Department Overview
Advance Loan Servicing are responsible for providing support to our members in the personal lending products. They use negotiations skills when making outbound calls to members in order to return delinquent accounts to performing status.
What requirements and technical training is needed to get into this position?
Minimum of 1 year Collections experience, 3rd party collections or sales experience
Loan Servicing/Customer Service/Cold-calling Sales experience a plus
Strong verbal and written communication skills
Ability to stay organized while working on multiple tasks
Excellent Attendance throughout training
What do you do on a day-to-day basis?
Contact clients regarding delinquent accounts
Negotiate payment options to early stage collection accounts
Utilize your strong negotiations skills to bring delinquent accounts back to performing status
Provide exceptional member experience
Exercise discretion and independent judgment
Process requests and account changes
What days/hours does your team work?
Currently Monday through Friday (with Saturday potential)
Shift start as early as 6 AM and end as late as 7 PM
What are the metrics/KPIs used to define success?
Cure rate: % of payments promised that “cure” the account / bring to good standing
Kept rate: % of your promise to pay that “kept” / made the payment
Conversion Rate: The % of your right party contacts that convert to payment
Adherence: Ensuring we are available to assist our members
Dollars Collected: Simply a total of the amount of past due monies you collect
Define the micro-culture of the department and what makes it special/unique?
The ALS team truly embodies our core values and embraces individuality. We love celebrating what makes each person unique! Our focus is on creating a culture that not only gets things done but also supports our team and members in reaching their goals. In ALS, we’re dedicated to helping our members achieve the financial future they deserve while being there for them when they need it the most.
How is the work structure – independent work or more collaboration?
It important to be able to work collaboratively amongst the team - Often how our team members continue to grow and succeed (sharing of best practices)
The majority of your time spent will be independently working to make contact with our members to get them on the path of financial freedom
What does the future in terms of growth opportunity look like for this department?
There are a number of factors that go into growth opportunity within the Advanced Member services team
As many business units: We see growth as we originate higher volume of loans
As the “macro” financial environment impacts our members, the opportunity to collect on delinquent accounts is often impacted
What systems are used in the core roles?
The primary system that a collection agent will operate out of is called “NLS”
We also use Genesys, Google Suite of products, and other systems to assist in helping our members with past due accounts.
Who are the key stakeholders and who is impacted by your work (who’s your client)?
Members: Ensuring they are on path of financial success
Investors: Ensuring that the product they are purchasing is performing at the highest standards
The Business / Bottom Line: Ensuring we are capturing every opportunity to collect on our past due accounts to do our part in achieving profitability