Repossession and Remarketing Specialist

Who We are:

At BCIon, a divison of Ion Bank, we pride ourselves on providing exemplary customer service and building lifetime relationships by partnering with our customers to identify and achieve their financial goals. We are passionate about our Service Standards and live by them every day.

As a result of Ion’s continued growth, the bank consistently provides robust and diverse development programs for its employees with a goal of personal expansion. Not only does Ion prioritize its internal team but additionally values the communities that the employees serve. The bank consistently encourages volunteerism from its employees to support customers and beyond. Apply now to join the Ion community!

Who we are seeking for this role:

The ideal candidate will demonstrate and encourage high standards of behavior that is consistent with Ion’s service Philosophy of Safety & Security, Accuracy, Responsiveness, Friendly, Personalized Service. Consistently demonstrates a strong commitment to Ion, willing to go “above and beyond” whenever necessary. This individual thrives in an environment that encourage teamwork and promotes inclusion by working with a variety of people.

As a Repossession and Remarketing Specialist you are responsible for:

Managing the end-to-end repossession and liquidation process for defaulted collateral. This role oversees the assignment of repossession agents, ensures regulatory compliance and consumer notification, coordinates asset condition reporting and transportation, manages remarketing activities through auction partners, and facilitates rebate recovery and charge-off completion.

Responsibilities:

Repossession Management

• Assign vehicles for repossession using Recovery Database Network (RDN), selecting appropriate agents based on geography, performance, and compliance history.
• Identify and confirm applicable fee structures for each repossession agent prior to assignment.
• Actively monitor and follow up on open and active repossession accounts to ensure timely resolution.
• Place accounts on hold when required due to bankruptcy, disputes, payment arrangements, or management direction.

Regulatory Compliance & Consumer Notifications

• Prepare and send all required customer notifications via certified mail, including:
  • Notice of repossession date
  • Location of the repossessed vehicle
  • Instructions for redeeming the collateral
• Issue secondary notices, including “Plan to Sell” or post-repossession notices, in accordance with applicable state and federal regulations.
• Maintain accurate records of all notifications to ensure compliance and audit readiness.

Condition Reports & Asset Movement

• Coordinate and obtain vehicle condition reports from repossession agents in a timely manner.
• Arrange and track transportation of repossessed vehicles to the appropriate auction or liquidation destination.
• Ensure vehicles are safeguarded and handled in accordance with company standards during transit and storage.

Remarketing & Auction Coordination

• Notify auction partners of incoming vehicles to be sold on consignment.
• Coordinate auction scheduling and ensure all required documentation is complete prior to sale.
• Provide auction partners with floor bids and pricing guidance as required.
• Monitor auction results and identify follow-up actions when vehicles do not sell as expected.

Appraisals & Valuation

• Coordinate the ordering of vehicle appraisals when required based on asset value, condition, or regulatory guidelines.
• Review and analyze appraisal data to support pricing decisions and loss mitigation strategies.

Product Cancellations & Rebate Recovery

• Cancel all rebateable products associated with repossessed vehicles, including but not limited to:
  • GAP insurance
  • Extended warranties
  • Service contracts
• Track and follow up on all rebate submissions to ensure funds are received in a timely manner.
• Apply rebates accurately to accounts to facilitate charge-off completion.

Charge-Off Support & Reporting

• Ensure all repossession, sale, and rebate activities are completed and documented to support final charge-off.
• Maintain accurate records and update internal systems with repossession status, sale proceeds, and rebate activity.
• Assist management with reporting, audits, and loss analysis related to repossession and remarketing activities.

Education and Qualifications:

• High school diploma or equivalent required; associate’s or bachelor’s degree preferred.
• 2+ years of experience in collections, repossession, asset recovery, or automotive remarketing strongly preferred.

Benefits:

• 401k and Employer Match
• Life Insurance
• Disability
• Educational Assistance
• Wellness Programs
• Employee Assistance Program
• 15 Paid Time Off Days (Will be tailored to level)
• 11 Paid Holidays
• Job Shadowing
• Volunteer Opportunities

Ion Bank is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability status, or veteran status.