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Digital Federal Credit Union · 1 week ago

Collections Team Member II - Repossession, Hybrid Marlboro MA, Full-Time

xxx, Massachusetts, United States

Full-time

Hybrid

New Grad, Entry Level

$21.50/hr - $24.10/hr

Digital Federal Credit Union is the largest credit union headquartered in New England, serving over one million members. The Collections Team Member II is responsible for the day-to-day administration of the repossession and remarketing process, focusing on resolving member delinquency and minimizing losses for the credit union.

BankingFinanceFinancial Services

Comp. & Benefits

No H1B

Responsibilities

Adhere to collection and repossession procedures to ensure they are carried out according to established guidelines

Review accounts submitted for repossession (voluntary and involuntary) and determine whether an approval or denial should be rendered in accordance with the business rules

Attempt to contact members prior to assigning an account for repossession to attempt to cure the delinquency and mitigate losses for the credit union

Assigns repossessions to the vendors timely

Document collections package with appropriate notes regarding repossession decision, condition reports, status and value of the collateral

Make recommendations to the Repossesson Specialist and Team Leader whether vehicles should be repossessed from impound or storage or referred for replevin

Build professional working relationships with vendors and review their performance

Accurately maintain daily, weekly, and monthly reports pertaining to repossession assignments

Utilize sound judgment to determine outstanding repossession assignments, repossession claims, submit for skip claims etc

Process redemptions per the established procedures and guidelines

Assist with training new and existing staff in skip tracing, repossession and recovery processes

Stay current on repossession laws and regulations

Makes recommendations for improvement of departmental policies, procedures, and internal controls

Review and/or approve bids for sale of collateral, if necessary

Audits receipt of sales proceeds from vendors after sale of collateral

Review vendor invoices for accuracy and reasonableness and prepare them for management approval

Make collection calls to assist with departmental goals, as and when necessary

Perform other job related duties assigned by Manager(s)

Qualification

Consumer collections experienceSkip tracing experienceMicrosoft ExcelFinancial institution experienceWritten communication skillsVerbal communication skillsTime managementOrganizational skills