GENERAL FUNCTION: Under direct supervision,
processes orders for voluntary and involuntary consumer loan
repossession assignments, including requests for repossession
cancellations and redemptions. Collects, reviews, monitors and
documents accounts involving: Repossessions in accordance with
departmental and legal guidelines. Repossesses consumer loan
collateral to encourage successful repossession assignments and
cost reduction, whereby following state/federal laws to protect the
bank from litigation. Manages accounts that range in 0 days
delinquent through recovery, and bankrupt account statuses,
utilizing multiple systems. Partner with loss mitigation, recovery,
bankruptcy, legal, and remarketing as necessary. Position has
direct impact to bank losses in excess of 150 MM per
DUTIES & RESPONSIBILITIES:
SEE ACTUAL JOB DESCRIPTION FOR ALL DUTIES &
* Maintains and manages individual collection accounts, including:
recording all efforts via the collection system insuring that all
accounts are worked and noted accurately.
* Review daily reports to identify and monitor job performance and
* Submits voluntary and involuntary repossession assignments using
multiple systems to encourage successful repossession assignments,
and cost reduction, whereby following bank policies and
state/federal laws to protect the bank from
* Responsible for establishing strong working relationships with
the repossession agents, and business partners.
* Monitors and reviews the status of accounts placed with the
repossession agency. Posts comments and ''Notices of Repossession''
in a timely manner into collection system to ensure the bank is
meeting state statue requirements and mitigating financial
* Utilize skip tracing tools to locate customers successfully, and
strategic use of collection tools to reduce or prevent losses.
Provide all new information to repossession agency and if internal
source provided new information act as the conduit, and immediately
forward that new information to the repossession
* Contact references and other resources to locate both our
customer and the collateral.
* Monitor each repossessed account to ensure receipt of the
condition reports, and update the collection system accordingly.
Work with appropriate repossession company to obtain any missing
* Coordinate consumer loan collateral transportation to the
auctions, by providing necessary documentation to the repossession
agency and auction, and by working with the remarketing department
on transportation for disposal of collateral.
* Coordinate and process requests for voluntary repossessions at
financial centers, including contacting the financial center to
inform the request is in process. If applicable educate on the
information necessary to efficiently process any future
* Accurately process and document all requests for repossession
cancellations and redemptions.
* Ensure that requests for non-contractual repossession fees and/or
additional fee amounts are submitted to management or the
individual responsible for paying invoices for
* Utilize tools available to ensure lien position to protect the
bank from wrongful repossession.
* Process and document the necessary certified/notarized mail
correspondence timely to ensure the bank is in compliance with
state statutes. Including, recording of any return/unclaimed
* Conduct research including but not limited to: review of credit
bureau reports, statements, contracts, credit applications, lien
verifications, customer files and payment copies.
* Make some strategic actionable decisions related to receipt of
information via written or verbal mediums.
* Utilize cross sell of alternative loan products to reduce losses
and promote continued business when applicable.
SUPERVISORY RESPONSIBILITIES: None