Job SummaryOur Repossession Specialist is an integral individual contributor with a passion for connecting and problem-solving with our members while protecting the integrity and interest in all Credit Union loans. Our Repossession Specialist plays a critical role in preserving the credit union's assets by assigning auto loans for repossession and liquidating collateral after repossession, managing vendor relationships with Third Party repossession and auction companies, and focusing on reducing loan losses.
Essential Functions
- Responsible for handling auto repossessions and liquidations.
- Assigns auto loans for repossession to Third Party Repossession Vendors.
- Monitors loans out for repossession to ensure collateral is recovered timely.
- Communicates with borrowers to resolve loans out for repossession or after repossession.
- Sends appropriate letters at time of repossession and liquidation.
- Determines when repossessed collateral will be sold at auction.
- Provides approved list of collateral to auction vendors to be sold at auction.
- Documents results from the auction and applies proceeds to the loan.
- Communicates regularly with repossession and auction vendors.
- Maintains accurate reporting and provides monthly reports.
- Maintains accurate records of collection efforts by documenting actions in the collection system.
- Exercises sound judgment, initiative, and tact during communication with members, outside agencies, and other internal employees.
Knowledge, Skills, and Abilities
- Professional, high-quality service to members.
- Strong verbal and written communication skills.
- Knowledge of laws and regulations within the collection field.
- Knowledge and experience in repossessions and liquidations.
- Contribute to a sense of teamwork and purpose within the department.
- Initiate operational efficiencies.
- Compliance with all security and confidentiality policies and procedures.
- Manages time and resources to ensure all work is completed accurately and on schedule.
- Effective verbal and written communication skills and ability to document procedures.
- Independently identify, analyze, and resolve member issues.
- Understanding of credit union operations, procedures, and applicable regulations.
- Highly organized and able to multi-task effectively.
Qualifications
- High School Diploma or equivalent required.
- 2 years of work experience in a financial institution.
- 3+ years of collection experience.
- 1+ years of repossession and liquidation experience.
- Knowledge of FDCPA guidelines required.
At OnPoint, we believe a workplace that reflects the richness of the world fosters a welcoming and empowering environment for everyone. We're committed to equity and inclusion, and consider all qualified applicants embracing every race, religion, color, sex, national origin, age, sexual orientation, gender identity, disability or veteran status, and your unique background.
We encourage you to apply if you're passionate about this opportunity and have the core qualifications. Your unique experiences and skills are what make you a strong candidate. Don’t let imposter syndrome hold you back! Our recruitment process is designed to be inclusive and accessible to all. If you need any accommodations during the application or interview stage, please let us know. We're dedicated to providing what's necessary to ensure a fair and inclusive experience.
