Loan Workout Associate

Wells Fargo Bank • Sioux Falls, SD

3d • Hybrid

About The Position

Wells Fargo is seeking a Loan Workout Associate for its Specialty Recovery Team in Unsecured Lending Operations (ULO). The role supports internal and external customers in moderately complex initiatives involving collection portfolio data, delinquency reduction, and loan restructuring. The associate researches credit and account information, reviews workout and restructure problem loans and payment plans, and researches vendor program remedies and recourse to determine loss projections. The role also reviews low-complexity collection portfolio or customer issues, processes, policies, and procedures, applying company policies, procedures, and collection systems while adhering to risk ratings and compliance requirements.

The associate receives direction from a supervisor and exercises judgment within defined parameters while developing an understanding of Loan Workout functions, policies, procedures, and compliance requirements. The role collaborates with peers, colleagues, and managers to resolve issues and achieve goals. Training is provided, with the duration to be determined.

This position offers a hybrid work schedule at 3201 N 4th Ave, Sioux Falls, SD 57104. Candidates must reside within a reasonable commute of the required location. The schedule is Monday through Friday, with an 8:00 or 8:30 a.m. start and a 5:00 p.m. end time, depending on whether the lunch break is 30 minutes or one hour. Relocation assistance is not available, and the position is not eligible for visa sponsorship.

Requirements

• At least 6 months of Loan Workout or Commercial Lending experience, or equivalent demonstrated through work experience, training, military experience, education, or a combination of these.

Nice To Haves

• Previous collections experience, including working with Power of Attorney and/or Letters of Authorization.
• Experience in a call center environment in the financial services industry.
• Direct customer service and/or vendor management experience, including working with debt settlement companies and/or attorney firms.
• Experience using Enterprise Collections and Recovery System (ECAR).
• Technical skills in First Data Resource (FDR), Hogan/SHAW, OTIS, IRRIS, POPS, and/or ICMP.

Responsibilities

• Provide support to internal and external customers in moderately complex initiatives involving collection portfolio data, delinquency reduction, and loan restructuring.
• Research credit or account information.
• Review workout and restructure problem loans and payment plans.
• Research vendor program remedies and recourse to determine loss projections.
• Review low-complexity collection portfolio or customer issues, processes, policies, and procedures related to deliverables with narrower impact.
• Apply company policies, procedures, and collection systems.
• Adhere to risk ratings and compliance requirements.
• Identify opportunities for process improvements in the Loan Workout area.
• Collaborate with peers, colleagues, and managers to resolve issues and achieve goals.

What This Job Offers

• Job Type: Full-time
• Career Level: Entry Level
• Education Level: No Education Listed