The Senior Repossession Specialist performs the critical function of assisting our members in repossession status and helping the credit union mitigate financial losses by taking necessary steps to secure collateral and moving that collateral along in the auction process. This role is primarily responsible for the repossession efforts of the auto portfolio, as well as all processes as it relates to the final liquidation of the collateral.
Responsibilities
Collection of past-due accounts to include negotiating acceptable payment arrangements
Sending Federal and State complaint repossession letters to include, right to cure, right to redeem, intent to sell, and deficiency balance letters via certified and regular mail
Responsible for all aspects of the auto loan as it relates to the repossession process, to include the repossession remarketing process. Which includes moving vehicles to auction, setting the floor price for the auction, title work, processing invoices, and auction proceeds
Acts as a liaison for vendors, repo agents, and auctions for the repo team
Ensure compliance with all federal and state regulations as it pertains to collections, loss mitigation and default processing
Filing repo, loss, skip, and damage claims with insurance provider
Performs other related duties as assigned
Remains cognizant of and adheres to NWFCU policies and procedures as well as regulations pertaining to the Bank Secrecy Act (BSA)
Qualifications
Required
High school diploma or equivalent
Minimum 3 years of Collections experience, specifically in full cycle repossessions and remarketing processes
Working knowledge of FDCPA(Fair Debt Collections Practices Act) and TCPA (Telephone Consumer Protection Act)
Ability to use standard office equipment and systems, working knowledge of Microsoft Office products, especially Word and Excel
Effective oral and written communication skills
Ability to review and analyze or interpret data and documentation and to make decisions regarding subsequent actions
Accuracy and detail orientation
Effective negotiation skills
Ability to work effectively on-site in our Herndon, VA headquarters and equally effectively remotely
Ability to work Monday - Friday, 8:00am - 4:30pm
Preferred
Knowledge of repossession title work
Experience working with repossession agents and remarketing vendors
Working knowledge of force placed insurance
Working knowledge of impounds, insurance, and total loss claims
EEO Notice
Northwest Federal Credit Union is an Equal Opportunity Employer and will consider all qualified applicants without regard to race, color, age, religion, sex, sexual orientation, gender identity, genetic information, national origin, disability, protected veteran status or any other classification protected by law.
NWFCU complies with federal and state disability laws and makes reasonable accommodations for applicants and employees with disabilities. If reasonable accommodation is needed to participate in the job application or interview process, to perform essential job functions, and/or to receive other benefits and privileges of employment, please contact the Human Resources Department at 703-709-8900 or HRDepartment@nwfcu.org.
