Loan Workout Associate

Wells Fargo•Sioux Falls, SD

5d•Hybrid

About The Position

Wells Fargo is seeking a Loan Workout Associate for its Specialty Recovery Team in Unsecured Lending Operations. The role supports moderately complex initiatives involving collection portfolio data, reducing delinquency, and restructuring loans. The associate researches credit and account information, reviews workout and restructure plans for problem loans, and researches vendor program remedies and recourse to determine loss projections. The position also reviews lower-complexity collection portfolio and customer issues, applies company policies and collection systems, and identifies opportunities to improve Loan Workout processes. The associate receives direction from a supervisor and exercises judgment within defined parameters while building knowledge of Loan Workout functions, policies, procedures, and compliance requirements. Collaboration with peers, colleagues, and managers is part of the role. 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 site; relocation assistance is not available. The listed schedule is Monday through Friday, 8:00 or 8:30 a.m. to 5:00 p.m., depending on whether the employee takes a 30-minute or one-hour lunch. Training is provided, with the duration to be determined. 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, or education.
Must reside within a reasonable commute of the required Sioux Falls, South Dakota site location.
Must be able to work the stated Monday-through-Friday hybrid schedule.

Nice To Haves

Previous collections experience, including experience 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 work 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

Support 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 lower-complexity collection portfolio or customer issues, processes, policies, and procedures related to deliverables with narrower impact.
Apply knowledge of company policies, procedures, and collection systems.
Adhere to risk ratings and compliance requirements.
Identify opportunities for process improvements in the Loan Workout area.
Exercise judgment within defined parameters while developing understanding of Loan Workout functions, policies, procedures, and compliance requirements.
Collaborate and consult with peers, colleagues, and managers to resolve issues and achieve goals.