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Collections Representative

Sallie Mae Inc Indianapolis Full-Time
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Sallie Mae is proud to help Americans aspiring to create the life they want—whether that means helping them make college happen, or something more. Our colleagues across departments and across the country are united in our passion and our customer-first approach. Whether you want to join a growing company, be part of an agile workforce, or gain new skills—you’re in the right place.

Position Summary:

The collector is responsible for performing collection activities in an effort to recover losses from assigned accounts. Collector will locate and communicate with debtors via the telephone and written notices in order to obtain repayment in full or to establish acceptable payment arrangements. Additionally, collector will resolve issues of a non-routine nature as necessary as well as perform skip tracing and contract observance functions to ensure compliance of all company, client, and federal and state regulations.

Sallie Mae's benefits include:

  • Medical, dental, and vision insurance
  • Paid time off plus company paid holidays
  • 401(k) plan plus company match
  • Promotional opportunities
  • Tuition reimbursement
  • On-site cafeteria and fitness center
  • Eligibility for most benefits begins within first 30 days of employment
  • Paid parental leave

Job Responsibilities:

Communicate with debtors in regards to the repayment of their delinquent debt

  • Achieve assigned goals (fee, postdate, liquidation, and/or consolidation apps taken -- specified by line of business).

  • Make required number of phone calls daily as determined by management.

  • Profile debtors and obtain financial information. Update demographic and financial information on each call.

  • Negotiate the best possible arrangements.

  • Proficiency with company telephone system while placing outbound calls and accepting inbound calls.

  • Refer accounts for legal or administrative wage garnishment processes if applicable as dictated by department and/or client requirements.

    Perform skip tracing to locate debtors

  • Use skip-tracing tools to locate the debtor in the most efficient manner.

  • Locate required number of skip accounts as determined by management.

  • Effectively communicate with third parties to obtain location information.

  • Profile accounts that are determined unlocatable or exhausted.

    Ensure all accounts are worked within client standards and Federal Regulations

  • Maintain specified file of accounts per client standards.

  • Work within FDCPA, state regulations, department/division & DMO Compliance Policies.

  • Maintain clear, concise and accurate documentation of all attempts and/or contacts made and received for accounts in accordance with company and client specifications.

    Maintain continuing education, training in industry career development

  • Maintain current knowledge of and comply with all federal and state rules and regulations governing collections including FDCPA, Privacy Act, FCRA, etc.

  • Attend training sessions as directed by management.

  • Integrate information obtained through training sessions and policy changes immediately into daily routine.

    Other duties assigned by management

Education:

  • High school Diploma or equivalent.

    Experience:

  • Minimum of six months of progressive work experience preferred.

  • PC experience in a windows environment.

  • Basic keyboarding skills.

  • Must be able to obtain required License for collecting.

  • Previous sales or customer service experience.

    Knowledge, Skills and Abilities:

  • Effective written and verbal communication skills.

  • Strong listening skills, ability to follow written and/or verbal instructions.

  • Good mathematical skills including calculator skills.

  • Goal Oriented, and seeks to consistently meet aggressive daily, weekly, and monthly production and quality goals.

  • Strong organizational skills and the ability to meet tight deadlines.

  • Negotiation, counseling and problem solving skill.

  • Reliable, ability to work flexible day, evenings and weekend hours as required.

  • Ability to learn company collections computer system and phone system.

  • Persistent, ability to overcome objections, ability to remove barriers.

  • Team player.

    Hours:

  • 2 days 8am-5pm

  • 2 days 12pm-9pm

  • 1 Friday a month 12-9pm(every other Friday will be 8-5pm)

  • every other Saturday 8am-12pm

  • overtime highly encouraged

Recommended skills

Skiptrace
Collections
Fair Debt Collection Practices Act
Fair Credit Reporting Act
Perseverance
Active Listening

Location

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Collections Representative
Estimated Salary: $69K
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Sallie Mae has undergone significant transformations since its creation as a government-sponsored enterprise. Four decades of innovation and change have made Sallie Mae the leading financial services company specializing in education.

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