What are the responsibilities and job description for the Loan Workout Specialist position at Wells Fargo?
About this role:
Wells Fargo is seeking a Loan Workout Specialist to join Consumer Credit Solutions (CCS) Collections & Servicing. This position is responsible for managing a large case load of affiant/notary responsibilities. There is also some moderate to complex contested litigation. Works within the legal center of excellence and handles lawsuit strategy, discovery, and affidavit process and may provide witness testimony at trial.
In this role, you will:
Provide support to internal and external customers in complex initiatives relating to collection portfolios data to reduce delinquency and restructuring of loans within the Loan Workout functional area
Evaluate risk and analyze account information including financial statements and total relationship
Coordinate initial loan renewal process and negotiate with borrower or attorneys in order to determine workout solutions
Restructure supervised loans, recover charged off loans and research account equity to determine full or partial charge off or attend foreclosure sale
Conduct research and determine resolution for title and collateral perfection issues
Review and research complex operational challenges that require research, evaluation, and selection of alternatives related to low to medium risk deliverables
Monitor portfolio for policy compliance and adhere to risk rating Identify opportunities for process improvements within scope of responsibilities in Loan Workout area
Present recommendations for resolving complex situations and exercise independent judgment while developing expertise in the functions, policies, procedures and compliance requirements
Coach and assist less experienced colleagues
Provide issue specific training and participate in departmental projects
Collaborate and consult with peers, colleagues and managers to resolve issues and achieve goals
Required Qualifications:
2 years of Loan Workout, Commercial Lending experience, or equivalent demonstrated through one or a combination of the following: work experience, training, military experience, education
Desired Qualifications:
1 year of experience interpreting and researching one or a combination of the following: loan origination, account level documents or legal documents
Experience using Enterprise Collections and Recovery System (ECaR)
Experience with Credit Card products within a Financial service industry
Strong attention to detail, including accuracy in grammar and a sharp focus on eliminating errors
Ability to execute in a fast paced, high demand, environment while balancing multiple priorities and meeting deliverables
Experience with Adobe Acrobat Pro
Ability to work effectively, as well as independently, in a team environment
Excellent verbal, written, and interpersonal communication skills
Ability to execute in a fast paced, high demand, environment while balancing multiple priorities and meeting deliverables
Vendor management experience that includes working with attorney's, agencies, debt settlement companies, judicial system
Ability to read, interpret and comprehend complex legal documents
Job Expectations:
Required to travel up to 10% of the time
This position is not eligible for Visa Sponsorship
This position offers a hybrid work schedule
Location:
800 S Jordan Creek Pkwy - West Des Moines, IA
Required location for this position is listed above. Candidate must reside within a reasonable commute to the site location. Relocation assistance is not available for this position.
Posting End Date:
18 Aug 2024*Job posting may come down early due to volume of applicants.
We Value Diversity
At Wells Fargo, we believe in diversity, equity and inclusion in the workplace; accordingly, we welcome applications for employment from all qualified candidates, regardless of race, color, gender, national origin, religion, age, sexual orientation, gender identity, gender expression, genetic information, individuals with disabilities, pregnancy, marital status, status as a protected veteran or any other status protected by applicable law.
Employees support our focus on building strong customer relationships balanced with a strong risk mitigating and compliance-driven culture which firmly establishes those disciplines as critical to the success of our customers and company. They are accountable for execution of all applicable risk programs (Credit, Market, Financial Crimes, Operational, Regulatory Compliance), which includes effectively following and adhering to applicable Wells Fargo policies and procedures, appropriately fulfilling risk and compliance obligations, timely and effective escalation and remediation of issues, and making sound risk decisions. There is emphasis on proactive monitoring, governance, risk identification and escalation, as well as making sound risk decisions commensurate with the business unit’s risk appetite and all risk and compliance program requirements.
Candidates applying to job openings posted in US: All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, status as a protected veteran, or any other legally protected characteristic.
Candidates applying to job openings posted in Canada: Applications for employment are encouraged from all qualified candidates, including women, persons with disabilities, aboriginal peoples and visible minorities. Accommodation for applicants with disabilities is available upon request in connection with the recruitment process.
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To request a medical accommodation during the application or interview process, visit Disability Inclusion at Wells Fargo.
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Wells Fargo maintains a drug free workplace. Please see our Drug and Alcohol Policy to learn more.
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