Repossession Specialist

Job Title 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: Monday - Friday, 9:00AM - 5:30PM CST Monday - Friday, 10:00AM - 6:30PM EST Location: 820 Follin Lane, Vienna, VA 22180 5510 Heritage Oaks Drive, Pensacola, FL 32526 141 Security Drive, Winchester, VA 22602 Job Info Job Identification 33385 Job Category Repossession Posting Date 10/28/2026, 07:03 PM Apply Before 11/05/2026, 05:55 AM Degree Level No Formal Education Job Schedule Full time Job Shift Shift Work Targeted Salary Range $25.63 - $44.92 hourly