Servicing Operations Specialist, Monetary

Octane is unlocking the power of financial products for merchants and consumers. Our cutting-edge technology and innovative financial products empower businesses with more control and flexibility, enabling them to deliver seamless digital experiences, drive customer loyalty, and build long-term value.

Octane supports merchants throughout the sales cycle: connecting dealerships with high-intent buyers, driving transparent, fast, and easy closings with award-winning technology, and providing on-going customer care with superior loan servicing.

Founded in 2014, Octane supports over 60 OEM partner brands and over 4,000 dealer partners, and has a team of over 600. Visit www.octane.co.

This is a servicing-focused opportunity that is essential in the successful facilitation and execution of daily monetary operations. The ideal candidate has outstanding attention to detail, with exceptional research skills, and the ability to handle multiple tasks simultaneously. In this role you will collaborate with colleagues, liaise with other departments, and work closely with your team towards a common goal.

Responsibilities

• Process loan payoffs, settlement applications, and ancillary product refunds.
• Perform general payment processing.
• Successful execution and handling of various checks and documentation received on site.
• Work with payment processing vendor in handling a wide variety of payment types.
• Review, set up, and generally coordinate title/lien releases.
• Initiate refund issuance within a wide variety of loan statuses.
• Identify, relay information, and review loan flat cancellations, or net trades/contract proceeds.
• Processing ancillary product refunds including advance and escrow transactions.
• Assist with bank deposits for both customer and non customer payments.
• Reconciliation of payment applications/files.
• Complete account maintenance of loans including debits and credits.
• Review account payments for accuracy, identification of potential discrepancies, and escalate as needed.
• Handling of incoming mail, including payments and other documents.
• Facilitate and tangibly contribute to successful payment processing and deposit operations.
• Reviewing loan documentation and application information within a loan contract, BOS, or other available contracting documentation.
• Ability to master the navigation of multiple internal systems and platforms to investigate and identify relevant payment processing information.
• Reviewing return payments or payment reversals/corrections while providing necessary account maintenance and documentation.
• Process high-volume requests from multiple departments and responding to inquiries.
• Payment corrections such as fee modifications, payment allocations, recovery application, interest corrections, and payment edits.
• Assist with customer information corrections such as addresses, collateral information, and other various functions as needed.
• Documentation analysis and review.
• Occasional phone calls to dealers, banks, and other partners may be needed as applicable.
• Comply with all federal and state-specific laws and regulations.
  
  
  

Qualifications

• 1-5 years of experience in a payment processing, accounting, or lending oriented role required, or college equivalent experience.
• Experience and understanding of deposit operations and accounting functions including Lockbox is required.
• Experience in consumer, secured, and/or retail installment loans is strongly preferred.
• Autonomous proficiency in monetary focused processes, to a level requiring minimal intervention, is required.
• Experience in workflow facilitation and completing assigned workloads/queues.
• Associate’s/Bachelor’s Degree preferred.
  
  
  

Preferred Skills

• Proficient in Microsoft Office Suite (Word and Excel) and or Google Workspace i.e., G-Suite (Docs & Sheets).
• Experience with DocuSign, internal LOS, LoanPro, and RightSignature required.
• Mastery of web-based loan servicing systems of record.
• Experience with payment reconciliations.
• Familiarity in trends/data reviews.
• Exceptional accuracy and attention to detail are a must.
  
  
  

Benefits

• Robust Health Care Plans (Medical, Dental & Vision)
• Up to 20 Days PTO (Accrued)
• Generous Parental Leave
• Retirement Plan (401k with Company Match).
• Educational Assistance/Tuition Reimbursement up to $3K/year
• Powersports Safety Benefit
• Wellhub (Gympass) Wellness Benefit
  
  
  

Disclaimer: The above statements are intended to describe the general nature and level of work being performed by associates assigned to this classification. They are not to be construed as an exhaustive list of all responsibilities, duties, and skills required of personnel so classified. All personnel may be required to perform duties outside of their normal responsibilities from time to time, as needed.

Octane Lending is an equal opportunity employer committed to providing equal employment opportunity without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, age, disability, or any other protected status with respect to recruitment, hiring, promotion and other terms and conditions of employment.