FirstFed Financial Corp.
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Portfolio Servicing Specialist - EF & SBS
at FirstFed Financial Corp.
- Job ID
- # Positions
- Job Family
- Operations - Collections
Founded in 1908, CIT (NYSE: CIT) is a leading national bank empowering businesses and personal savers with the financial agility to navigate their goals. We believe in helping customers turn their ideas into outcomes. Whether those customers are building a business or building their savings, CIT has the experience and agility to empower them to achieve their goals. At CIT, how we do business is just as important as what we do. Our social responsibility programs focus on driving financial and personal empowerment, supporting the environment and advancing wellness. CIT contributes to communities where we live, work and do business through charitable donations, community investments and employee volunteerism.
The Portfolio Servicing Specialist is responsible for resolving and managing the Customer or Vendor’s servicing and delinquency opportunities for our Equipment Finance (EF) and Small Business Solutions (SBS) business segments.
- Performs day-to-day activities that ensure effective account management of collections, End of Lease and Premier servicing accounts
- Communicates via phone conversations, email, fax and letters with customers concerning status of invoice payments
- Interfaces with Sales, Operations and Finance departments to resolve billing, collection and credit issues
- Establishes strong working relationships with field team to support collections efforts
- Works with customers in a proactive manner to resolve discrepancies
- Performs reconciliations and quality audits for accounts to maintain accuracy
- Liaison with Cash Operations to research and reconcile misapplied payments or payment issues.
- Resolves all overdue account balances, unassigned cash and payment discrepancies through research, communication and follow up with clients or field operations
- Manages End of Lease terms, documents LOI's and negotiates buyouts and loan purchases
- Facilitates the sale or renewal of assets on contracts at or beyond the initial lease term through negotiation tactics and creative alternatives to lease termination
- Have a firm understanding of the terms and conditions of the lease documents for the assigned vendor programs specifically related to the customer’s end of lease options, and ability to accurately convey to customer, vendor or CIT sales reps
- College degree preferred or equivalent work experience
- 2-4 years of financial services experience (bank, leasing, mortgage, or sales)
- Have a basic understanding of the determination of current Fair Market Value
- Strong computer skills including MS Word, Excel, Access, Outlook and PowerPoint
- Strong interpersonal, written, and verbal communication skills
- Function well independently and in a team orientated environment
- Comfortable forming strong and lasting relationships with clients over the phone
- Prioritize work and quickly evaluate a situation to find the best solution for client and CIT