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Job Summary:  Review and attempt to resolve serious delinquency involving collateralized accounts in an effort to avoid repossession. Upon non-resolution, generate notification of possible account actions for nonpayment. Responsible for all repossession, pre-auction, auction, post-auction activities/processes, vendor management, collateral recovery including repossession assignment, remarketing/sales/auctions, and preparation of warranty and insurance refunds when available.

All job positions at 7 17 Credit Union may be assigned further duties with or without notice, verbally or in writing.  Essential duties and responsibilities include the following. 

Primary Duties:

1. Research delinquency of collateralized accounts that are at or exceed classification of repossession review status: Delinquency at or exceeding 45 days.
2. Generate and track pre-repossession warning notifications and thorough documentation of the accounts within the collection package.
3. Review balance, collateral, and collateral condition, when available, to determine approval or denial for repossession assignment.
4. Assign vehicles to repossession agents.
5. Compile and process updates from repossession agent at time of repossession to assist Processors with right to redeem generation.
6. Review collateral condition reports and other information after repossession to determine floor bids for sale/auction.
7. Evaluate sale/auction bids for acceptance, counteroffer, denial, and possible rerun or reassignment of collateral.
8. Manage all vendors in the repossession process; oversee claims and cancellations of any add-on products (service/warranty/GAP insurance/insurance, etc.).
9. Assist the member in the resolution, redemption, and release of repossessed collateral that is being paid with the intent of redemption.
10. Evaluate and make recommendations to the department managers regarding the effectiveness of third party (repossession agents, auctions, etc.) efforts to minimize losses to the Credit Union.

Secondary Duties:

1. Continually examine accounts to determine if a skip assignment is available due to having active CPI insurance or other loan coverage.
2. Evaluate direct and indirect loans for fraudulent activities and make recommendations to the department managers regarding dealers who should be placed on a watch list.
3. Monitor and maintain account updates with the Starter Interrupt/GPS website.
4. Perform loss mitigation to protect asset values and to minimize net losses.
5. Work with outside agencies in relation to Impound, Police or Government seizure of collateral to protect Credit Union interests.
6. Assist with accurate repossession/redemption coding in relation to credit reporting.
7. Alert management to potential risk exposure due to titles in suspense, unperfected liens, etc.
8. Attend repossession auctions when necessary to attempt to expedite acceptance or counter-offers to proposed bids.
9. Assist management with necessary reporting duties
10. Participate in regulatory examinations and audits.

Confidentiality Requirements: Must keep members' transactions and other Credit Union business in strictest confidence.

Travel Demands: Must be able to travel locally and regionally when necessary; nationally on rare occasions.

Prerequisite Education: 

High school diploma or equivalent

Prerequisite Experience:

1. Four or more years in a collector’s position* within the last 7 years.        

•  Defined as four years in a debt collection position(s) where the majority of one’s job included collecting delinquent consumer, mortgage and/or commercial accounts.

2. Previous loan and share account research and investigation experience.

3.  Previous repossession assignment, bidding, and auctions are preferred.

Other Prerequisite Requirements of the position: 

1. Excellent interpersonal skills with members by telephone.
2. Speed and accuracy to meet deadlines in a high-paced environment.
3. Ability to manage multiple projects and deadlines simultaneously while maintaining a high level of member service.
4. Strong verbal and written communication skills.
5. Ability to read and interpret loan history.
6. General understanding of loan contracts and default provisions.
7. Experience with Excel and Word preferred.

Required knowledge, skills and abilities once in the job:

1.  Customer service attitude and skills to include:

     Team player attitude, commitment, patience, enthusiasm, creativity,  listening, comprehension, initiative, cooperation, attention to detail, resourcefulness.

2.  Professionalism to include:

     Confidence, good judgment, appropriate demeanor and appearance, ability to interact with employees and members.

3.  Skills to include:

      Problem solving, decision making, time management, interpersonal communications, presentation and organization.

4.  Repossession process from beginning to end.

Certifications, licenses required once in the job:  None

Physical, Mental or Visual 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.