REPO SPECIALIST

Primary Duties

• Research delinquency of collateralized accounts that are at or exceed classification of repossession review status: Delinquency at or exceeding 45 days.
• Generate and track pre-repossession warning notifications and thorough documentation of the accounts within the collection package.
• Review balance, collateral, and collateral condition, when available, to determine approval or denial for repossession assignment.
• Assign vehicles to repossession agents.
• Compile and process updates from repossession agent at time of repossession to assist Processors with right to redeem generation.
• Review collateral condition reports and other information after repossession to determine floor bids for sale/auction.
• Evaluate sale/auction bids for acceptance, counteroffer, denial, and possible rerun or reassignment of collateral.
• Manage all vendors in the repossession process; oversee claims and cancellations of any add-on products (service/warranty/GAP insurance/insurance, etc.).
• Assist the member in the resolution, redemption, and release of repossessed collateral that is being paid with the intent of redemption.
• Evaluate and make recommendations to the department managers regarding the effectiveness of third party (repossession agents, auctions, etc.) efforts to minimize losses to the Credit Union.

Secondary Duties

• Continually examine accounts to determine if a skip assignment is available due to having active CPI insurance or other loan coverage.
• Evaluate direct and indirect loans for fraudulent activities and make recommendations to the department managers regarding dealers who should be placed on a watch list.
• Maintain account updates with the Starter Interrupt/GPS website.
• Perform loss mitigation to protect asset values and to minimize net losses.
• Work with outside agencies in relation to Impound, Police or Government seizure of collateral to protect Credit Union interests.
• Aid in accurate repossession/redemption coding in relation to credit reporting.
• Alert management to potential risk exposure due to titles in suspense, unperfected liens, etc.
• Attend repossession auctions when necessary to attempt to expedite acceptance or counter-offers to proposed bids.
• Aid in necessary reporting duties.
• Participate in regulatory examinations and audits.

Qualifications

• Prerequisite Education: High school diploma or equivalent.
• Prerequisite Experience: Four or more years in a collector’s position* within the last 7 years. Defined as four years in a debt collection position(s) where the majority of one’s job included collecting delinquent consumer, mortgage and/or commercial accounts. Previous loan and share account research and investigation experience. Previous repossession assignment, bidding, and auctions are preferred.

Other Prerequisite Requirements Of The Position

• Excellent interpersonal skills with members by telephone.
• Speed and accuracy to meet deadlines in a high-paced environment.
• Able to manage multiple projects and deadlines simultaneously while maintaining a high level of member service.
• Strong verbal and written communication skills.
• Ability to read and interpret loan history.
• Experience with Excel and Word preferred.

Required Knowledge, Skills And Abilities

• Customer service attitude and skills to include: Team player attitude, commitment, patience, enthusiasm, creativity, listening, comprehension, initiative, cooperation, attention to detail, resourcefulness.
• Professionalism to include: Confidence, good judgment, appropriate demeanor and appearance, ability to interact with employees and members.
• Skills to include: Problem solving, decision making, time management, interpersonal communications, presentation and organization.
• Repossession process from beginning to end.

Physical, Mental or Visual Demands

• The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job.
• Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.