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Role Description

This position processes, prepares, reviews and coordinates all facets of voluntary and involuntary consumer loans for repossession. Provide guidance and assistance in preparing units to be sold using appropriate sales channels. Provide technical support to team members and assists the Account Solutions department leaders in all facets of the repossession process to ensure the timely sales of collateral.

• Leads efforts and determines next best steps in preparing member accounts and assigning collateral for voluntary and involuntary repossessions.
• Ensures all title work is prepared for transfer of collateral from member to credit union.
• Prepares title for sale and submits to appropriate auction house.
• Ensures all repossessed collateral is prepared for sale and sale proceeds are applied timely and accurately.
• Acts as a resource to answer difficult questions to solve complex problems for members and staff.
• Follows up on details to resolve the matter to the satisfaction of all parties.
• Maintains an accurate accounting of repossessions in stock by updating Temenos collection system notes and case tasks.
• Sends collection notification by letter to members prior to and after the sale of collateral per policy and procedure guidelines.
• Oversee repossession companies and monitor progress of recovery to assigned vehicles and that timely updates are being received.
• Maintains a list of acceptable agencies for use in repossession matters and ensures an agency is assigned to each account.
• Approves additional mileage and/or repair requests up to authorized amount.
• Reviews all tow and impound notices in a timely manner and makes determination of next steps to protect the collateral.
• Performs advanced skip-tracing duties, as required and directed.
• Reviews repossession invoices for accuracy and submits all invoices for approval of payment to the Member Solutions department leaders in a timely manner.
• Assists the Account Solutions department leaders with any reports needed regarding repossession and sale of collateral.
• Documents equipment on the collateral at the time of repossession and prepares chargeback letters to dealers for the value of any missing equipment with management approval.
• Submits insurance claims and service contract refund requests on repossessions.
• Communicates with dealerships and insurance companies in a timely and professional manner while ensuring recovery is maximized.
• Makes recommendation for charge-off of accounts in accordance with credit union policy.
• Performs all duties and tasks associated with the collections function including counseling delinquent members and assisting with solving their financial challenges.
• All other duties as assigned.

Qualifications

• A minimum of three (3) years of experience with asset/collateral recovery or specialty collections, ideally in a financial institution.

Requirements

• Thorough knowledge of collection and bankruptcy laws and procedures.
• A complete hands-on working knowledge of the credit union’s collection guidelines.
• Ability to maintain consistent outstanding standards in areas of accuracy, thoroughness, completeness, and neatness of documentation, system input, and correspondence.
• Ability to assume a positive group leadership role by demonstrating a high level of communication and interpersonal skills.
• Demonstrate a high level of problem-solving skills to assist with the coordination of staff functions.
• Ability to make decisions, take action and accept responsibility for results.
• Strong interpersonal and persuasive skills to represent the Credit Union in a positive way during periods of stressful member contact.
• Good understanding of the organization’s goals and objectives.
• Strong documentation skills.
• Highly self-motivated and directed, with keen attention to detail.
• Able to prioritize and execute tasks in a high-pressure environment.
• Experience working in a team-oriented, collaborative environment.
• Must maintain confidentiality.
• Ability to present ideas in user-friendly language.

Benefits

• This position is eligible for Full-Time Regular benefits.
• Employees and their eligible family members have access to a wide array of employee benefits, such as medical, dental, vision and life insurance coverage.
• Includes an option for Medical, Dental, and Vision insurance to be paid at a 100% by company for the employee only coverage.
• Health Care FSA (HCFSA), Health Savings Account (HSA) with employer contributions, and Dependent Care FSA (DCFSA).
• Access to Life and AD&D insurance.
• Ability to enroll in our 401k plan.
• Full-Time Regular employees accrue 8 hours of vacation and 8 hours of sick leave, on a monthly basis.
• 11 paid holidays throughout the calendar year, 1 floating holiday, 16 hours of self-care time, and 16 hours of volunteer time.
• All benefits except 401k start the first of the month following date of hire.
• Employees become eligible to contribute to 401k on the first of the month following 60 days of employment.