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

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.

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)

Skills

• Excellent written and verbal communication skills
• Ability to perform multiple tasks and meet critical deadlines while maintaining accuracy and quality
• Well organized, effective time management, prioritize and manage workload for optimum efficiency
• Strong command of Microsoft Office, particularly with Microsoft Excel
• Previous consumer collections and/or skip tracing experience
• Previous experience in a financial institution or credit union

Company Overview