Northwest Federal Credit Union
Repossession Specialist
Northwest Federal Credit Union, Herndon, Virginia, United States, 22070
Overview
The Repossession Specialist performs the critical function of helping members avoid repossession in addition to coordinating all aspects of repossession and/or judgement processes. They help the credit union mitigate financial loss by regularly assessing the performance of loans, assigning repossessions and effectively communicating with members in need.Responsibilities
Mitigate charge off to reduce loan loss provisions and support positive net incomeAssist in managing external vendor relationshipsPrepares and recommends all accounts eligible for repossession and submits for assignmentResponsible for all service contract refunds to include but not limited to communication, payment processing and reportingServes as a primary point of contact for insurance, GAP, and dealerships with regards to all contracts and claimsEnsure compliance with all federal and state regulations as it pertains to collections, loss mitigation and default processingResponsible for all GAP claim reconciliation with accountingMaintains and distributes external and internal faxes and mail to the rest of the departmentSends appropriate letters as required by lawResponsible for uploading all documentation for accounts in processCommunicate with Loss Mitigation Specialists regarding paymentsMaintain a working knowledge of FDCPA (Fair Debt Collection Practices Act)Perform other duties as assignedRemains cognizant of and adheres to NWFCU policies and procedures, and regulations pertaining to the Bank Secrecy Act (BSA)Qualifications
RequiredHigh school diploma or equivalentMinimum 1 year of Collections experience; financial institution preferredAbility to work independently with minimal direct management supervisionDemonstrated initiative and resourcefulness as a self-starterAbility to use standard office equipment and systems, working knowledge of Microsoft Office products, especially Word and ExcelEffective oral and written communication skillsAccuracy and detail-orientedAbility to interact effectively with all levels of the organization and with membersAbility to maintain confidentialityWorking knowledge of FDCPA (Fair Debt Collection Practices Act) and TCPA (Telephone Consumer Protection Act)PreferredLoss Mitigation and/or Repossession experienceNegotiation skillsAdditional Compensation
Northwest Federal offers a comprehensive and inclusive benefits program, which includes medical, dental and vision plans for you and your family, 4 weeks paid vacation, 12 paid holidays, 24 hours of paid volunteer time, parental leave, company paid disability and life insurance, and a generous 401(k) plan with up to 7% employer match.EEO Notice
Northwest Federal Credit Union is an Equal Opportunity Employer and will consider all qualified applicants without regard to race, color, age, religion, sex, sexual orientation, gender identity, genetic information, national origin, disability, protected veteran status or any other classification protected by law.NWFCU complies with federal and state disability laws and makes reasonable accommodations for applicants and employees with disabilities. If reasonable accommodation is needed to participate in the job application or interview process, to perform essential job functions, and/or to receive other benefits and privileges of employment, please contact the Human Resources Department at 703-709-8900 or HRDepartment@nwfcu.org.
#J-18808-Ljbffr
The Repossession Specialist performs the critical function of helping members avoid repossession in addition to coordinating all aspects of repossession and/or judgement processes. They help the credit union mitigate financial loss by regularly assessing the performance of loans, assigning repossessions and effectively communicating with members in need.Responsibilities
Mitigate charge off to reduce loan loss provisions and support positive net incomeAssist in managing external vendor relationshipsPrepares and recommends all accounts eligible for repossession and submits for assignmentResponsible for all service contract refunds to include but not limited to communication, payment processing and reportingServes as a primary point of contact for insurance, GAP, and dealerships with regards to all contracts and claimsEnsure compliance with all federal and state regulations as it pertains to collections, loss mitigation and default processingResponsible for all GAP claim reconciliation with accountingMaintains and distributes external and internal faxes and mail to the rest of the departmentSends appropriate letters as required by lawResponsible for uploading all documentation for accounts in processCommunicate with Loss Mitigation Specialists regarding paymentsMaintain a working knowledge of FDCPA (Fair Debt Collection Practices Act)Perform other duties as assignedRemains cognizant of and adheres to NWFCU policies and procedures, and regulations pertaining to the Bank Secrecy Act (BSA)Qualifications
RequiredHigh school diploma or equivalentMinimum 1 year of Collections experience; financial institution preferredAbility to work independently with minimal direct management supervisionDemonstrated initiative and resourcefulness as a self-starterAbility to use standard office equipment and systems, working knowledge of Microsoft Office products, especially Word and ExcelEffective oral and written communication skillsAccuracy and detail-orientedAbility to interact effectively with all levels of the organization and with membersAbility to maintain confidentialityWorking knowledge of FDCPA (Fair Debt Collection Practices Act) and TCPA (Telephone Consumer Protection Act)PreferredLoss Mitigation and/or Repossession experienceNegotiation skillsAdditional Compensation
Northwest Federal offers a comprehensive and inclusive benefits program, which includes medical, dental and vision plans for you and your family, 4 weeks paid vacation, 12 paid holidays, 24 hours of paid volunteer time, parental leave, company paid disability and life insurance, and a generous 401(k) plan with up to 7% employer match.EEO Notice
Northwest Federal Credit Union is an Equal Opportunity Employer and will consider all qualified applicants without regard to race, color, age, religion, sex, sexual orientation, gender identity, genetic information, national origin, disability, protected veteran status or any other classification protected by law.NWFCU complies with federal and state disability laws and makes reasonable accommodations for applicants and employees with disabilities. If reasonable accommodation is needed to participate in the job application or interview process, to perform essential job functions, and/or to receive other benefits and privileges of employment, please contact the Human Resources Department at 703-709-8900 or HRDepartment@nwfcu.org.
#J-18808-Ljbffr