Quality Control Support Specialist at Fifth Third Bank

Cincinnati, Ohio, United States

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Not SpecifiedCompensation

Junior (1 to 2 years)Experience Level

Full TimeJob Type

UnknownVisa

Banking, Financial ServicesIndustries

Requirements

High School Diploma or equivalent
Minimum two years of collection or related customer service experience
Ability to understand loss mitigation workout options within Bank, Investor and Insurer guidelines and adhere to the requirements of each one
Excellent communication, comprehension, listening, organization and follow-up skills
General knowledge of Bank, Investor and Insurer Servicing guidelines
Strong analytical and problem solving skills necessary for the evaluation, interpretation and utilization of policies, procedures and guidelines
Familiarity with financial statements, credit reports, appraisals, titles and other documents used to structure a loss mitigation workout
Exceptional attention to detail
Ability to work independently as well as in a team environment to meet deadlines
Experience and knowledge in Microsoft Word and Excel

Responsibilities

Examine loss mitigation accounts to ensure loans are resolved within mandatory time allowances according to Bank and Investor Servicing guidelines
Allocate customer funds received, but not applied, on active and previously active loss mitigation accounts
Assist with preparing for and providing remediation responses to departmental, internal and external audits
Ensure accounts efficiently move through the loss mitigation process, utilizing reports, spreadsheets, records and research
Independently identify, evaluate and determine corrective actions required on active, previously active and complete loss mitigation loan files
Monitor receipt and disbursement of customer funds to assure compliance with Bank, Federal and Investor guidelines on all loss mitigation accounts
Maintain up-to-date knowledge of existing and emerging compliance, regulatory, Bank and Investor Servicing requirements
Respond to loss mitigation management in connection with general and specific loan level items as they relate to unapplied funds and timely system maintenance
Interact with senior-level Quality Control Analysts to further develop auditing and investigation skills and overall mortgage servicing knowledge
Assist with conducting audits of completed loss mitigation workout files
Provide feedback to management with ideas on process improvements and suggest enhancements and/or changes needed to current policies and procedures
Participate in the development and implementation of new and/or revisions to policies and procedures

Skills

loss mitigation

quality control

loan servicing

forbearance plans

loan modifications

short sales

deed in lieu of foreclosure

audit remediation

fund allocation

compliance

spreadsheets

reports

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.

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