Fifth Third Bank, N.A. Title Collatoral Loss Mit Prospector in
GRAND RAPIDS , Michigan Job Description
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Under direct supervision the Loss Mitigation Prospector
solicits, communicates, educates, negotiates, and provides general
assistance information to title collateral loan customers who are
in need of work out alternatives, and assists them on how to launch
the application process. The Prospector is the front-line contact
to counsel and guide the internal/external customer in workout
alternative options based upon customer circumstances. The workout
alternative options need to comply with all investor, company,
federal and insurer guidelines. The Prospector works in unison with
the Title Loan Collateral Processors and Counselors to minimize
potential losses to the company, and investors in accordance with
departmental and legal guidelines.
Responsible and accountable for risk by openly exchanging ideas
and opinions, elevating concerns, and personally following policies
and procedures as defined. Accountable for always doing the right
thing for customers and colleagues, and ensures that actions and
behaviors drive a positive customer experience. While operating
within the Bank’s risk appetite, achieves results by consistently
identifying, assessing, managing, monitoring, and reporting risks
of all types.
ESSENTIAL DUTIES AND RESPONSIBILITIES:
Responds to incoming phone inquiries; monitors Auto Loss
Mitigation phone line.
Pursues communication with defaulted customers utilizing inbound
and manual dialing to offer potential workout alternatives.
Contacts delinquent customers to obtain payment commitments.
Makes collection/demand calls with an account load defined by
applicable capacity model.
Analyzes customer's situation and collateral risk to present
alternative solutions including, Repayment Plans, Modifications,
Settlements, and Delinquency Deferments.
Assists in identifying, negotiating and pursuing the appropriate
loss mitigation option that best maximizes customer satisfaction
and investor return.
Reviews, negotiates and recommends action on requests for
proposed repossession alternatives within the timeframes
established by management.
Identifies, evaluates and resolves reasons for delinquency.
Explains all workout options within company / investor / insurer
guidelines and knows the requirements of each one.
Quotes reinstatement amounts, payoffs, and sets up repayment
plans within the system.
Pursues resolution on referrals of non-delinquent customers who
request alternatives to allow ownership retention.
Ensures that all required documentation has been requested and
received from the customer.
Record all collection efforts via the collection system.
Recommends additional actions with Management assistance on
Escalates calls and/or problem accounts to supervisor,
repossession, legal or collection agencies as appropriate.
Provides feedback to management for ideas on process improvement
and suggestions for the specialty collections unit.
Complies with the Fifth Third Quality Assurance Desktop
Provides administrative support as directed by management.
Performs other duties as business needs dictate as directed by
MINIMUM KNOWLEDGE, SKILLS AND ABILITIES REQUIRED:
High School Diploma or equivalent required.
Minimum one year customer service or collection experience
Excellence in consulting and advising customers via telephone
and written communication.
Excellent customer service skills with both external and
Excellent communication, comprehension, listening and
Ability to meet deadlines.
Ability to analyze and suggest resolution to problems.
Familiarity with financial statements, tax returns, credit
reports, and other documents used to evaluate a pre-repossession
Basic analytical, problem solving and mathematical skills to be
used in financial counseling and evaluation and interpretation of
Basic understanding of consumer lending and servicing.
Must be able to work in a team environment to interact well with
employees and all levels of the organizations.
Proficient in Microsoft Word, Outlook, Access and Excel with a
minimum level of Intermediate.
LOCATION -- Grand Rapids, Michigan 49546
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engaged and inclusive culture and to promote and ensure equal
employment opportunity in all employment decisions regardless of
race, color, gender, national origin, religion, age, disability,
sexual orientation, gender identity, military status, veteran
status or any other legally protected status.
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