CarBucks Audit/Collection Specialist

About the Role

Accountable for limiting company financial exposure by driving dealer collection activities, including identifying problematic accounts, resolving past-dues, and growing the collection of receivables. Responsible for mitigating account delinquencies in a timely manner or recommending collection actions, assigning field audits, investigating unaccounted inventory, and consistently applying credit policy to assess creditworthiness with the goal of optimizing sales revenue and minimizing potential losses.

Responsibilities

• Perform unit verification actions in accordance with company guidelines, including retrieving photographic verification with mileage on unverified collateral and using real-time facetime applications to resolve unit status.
• Coordinate and advise on third-party verifications, audit scheduling, and dealer actions.
• Monitor the collection of required documents and information, analyze audit results, and approve audits based on account performance.
• Review and modify weekly audit schedules, correct miscoding or scheduling errors, and cancel unnecessary audits.
• Maintain up-to-date files with proper coding for new customers, division codes, and inactive accounts.
• Ensure proper rotation between QuikTrak and CarBucks and reschedule past-due audits as needed.
• Review new contract information to assess risk and document key points.
• Create and maintain records of customer financial status, account changes, and collection efforts.
• Prepare and analyze receivable reports to identify problem accounts and implement collection plans.
• Manage collection efforts for past-due accounts, returned dealer drafts, and other non-payment issues while adhering to company policies.
• Collaborate with internal Sales Teams to resolve audit and collection issues.
• Provide financial feedback on customer pecuniary state and recommend collection actions (e.g., account holds, extensions, change of terms, or collection placement).
• Accurately document all account activities, verifications, and changes.
• Source and record account information to aid collection efforts, such as current contact details.
• Evaluate the creditworthiness of dealer accounts by assessing credit risk and viability.
• Confer with dealers by telephone to determine reasons for overdue loans, solicit payments, and review credit contract terms.
• Negotiate account resolution and advise customers on repayment strategies.
• Work with other floorplans to move inventory off floorplan for payoff and ensure accuracy of amounts.
• Source information and synthesize data to determine corrective actions (e.g., repossession, coding as sold, or third-party verification).
• Notify appropriate personnel of recommended actions, such as account holds, repossession, or write-offs.
• Escalate large collection issues to management in a timely manner.
• Exhibit follow-up detail and perseverance when contacting dealers regarding overdue payments.
• Maintain communication with the Sales Team concerning collection and repossession efforts.
• Coordinate transport of repossessed units if management decides to secure collateral at auction.
• Demonstrate excellent customer grievance management skills and communicate clearly and professionally with dealers.
• Actively seek improvements to customer service and continuously improve work quality.
• Assist with incoming phone calls to service customer accounts.
• Maintain the integrity of customer credit information by adhering to privacy policies and regulations.
• Source and distribute information about potential industry trends and their impact on receivables.
• Work collaboratively with team members and act as a mentor to new associates.
• Perform other duties as assigned by management.

Requirements

• Minimum of 1-2 years of proven financial, accounting, or collection services experience.
• Customer service experience.
• Good analytical and mathematical abilities.
• Working knowledge of Microsoft applications, such as Excel.
• General knowledge of automotive components preferred.
• Experience working independently or with limited supervision.
• Demonstrated interpersonal and communication skills, with the ability to interact professionally with clients and internal/external contacts.
• Demonstrated customer grievance management skills.
• Knowledge of current credit laws and regulations.
• Effective organizational, time management, and attention to detail and accuracy.
• Ability to comprehend and adhere to operational controls, including compliance with all required policies and federal/state banking regulations (e.g., Bank Secrecy Act/Anti-Money Laundering, OFAC, USA PATRIOT Act).

Qualifications

High School Diploma or equivalent required.

Physical Requirements

• Primarily involves general office work, including extended periods of sitting and operating standard office equipment.
• Frequent communication by phone, email, or in-person; must be able to exchange accurate information, speak clearly, and read/understand presented information.
• Frequent use of repetitive hand and finger dexterity to operate a computer keyboard, mouse, copier, and other office equipment.
• Occasional exertion of in excess of 20 pounds of force to lift and/or move objects.