bilingual (Spanish) is a plus.

Physical Demands and Requirements

• Cubicle or home office with minimal exposure to distractions or environmental hazards.

Benefits

• Comprehensive benefits including medical, dental, vision, disability, and life insurance.
• 401K with a company match.
• PTO including 11 paid holidays, vacation time, and sick time.
• Financial Wellness Program.
• Volunteer Opportunities.