Customer Solutions Advocate at Fifth Third Bank

Grand Rapids, Michigan, United States

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Not SpecifiedCompensation

Junior (1 to 2 years)Experience Level

Full TimeJob Type

UnknownVisa

Banking, FinanceIndustries

Requirements

High school diploma or equivalent
Minimum one-year customer service or collection experience
Strong oral and written communication skills
Attention to detail
Basic mathematical and analytical skills
Strong computer aptitude

Responsibilities

Pursue communication with defaulted customers using manual or automated dialing to obtain payment commitments and resolve delinquency
Monitor delinquent loans to identify alternatives to repossessions, bankruptcies, etc. (e.g., loan modifications, deferments/re-ages) to reduce losses
Identify, evaluate, and resolve reasons for delinquency
Record all collection efforts in the collection system, ensuring accurate noting of accounts
Conduct research, including ordering payment copies, credit bureau reports, statements, and credit applications to support collection efforts
Utilize cross-selling of alternative loan products to reduce losses and promote continued business when applicable
Access statements, applications, and third-party vendor services to locate or perfect customer contact and make strategic actionable decisions
Stay in compliance with Fifth Third Quality Assurance Desktop Procedure guidelines
Escalate calls and/or problem accounts to supervisor, repossession, legal, or collection agencies as appropriate
Review daily reports to identify job performance month-to-date and task completion
Ensure completion of all projects and/or additional assignments as directed by management
Perform other duties as business needs dictate

Skills

Collections

Delinquent Accounts

Manual Dialing

Automated Dialing

Loan Modifications

Deferments

Credit Bureau Reports

Collection Systems

Risk Management

Customer Communication

Cross-Selling

Fifth Third Bank

Provides banking, loans, and wealth management services

About Fifth Third Bank

Fifth Third Bank offers a variety of financial services, including personal and business banking, loans, mortgages, credit lines, and insurance products. Their services cater to individual consumers, small businesses, and commercial clients, providing comprehensive solutions for managing finances. The bank generates revenue through interest on loans, service fees, and commissions from insurance and investment products. Unlike many competitors, Fifth Third Bank emphasizes community engagement and financial education, providing resources to help clients improve their financial literacy. The goal of Fifth Third Bank is to support clients in achieving their financial objectives while fostering a strong connection with the communities they serve.

Cincinnati, OhioHeadquarters

1858Year Founded

IPOCompany Stage

Social Impact, Financial ServicesIndustries

10,001+Employees

Benefits

Health Insurance

Paid Sick Leave

Paid Holidays

Performance Bonus

Flexible Work Hours

Risks

Rising interest rates may decrease demand for loans and mortgages.

Competition from fintechs like Robinhood threatens Fifth Third's wealth management sector.

Sophisticated cybersecurity threats pose risks to customer data and trust.

Differentiation

Fifth Third Bank offers comprehensive financial solutions for individuals and businesses.

The bank emphasizes community engagement and financial education for client empowerment.

It provides a wide range of insurance products, including life, health, and disability.

Upsides

Increased demand for digital banking boosts Fifth Third Bank's online service offerings.

Partnerships with fintech enhance technological capabilities and customer experience.

Growing interest in sustainable finance attracts environmentally conscious customers.

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