The Company
MPOWER's borderless loans and scholarships enable students from around the world to realize their full academic and career potential by attending top universities in the U.S and Canada.
As a mission-oriented fintech/edtech company, we move extremely quickly and leverage the latest technologies, global best practices, and heavy analytics to tackle one of the biggest challenges in financial inclusion. We're backed by over $150 million in equity capital from top global investors, which enables fast growth and provides our company with financial stability and a clear path to an IPO over the coming years.
Our global team is composed of former management consultants, financial service and technology professionals, and other experts in their respective fields. We work hard, have fun, and believe strongly in our cause. For us, MPOWER's mission is personal.
As a member of our team, you'll be challenged to think quickly, act autonomously, and constantly grow creatively in an environment where fast change and exponential growth are the norm. Ideation and implementation happen very quickly. We value feedback and emphasize personal and professional development by providing the resources you need to further your skills and grow with the company. MPOWER is committed to cultivating your strengths and curiosity and helping you make an immediate impact.
MPOWER has been named one of the best fintechs to work for by American Banker for the past 6 years in a row.. We are honored to be nominated by multiple agencies and publications for our leadership in Tech, diversity and social impact. We pride ourselves on being a growth company for grown-ups, where there are no pool tables but rather great health, education, and maternity/paternity benefits instead. Our team diversity has been recognized as well; we're one of the most diverse workforces in the world in terms of nationality, gender, religion, age, sexual orientation, and educational background.
THIS IS A FULL-TIME POSITION, BASED IN OUR BANGALORE, INDIA OFFICE AND REPORTS DIRECTLY TO SR. RELATIONSHIP MANAGER-LOAN SERVICING
THE ROLE
As a Global Loan Recovery Specialist, You Will Be The First Point Of Contact And The Voice Of The Company In Interactions With Defaulted Borrowers. Your Primary Responsibility Will Be To Recover Defaulted Loans By Finding Effective Resolutions For Loan And Payment-related Concerns While Delivering a Superior Servicing Experience. Your Goal Is To Find Effective And Empathetic Solutions To Loan And Payment-related Challenges, Ensuring a Balanced Approach Between Recovery And Customer Satisfaction. This Includes, But Is Not Limited To
- Initiating outbound phone calls and email correspondence with defaulted borrowers to ensure timely and effective collections and applying problem-solving and negotiation skills to resolve customer and account-related issues successfully
- Evaluating past history of accounts and determining the best next steps for recovery efforts (payment plan, settlement, arbitration, third-party collections, etc)
- Preparing files for legal action or third-party collection activity
- Understanding our product line and explaining loan features, terminology, and payment logistics to borrowers
- Creatively utilizing resources to establish contact with delinquent borrowers, including conducting skip tracing, reference calls, and other research to achieve contact and establish a positive relationship
- Analyzing trends in delinquent accounts and communicating findings to improve overall team performance
The Qualifications
- Bachelor's degree in business, finance, or a related field
- 3+ years of customer-centric experience within a high-touch, fast-paced environment focused on the servicing and repayment of financial products
- Prior collections work experience within financial services/B2C and/or higher education industries is highly advantageous, though a solid understanding of financial services functions is essential
- Knowledge of applicable laws and regulations related to debt collection and recovery is a plus
- Strong interpersonal, communication, and listening skills, with comfort in connecting with customers via phone, email, and chat
- Excellent negotiation skills with a proven ability to apply critical thinking to complex problems for timely and effective resolution
- Ideally possessing a background incorporating investigative research
- Empathetic, collaborative, and highly accountable.
A passion for financial inclusion and access to higher education is a must, as well as comfort working with a global team across multiple time zones and locations!
In addition, you should be comfortable working in a fast growth environment, meaning a small agile team, fast-evolving roles and responsibilities, variable workload, tight deadlines, a high degree of autonomy, and 80-20 everything.
