Loss Mitigation Specialist - Reno

Loss Mitigation Specialist - Reno

At Old Second, you're first! For more than 150 years, Old Second has consistently put businesses and individuals throughout the Chicago area first, and we're only getting started.

With great employees we've grown from a single location in the back of a general store to 50 locations and over $6 billion dollars in assets. At Old Second we embrace values that foster an environment of community and growth. Recently, we've been voted a Forbes Best-In-State Bank for Illinois by our customers. Be a part of something big as we continue our growth story together!

Position Overview

The Loss Mitigation Specialist is responsible for securing recoveries for the Collections Department to help ensure monthly charges-offs remain at a minimum.

Essential Job Functions all levels

• Locate and notify customers of delinquent accounts (90 120 days) by mail, telephone or email to solicit payment on motorsport loans.
• Advise customers of necessary actions or strategies for repayment, negotiate payment arrangements and research discrepancies (terms of sales, service, or credit contracts).
• Trace delinquent customers to new addresses through research (inquiries to credit bureaus, phone companies, etc.).
• Research and analyze overdue accounts prior to initiating skip tracing efforts. Follow up with repossession/skip sources to ensure timely updates on sensitive information.
• Effectively manage the assigned specialized desk to maximize recoveries.
• Answer incoming calls. Answer customer questions, take payments and service current accounts.
• Perform office duties such as filing correspondence, answering emails and creating internal reports.
• Ensure operational integrity through compliance with all policies, procedures and regulations.

Minimum Qualifications:

Loss Mitigation Specialist (Level I, II):

• High school diploma (or equivalent) and one year of related experience (customer service, collections, or related); or equivalent combination of education and experience.
• Must work a flexible schedule inclusive of weekends and overtime to meet business needs.

Loss Mitigation Specialist (Level III):

• High school diploma (or equivalent) and two years of related experience (customer service, collections, or related); or equivalent combination of education and experience.
• Must work a flexible schedule inclusive of weekends and overtime to meet business needs.

Competencies - All levels

• Excellent oral/written communication, negotiation and active listening skills.
• Strong attention to detail and accuracy while maintaining work in a fast-paced environment
• Knowledge of skip tracing, state/federal collections laws and queue management techniques.
• Demonstrates adherence to privacy and confidentiality guidelines.
• Maintains calm and professional demeanor in stressful situations.
• Proficient in Microsoft Word, Excel and Outlook. General working knowledge of internet-based applications, or Jack Henry SilverLake

Preferred, but not required

• More than one year of collections experience with a focus in auto or powersport collections.
• Bi-lingual English and Spanish
• Previous experience utilizing Jack Henry SilverLake

NOTE: This job description is not intended to be all-inclusive. Employee may perform other duties as assigned to meet the ongoing needs of the organization.

Location Details

This position is considered a hybrid role. With management approval, an incumbent may work a combination of remote and onsite work to perform the regular responsibilities of the role. Actual schedule requirements may vary based upon business needs.

Compensation & Benefits

Base pay: $19.50 - $22.00 (list grade minimum to 60 th percentile.

Old Second is committed to fair and equitable pay practices. Pay is dependent upon the pay range and the incumbent's knowledge, skills and experience.

Benefits: How We Support You - Old Second