Loss Mitigation Coordinator

JOB DESCRIPTION

We’re looking for a mid-stage collector responsible for contacting guarantors and business owners regarding past-due accounts and negotiating acceptable payment solutions to bring the accounts current. The Specialist is responsible for the daily tasks related to loss mitigation efforts at IOU. The Specialist will effectively communicate and support management's goals while providing high-quality customer service. This position requires the ability to professionally negotiate with a variety of different personalities to collect on debts. Collection efforts are time-sensitive, requiring excellent skills in organizing and managing time, effort, and resources.

RESPONSIBILITIES

• Closely monitor the status of past due accounts. Provide clear and concise documentation of every action taken on an account in the system collection notes.
• Update tracking systems accordingly.
• Daily outbound collection calls, emails, and text messages to delinquent accounts.
• Responsible for bringing past due and delinquent accounts back to a current status.
• Work with customers to coordinate payment modification plans.
• Prepare and present account status reports to management weekly.
• Perform skip tracing to make contact with debtors.
• Follow policy and procedures for the Loss Mitigation department

QUALIFICATIONS

• 4+ years of experience in collections/loss mitigation.
• Experience in collecting past due and delinquent accounts (primarily early to mid-stage defaults).
• Must have excellent oral and written communication skills.
• Effective analytical and problem-solving skills.
• Ability to communicate and deliver creative solutions and reports on time.
• Ability to work with all members of the organization.
• Can work well independently and as part of a team.
• Willing to take on new projects and be cross-functional within the department to assist as needed.
• Preferred Qualifications:
  • Basic understanding of computer technology in a business environment.
  • Effective communication skills, both verbally and in writing, with superiors, colleagues, and individuals inside and outside the company.
  • Working in a fast-paced environment.
  • Experience managing various roles and tasks at a time.
  • Working knowledge of Microsoft Office products.

WHY IOU

• Competitive base salary
• Comprehensive health, dental, and vision benefits
• Company-matched 401(k)
• Support through a Professional Employer Organization (PEO), plus access to an Employee Assistance Program (EAP) for personal well-being.
• Hybrid work schedule with a mix of remote flexibility and 2 days in the office.
• Fun corporate culture- a team that laughs together, works hard together, and genuinely enjoys each other!
• Why You’ll Love This Role:
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ABOUT IOU FINANCIAL

IOU Financial is a leading online lender that provides quick and easy access to growth capital to small businesses. IOU has become a trusted alternative to banks by originating over $1.9 billion in loans to fund small business growth since 2009. IOU was named one of the “Top Places to Work in Fintech for 2025” by American Banker and “Best Places to Work in Georgia for 2026” in Georgia Trend Magazine. For more information, please visit IOU's website at www.ioufinancial.com.