Default Loan Specialist
$42,000–$55,000 year
On-siteRosemont, Illinois, United States
Rosemont, Illinois, United StatesOn-siteFull Time$42,000–$55,000 yearHigh School Or EquivalentLarge
Full TimeHigh School Or EquivalentLarge
Job Summary
Conduct daily collection calls on delinquent small business loans and maintain detailed records of contacts, payment arrangements, and resolution efforts. Meet with borrowers virtually or in-person to formulate loss mitigation plans and perform site visits to inspect collateral as needed. Enforce bank legal rights by coordinating with outside counsel and third-party professionals for litigation while resolving borrower concerns to reduce losses. Work directly with Team Leads and Loan Officers on account issues, ensuring compliance with regulatory standards throughout the process.
Required Qualifications
- High school diploma or GED
- Minimum 3 years' collections and/or loss mitigation experience
- Comprehensive understanding of collections, loss mitigation, and bankruptcy laws
- Excellent verbal and written communication skills
- Strong judgment, problem-solving capabilities, and customer service skills, with the ability to handle complex, non-routine financial matters
- Proficient in Microsoft Office applications (specifically Excel)
- Some travel and site visits may be required
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