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Credit Union West · 9 hours ago

Repossession Liquidation Specialist

Corporate Center, Glendale, AZ, US

Full-time

Onsite

Mid Level

3+ years exp

Credit Union West is a recognized leader in employee satisfaction, having been named a ‘Top Company to Work for in Arizona’ for multiple years. The Repossession Liquidation Specialist is responsible for managing the entire process of liquidating repossessions, ensuring compliance with policies and regulations, and maintaining accurate documentation throughout the repossession process.

BankingCreditFinancial ServicesInsurance

Responsibilities

Ensures that repossession functions and property dispositions are conducted in accordance with established policies, procedures, and applicable laws and regulations

Schedules, coordinates, and documents all post repossession activities

Ensures that repossessed collateral is closely monitored and accurately inventoried

Ensures state appropriate Notice and Rights letters are mailed to each borrower by regular and certified mail

Ensures out of state repossessions are liquidated in accordance with state regulations

Review and evaluate all repossessions for damages and initiate claim with member’s insurance carrier or CPI carrier if applicable

Responsible for initiating and following for refunds on loans with cancellable ancillary products such as mechanical breakdown coverage, GAP, Credit Life and Disability etc

Makes recommendations to the Financial Resolution Manager for necessary mechanical repairs or necessary expenses to ensure repossessions sell for best possible results

Keeps management informed of repossession activities, progress toward established objectives, and any significant problems

Accurately prepares required repossession reports and summaries

Ensures appropriate and timely letters are mailed regular and certified to all borrowers (excluding bankruptcy and discharged debt) notifying of sale and deficiency balance

Participate in reviewing and developing repossession policies and procedures

Comply with internal policy and procedures and have knowledge of bankruptcy and lien laws as they apply to the collection process

Understand and follow debt collection regulations outlined by the FDCPA, CFPB and the TCPA

Responsible for processing all Tow and Abandoned Vehicle Notices timely and accurately

Ensure all notices are properly identified and entered into the collections platform

Contact the agency where the vehicle is located to coordinate recovery efforts

Communicate with members to determine their intentions

When insurance is involved, follow up with the appropriate insurance adjuster

Ensure vehicles are timely resolved or recovered for liquidation, as applicable

Assist and provide support as needed in responding to disputes from members concerning delinquent tradelines by mail, email or phone

Respond to E-Oscar and member credit disputes, within regulated timelines

Document and monitor incoming disputes and the ability to investigate and research any disputed content to ensure validity of reporting

Assist and provide support as needed in processing total loss claims

Review and ensure insurance company’s Letter of Guaranty (LOG) is appropriately valued for vehicle in question

Assists members and staff with questions regarding GAP claims

Initiate filing GAP claims after insurance check is processed

Responsible for submitting support documents to GAP/Warranty Company within the required timeframe

Timely and accurately follow up with GAP/Warranty Company for claim payout to prevent account from affecting credit unions reportable delinquency

Processes claim and refund payments

Provide support as needed in processing claim payments received through debt protection company

Processing payments posted to insurance account to members appropriate loan for payments

Assist in filing claims for members and assist with staff inquiries

Encourage prompt repayment of delinquent accounts by utilizing all methods of contact, i.e., phone, email, mail, and text messages

Ability to ask appropriate fact-finding questions, research and analyze members profile to determine if there is opportunity for assistance or recommend if more stringent collection actions should be taken

Document all collection efforts and pertinent information from member communications and any other resources utilized

The ability to remain positive and resilient in difficult situations

Performs other duties as assigned

Qualification

Credit Union experienceGAP productsDebt collection regulationsMicrosoft Office proficiencyTime management skillsEffective communicationCritical thinkingOrganizational skills

Required

A high school diploma or G.E.D

3-5 years of experience preferably in a Credit Union or financial institution

Live the mission, vision, and core values of the credit union

Able to communicate effectively and tactfully with employees and members both orally and in writing

Demonstrate critical thinking and being self-reliant to better analyze and solve problems

Effective time management and organizational skills

Ability to multi-task and be agile to serve members and employees

Maintain working knowledge of Microsoft Office, SharePoint, and collaborative tools (Teams and Zoom)

Thorough knowledge and understanding of organization's Employee Handbook and policies

Must demonstrate a functional knowledge of the Bank Secrecy Act in addition to other Federal laws, including but not limited to U.S. Patriot Act, Office of Foreign Assets & Control, Anti-Money Laundering, Right to Financial Privacy Act, and the Bank Bribery Act