Manager, Asset Recovery and Disposition

Current • Baltimore, MD

15h • $31 - $46 • Onsite

About The Position

Manages the day-to-day responsibilities and activities associated with the recovery and disposition of MECU collateral . With minimal supervision, works to mitigate losses to the Credit Union specializing in the areas of recovery, repossession and REO processes. Acts as liaison between agent(s) and credit union. Negotiates release prices for impounded or abandoned vehicles. Works autonomously and directly with multiple repossession agents to move and prepare vehicles for sale at appropriate auctions. Attends auctions to ensure due diligence is being performed and appropriate bids and value are assigned. Performs dealer analysis to determine any trends in delinquency rates and verifies after-market add-ons, such as warranties, to ensure their validity. Files and tracks insurance claims for payment. Provide representative support for repossessions and REO sales. Prepare monthly reports on the status of our repossession sales and expenses. Provide recommendations for dealer closures due to losses or service issues. Provide support for lending training and provides trends and recommendations. Ensure compliance with all vehicle sales regulations and notices. Coordinates and orders inspections on REO properties and ensures that all properties are secure. Collaborates with VP for valuation, disposition and repairs and/or maintenance needs of properties. Works with third party maintenance firms to ensure that REO properties are properly maintained (yard maintenance, winterization, etc.). Consults with VP to determine next steps regarding property sales. Prepare monthly reports on the status of our REO sales and expenses. Manages investor buyers for REO properties to ensure we are getting appropriate bids.

Requirements

• Minimum 5 years of collections or lending experience
• Must be familiar with the vehicle auction process and the recovery of insurance proceeds
• Must be familiar with real estate sales and servicing
• Must possess a strong understanding of local / state laws and regulations governing the repossession and sale of collateral.
• Must possess excellent negotiation skills.
• Must have strong verbal and written communication skills.
• Must have strong analytical abilities and problem solving skills.
• Proficient in MS Office
• Must be detail-oriented and able to multi-task.

Nice To Haves

• Associates degree

Responsibilities

• Manage the sale and analysis of repossessed vehicles
• Manage the sale of foreclosed properties
• Manage vendor relationships related to repossessions and REO sales
• Manage the retrieval of vehicles from impound or third party
• File and track insurance payments
• File refunds for warranties and add on products
• Special Collections or Lending related projects may be assigned

Benefits

• Medical, Dental, and Vision Coverage: Plans are available for both employees and their families to ensure comprehensive health coverage.
• 401(k) Plan with Employer Match: Secure your financial future with our competitive 401(k) plan, including an employer match to help you save more for retirement.
• Company-Paid Insurance: We provide company-paid short-term disability, long-term disability, and life insurance to give you peace of mind.
• Tuition Assistance: Continue your education and professional development with our tuition assistance program.
• Employee Assistance Program (EAP): Access confidential support for personal and professional challenges through our EAP.
• Parking Discounts: Enjoy discounted parking to make commuting easier.
• Long-Term Care Insurance: Prepare for the future with long-term care coverage options.
• Time Off: Take advantage of annual, sick leave, sick and safe leave to recharge and maintain a healthy work-life balance.

What This Job Offers

• Job Type: Full-time
• Career Level: Manager
• Education Level: High school or GED