Collections Associate- Great Pay, Great Culture!
Technology is transforming the consumer and small business lending markets and this is your chance to have a seat at the forefront of these dynamic markets. In this position, you will be responsible for reviewing the files, processing the loan documents and verifying customer information. We are a fast growing private equity backed company seeking to add a passionate, hardworking professional to join our Loan Operations department. This is an opportunity to work for a company with a high energy, collaborative culture where your opinion matters on all functional areas within the business and to interact with the senior management team.
Fundation is a high growth, private equity backed technology enabled online commercial lender dedicated to enhancing the borrowing process for small business owners across the United States. We are changing the landscape of lending to small and medium sized businesses nationwide through a streamlined, data-driven, digital lending process.
We deliver our credit products through a network of partners, offering the equivalent of a bank loan but through a technology-enabled process that can deliver capital in as little as 2 business days. Our standard product is a fixed rate, 1-4 year fully amortizing term installment loan (similar to a car loan or mortgage) with no prepayment penalties. Because we use our own capital (a balance sheet lender), we employ risk-based pricing to lend to businesses with varying credit profiles and for various purposes – working capital, inventory, capital improvements, equipment purchases, expansion of facilities, acquisitions and ownership related events. We do not sell our loans and we control the servicing throughout the life of the loan.
Our partners include banks and other financial institutions, business brokers, business advisors, vendors of supplies, equipment, and services; online service providers, software providers and professional service firms. In each partnership, we customize our product offering and our delivery model to meet the needs of each unique partner and its customers. Our partnerships range from customized vendor financing programs, discrete transaction/deal assistance, fully integrated lending platforms, and customer cross-sell through coordinated marketing programs.
- Initiate contact with customers to determine positive intent in resolving delinquent balances on commercial loans.
- Follow up with customers to ensure payment arrangements upheld and delinquency resolved.
- Ability to quickly identify customers with negative intent to resolve the delinquency and prepare recommendations for proceeding with litigation
- Collaborate with staff Paralegal to ensure accuracy in reporting of negative balance, interest rates, payoff amounts etc.
- Responsible for preparing weekly reporting relating to delinquency, roll rates, account updates, and resolved accounts.
- Responsible for maintaining clear and concise collection documents, system notes and delinquency payment arrangement details
- Proven working experience in first party/soft collections
- Good knowledge of banking computer software and MS Office
- Comprehension of direct/indirect lending procedures
- In-depth understanding of relevant rules and regulations (FDCPA, FCRA, SCRA etc.)
- Excellent communication and sales skills
- Balance between customer satisfaction orientation and a results driven approach
- BS degree in finance, economics, or a related field
- Our benefits include:
- Competitive compensation package
- Outstanding medical benefits package including health, dental, vision and insurance
- 401K with generous company match and vesting schedule
- Competitive PTO and a unique ½ day with work from home option before major federal holidays such as Memorial Day, Labor Day, Day before Thanksgiving, Christmas Eve and New Year's Eve.
- Opportunity to work with a veteran team of leaders building a great brand
Fundation provides equal employment opportunities (EEO) to all employees and applicants for employment without regard to race, color, religion, sex, national origin, age, disability or genetics. In addition to federal law requirements, Fundation complies with applicable state and local laws governing nondiscrimination in employment in every location in which the company has facilities. This policy applies to all terms and conditions of employment, including recruiting, hiring, placement, promotion, termination, layoff, recall, transfer, leaves of absence, compensation and training.