Hardship Officer

The Hardship Officer is responsible for providing assistance and solutions to customers experiencing short term financial hardship, enabling them to meet their mortgage repayment obligations. This role involves assessing financial situations, developing personalised solutions, updating loan systems, and collaborating closely with Collections Officers and the Dispute Resolution Manager to ensure fair and compliant outcomes

Key Accountabilities & Responsibilities

• Assess and understand customers’ financial situations to determine appropriate Financial Hardship Assistance and provide tailored solutions.

• Conduct thorough assessments of customers’ financial circumstances, including income, expenses, debts, and assets. Additionally, be proficient in reading financial statements.
• Collaborate with customers to develop personalised hardship solutions such as loan modifications, repayment plans, forbearance agreements, or debt restructuring.
• Ensure compliance with relevant regulatory requirements and internal policies when implementing hardship solutions, maintaining accurate records.
• Maintain open and transparent communication with customers throughout the hardship assistance process, providing updates, guidance, and support.
• Build positive relationships with customers by demonstrating empathy, understanding, and professionalism.
• Work closely with internal departments, including collections, risk management, legal, and customer service teams, to coordinate efforts.
• Stay informed about industry trends, best practices, and emerging technologies related to hardship assistance.
• Provide backup support to the External Dispute Resolution Manager and assist with complex internal dispute resolutions.

Experience & Qualifications

Minimum of 2-3 years of experience in hardship assistance, collections, or mortgage loan assessment within the financial services industry.

• Proven experience in assessing complex financial situations and developing tailored repayment solutions for customers in difficulty.

• Strong understanding of the National Consumer Credit Protection Act (NCCP) and privacy laws relevant to financial hardship.

• Demonstrated experience in delivering high-quality work while managing a range of accounts within the Australian region.

• Experience with loan management systems and customer relationship management (CRM) tools. • Familiarity with dispute resolution processes and supporting external complaints (e.g., AFCA) is highly desirable.

Skills, Knowledge and Abilities

Outstanding verbal and written communication skills, with the ability to convey complex information clearly and empathetically.

• Strong analytical and problem-solving skills, capable of conducting thorough financial assessments and devising effective solutions.

• Highly organised with the ability to manage competing priorities and a caseload effectively.

• Ability to build positive relationships with both internal stakeholders and distressed customers.

• Strong negotiation and conflict resolution skills, with a focus on achieving fair and sustainable outcomes.

• Dedicated and reliable team player, able to work collaboratively with collections and dispute resolution teams.

• High level of empathy, patience, and resilience when dealing with sensitive customer situations.

• Meticulous attention to detail in record-keeping and compliance.

• Proactive approach to identifying customer needs and potential solutions.