Repossession Specialist

Repossession Specialist

Join the Keesler Federal Credit Union team! Keesler Federal Credit Union team members enjoy competitive salaries and a wide range of benefits, some of which include:

• Medical, dental, and vision insurance
• Section 125 Flexible Spending Accounts for Health Care and Dependent Care expenses
• Employee and Dependent Life Insurance
• 401(k) Retirement Plan with 100% match on the first 5% contributed by you
• Paid Leave
• Tuition Reimbursement and Competitive Scholarships
• Short-Term & Long-Term Disability Benefits
• Employee Assistance Program

We currently do not sponsor work related visas.

Position: Repossession Specialist

Department: Collections

Reports To: Consumer Collections Manager

FLSA: Non-Exempt Grade: 9

Summary

The Repossession Specialist provides a high degree of quality service when dealing with external members and vendors while adhering to all state and federal regulations including Keesler Federal's internal policies and procedures. This position assists in the recovery, remarketing, and liquidation of collateral loans.

Supervisory Responsibilities

None

Essential Functions

• Reviews repossession recommendations to ensure all collection efforts have been exhausted.
• Manages Repossession queue(s) to ensure adequate follow through and updates are documented.
• Assigns vehicles out for repossession and maintains relationships with agents throughout the recovery process.
• Reviews tow and impound notices to decide best course of action to minimize credit union loss.
• Submits repossession reports to management on a rotation to include weekly or monthly.
• Keeps management informed of current trends related to delinquency to include Fraud.
• Uses industry standard valuation publications to determine value of collateral.
• Maintains up-to-date inventory of repossessed collateral and current disposition status
• Reviews accounts for payments or collection arrangements, placing an account on hold or closing request.
• Reviews invoices for accuracy and forwards to management for payment.
• Processes vehicle reinstatements and/or redemptions.
• Documents system and notifies all corresponding departments once vehicle has been secured.
• Works with Credit Union's remarketing vendor and other third parties to include notices of repossession, transports, repair, condition reports, etc.
• Supplies skip tracing and other information to vendors to aid in the recovery of the collateral.
• Ensures all service level agreements are being met.
• Submits insurance claims for repair to damaged vehicles.
• Works with vendors and insurance companies to expedite payment of claims.
• Applies for refunds for Gap Insurance, Extended Warranties, and other insurance premiums on credit union owned assets.
• Effectively reviews offers from third party vendors while at auction.
• Posts all refunds for products and sale proceeds to member loans.
• Performs file maintenance of the loan after posting sale proceeds for charge off.
• Reviews member correspondence and takes the appropriate actions to include escalation to management.
• Receives and reviews repossession updates, condition reports, and oversees transportation logistics of repossessed inventory.
• Images and files all account documentation related to assigned and/or repossessed collateral.

Other Duties and Responsibilities:

• Performs other duties as required by management.
• Responsible for compliance with all Federal regulations including Bank Secrecy Act (BSA) and Office of Foreign Assets Control (OFAC)

Knowledge and Skills

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skills and/or abilities required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Education: A high school education or GED.

Experience and Other Requirements:

• One to three years of similar or related experienced preferred.
• Must possess an outgoing personality with a helpful attitude and a well-developed telephone service technique aimed at exceptional member and vendor service.
• Accuracy and attention to detail required.
• Must be dependable.
• Must always remain confidentiality.
• Must possess the ability to work well under pressure, meet deadlines, and multi-task.
• Must possess exceptional communication skills, verbal and written.

Interpersonal Skills

Courtesy, tact, and diplomacy are essential elements of the job. Work involves personal contact with others inside and/or outside the organization for purposes of giving or obtaining information, building relationships, or soliciting cooperation.

Computer Skills

• Extensive use of personal PC required.
• Must be proficient in Microsoft Word, Excel, as well as use of internet and e-mail.

Certificates, Licenses and Registrations

• Completion of CUNA's CPD Online courses as assigned and/or required.
• Successful completion of FDCPA certification within six months of hire.

Physical Demands

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

While performing the duties of this job, the employee is regularly required to sit, stand, and walk; use hands to finger, handle, feel or grasp; reach with hands and arms; and talk or hear. The employee is frequently required to kneel, crouch, or stoop. The employee is occasionally required to lift and/or move up to ten pounds. The employee is occasionally required to drive a collateral to and from collateral auctions.

Work Environment

The work environment characteristics described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. Extensive use of desktop computer and telephone is required. The noise level is that of a normal office environment.

Declaration

The human resources department retains the sole rights and discretion to amend this job description.

Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities This employer is required to notify all applicants of their rights pursuant to federal employment laws. For further information, please review the Know Your Rights notice from the Department of Labor.