Repossession Specialist

Description

Summary

Responsible for performing collection activities associated with delinquent loans. Includes contacting &/or locating member using various collection tactics. Must have knowledge of the legal aspects of collections (laws, regulations, statues, etc.) and possess knowledge of bankruptcy laws and CU products/ services and procedures.

Essential Functions

50% 1. On a daily basis, monitor the repossession process for collateralized loans. Daily work accounts that are assigned for repossession which includes calling the member, skip tracing, updating recovery efforts, and providing new leads to assigned repossession agents.

25% 2. Daily review of the approved assign for repossession queues. Assign accounts that have been approved for repossession. Ensure all appropriate letters have been sent out prior to assigning to repossession agent.

15% 3. Daily review of vehicles in the remarketing process. Review condition reports, floor valuations, review and approve or counter auction bids, post-sale funds, and send notice of deficiency.

10% 4. Complete skip claims, assign and/or file a claim. Collect and send all required documents including titles to insurance carrier in a timely manner to ensure payment and transfer of lien.

Non-essential Functions

• Attend FFCU meetings. May perform a variety of miscellaneous tasks including typing, filing, computer input & answering the telephone. Completes special projects as required. Other duties as assigned.

Expectations

• Maintains a thorough knowledge of all collection & bankruptcy laws and regulations.
• Must keep accurate and up-to-date documentation, records and paperwork on all accounts contacted to ensure compliance with applicable collection laws & regulations.
• Keep supervisor informed of delinquent activities & any significant problems or concerns.
• Make appropriate recommendations for delinquent accounts while assisting members in a fair/consistent manner.
• Ensure the Credit Union's professional reputation is maintained and conveyed.

Requirements

Qualifications

Education: High school graduate or equivalent.

Experience: 3 years collection experience.

Knowledge, Skills, Abilities: General understanding of collection function, policies, procedures, laws and

regulations. Have knowledge of required computer applications. Must communicate effectively with members, supervisor

and co-workers. Perform minor math calculations and demonstrate accuracy, attention to detail, proficient member service

skills, and work with a cooperative team spirit. Ability to work in a changing environment, identify member financial needs and deal with stressful situations. Must work effectively in high traffic position with heavy workloads while displaying a professional attitude.