Full-Time

Consumer Loan Sales Specialist

Posted on 9/10/2024

OneMain Financial

OneMain Financial

5,001-10,000 employees

Provides personal loans for consumers

Financial Services

Entry, Junior

Clarksville, TN, USA

Category
Customer Success Management
Inside Sales
Sales & Account Management
Required Skills
Sales
Responsibilities
  • Greeting, assisting and soliciting individuals entering the office and calling by phone; receiving and processing credit and employment verifications, and recording information obtained; processing payments, distributions, and insurance products at the direction of a licensed agent; handling account activities related to collection accounts, including phone calls and face to face communications with customers.
  • Preparing reports, correspondences, transaction documentation, and recording and filing documentation; operates cash drawer, processes bank deposits, maintains records and balances.
  • Actively markets and sells all branch products and services to individuals and merchants. Merchant and bank visits required.
  • Perform all other duties as assigned by management.

OneMain Financial provides personal loans to individuals, particularly those who may not qualify for traditional banking services due to lower credit scores or financial challenges. The company offers both secured loans, which require collateral like a car or home, and unsecured loans that do not. This variety allows customers to address different financial needs, such as debt consolidation or home improvements. OneMain generates revenue through interest and fees on these loans and has a securitization platform called Springleaf Funding Trust, which enables it to bundle and sell loans as securities to investors. This process helps OneMain maintain a steady flow of capital for lending. Additionally, the company offers other financial products, including insurance and credit information, to better serve its customers. OneMain's goal is to provide accessible financial solutions tailored to the needs of its clients, supported by a strong branch network and online resources.

Company Stage

IPO

Total Funding

N/A

Headquarters

Baltimore, Maryland

Founded

1912

Growth & Insights
Headcount

6 month growth

4%

1 year growth

0%

2 year growth

4%
Simplify Jobs

Simplify's Take

What believers are saying

  • AI-driven credit scoring models can improve creditworthiness assessment and reduce defaults.
  • Digital lending platforms offer expansion opportunities to reach tech-savvy younger consumers.
  • Partnership with Pagaya enhances risk assessment and loan personalization through AI algorithms.

What critics are saying

  • Increased competition from fintechs offering lower rates could erode market share.
  • Rising interest rates may lead to higher default rates among lower credit score customers.
  • Class action lawsuit over Military Lending Act violations could incur legal costs and reputational damage.

What makes OneMain Financial unique

  • OneMain offers both secured and unsecured loans, catering to diverse financial needs.
  • The Springleaf Funding Trust securitization platform provides a steady capital stream.
  • Extensive branch network enhances customer-centric service and personalized financial solutions.

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