THE REPOSSESSION ADMINISTRATOR IS RESPONSIBLE FOR MANAGING THE COLLATERAL REPOSSESSION PROCESS FOR THE CREDIT UNION BEGINNING WITH ASSIGNING AND CANCELLING VEHICLES FOR REPOSSESSION TO THE DISPOSITION AND SALE OF THE COLLATERAL. ADDITIONALLY, THIS ROLE IS RESPONSIBLE FOR PURSUING PRODUCT REFUNDS FROM DEALERS, PURSUING IMPOUNDED COLLATERAL, INITIATING, AND PURSUING SKIP CLAIMS AND LEGAL ACTION AGAINST BORROWERS WHEN OUR COLLATERAL IS NOT RECOVERED.

• Approves and assigns vehicles for repossession. Ensures proper policies, procedures, risk mitigation activities, and operating controls are followed. Reports gaps in policies, procedures, and operating controls to leadership to ensure member impact and risk is mitigated. (15%)

• Negotiates repayment of severely delinquent member accounts where the vehicle has been assigned for repossession. This role will also negotiate redemption of repossessed units. (15%)

• Manages the product refund process for vehicles not located, repossessed, sold at auction, and total loss units. (15%)

• Timely and accurately cancels repossession assignment with recovery agents following satisfactory negotiation of payment or payment arrangement to cancel the assignment or redeem their vehicle. (10%)

• Timely reassigns repossession orders to alternative agents once initial attempts to secure collateral have been unsuccessful. In addition, requests legal action including demand letters and breach of contract when collateral has not been recovered. (10%)

• Proficient with the Collateral Protection Insurance (CPI) skip and damage claim processes and when to submit a claim to reduce potential losses on vehicles not located by a repossession agency. (10%)

• Responsible for evaluating condition reports from the repossession agencies and auction houses to determine the general condition of the collateral, determine what repairs are reasonable and establish a fair market value for the sales price of the collateral. (10%)

• Assures credit union lien is perfected and orders repossession titles prior to the collateral being sold at the auction houses. (5%)

• Liaison between the credit union and vendors including recovery agencies, insurance center, indirect dealerships, auction houses, and attorneys. (5%)

• Responsible for report preparation and management of repossession reporting which include the repossession sale report, repossession on-hand report, vendor performance reports, and product refund report. (5%)

Required Skills

• A high school diploma or equivalent or ten (10) years equivalent work experience with at least 2 years of experience in collections or equivalent combination of education and experience, required.
• Experience in an office environment, preferably utilizing clerical skills, required.
• Experience in a financial institution especially in a lending or collection department preferred.
• Customer service experience required.
• Ability work professionally with disgruntled borrowers and effectively protect the credit union’s assets while maintaining an extraordinary level of member service.
• Ability to be resourceful to include finding agencies to skip-trace missing members and collateral.

Required Experience

• A high school diploma or equivalent or ten (10) years equivalent work experience with at least 2 years of experience in collections or equivalent combination of education and experience, required.
• Experience in an office environment, preferably utilizing clerical skills, required.
• Experience in a financial institution especially in a lending or collection department preferred.
• Customer service experience required.
• Ability work professionally with disgruntled borrowers and effectively protect the credit union’s assets while maintaining an extraordinary level of member service.
• Ability to be resourceful to include finding agencies to skip-trace missing members and collateral.