Special Servicing and Collections Associate

Job Description

Description

At SoFi, you’ll become part of a new kind of finance company whose ambition is to help our members achieve financial independence and reach their goals. We aim to be at the center of our members’ financial lives, and to help every member get their money right. We created student loan refinancing, addressing the biggest financial challenge of a new generation through a modern approach to lending and personal finance. Next we expanded our products and services across loans, wealth management, and insurance. SoFi Money—a modern take on a checking or savings account--is our newest innovation and disruption to the financial services industry. SoFi has achieved significant growth, with ambitious plans ahead, but to continue this growth we need great talent. And that starts with you.
You will be a part of a meticulously assembled team that shares this passion for resolving delinquent loans at or ahead of target goals while delivering an outstanding member experience. The Collections Representative is responsible for improving collection rates by employing comprehensive collection efforts, skip tracing, and all duties subsequent to loan funding (e.g. customer payment, forbearances, due date changes) hardship requests, as well as monitoring ongoing portfolio delinquency levels. This role reports directly to the Manager of Loan Servicing.
Essential Functions & Responsibilities
• Work with customer to satisfy any deficient balances
• Review, monitor, and engage with a high volume of customers per day
• Review delinquent accounts daily, and maintains losses at or below established guidelines for assigned job duties
• Accurately documents all account activities and pertinent information to include but not limited to verifications and demographic changes
• Meet individual and departmental objectives set by department management
• Efficiently asses and recommend action to borrowers concerning all other loan issues
• Make recommendations to management for loans needing additional attention
• Effectively use skip tracing tools to locate borrower information
• Strives to continuously improve the quality and productivity of work
• Be an important part of a lean but growing team with touch points across the organization
• Some evening and weekend hours will be required.
Qualifications
• 1 to 3 years’ of first or third party collection experience. Experience in a financial environment is desired; consumer delinquency and collections, credit underwriting, or customer service experience preferred
• Strong ability to negotiate repayment plans for varying levels of delinquency
• 1 to 3 years of customer service experience with an aptitude in deescalating difficult situations
• College degree desired. High school diploma or GED required
• Exceptional organizational skills and attention to detail
• Strong work ethic and pride in work product
• Firm understanding of personal finance and credit industry best practices
• Intermediate Excel skills and general computer literacy
• Aptitude for working independently while maintaining a team first mentality
• Ability to work under tight deadlines and exhibit grace under pressure
• Desire to improve borrowers’ financial situation but ability to make tough decisions
• Excellent written and verbal communication skills
• Proficiency in Microsoft Office, Google and ability to learn proprietary systems
• Ability to take on projects as needed

Benefits

• Competitive salary packages and bonuses.

• Comprehensive medical, dental, vision and life insurance as well as disability benefits.

• 100% of medical, vision, and dental premiums paid by SoFI for employees and their dependents.

• Generous vacation and holidays

• 401(k) and education on retirement planning.

• Tuition reimbursement on approved programs, up to $5,250 a year.

• Monthly contribution to help you pay off your student loans.

• Employer paid lunch program and subsidized gym membership.