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 inclu... more details
Overview 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.
