Collections Repossession Specialist

About the Role: The Collections Repossession Specialist is responsible for coordinating all Credit Union repossession activities and servicing severely delinquent accounts.

This position works closely with members, vendors, and internal departments to manage repossessions, monitor payment arrangements, coordinate collateral recovery and auction processes, and minimize potential losses to the Credit Union.

Ensures accurate documentation, timely resolution of accounts, and compliance with Credit Union policies and applicable regulations while maintaining a positive member experience.

Scheduled Weekly Hours: 40 hours per week; Monday Friday; 8:30 5:30pm What youll be doing: Provide a positive member experience while managing delinquent accounts and following Credit Union policies and procedures.

Initiate outbound calls to borrowers with severely delinquent loans, monitor past-due accounts, and coordinate collection efforts.

Make repossession recommendations and manage related activities, including skip traces, insurance claims, and collateral recovery.

Monitor short-term payment arrangements and negotiate reinstatement or redemption options in accordance with Credit Union guidelines.

Coordinate with repossession, skip trace, and auction vendors to ensure timely recovery and disposition of collateral.

Manage vehicle auction processes, including determining collateral values, reviewing bids, preparing required notices, and coordinating title releases.

Review vehicle condition reports, monitor impound notices, and take appropriate action to protect Credit Union assets.

Maintain accurate and detailed records of collection activities, repossession updates, vendor communications, and account resolutions.

Ensure compliance with applicable federal and state collection laws, regulations, and Credit Union policies.

Manage vendor relationships, evaluate performance, and resolve service-related concerns to support efficient collection operations.

Youre Perfect For This Role If You Have: A high school diploma or equivalent.

At least 2 years of collections experience.

Experience in collections, lending, or a financial institution, including customer service and problem resolution.

Strong verbal and written communication skills, with the ability to handle sensitive member interactions professionally.

Strong analytical and mathematical skills, including the ability to calculate rates, ratios, and percentages and interpret data.

Ability to read and interpret policies, procedures, technical documents, and government regulations.

Excellent attention to detail and the ability to prepare accurate reports and correspondence.

High proficiency in Microsoft Office software programs.

Who We Are: Bay Federal Credit Union was started in 1957 when local school teachers pooled their money together to start a credit union.

This original vision and investment has grown into the areas largest locally-owned financial institution, with nearly $1.6 billion in assets.

Today, Bay Fed...