Full-Time

Collections Specialist

Posted on 10/2/2024

OneMain Financial

OneMain Financial

5,001-10,000 employees

Provides personal loans for consumers

Financial Services

Entry, Junior

Evansville, IN, USA

Candidates are expected to commute to our Evansville, IN campus.

Category
Risk Management
Sales & Trading
Finance & Banking
Required Skills
Sales
Requirements
  • Education - High School diploma OR GED minimum
  • Collections / Call Center experience strongly preferred
  • An in-depth understanding of collections and negotiation skills
  • Strong negotiation skills to resolve escalated calls
  • A high degree of self-management to successfully prioritize workday
  • Excellent communication, persuasion and problem-solving skills
  • Ability to maintain confidentiality and sensitive information
  • Sales experience is desirable
  • Candidates are expected to commute to our Evansville, IN campus
Responsibilities
  • Initiate contact with customers via telephone regarding charge off accounts while arranging repayment and/or settlement of accounts in accordance with all applicable laws, policies, and procedures
  • Negotiate with customers to resolve accounts.
  • Maintain and notate all appropriate information and documentation regarding customer and account status on computer system and provide same to others involved with collections of accounts
  • Investigate, research, and track consumer information using online skip tracing tools
  • Work in a goal-oriented environment to meet production indicators.
  • Operate in a goal-oriented environment, achieving individual and team performance targets and core competencies
  • Maintain compliance with FDCPA (Fair Debt Collection Practices Act) and state regulations

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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