Collections Team Member II – Repossession
Digital Federal Credit Union
full-time
Posted on:
Location Type: Hybrid
Location: Marlboro • Massachusetts • United States
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Salary
💰 $22 - $24 per hour
About the role
- Under the general direction of the Collections Team Leader, the Repossession Coordinator is responsible for the day-to day administration of the repossession and remarketing process
- Adhere to collection and repossession procedures to ensure they are carried out according to established guidelines
- Review accounts submitted for repossession (voluntary and involuntary) and determine whether an approval or denial should be rendered in accordance with the business rules
- Attempt to contact members prior to assigning an account for repossession to attempt to cure the delinquency and mitigate losses for the credit union
- Assigns repossessions to the vendors timely
- Document collections package with appropriate notes regarding repossession decision, condition reports, status and value of the collateral
- Make recommendations to the Repossesson Specialist and Team Leader whether vehicles should be repossessed from impound or storage or referred for replevin
- Build professional working relationships with vendors and review their performance
- Accurately maintain daily, weekly, and monthly reports pertaining to repossession assignments
- Utilize sound judgment to determine outstanding repossession assignments, repossession claims, submit for skip claims etc.
- Process redemptions per the established procedures and guidelines
- Assist with training new and existing staff in skip tracing, repossession and recovery processes
- Stay current on repossession laws and regulations
- Makes recommendations for improvement of departmental policies, procedures, and internal controls
- Review and/or approve bids for sale of collateral, if necessary
- Audits receipt of sales proceeds from vendors after sale of collateral
- Review vendor invoices for accuracy and reasonableness and prepare them for management approval
- Make collection calls to assist with departmental goals, as and when necessary
- Perform other job related duties assigned by Manager(s)
Requirements
- Previous consumer collections and/or skip tracing experience preferred
- Previous experience in a financial institution or credit union a plus
- Excellent written and verbal communication skills
- Ability to perform multiple tasks and meet critical deadlines while maintaining accuracy and quality
- Well organized, effective time management, prioritize and manage workload for optimum efficiency
- Strong command of Microsoft Office, particularly with Microsoft Excel
Benefits
- Health insurance
- 401(k) matching
- Flexible working hours
- Paid time off
Applicant Tracking System Keywords
Tip: use these terms in your resume and cover letter to boost ATS matches.
Hard skills
repossession procedurescollections administrationskip tracingreportingdecision makingvendor managementpolicy improvementauditingfinancial analysis
Soft skills
communication skillstime managementorganizational skillsjudgmentrelationship buildingproblem solvingattention to detailmultitaskingtraining