Full-Time

Senior Regulatory and Advocate Complaint Specialist

Posted on 11/12/2024

OneMain Financial

OneMain Financial

5,001-10,000 employees

Provides personal loans for consumers

Financial Services

Mid, Senior

Evansville, IN, USA

Hybrid schedule indicates a requirement for in-office presence.

Category
Legal
Risk & Compliance
Legal & Compliance
Requirements
  • Associate Degree in Business or legal writing or equivalent experience
  • Must be able to effectively multi-task and manage workflow and business priorities.
  • Must be a clear and precise thinker with the ability to effectively communicate at different levels of understanding. Must have professional and calm demeanor with ability to tactfully deal with and work through difficult situations independently.
  • 1-4 years of experience in technical/legal correspondence
  • 1-4 years of financial service and/or paralegal experience
  • Strong written communication skills
Responsibilities
  • Review regulatory and advocate inquiries and complaints to identify and determine the specific nature of allegations, concerns, inquiries and requests requiring response.
  • Coordinate with appropriate business operations and/or functions to research and collect information necessary to respond to inquiries and complaints.
  • Formulate communications that fully address all expressed allegations, concerns, inquiries and requests, balancing customer care and satisfaction with business objectives.
  • Coordinate responses with Law Department attorneys to express appropriate legal arguments.
  • Act as a liaison with the Law Department and Executive Office of Customer Care staff.
  • Appropriately track the investigation and development of all communications and maintains documentation.
  • Communicate with regulators, attorneys, and advocates concerning communications.
  • Promote compliance with OneMain policy/procedures and other applicable 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

  • Growing demand for digital lending platforms aligns with OneMain's customer-centric approach.
  • AI-driven credit scoring models can improve OneMain's risk assessment and loan approvals.
  • Partnerships with fintechs can enhance OneMain's customer service and operational efficiency.

What critics are saying

  • Increased competition from fintechs may erode OneMain's market share.
  • Class action lawsuit over Military Lending Act violations poses legal and reputational risks.
  • Recent executive share sales might indicate concerns about OneMain's future performance.

What makes OneMain Financial unique

  • OneMain specializes in personal loans for individuals with lower credit scores.
  • The company offers both secured and unsecured loans, providing flexibility to customers.
  • OneMain's securitization platform, Springleaf Funding Trust, enhances its capital funding capabilities.

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