Repossession and Remarketing Specialist

Ion Bank•Cheshire, CT

About The Position

At BCIon, a division of Ion Bank, we pride ourselves on providing exemplary customer service and building lifetime relationships by partnering with our customers to identify and achieve their financial goals. We are passionate about our Service Standards and live by them every day. As a result of Ion’s continued growth, the bank consistently provides robust and diverse development programs for its employees with a goal of personal expansion. Not only does Ion prioritize its internal team but additionally values the communities that the employees serve. The bank consistently encourages volunteerism from its employees to support customers and beyond. Apply now to join the Ion community! The ideal candidate will demonstrate and encourage high standards of behavior that is consistent with Ion’s service Philosophy of Safety & Security, Accuracy, Responsiveness, Friendly, Personalized Service. Consistently demonstrates a strong commitment to Ion, willing to go “above and beyond” whenever necessary. This individual thrives in an environment that encourage teamwork and promotes inclusion by working with a variety of people. As a Repossession and Remarketing Specialist you are responsible for: Managing the end-to-end repossession and liquidation process for defaulted collateral. This role oversees the assignment of repossession agents, ensures regulatory compliance and consumer notification, coordinates asset condition reporting and transportation, manages remarketing activities through auction partners, and facilitates rebate recovery and charge-off completion.

Requirements

High school diploma or equivalent required
2+ years of experience in collections, repossession, asset recovery, or automotive remarketing strongly preferred.

Nice To Haves

associate’s or bachelor’s degree preferred

Responsibilities

Assign vehicles for repossession using Recovery Database Network (RDN), selecting appropriate agents based on geography, performance, and compliance history.
Identify and confirm applicable fee structures for each repossession agent prior to assignment.
Actively monitor and follow up on open and active repossession accounts to ensure timely resolution.
Place accounts on hold when required due to bankruptcy, disputes, payment arrangements, or management direction.
Prepare and send all required customer notifications via certified mail, including: Notice of repossession date, Location of the repossessed vehicle, Instructions for redeeming the collateral.
Issue secondary notices, including “Plan to Sell” or post-repossession notices, in accordance with applicable state and federal regulations.
Maintain accurate records of all notifications to ensure compliance and audit readiness.
Coordinate and obtain vehicle condition reports from repossession agents in a timely manner.
Arrange and track transportation of repossessed vehicles to the appropriate auction or liquidation destination.
Ensure vehicles are safeguarded and handled in accordance with company standards during transit and storage.
Notify auction partners of incoming vehicles to be sold on consignment.
Coordinate auction scheduling and ensure all required documentation is complete prior to sale.
Provide auction partners with floor bids and pricing guidance as required.
Monitor auction results and identify follow-up actions when vehicles do not sell as expected.
Coordinate the ordering of vehicle appraisals when required based on asset value, condition, or regulatory guidelines.
Review and analyze appraisal data to support pricing decisions and loss mitigation strategies.
Cancel all rebateable products associated with repossessed vehicles, including but not limited to: GAP insurance, Extended warranties, Service contracts.
Track and follow up on all rebate submissions to ensure funds are received in a timely manner.
Apply rebates accurately to accounts to facilitate charge-off completion.
Ensure all repossession, sale, and rebate activities are completed and documented to support final charge-off.
Maintain accurate records and update internal systems with repossession status, sale proceeds, and rebate activity.
Assist management with reporting, audits, and loss analysis related to repossession and remarketing activities.