Collections - Repossession Specialist - Remote

Under limited supervision, the Repossession Specialist performs collection activities for delinquent loan accounts to resolve delinquency and mitigate losses to the Credit Union through timely repossession of collateral.

This role is responsible for the full repossession process (pre-liquidation, liquidation and post-liquidation).

This includes skip tracing, NOI, CPI/Lienholder claims, GAP/MRC, impounds, titles, transport, auction and researching and analyzing historical data and other relevant information to determine value and negotiation of selling price.  Works directly with remarketers and auto auctions to facilitate resale of repossessed vehicles.

Ensures all steps including, but not limited to efficiently transporting assets to the auction, reading and evaluating condition reports to set an accurate floor price, as well as notifications and letter correspondence are completed timely and in compliance with Federal and State regulations on delinquent accounts.  In addition, provides support to the Member Solutions Department as needed.

Represents Nuvision Federal Credit Union in a positive and professional manner at all times, providing excellent customer service, showing mutual respect while working with and collaborating with others to build strong relationships internally within the organization and externally with our members and business partners.

Responsibilities:


* Responsible for the efficient administration of the repossession process and effectively manages the assets disposition in accordance to all regulations and state specific laws.


* Utilize online skip tracing systems or other resources to acquire information needed to establish contact or successful repossessions.

 


* Works a queue of loans assigned for repossession and processes all required paperwork as needed.


* Values and appraises collateral, sets floor sale price and negotiates price within authority.

 


* Authorizes repairs and other reconditioning within authority level.

 Applies sale proceeds, validates collateral and condition.


* Verifies insurance coverage and files various insurance damage claims with members insurance or CPI.


* Obtains and procures repo titles, prepares bills of sale, POAs, and affidavits.


* Responsible for completing all related documentation, notifications and reporting accurately and within established SLAs and required time frames in accordance with credit union standards, policies and procedures. 


* Follows up on accounts until collateral is recovered and sold
Responsible for accurate tracking of repossessed autos and monthly reporting of activity as well as timely payment to vendors.

 


* Audit repossession log monthly and report inventory for Known Loss calculation


* Ensures unit is delivered to the appropriate auction or retailer for disposition.


* Periodic on-site auction or Internet inspections are to be performed and documented to ensure proceeds from all sold...