Manager, Asset Recovery & Remarketing

Medallion Bank•Cottonwood Heights, UT

5d•Hybrid

About The Position

Medallion Bank finances fun by providing consumer loans for recreational vehicles, boats, and home improvement, and offering loan origination services to fintech partners. This hybrid position, based in Utah, requires regular in-office days and involves leading repossession, recovery, remarketing, and liquidation activities for delinquent and defaulted consumer loans. The role focuses on maximizing recovery proceeds, minimizing credit losses, ensuring regulatory compliance, and improving operational performance throughout the collateral recovery lifecycle, while collaborating with various internal teams and external partners.

Requirements

Excellent written, verbal, and interpersonal communication skills.
Knowledge of consumer lending, loan servicing, repossession, recovery, and remarketing operations.
Understanding of UCC Article 9 requirements, bankruptcy processes, and collateral management.
Ability to analyze collateral values, recovery performance, budgets, and operational metrics.
Experience with vendor management, contract administration, and strategic business planning.
Strong leadership, communication, relationship-building, project management, and process improvement skills.
High school diploma or equivalent required.
Bachelor’s degree in business administration, Finance, Accounting, Management, or a related field, or equivalent experience required.
Minimum of five (5) years of experience in collections, repossessions, asset recovery, or remarketing, including three (3) years of supervisory experience managing recovery operations.
Experience overseeing third-party repossession and remarketing vendors.
Proven ability to improve recovery results, reduce losses, and driver operational performance.
Strong working knowledge of repossession compliance and consumer finance regulations required.
Must successfully pass a pre-employment background check and maintain eligibility for continued employment.
Must comply with all Bank policies, procedures, and applicable regulatory requirements.
Must maintain professionalism, discretion, and confidentiality when handling customer, employee, and business information.
Must possess and maintain a valid driver’s license and acceptable driving record, if travel is required for the position.
Must be authorized to work in the United States without current or future sponsorship requirements.

Nice To Haves

Background in consumer, auto, RV, recreational, indirect, or specialty finance lending strongly preferred.

Responsibilities

Lead repossession, transportation, storage, recovery, remarketing, and liquidation activities for defaulted accounts.
Develop strategies, goals, standards, and performance metrics to maximize recoveries and reduce losses.
Monitor results, implement process improvements, and provide coaching and development to recovery personnel.
Promote a culture of compliance, accountability, and operational excellence.
Partner with SST and third-party vendors to execute recovery activities effectively.
Manage repossession and remarketing expenses, invoice processing, and vendor performance through scorecards, audits, and site visits.
Ensure compliance with applicable laws and regulations, including UCC, FDCPA, SCRA, and consumer protection requirements.
Conduct risk assessments and implement corrective actions as needed.
Oversee voluntary and involuntary repossessions from assignment through collateral disposition.
Ensure timely notices, authorizations, post-sale documentation, and chain-of-custody controls.
Monitor skip-tracing efforts, collateral location activities, vendor performance, and complex or aged repossession accounts.
Coordinate disputes, litigation, and bankruptcy-related matters.
Manage remarketing strategies, auction relationships, digital sales platforms, and dealer partnerships.
Analyze market conditions, collateral values, transportation, and reconditioning decisions to maximize net proceeds.
Monitor auction performance, recovery trends, sale outcomes, and collateral disposition timelines.
Track and report recovery metrics, including recovery rates, loss severity, liquidation timelines, and vendor performance.
Analyze trends, identify improvement opportunities, and provide forecasting, executive reporting, and performance insights.
Monitor departmental budgets and vendor expenses.
Ensure recovery activities comply with regulatory requirements, investor guidelines, and company policies.
Partner with Legal and Compliance on audits, examinations, litigation, and complaint management.
Maintain controls that mitigate operational, compliance, financial, and reputational risk while supporting fair borrower treatment.
Drive operational efficiencies through technology, automation, workflow enhancements, and recovery system improvements.
Develop and maintain policies, procedures, training materials, and vendor management practices.
Lead strategic initiatives, system implementations, and projects that improve recovery performance and operational effectiveness.