Financial Assistance Specialist III-Collateral

ARISE FEDERAL CREDIT UNION•Canton, MA

4d•$33 - $35•Hybrid

About The Position

As a Financial Assistance Specialist III – Collateral, you’ll manage the post-repossession process from repossession through final disposition, with a focus on moving vehicles efficiently while maximizing recovery and minimizing losses. You’ll oversee collateral documentation, titling, valuation, repairs, auction activity, and vendor coordination. This role combines collateral expertise, financial analysis, vendor management, and sound judgment to make timely remarketing decisions. You’ll work closely with repossession and auction vendors, Financial Assistance, Loan Servicing, Lending, Legal, and other internal partners to ensure collateral is processed accurately, efficiently, and in compliance with applicable requirements.

Requirements

2+ years of experience in auto finance, collections, repossession, remarketing, loan servicing, collateral management, auction operations, or a related financial services environment preferred.
Working knowledge of vehicle valuation and remarketing practices, including condition reports, auction values, floor pricing, repair decisions, and sale proceeds.
Strong analytical skills with the ability to evaluate vehicle condition, market values, expenses, historical sales, and recovery potential.
Strong organizational skills and attention to detail with the ability to independently manage a high volume of vehicles, documentation, deadlines, and vendor activity.
Ability to exercise sound judgment and make timely decisions within established authority levels.
Strong written and verbal communication skills with the ability to work effectively with members, vendors, auction partners, dealers, and internal teams.
Proficiency with Microsoft Office, including Excel, Word, and Outlook, and the ability to learn financial, loan servicing, auction, title, and vendor systems.
Ability to identify issues, resolve routine problems, escalate exceptions appropriately, and manage multiple priorities in a fast-paced environment.

Responsibilities

Manage assigned repossessed vehicles from repossession through auction sale and final disposition, focusing on minimizing days to sale and maximizing net recovery.
Prepare, review, and issue Right to Redeem and other required post-repossession notices within established timelines.
Manage vehicle title activities, including obtaining, reviewing, tracking, and resolving title documentation.
Review vehicle condition reports, valuations, market information, and historical auction results to support remarketing decisions.
Establish and approve auction floor prices based on vehicle condition, market value, loan exposure, expenses, and anticipated recovery.
Review IF Bids and other auction offers and make recommendations or decisions within established authority.
Evaluate recommended repairs and reconditioning expenses based on expected impact to sale proceeds and marketability.
Monitor repossession inventory and aging and proactively address title, transportation, repair, auction, or other delays.
Track auction results, sale proceeds, fees, repair costs, transportation expenses, and other disposition-related activity.
Maintain accurate collateral records, approvals, titles, notices, auction documentation, correspondence, and vendor activity.
Monitor vendor performance and identify opportunities to improve turnaround times, recovery results, and operational efficiency.
Prepare and maintain reporting related to inventory, days to sale, auction performance, recovery proceeds, expenses, and title status.
Maintain current knowledge of repossession, collateral liquidation, vehicle titling, auction practices, and applicable regulatory requirements.