Recovery & Litigation Paralegal

Position type: Full-time

Location: Philadelphia, PA

Schedule: Monday – Friday

Hybrid/Onsite

Description

NewLane Finance is a commercial equipment finance company, serving small and mid-size businesses nationwide. Our mantra is "business lending done right", and our strategy is to revolutionize small business lending by employing the latest technology and a motivated workforce to deliver fair and transparent financing solutions to businesses with unmatched levels of speed, convenience, and customer service.

Our products and services are offered to the business community primarily through financing programs with equipment manufacturers, distributors, and dealers. NewLane Finance is powered by WSFS Bank, a $20+ billion financial organization.

NewLane Finance is immediately seeking an experienced Recovery & Litigation Paralegal with strong skills in, but not limited to, commercial litigation preparation, written and oral communication, the ability to identify issues and provide solutions, attentiveness, and time management. The successful candidate will also possess an energetic, courteous, and professional demeanor.

This position will be reporting to the Director of Recovery of NewLane Finance.

Our Values

• Integrity
• Passion
• Teamwork
• Commitment to Excellence

Essential Functions

• Manage applicable recovery queues and data input to CRM system(s).
• Preparation of civil litigation cases within the Commonwealth of Pennsylvania, Philadelphia County, Court of Common Pleas, and Municipal Court.
• Preparation of Proofs of Claim within the Bankruptcy Court. Review bankruptcy plans for the treatment of claims.
• Preparation of Claims within Probate matters.
• Manage third parties with respect to the recovery and sale of equipment that is surrendered or repossessed to optimize the recovery amount.
• Assess and resolve post-charge-off accounts for possible settlement within a bankruptcy, litigation, and/or defense matter. Exercise discretion and independent judgment with respect to settlement rates to net losses in compliance with company policy.
• Engage in outbound\inbound recovery calls to identify issues and provide solutions.
• Effectively communicate with (and manage) outside counsel with respect to the domestication of judgments and/or the initiation of new civil matters.
• Resolve delinquencies with accuracy, professionalism, and compliance with the Fair Debt Collection Practices Act.
• Analyze corporate and/or personal financial data to assess the appropriate course of action.
• Initiate research and skip-tracing efforts to proffer legal/recovery action when applicable.
• Monitor assigned accounts and applicable inventory to identify recovery opportunities and portfolio trends and provide regular collection/recovery forecasts to senior management.
• Broad understanding of accounts receivable, payment application and account reconciliation.
• Assist and complete additional tasks/duties deemed needed by management.
• Identify inefficiencies within the current workflows and assist in making improvements.
• Assist management with the drafting and implementation of departmental policies and procedures manual.
• Attain recovery individual and team goals set by management.
• Achieve monthly/quarterly/yearly targets and Key Performance Indicators.
• Willingness to learn new technology, processes, and procedures.

Requirements

• Five plus years of relevant paralegal/commercial litigation experience. Leasing/financial industry/banking sector is preferred but not required.
• General knowledge of commercial equipment financing and the products thereof.
• Possess a positive and “customer-centric” attitude, adhering to the core values of NewLane.
• Must have a “business” mindset, with an understanding of the financial services industry – including an ability and desire to learn all facets of financial services, such as leasing, secured lending, and asset management.
• Exceptional organizational skills.
• Ability to work autonomously while displaying excellent written and verbal communication skills.
• Ability to effectively negotiate settlements with respect to post-charge-off accounts.
• Detail-oriented and able to remain patient and professional when interacting with customers.
• Ability to work quickly and efficiently without sacrificing quality.
• Proficient computer skills, including MS Office Suite, and the ability to learn various proprietary software programs.
• Must have legal right to work in the U.S.

NewLane Finance is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, gender expression, national origin, age, protected veteran or disabled status, or genetic information.

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