Senior Repossession Specialist

If you are motivated and believe in the credit union philosophy of People Helping People join our team!

The Senior Repossession Specialist is responsible for executing the operational activities within the automobile repossession cycle. This position processes and manages assigned repossession cases ensuring the timely and compliant recovery transportation and disposition of secured collateral. The Senior Specialist acts as the primary liaison with repossession agents and remarketing vendors maintains detailed case documentation and ensures strict adherence to all internal policies and external federal state and local regulations. This role requires attention to detail strong communication skills and a commitment to compliance and is accountable for mitigating legal and financial risk while driving maximum recovery within a high-volume deadline-driven and highly regulated environment.

Essential Responsibilities:

• (30%) Case Management and Execution: Process track and manage a high volume of assigned repossession cases from initiation through asset disposition. This includes accurately completing required paperwork issuing assignments to agents and monitoring case milestones and timelines to ensure rapid and compliant collateral recovery.
• (25%) Regulatory & Policy Compliance: Adhere strictly to all internal policies and external regulations including state-specific repossession laws FDCPA SCRA and Bankruptcy Code. Ensure all actions are compliant to mitigate risk and avoid potential fines or legal issues.
• (15%) Financial Processing: Calculate reconcile and process all repossession related figures including payoffs and/or reinstatements/redemptions. Assist with the reconciliation of all case-related expenses and proceeds (e.g. invoices repair costs sale proceeds). Prepare final deficiency notices and process charge-off documentation accurately and promptly.
• (15%) Vendor Communication and Coordination: Serve as the primary daily contact for repossession and remarketing vendors. Coordinate logistics for vehicle recovery storage transport and sale. Review and approve agent invoicing and monitor vendor performance against contractual service level agreements (SLAs).
• (10%) Documentation and System Integrity: Maintain current and accurate records of all repossession activities communication logs and financial transactions within the servicing system (e.g. RDN Default Manager ALS). Ensure proper lien perfection documentation is secured for all recovered assets.
• (5%) Issue Escalation and Collaboration: Identify and escalate complex cases contested matters or potential lien/title risks to the Repossession Manager or Legal Department and coordinate efforts to provide responsive and accurate information to resolve disputes or litigation.

Required Education & Experience (Knowledge Skills & Abilities):

• Bachelors degree in business administration finance or a related field required.
• Minimum 5 direct years of experience in financial operations or compliance administration role specifically dealing with collections default management or auto repossession processing preferably within a consumer lending environment.
• Analytical detail-oriented and organizational skills with the ability to accurately review complex legal and loan documentation. Proven ability to manage a high-volume portfolio with strict adherence to critical deadlines.
• Working knowledge of the repossession lifecycle creditors rights and relevant compliance requirements including state repossession law(s) and other federal and state consumer financial protection laws relevant to Loss Mitigation and Loan Servicing including but not limited to U.S. Bankruptcy Code FDCPA SCRA and applicable CFPB regulations.
• Proficient computer skills including experience with Microsoft applications core servicing and collections/default management software reporting tools and skilled in tracking data and reconciling payments.
• Proven ability to manage financial and operational Key Performance Indicators (KPIs) such as repossession recovery ratios average days to recovery redemption rate and vendor performance adherence.
• Experienced written and verbal communication skills with proven ability to draft clear compliant documents and communicate effectively with external vendors and members.

Preferred Education & Experience (Knowledge Skills & Abilities):

• Banking/Credit Union Loan Servicing Loss Mitigation related Industry Certifications.
• Direct experience using systems for document management (e.g. OnBase) default management (e.g. Default Manager RDN) or core servicing (e.g. ALS).
• Prior experience with legal financial and procedural knowledge required to minimize risk in this specialized area.

Job Environment & Physical Requirements:

• Work is performed in an office setting hybrid or remote.
• Internal candidates meeting all requirements will be given preference.
• Other duties as assigned by leadership

SECU provides equal employment opportunity to all qualified persons regardless of race color religion age sex sexual orientation gender identity national origin genetic information disability veteran status or other classification protected by law.

Disclaimer

State Employees Credit Union reserves the right to fill this role at a higher/lower level based on business need.