What are the responsibilities and job description for the Loss Mitigation Specialist position at OneMain Financial?
Responsibilities
Full Job Title : Loss Mitigation Specialist Job Number : R2501-44572 Location : West Valley City, Utah Date Posted : 01 / 15 / 2025
As a Loss Mitigation Specialist / Late Stage Collector, you will review accounts for possible loan restructuring or other workout plans through evaluating customer income and expenses. Restructure loans for maximum likelihood of repayment while meeting all policy, government, and regulatory guidelines. Locate customers using skip tracing tools to collect on deficiency balance.
Location : Onsite in West Valley City, UT
Pay : hourly bonus potential
Schedule : Monday through Friday from 9 : 30am-6 : 00pm with a rotating Saturday every 6-8 weeks
Job Duties :
- Reviewing and analyzing consumer accounts to identify how the loan can be modified to mitigate loan loss.
- Answering incoming calls and speaking with customers to work out a mutually beneficial arrangement.
- Preparing written correspondence to be sent to customers to advise of modification opportunity.
- Create and review modification documents to be sent to customers.
- Audit modification documents to ensure all required information has been received and process modification in servicing system.
- Ensure all loan workout plans meet policy guidelines and protect the company for risk.
- Maintain and establish new repossession and transport vendor relationships.
- Assign accounts out for repossession to an approved repossession agent.
- Completes required applicable paperwork including sending all required Federal and State regulation letters.
- Other duties as assigned by the Loss Mitigation Team Lead.
Required experience / education :
Who we Are
OneMain Financial (NYSE : OMF) is the leader in offering nonprime customers responsible access to credit and is dedicated to improving the financial well-being of hardworking Americans. Since 1912, we've looked beyond credit scores to help people get the money they need today and reach their goals for tomorrow. Our growing suite of personal loans, credit cards and other products help people borrow better and work toward a brighter future.
Driven collaborators and innovators, our team thrives on transformative digital thinking, customer-first energy and flexible work arrangements that grow lives, careers and our company. At every level, we're committed to an inclusive culture, career development and impacting the communities where we live and work. Getting people to a better place has made us a better company for over a century. There's never been a better time to shine with OneMain.
OneMain Holdings, Inc. is an Equal Employment Opportunity (EEO) employer. Qualified applicants will receive consideration for employment without regard to age, ancestry, citizenship status, color, creed, culture, disability, ethnicity, gender, gender identity or expression, genetic information or history, marital status, military status, national origin, nationality, pregnancy, race, religion, sex, sexual orientation, socioeconomic status, transgender or on any other basis protected by law.
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