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Full-Time

Verification Specialist

App

Confirmed live in the last 24 hours

OneMain Financial

OneMain Financial

5,001-10,000 employees

Provides personal loans for consumers

Financial Services

Entry, Junior

Tempe, AZ, USA

Category
Risk Management
Finance & Banking
Requirements
  • High School Diploma or GED.
  • 1+ year of prior experience in verification processing and / or fulfillment.
  • Strong communication skills (oral, written, and interpersonal).
Responsibilities
  • Acquire and maintain thorough knowledge and understanding of OneMain’s policies and procedures, state and federal laws and verification workflow
  • Ensure loan stipulations are distributed appropriately to ensure that cycle time meets or exceeds customer expectations and individual process and service level standards
  • Verification activities may include validating identity, address, and social security number; employment, auto insurance, automobile value, lien and title verification; analyzing proof of income and disposable income; fulfilling loan requests, perfecting liens and reviewing loan documents for accuracy and completeness.
  • Provide escalation support on complex issues that may occur to ensure timely and accurate processing of loan stipulations
  • Identify anomalies or complex issues and decisively escalate to provide a timely and seamless transition within the process
  • Identify, investigate and/or escalate potential fraud risks
  • Act as a liaison between multiple internal and external customers and/or vendors. This will include written and verbal communication with OneMain team members
  • Identify process improvement opportunities to increase efficient and effective loan stipulation verification
  • Identify process related risks and offer suggestions on potential controls to mitigate risks

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 OneMain to meet diverse financial needs, such as debt consolidation and home improvements. Revenue is generated through interest and fees on loans, and the company also utilizes a securitization platform called Springleaf Funding Trust to bundle and sell loans as securities, ensuring a steady flow of capital for further lending. OneMain distinguishes itself by focusing on customer-centric solutions, offering personalized financial support through its extensive branch network and online resources. The goal of OneMain Financial is to provide accessible financial solutions to clients across the U.S.

Company Stage

IPO

Total Funding

N/A

Headquarters

Baltimore, Maryland

Founded

N/A

Growth & Insights
Headcount

6 month growth

4%

1 year growth

0%

2 year growth

4%
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Simplify's Take

What believers are saying

  • OneMain's acquisition of Foursight Capital expands its reach into the auto lending market, diversifying its portfolio and growth opportunities.
  • The company's Build: Credit Fundamentals education program demonstrates a commitment to financial literacy, potentially fostering long-term customer loyalty.
  • Significant investments from firms like Adage Capital Partners and Benjamin F. Edwards & Company indicate strong market confidence in OneMain's business model and growth prospects.

What critics are saying

  • Facing a class action lawsuit over alleged Military Lending Act violations could damage OneMain's reputation and financial standing.
  • The competitive consumer lending market requires continuous innovation and adaptation to maintain market share.

What makes OneMain Financial unique

  • OneMain Financial specializes in serving nonprime consumers who often lack access to traditional banking services, setting it apart from many competitors.
  • The company's securitization platform, Springleaf Funding Trust, provides a unique method of capital generation through bundling and selling loans as securities.
  • OneMain's extensive branch network across 44 states enhances its customer-centric approach, offering personalized financial solutions both online and offline.

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