Repossession Specialist I

Location
Herndon, VA
Posted
Jul 16, 2021
Closes
Jul 28, 2021
Ref
2021-1742
Function
Finance
Hours
Full Time
Overview

For more than 70 years, Northwest Federal Credit Union has provided valuable financial products and services for our members. Northwest offers employees a comprehensive benefits program including: medical and dental plans, paid time off, a generous 401k match, student loan assistance, parental leave, and the opportunity to grow professionally through a wide range of job-based, classroom and online training resources. Northwest Federal Credit Union has been recognized, for the second consecutive year, as a 2021 Top Workplace by The Washington Post and we believe that our success is built upon the excellence and achievement of our employees. Together, we serve and inspire to transform lives.

This position is primarily responsible for the asset recovery on all delinquent direct and indirect auto loans and is also responsible for the collateral at the time the decision to repossess has been rendered.

Responsibilities

  • Responsible for the total maintenance of the repossessed vehicles to include but not limited to: - Skip tracing - Payment processing - Charge offs - Account reconciliation
  • Responsible for assigning all repossessed inventory to recovery agents using the appropriate recovery database programs as well as AutoIMS
  • Act as the primary liaison with the contracted repossession companies, towing agencies and repair shops
  • Send appropriate right to cure letters as required by law
  • Communicate with recovery agents in an ongoing attempt to secure collateral
  • Performs Skip Tracing, utilizing various methods in order to help facilitate the location of the collateral
  • Responsible for filing all skip claims with the insurance vendor Allied Solutions
  • Responsible for maintaining all credit reporting updates on repossessed vehicles
  • Responsible for maintaining all procedures with respect to the Repossession Specialist I position.
  • Ability to demonstrate a high degree of professionalism and trust in dealing with confidential and sensitive matters.
  • Perform other 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

  • High school diploma or equivalent
  • 1-2 years of Collections or Collateral Recovery experience
  • Maintain a working knowledge of FDCPA (Fair Debt Collection Practices Act)
  • Working knowledge in Microsoft Office Suites (Word, Outlook and Excel)


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.

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