Repossession Specialist

Overview

To coordinate the repossession process and disposition of property (e.g., cars, boats, motorcycles, airplanes, etc.) that serves as collateral on Navy Federal loans. Serve as point of contact and subject matter expert regarding section functions, systems, policies and/or procedures. Work is performed under moderate supervision.

Responsibilities

• Responsible for coordinating all aspects of the repossession process
• Remain familiar with payment methods available to members (e.g., direct remittance, recurring deposits, Western Union Quick Collect, Speed Pay, etc.)
• Communicate to members, co-makers, and/or joint owner on all aspects of the repossession process
• Prepare all documents required to initiate the repossession process
• Contact insurance companies for payoffs; send Letters of Guarantee, monitor for payments and send titles to insurance companies
• Serve as point of contact for internal departments regarding repossessions
• Select repossession agents and negotiate fees for repossession
• Document all member related contact in the Repossession Tracker and in other applicable systems throughout the repossession process
• Process impound notices by contacting tow companies; negotiate fees, obtain vehicle condition, reason for impoundment and documents needed to recover the collateral
• Monitor and ensure updates are provided by repossession agents; assist agents with skip tracing to locate collateral as needed
• Recommend accounts to skip companies and/or License Plate Recognition staging if unable to locate
• Recommend accounts to be returned to LCR, or Bankruptcy if unable to locate
• Submit requests for required letters for redemption/reinstatement; ensure letters are accurate and mail them in accordance with State regulations to members
• Assist members with reinstatement or redemption of their vehicle; contact the agent or auction to have the vehicle released to the member
• Prepare documents to submit to the Department of Motor Vehicles to process a repossession title or to sell the collateral
• Maintain an overall quality assurance audit rating of 90%
• Determine floor price and send required documents to auction; release vehicles for sale in Auto IMS
• Receive auction bids received thru various communication channels (e.g., email, telephone, fax, Auto IMS, etc.); determine if auction offer can be accepted and that the number of bids aligns with State requirements; determine if counting the bid will be required, or decline the offer and request that the vehicle be run on the next sale date
• Review and process sale proceeds with accounting department to ensure funds are applied properly to the member's account
• Submit requests to reduce interest rates to "0" on open book loans with a deficiency balance
• Maintain knowledge of and ensure compliance with applicable federal and state laws, rules, regulations and Navy Federal policies and procedures
• Maintain records of repossessions and prepare reports for management
• Track and reconcile expenses with general accounting incurred during the repossession process
• Perform other duties as assigned

Qualifications

• Working knowledge of applicable federal and state laws, rules and regulations (e.g., Fair Debt Collection Act, Fair Credit Reporting Act, etc.)
• Experience in the collection of delinquent loans
• Experience using auditing/accounting principles and methods, preferably in a financial institution
• Experience in financial counseling, negotiating, and explaining decisions to members
• Experience in financial transaction/processing related responsibilities
• Experience working with all levels of staff, management, stakeholders, and vendors
• Ability to describe and discuss mechanical conditions of automobiles
• Ability to comprehend, analyze, interpret, communicate and apply government and financial industry regulations, related principles and practices, and company instructions, procedures, and policies
• Ability to work independently and in a team environment
• Effective member/customer service skills
• Effective skill following, interpreting and applying relevant data/instructions to guidelines, procedures, practices and regulations
• Effective skill assimilating information, analyzing facts, and developing logical conclusions
• Effective skill performing mathematical calculations and working accurately with numbers
• Effective skill exercising initiative and using good judgment to make sound decisions
• Effective skill building effective relationships through rapport, trust, diplomacy and tact
• Effective skill interacting tactfully and effectively in difficult situations
• Effective skill to influence, negotiate and persuade to reach agreeable exchange and positive outcomes
• Effective research, analytical, and problem solving skills
• Effective organizational, planning and time management skills
• Effective verbal, interpersonal and written communication skills
• Effective database, word processing, and spreadsheet software skills

Desired Qualifications

• College level courses with concentration in Accounting, Finance, Business, or related field
• Knowledge of the remarketing industry and familiarity with the repossession process and related regulations and procedures
• Familiarity with Navy Federal products, services, processes, policies and procedures

Additional Information

Hours:

• Availability between 8:00AM - 6:30PM EST

Location:

• 5510 Heritage Oaks Drive, Pensacola, FL 32526
• 141 Security Drive, Winchester, VA 22602

About Us

Navy Federal provides much more than a job. We provide a meaningful career experience, including a culture that is energized, engaged and committed; and fierce appreciation for our teams, who are rewarded with highly competitive pay and generous benefits and perks. Our approach to careers is simple yet powerful: Make our mission your passion. * FORTUNE 100 Best Companies to Work For 2026 * Yello and WayUp Top 100 Internship Programs 2025 * Computerworld Best Places to Work in IT 2026 * Most Loved Workplace - America's Top Most Loved Workplaces 2025 * 2025 PEOPLE Companies That Care * Newsweek Most Trustworthy Companies in America 2026 * Military Times 2025 Best for Vets Employers * Forbes 2026 America's Best Large Employers * Forbes 2025 America's Best Employers for New Grads * Forbes 2025 America's Best Employers for Tech Workers * 2025 RippleMatch Campus Forward Award Winner for Overall Excellence * Military.com Top Military Spouse Employers 2025 * 2026 Handshake Early Talent Award * Newsweek America's Greatest Workplaces for Culture, Belonging and Community 2026 From Fortune Magazine. 2026 Fortune Media IP Limited. All rights reserved. Used under license. Fortune and Fortune 100 Best Companies to Work For are registered trademarks of Fortune Media IP Limited and are used under license. Fortune Magazine, Fortune Media (USA) Corporation, and its affiliates are not affiliated with, and do not endorse products or services of, Navy Federal Credit Union. Equal Employment Opportunity: All qualified applicants will receive consideration for employment without regard to age, race, sex, color, religion, national origin, disability, veteran status, pregnancy, sexual orientation, genetic information, gender identity or any other basis protected by applicable law. Accommodations: If you need accommodation or assistance for a qualifying condition to complete the online application (or during any stage of the hiring process), you can contact Navy Federal's Medical Accommodations team at View email address on click.appcast.io or by calling View phone number on click.appcast.io. This team cannot provide any information on job postings or application status. Disclaimers: Navy Federal reserves the right to fill this role at a higher/lower grade level based on business need. An assessment may be required to compete for this position. Job postings are subject to close early or extend out longer than the anticipated closing date at the hiring team's discretion based on qualified applicant volume. Navy Federal Credit Union assesses market data to establish salary ranges that enable us to remain competitive. You are paid within the salary range, based on your experience, location and market position. For additional details regarding compensation and benefits, review the Benefits page of the Navy Federal Career Site. Protect Yourself from Job Scams: Navy Federal Credit Union jobs are posted on our career site, jobs.navyfederal.org and reputable job boards (e.g., LinkedIn, Indeed). We do not post jobs on social media marketplaces, messaging apps or unverified websites. We will never ask candidates for payment, bank details or personal financial information during the hiring process. Bank Secrecy Act: Remains cognizant of and adheres to Navy Federal policies and procedures, and regulations pertaining to the Bank Secrecy Act.