Repossessions Specialist Senior-Hybrid

About the role

Assigns delinquent secured loans for repossession both in and out of state, follows up on repossession assignments, and determines vehicle condition and value. Schedules collateral for sale, approves sale amounts, and sends out all necessary legal notices throughout the repossession process. Acts as a resource for Loan Adjustors on impound vehicles, wrecked vehicles, insurance claims, and all vehicle seizures. Contacts members with delinquent loans via written and verbal communications to arrange for their obligations. Conducts investigations to locate missing collateral and recommends and prepares accounts for charge off, assignment to private investigators, and possible legal action.

Responsibilities

• Performs all consumer loan collection activities.
• Processes lien releases as accounts are paid off or collateral is exchanged.
• Serves as liaison with repossession agencies, auctions, attorneys, private investigators, and outside vendors in handling repossession of collateral.
• Conducts investigations to locate debtors and/or collateral.
• Reviews and analyzes accounts approved for repossession, including payment history, verification of delinquency, notification to all parties, etc.
• Oversees and is responsible for loans from approval to repossess through repossession and sale of collateral, including all legal notification, verification of proceeds, and release of title.
• Acts as a resource for Loan Resolution in problem solving involving vehicles with regard to insurance matters, lien sale situations, impound, seizures, and any other circumstances concerning collateral at risk to the Credit Union.
• Performs fieldwork requiring off-site visits to local auctions, branch offices, vendor sites, and other localities to conduct investigations or inspect repossessed assets.
• Performs physical inspections by maneuvering in, around, above, and beneath repossessed assets to evaluate operability and overall condition.
• Ensures that all monies (insurance refunds, extended warranty refunds, payment of claims and repossession costs, sale proceeds, and all other eligible proceeds) have been received and applied prior to closing repossession file.
• Itemizes and collects any personal effects from repossessed assets and returns them to appropriate parties, as necessary.
• Performs market studies by analyzing data to assess overall value of repossessed properties and recommends pricing for resale.
• Assists in maintaining statistics on sale of vehicles.
• Attends court proceedings and testifies as a witness on behalf of the Credit Union.
• Remains current on laws and regulations as they pertain to repossession, sale of collateral, skip-tracing, and all collection matters.
• Works with peers and leadership from different functions and has an impact across the department.

Qualifications

• Education: Bachelor's Degree preferred.
• Experience: Minimum 5 years of collections or repossessions experience. Thorough understanding of repossession process and related laws & regulations.
• Knowledge, Skills & Ability:
  • Working knowledge of the Microsoft suite of office products with advanced skill in MS Excel.
  • Working knowledge of collateral sale regulations & guidelines.
  • Experience with repossession agencies, auctions, attorneys, private investigators, and outside vendors in handling repossession of collateral.
  • Strong analytical skills.
  • Thorough knowledge of vehicle and product market trends via resources such as Edmunds, Kelly Blue Book, Black Book, Automotive News, National Automobile Dealers Association, or other publications and services.
  • Ability to independently manage a significant number of projects and assignments concurrently in a fast-paced, deadline-driven environment.
  • Ability to perform physical inspections and occasionally lift and carry up to 40+ pounds, climb on ladders, stoop and bend, traverse on gravel and uneven surfaces.
  • Ability to travel to off-site locations, as necessary.
  • Demonstrated ability to conduct successful investigations to locate collateral and/or debtors, including a working knowledge of repossession and skip-tracing regulations & guidelines.
  • Working knowledge of asset recovery and investigative systems such as Lexis-Nexus, Accurant, TLO, or other related technology/systems.
  • Must remain current in Federal Debt Collection Practices Act.
  • Own and solve complex tasks that are part of a large project and lead small projects on their own.

Pay

USD $30.71 - USD $46.06 /Hr.