Title: Business Default Specialist
Location: Pensacola, FL (HYBRID)
Duration: Initial 6 month contract duration, with potential extensions
Work Requirements: US Citizen, GC Holders or Authorized to Work in the U.S.
 
Business Default Specialist
To review, control and collect on defaulted small business products to include loans, credit cards, business lines of credit and deposit accounts. Identify, investigate and determine appropriate steps to mitigate losses and protect ***'s assets. Serve as subject matter expert regarding section functions, systems, policies and/or procedures. Work is performed under moderate supervision.

Job Responsibilities:

• Analyze accounts for potential abuse and/or fraud to determine if litigation is warranted to protect ***'s interest and reduce financial loss
• Monitor attorneys assigned accounts to determine status of litigation; advise attorneys of any legal issues and their potential impact ***
• Initiate contact with responsible parties to make equitable repayment arrangements and provides financial counseling and recommendations concerning business and personal finances
• Initiate account adjustments within authorized monetary limits, including payment reverts, fee waivers, NSF, mobile deposits, and monthly service fees
• Initiate and assist with the disposal of collateral including commercial and residential property on short sale
• Research and compile member and account information, collection notations, correspondence, archived documents, and other pertinent documents required by the O and/or outside counsel for use in litigation
• Research member assets and accounts to evaluate recoverability for projected litigation efforts to determine if legal action would be cost effective
• Monitor, identify, analyze, investigate and resolve misrepresentation activity on overdrawn savings and checking accounts
• Detect and control potential losses resulting from unauthorized and improper handling of accounts, including loan fraud and returned deposits
• Review loan files and utilize resources to ensure liens, Uniform Commercial Code filings, and Deeds of Trust are properly filed
• Review high balance accounts including Small Business Administration loans to ensure appropriate transactions and steps are taken in the event of default to ensure optimum return on guarantee
• Obtain and review financial information to determine modification, forbearance, reduced interest or settlement eligibility
• Review collateralized loan accounts to assess repossession possibilities, recommend and initiate repossessions; monitor and communicate outcome to legal counsel if warranted, for judgement on deficiency balance and pursuit of additional assets
• Identify and review bankruptcy filings in PACER to determine status of the business and its products; serve as liaison to the Bankruptcy Section regarding appropriate course of action against guarantor
• Respond to complex, technical, and/or urgent inquiries from Branch Offices, Business Services, Security, Contact Center and Consumer Collections concerning eligibility, compliance, collection related issues, and policies and procedures
• Respond to inquiries concerning suspicious account activities and opening of business accounts; determine if a Suspicious Activity Report should be filed
• Maintain knowledge of and ensure compliance with applicable federal and state laws, rules, regulations and *** policies and procedures
• Collaborate with Survivorship and Business Services on Decedent Account cases determining the disposition of the collateral and facilitating the payment or recovery of assets
• Identify fraudulent and abusive activity unique to businesses; provide documentation and guidance to Security and Business Services related to the business and corresponding personal accounts; suspend accounts as necessary
• Utilize State resources (e.g. Secretary of State, State Corporation Commission, State Licensing Systems, etc.) to ensure business entities and its principles are compliant and in good standing
• Review, develop and/or update policies and procedures related to the collection of Small Business products
• Perform other duties as assigned

Job Qualifications

• Working knowledge of applicable federal and state laws, rules and regulations
• Familiarity with software systems (e.g., Excel, Monarch, Cognos, OnDemand, Pacer, Baker Hill, etc.)
• Working knowledge of the business underwriting process and business accounting principles
• Experience in financial transaction/processing related responsibilities
• Working knowledge of collection principles and practices
• Experience working with all levels of staff, management, stakeholders, vendors
• Ability to comprehend, analyze, interpret, communicate and apply government and financial industry regulations, related principles and practices, and company instructions, procedures, and policies
• Ability to work accurately with numbers and perform mathematical calculations
• Ability to work independently and in a collaborative environment
• Familiarity with the systems and software used by the Collections Division
• Familiarity with *** functions, philosophy, operations and organizational objectives
• Familiarity with *** products, services, processes, policies and procedures
• Effective skill defining business entity types and structures, including an understanding of the various loan documents and their verbiage used for multiple business lending products
• Effective skill interacting tactfully and effectively in difficult situations
• Effective member/customer service skills
• Effective skill building effective relationships through rapport, trust, diplomacy and tact
• Effective research, analytical, and problem-solving skills
• Effective skill assimilating information, analyzing facts, and developing logical conclusions
• Effective skill exercising initiative and using good judgment to make sound decisions
• Effective organizational, time management, and problem-solving skills
• Effective skill to influence, negotiate and persuade to reach agreeable exchange and positive outcomes
• Effective interpersonal, verbal and written communications skills
• Effective database, word processing, and spreadsheet software skills
• Desired – College level courses with a concentration in Accounting, Finance, Business Administration, or related field

Our benefits package includes: 

• Comprehensive medical benefits
• Competitive pay
• 401(k) retirement plan
• …and much more!

 
About INSPYR Solutions
Technology is our focus and quality is our commitment. As a national expert in delivering flexible technology and talent solutions, we strategically align industry and technical expertise with our clients’ business objectives and cultural needs. Our solutions are tailored to each client and include a wide variety of professional services, project, and talent solutions. By always striving for excellence and focusing on the human aspect of our business, we work seamlessly with our talent and clients to match the right solutions to the right opportunities. Learn more about us at inspyrsolutions.com.
 
INSPYR Solutions provides Equal Employment Opportunities (EEO) to all employees and applicants for employment without regard to race, color, religion, sex, national origin, age, disability, or genetics. In addition to federal law requirements, INSPYR Solutions complies with applicable state and local laws governing nondiscrimination in employment in every location in which the company has facilities.

Information collected and processed through your application with INSPYR Solutions (including any job applications you choose to submit) is subject to INSPYR Solutions’ Privacy Policy and INSPYR Solutions’ AI and Automated Employment Decision Tool Policy: https://www.inspyrsolutions.com/policies/. By submitting an application, you are consenting to being contacted by INSPYR Solutions through phone, email, or text.

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