Job Title: Repossession Specialist
Location: FT Onsite in Winchester, VA
Pay Rate: Open to Both C2C and W2 options
Position Type: Multiyear Contract
Job Description
To coordinate the repossession process and disposition of property (e.g., cars, boats, motorcycles, airplanes, etc.) that serves as collateral on client's loans. Serve as point of contact and subject matter expert regarding section functions, systems, policies and/or procedures. Work is performed under moderate supervision.
Responsibilities
Responsible for coordinating all aspects of the repossession process
Remain familiar with payment methods available to members (e.g., direct
remittance, recurring deposits, Western Union Quick Collect, Speed Pay, etc.)
Communicate to members, co-makers, and/or joint owner on all aspects of the repossession process
Prepare all documents required to initiate the repossession process
Contact insurance companies for payoffs; send Letters of Guarantee, monitor for payments and send titles to insurance companies
Serve as point of contact for internal departments regarding repossessions
Select repossession agents and negotiate fees for repossession
Document all member related contact in the Repossession Tracker and in other applicable systems throughout the repossession process
Process impound notices by contacting tow companies; negotiate fees, obtain vehicle condition, reason for impoundment and documents needed to recover the collateral
Monitor and ensure updates are provided by repossession agents; assist agents with skip tracing to locate collateral as needed
Recommend accounts to skip companies and/or License Plate Recognition staging if unable to locate
Recommend accounts to be returned to LCR, or Bankruptcy if unable to locate
Submit requests for required letters for redemption/reinstatement; ensure letters are accurate and mail them in accordance with State regulations to members
Assist members with reinstatement or redemption of their vehicle; contact the agent or auction to have the vehicle released to the member
Prepare documents to submit to the Department of Motor Vehicles to process a repossession title or to sell the collateral
Maintain an overall quality assurance audit rating of 90%
Determine floor price and send required documents to auction, release vehicles for sale in Auto IMS
Receive auction bids received thru various communication channels (e.g., email, telephone, fax, Auto IMS, etc.); determine if auction offer can be accepted and that the number of bids aligns with State requirements; determine if counting the bid will be required, or decline the offer and request that the vehicle be run on the next sale date
Review and process sale proceeds with accounting department to ensure funds are applied properly to the member's account
Submit requests to reduce interest rates to "0" on open book loans with a
deficiency balance
Maintain knowledge of and ensure compliance with applicable federal and state laws, rules, regulations and policies and procedures
Maintain records of repossessions and prepare reports for management
Track and reconcile expenses with general accounting incurred during the repossession process
Perform other duties as assigned
Job Qualifications
Working knowledge of applicable federal and state laws, rules and regulations (e.g., Fair Debt Collection Act, Fair Credit Reporting Act, etc.)
Experience in the collection of delinquent loans
Experience using auditing/accounting principles and methods, preferably in a financial institution
Experience in financial counseling, negotiating, and explaining decisions to members
Experience in financial transaction/processing related responsibilities
Experience working with all levels of staff, management, stakeholders, and vendors
Ability to describe and discuss mechanical conditions of automobiles
Ability to comprehend, analyze, interpret, communicate and apply government and financial industry regulations, related principles and practices, and company instructions, procedures, and policies
Ability to work independently and in a team environment
Desired - Knowledge of the remarketing industry and familiarity with the
repossession process and related regulations and procedures
Desired - Familiarity with products, services, processes, policies and
procedures
Effective member/customer service skills
Effective skill following, interpreting and applying relevant data/instructions to guidelines, procedures, practices and regulations
Effective skill assimilating information, analyzing facts, and developing logical conclusions
Effective skill performing mathematical calculations and working accurately with numbers
Effective skill exercising initiative and using good judgment to make sound decisions
Effective skill building effective relationships through rapport, trust, diplomacy and tact
Effective skill interacting tactfully and effectively in difficult situations
Effective skill to influence, negotiate and persuade to reach agreeable exchange and positive outcomes
Effective research, analytical, and problem-solving skills
Effective organizational, planning and time management skills
Effective verbal, interpersonal and written communication skills
Effective database, word processing, and spreadsheet software skills
Desired - College level courses with concentration in Accounting, Finance, Business, or related field
System One, and its subsidiaries including Joulé, ALTA IT Services, and Mountain Ltd., are leaders in delivering outsourced services and workforce solutions across North America. We help clients get work done more efficiently and economically, without compromising quality. System One not only serves as a valued partner for our clients, but we offer eligible employees health and welfare benefits coverage options including medical, dental, vision, spending accounts, life insurance, voluntary plans, as well as participation in a 401(k) plan.
System One is an Equal Opportunity Employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex (including pregnancy, childbirth, or related medical conditions), sexual orientation, gender identity, age, national origin, disability, family care or medical leave status, genetic information, veteran status, marital status, or any other characteristic protected by applicable federal, state, or local law.
M2
LI-EL1
DI-EB1
Ref: #850-Rockville (ALTA IT)
System One, and its subsidiaries including Joulé, ALTA IT Services, CM Access, TPGS, and MOUNTAIN, LTD., are leaders in delivering workforce solutions and integrated services across North America. We help clients get work done more efficiently and economically, without compromising quality. System One not only serves as a valued partner for our clients, but we offer eligible full-time employees health and welfare benefits coverage options including medical, dental, vision, spending accounts, life insurance, voluntary plans, as well as participation in a 401(k) plan.
System One is an Equal Opportunity Employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex (including pregnancy, childbirth, or related medical conditions), sexual orientation, gender identity, age, national origin, disability, family care or medical leave status, genetic information, veteran status, marital status, or any other characteristic protected by applicable federal, state, or local law.
