Default Specialist I at Fifth Third Bank

Cincinnati, Ohio, United States

Apply Now

Not SpecifiedCompensation

Entry Level & New GradExperience Level

Full TimeJob Type

UnknownVisa

Banking, Financial Services, MortgageIndustries

Requirements

High school diploma or equivalent
Minimum two years general office, accounts receivable/payable, or equivalent education/experience
Excellent oral and written communication skills
Strong attention to detail
Solid mathematical skills
Good knowledge of PCs, Microsoft Office Products including Outlook, Excel, Word, and internet functions
Systems experience with New Invoice or Vendorscape a plus
Annual Compliance and Regulatory Certifications as required by Fifth Third Bank
Professional maturity and ability to work in a team environment while maintaining confidentiality

Responsibilities

Reviews incoming invoices from multiple vendors for different lines of business to ensure billed items were accurately assessed
Verifies work completed on incoming invoices and processes invoices for payment
Monitors Mortgage and Consumer billing inboxes
Gains approval for any fee request over Investor or Bank allowable limits
Reviews and processes incoming checks or wires through the Default Lockbox
Monitors funds within Default unapplied buckets
Reviews Charge Off Reports and processes Charge Offs if appropriate
Decisions and processes incoming invoices by approving for payment or denying payment
Posts funds to Default accounts as needed
Creates and maintains reports as needed and distributes them to management or third party vendors when required
Performs other duties as assigned
Follows Investor, departmental, and legal guidelines
Utilizes multiple systems
Handles confidential or restricted information while maintaining confidentiality
Openly exchanges ideas and opinions, elevates concerns, and follows policies and procedures
Does the right thing for customers and colleagues to drive a positive customer experience
Identifies, assesses, manages, monitors, and reports risks of all types within the Bank’s risk appetite

Skills

Invoice Processing

Vendor Management

Billing Approval

Funds Posting

Charge Off Processing

Lockbox Processing

Report Creation

Mortgage Servicing

Consumer Billing

Risk Management

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.

Land your dream remote job 3x faster with AI

Try Jobo Free