Repossession Specialist
3.
1 Bensalem, PA Bensalem, PA Full-time Full-time Estimated:
$49K - $62K a year Estimated:
$49K - $62K a year 3 days ago 3 days ago 3 days ago Competitive Base Salary - PFFCU Repossession Specialist - Experience Required EXCELLENT MEDICAL, DENTAL, VISION
Benefits:
75% to 95% of premiums covered by PFFCU 401K - PFFCU contributes automatic 6% regardless of employee contribution after 1 year Location:
3333 Street Road, Bensalem, PA 19020 Note:
This is NOT a remote position Summary/Objective The Repossession Specialist is responsible for coordinating and executing repossession and liquidation of collateralized loans as needed to mitigate losses.
The Repossession Specialist will also handle the day-to-day activities for inbound calls dealing with repossessed collateral from members and 3 rd party's and other duties as assigned by the VP of Collections or the Charge off and Recovery AVP.
A Repossession Specialist must also promote the corporate values of Member Service, Teamwork, Commitment, Performance and Professional Competency.
Qualifications:
College degree preferred or alternatively appropriate years of work experience.
Strong Working knowledge of Microsoft Office including Word, Excel and Outlook.
Ability to travel to local DVM's (PA and NJ) and Auto Dealers as needed to obtain clean titles.
Demonstrated working knowledge of Credit Union policies and procedures.
Ability to learn and apply the laws applicable to the collection of delinquent accounts Ability to communicate efficiently and effectively via email, letter and telephone Major
Responsibilities:
Post-Repossession Send appropriate post-repossession letters according to state requirements (Right to Cure, Notice of Sell and Deficiency Balances).
Handle title issues with dealers and members to obtain clean sellable collateral.
Contacting DMV's to obtain title as needed Handling the cancellation of any warranties or added insurances once the Repossession has been marked for sale.
Oversee accounts during the repossession cycle and follow-up with agents providing agents with all pertinent information to recover the collateral.
Handle incoming calls related to collateral recovery issues.
Complete repossession process once notified by the agent.
Handle post-repossession documents to ensure a smooth transition from repossessions to sale of the collateral.
Handling of Insurance File insurance claims and follow up with Insurance companies on disposition of collateral as needed.
File and track insurance claim and skip claims with State National (CPI provider) File GAP claims when needed Collection Agencies Handling Manually recall loans from agencies as needed.
Receive and post payments for accounts with outside collection agencies and forward appropriate commissions.
Sort and forward collection recall accounts to General Counsel for filing statements of claim.
Prepare bi-annual reconciliation of accounts with outside collection agencies Other duties as assigned.
Collections Collect on delinquent loans, by making outbound calls and handling inbound calls.
Make arrangements for accounts to be brought current, in one or several payments.
Follows up on promises and broken promises.
Transfers funds from members' accounts, process ACH transfers and/or Credit/Debit card payments to clear or reduce the delinquency.
As needed, Skiptrace in order to locate hard to find members.
Restrict and/or remove services as needed and in accordance with the policy to reduce potential losses.
Use the Collections system effectively by ensuring that all the correct workflow and account notes are 100% accurate.
Charge-off Handling Place last calls on accounts to notify member of status and/or secure payment to reduce loss.
Review of Charged-offs loans based on Collection Department recommendations and to insure all lines have been closed and all funds moved to the DQ loans.
Prepare monthly charge-off report for the approval of the LRC and Board.
Complete the charge-off of all approved loans on system and on the Visa credit card processing system.
Coordinate and prepare monthly delinquency reporting for LRC meeting Other duties as assigned.
Create arrangements for members who are already Charged-off and/or have a Statement of Claim (SOC) filed against them.
Other Duties Please note this job description is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities that are required of the employee for this job.
Duties, responsibilities and activities may change at any time with or without notice.
Job Type:
Full-time Weekly day range:
Monday to Friday Work setting:
Office Work Location:
In person.
Estimated Salary: $20 to $28 per hour based on qualifications.
