Full-Time

Administration Specialist

Posted on 11/21/2024

OneMain Financial

OneMain Financial

5,001-10,000 employees

Provides personal loans for consumers

Financial Services

Entry, Junior

Fort Mill, SC, USA

Category
Customer Experience
Customer Support
Customer Success & Support
Required Skills
Sales
Customer Service
Requirements
  • High School Diploma or GED
  • Collection experience preferred but will train highly motivated individual with sales experience
  • Strong phone, communication and negotiation skills
  • Ability to work well under pressure and meet goals in a fast-paced environment
  • Quick thinker with creative research skills
  • Proficiency with Internet and basic MS Office applications
  • Ability to maintain confidentiality with sensitive information
Responsibilities
  • Negotiate with authorized third parties and customers via telephone regarding past due accounts
  • Investigating, researching & tracking consumer information - Negotiate payments & settlements on customer accounts
  • Qualifying consumers for payment plans by gathering full and complete information
  • Maintaining compliance with FDCPA and state regulations
  • Monitor delinquent accounts for status updates and follow up with consumers and authorized third parties if needed.
  • Using online tools to research information on accounts
  • Taking inbound calls from customers and third parties regarding the status of an active or inactive account
  • Maintaining account documentation and follow up as necessary
  • Provide outstanding customer service to customers, 3rd parties, and OneMain employees
  • Prioritizing assigned work to align with business and company needs

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

  • Partnership with Pagaya leverages technology for improved customer service and loan processing.
  • AI-driven credit scoring models enhance risk assessment and approval processes for nonprime consumers.
  • Growing interest in financial wellness programs can boost customer engagement and retention.

What critics are saying

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

What makes OneMain Financial unique

  • OneMain specializes in personal loans for nonprime consumers, offering both secured and unsecured options.
  • The company has a robust securitization platform, Springleaf Funding Trust, for capital generation.
  • OneMain's extensive branch network enhances its customer-centric approach and personalized financial solutions.

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