Collateral Recovery Specialist (Finance)
At Blue, we discover pathways to realize your possibilities. Our Collateral Recovery Specialist is responsible for maintaining and filing Lenders Protection claims on repossessed vehicles withing 90 days of the Repossession sale. Responsible for filing, monitoring and following up on claims in addition to the previous mentioned Lenders Protection. Places approved repossessions with the appropriate remarketing vendors based on criteria given and actively monitoring sale results to ensure timely sales. Monitors repossession inventory at vendor locations to verify units are being moved. Responsible for approving vendor requested fees, assisting with approval counter offering of auction sales. Posts sale proceeds from remarketing vendors. Responsible for releasing titles to remarketing vendors, mailing letters. Maintains relationships with remarketing vendor teams. Coordinates transport on voluntary surrenders. Completes local condition reports on voluntarily surrendered units. Participates in maintaining a financially sound loan portfolio. Methods to accomplish this include, but are not limited to: phone calls, collection letters. Recommends further action on accounts as deemed necessary (includes but not limited to): legal action, and recommendation for Charge-off.
Major Duties and Responsibilities
- Interacts with key financial institution staff, including senior management, to ensure efficient and effective operation of the Collateral Recovery Program to include, but not limited to, the communication of service enhancements.
- Resolves inbound and makes outbound service calls regarding collateral protection insurance coverage questions, inquires and/or problems on the status of insurance on loans made by members, the Credit Union and Insurance agents by researching, verifying, updating loan insurance information and documenting the affected accounts history file. Responds to Credit Union Staff regarding inquiries by phone, email, teams, etc. and in person, may include, but not limited to: transport, CPI claims, GAP and other dealer sold insurances, collateral values, address updates.
- Recommends further action as deemed necessary (i.e. legal action, charge off, referral to collection agency). Demonstrates judgment and discretion within the framework of all applicable regulations and policies.
- Ensure member files are kept updated and complete, and all required documents are filed (includes completion of adverse action forms).
- Monitors and balances Accounting General Ledger (GL) each month to ensure accurate accounting.
- Performs account transactions based on refunds, invoices, Trust statements, Check and ACH processing.
- Must comply with all company policies and procedures, applicable laws and regulations, including but not limited to, the Bank Secrecy Act, the Patriot Act, and the Office of Foreign Assets Control.
Knowledge and Skills
Experience
Six months to two years of similar or related experience, including time spent in preparatory positions.
Education/Certifications/Licenses
A high school degree or GED is required.
Interpersonal Skills
A significant level of trust and diplomacy is required to be an effective subject matter expert in the position. In-depth dialogues, conversations and explanations with customers, direct and indirect reports and outside vendors of a sensitive and/or highly confidential nature is a normal part of the day-to-day experience. Communications can involve motivating, influencing, educating and/or advising others on matters of significance.
FULL TIME POSITION
Starting Range: $22.15 - $24.79
Full Range: $21.10 - $31.65
ADA Requirements
Physical Requirements
Perform primarily sedentary work with limited physical exertion and occasional lifting of up to 5 lbs. Must be capable of climbing / descending stairs in emergency situation. Must be able to operate routine office equipment including telephone, copier, facsimile, and calculator. Must be able to routinely perform work on computer, sitting for an average of 6-8 hours per day, when necessary. Must be able to work extended hours whenever required or requested by management. Must be capable of regular, reliable and timely attendance.
Working Conditions
Must be able to routinely perform work indoors in climate-controlled shared work area with minimal noise.
Mental and/or Emotional Requirements
Must be able to perform job functions independently or with limited supervision and work effectively either on own or as part of a team. Must be able to read and carry out various written instructions and follow oral instructions. Must be able to speak clearly and deliver information in a logical and understandable sequence. Must be able to perform basic mathematical calculations with extreme accuracy. Must be capable of dealing calmly and professionally with numerous different personalities from diverse cultures at various levels within and outside of the organization and demonstrate highest levels of customer service and discretion when dealing with the public. Must be able to perform responsibilities with composure under the stress of deadlines / requirements for extreme accuracy and quality and/or fast pace. Must be able to effectively handle multiple, simultaneous, and changing priorities. Must be capable of exercising highest level of discretion on both internal and external confidential matters. Must be able to stay calm when being challenged by customers in a stressful manner.
For more information about being a Blue employee please check out these links for a glimpse at the culture and opportunities we strive to provide for our employees:
Working at Blue Video
At Blue Federal Credit Union, we don't just accept difference – we celebrate it! We are committed to providing an inclusive and welcoming environment for all our staff and members. Blue FCU is proud to be an equal opportunity workplace. We will consider applicants for this position without regard to any category protected by applicable federal, state or local law, including but not limited to race, color, religion, sex (including pregnancy), national origin, political affiliation, sexual orientation, marital status, disability, genetic information, age, membership in an employee organization, retaliation, parental status, military service, or other non-merit factors. All employment decisions are made based on qualifications, merit, and business need.
Education
Preferred- High School or better
Equal Opportunity Employer
This employer is required to notify all applicants of their rights pursuant to federal employment laws.
For further information, please review the Know Your Rights notice from the Department of Labor.