1 Bensalem, PA Bensalem, PA Full-time Full-time Estimated:
$49K - $62K a year Estimated:
$49K - $62K a year 3 days ago 3 days ago 3 days ago Competitive Base Salary - PFFCU Repossession Specialist - Experience Required EXCELLENT MEDICAL, DENTAL, VISION
Benefits:
75% to 95% of premiums covered by PFFCU 401K - PFFCU contributes automatic 6% regardless of employee contribution after 1 year Location:
3333 Street Road, Bensalem, PA 19020 Note:
This is NOT a remote position Summary/Objective The Repossession Specialist is responsible for coordinating and executing repossession and liquidation of collateralized loans as needed to mitigate losses.
The Repossession Specialist will also handle the day-to-day activities for inbound calls dealing with repossessed collateral from members and 3 rd party's and other duties as assigned by the VP of Collections or the Charge off and Recovery AVP.
A Repossession Specialist must also promote the corporate values of Member Service, Teamwork, Commitment, Performance and Professional Competency.
Qualifications:
College degree preferred or alternatively appropriate years of work experience.
Strong Working knowledge of Microsoft Office including Word, Excel and Outlook.
Ability to travel to local DVM's (PA and NJ) and Auto Dealers as needed to obtain clean titles.
Demonstrated working knowledge of Credit Union policies and procedures.
Ability to learn and apply the laws applicable to the collection of delinquent accounts Ability to communicate efficiently and effectively via email, letter and telephone Major
Responsibilities:
Post-Repossession Send appropriate post-repossession letters according to state requirements (Right to Cure, Notice of Sell and Deficiency Balances).
Handle title issues with dealers and members to obtain clean sellable collateral.
Contacting DMV's to obtain title as needed Handling the cancellation of any warranties or added insurances once the Repossession has been marked for sale.
Oversee accounts during the repossession cycle and follow-up with agents providing agents with all pertinent information to recover the collateral.
Handle incoming calls related to collateral recovery issues.
Complete repossession process once notified by the agent.
Handle post-repossession documents to ensure a smooth transition from repossessions to sale of the collateral.
Handling of Insurance File insurance claims and follow up with Insurance companies on disposition of collateral as needed.
File and track insurance claim and skip claims with State National (CPI provider) File GAP claims when needed Collection Agencies Handling Manually recall loans from agencies as needed.
Receive and post payments for accounts with outside collection agencies and forward appropriate commissions.
Sort and forward collection recall accounts to General Counsel for filing statements of claim.
Prepare bi-annual reconciliation of accounts with outside collection agencies Other duties as assigned.
Collections Collect on delinquent loans, by making outbound calls and handling inbound calls.
Make arrangements for accounts to be brought current, in one or several payments.
Follows up on promises and broken promises.
Transfers funds from members' accounts, process ACH transfers and/or Credit/Debit card payments to clear or reduce the delinquency.
As needed, Skiptrace in order to locate hard to find members.
Restrict and/or remove services as needed and in accordance with the policy to reduce potential losses.
Use the Collections system effectively by ensuring that all the correct workflow and account notes are 100% accurate.
Charge-off Handling Place last calls on accounts to notify member of status and/or secure payment to reduce loss.
Review of Charged-offs loans based on Collection Department recommendations and to insure all lines have been closed and all funds moved to the DQ loans.
Prepare monthly charge-off report for the approval of the LRC and Board.
Complete the charge-off of all approved loans on system and on the Visa credit card processing system.
Coordinate and prepare monthly delinquency reporting for LRC meeting Other duties as assigned.
Create arrangements for members who are already Charged-off and/or have a Statement of Claim (SOC) filed against them.
Other Duties Please note this job description is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities that are required of the employee for this job.
Duties, responsibilities and activities may change at any time with or without notice.
Job Type:
Full-time Weekly day range:
Monday to Friday Work setting:
Office Work Location:
In person.
Estimated Salary: $20 to $28 per hour based on qualifications.
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