Vehicle Recovery Specialist (Collections)

About the Role

This role is responsible for the collection of delinquent loan accounts and related collection issues.

Responsibilities

• Collect accounts assigned by department management, including member negative share balances, MasterCard accounts, mortgage and home equity accounts, consumer and small balance commercial loan accounts.
• Maintain accurate records used in the collection of accounts.
• Acquire and preserve knowledge of state and federal laws pertaining to Bankruptcy and Collection.
• Understand regulations surrounding the right of offset and freezing funds with regards to SSI, SSD, and Pension.
• Retain state and federal laws regarding repossessions.
• Stay informed about the Fair Credit Reporting Act and the CFPB as they pertain to collections.
• Maintain business relationships with outside collection attorneys, repossession agents, and other collection-related vendors to ensure accurate and timely service.
• Keep the repossession spreadsheet accurate and up to date.
• Assign repossessions to vendors using repossession software.
• Provide accurate costs and fees associated with repossessions.
• Send repossession inventory for inspection, detailing, and/or transportation.
• Prepare Right to Redeem letters, Public Sale letters, and Deficiency balance letters.
• Process all sales proceeds and distribute them to proper locations (e.g., Collection Expense GL, Repossession GL, Bankruptcy GL, and member loan).
• Contact creditors to obtain lien releases.
• Apply all payments received from Lee & Mason.
• Process all service requests received for the department.
• Review accounts for charge off after sale proceeds have been processed.
• Perform other duties as needed.

Requirements

• Associate’s degree from an accredited college or university.
• Minimum five years of related experience, or an equivalent combination of education and experience.

Bilingual individuals fluent in a second language in addition to English are highly encouraged to apply.

Pay

Starting compensation: $20.68 - $24.82 per hour.

Benefits

Competitive benefits package.