Old Second National Bank · 14 hours ago
Loss Mitigation Specialist - Reno
Aurora, IL
Full-time
Hybrid
Entry, Mid Level
$19.50/hr - $22/hr
1+ years expOld Second National Bank has been serving the Chicago area for over 150 years, focusing on community and growth. The Loss Mitigation Specialist is responsible for securing recoveries for the Collections Department, helping to minimize monthly charge-offs by locating and notifying customers of delinquent accounts and negotiating payment arrangements.
BankingFinanceFinancial Services
Responsibilities
Locate and notify customers of delinquent accounts (90 – 120 days) by mail, telephone or email to solicit payment on motorsport loans
Advise customers of necessary actions or strategies for repayment, negotiate payment arrangements and research discrepancies (terms of sales, service, or credit contracts)
Trace delinquent customers to new addresses through research (inquiries to credit bureaus, phone companies, etc.)
Research and analyze overdue accounts prior to initiating skip tracing efforts. Follow up with repossession/skip sources to ensure timely updates on sensitive information
Effectively manage the assigned specialized desk to maximize recoveries
Answer incoming calls. Answer customer questions, take payments and service current accounts
Perform office duties such as filing correspondence, answering emails and creating internal reports
Ensure operational integrity through compliance with all policies, procedures and regulations
Qualification
Required
High school diploma (or equivalent) and one year of related experience (customer service, collections, or related); or equivalent combination of education and experience
Must work a flexible schedule inclusive of weekends and overtime to meet business needs
Excellent oral/written communication, negotiation and active listening skills
Strong attention to detail and accuracy while maintaining work in a fast-paced environment
Knowledge of skip tracing, state/federal collections laws and queue management techniques
Demonstrates adherence to privacy and confidentiality guidelines
Maintains calm and professional demeanor in stressful situations
Proficient in Microsoft Word, Excel and Outlook. General working knowledge of internet-based applications, or Jack Henry SilverLake
Preferred
More than one year of collections experience with a focus in auto or powersport collections
Bi-lingual English and Spanish
Previous experience utilizing Jack Henry SilverLake
Company
Old Second National Bank
Old Second National Bank is a national banking organization that provides commercial, treasury management and retail banking services.
501-1000 employees
Funding
Current Stage
Public CompanyTotal Funding
$60M2021-04-20Debt Financing· $60M
1993-11-26IPO
Leadership Team
Jim Eccher
Chairman and CEO
Joe Gaffigan
President & Co-Founder O2 Sponsor Finance
Recent News
2025-12-16
MarketScreener
2025-12-09
Company data provided by crunchbase