Repossession Liquidation Specialist

Credit Union West•Glendale, AZ

About The Position

The Repossession Liquidation Specialist enhances members’ and team members’ quality of life by meeting or exceeding service expectations. The role directs and manages the liquidation process for repossessed property, including evaluating condition and fair-market pricing, coordinating repairs or insurance claims to reduce deficiency balances, documenting sales, and maintaining records. The specialist researches repossessions for cancellable ancillary products and initiates and follows up on refund requests. The role requires understanding GAP, Depreciation Protection, Credit Life, Disability, and Unemployment products, and may include early-stage collection of delinquent consumer loans. The specialist administers repossessions in accordance with organizational policies, procedures, applicable laws, and regulations. Responsibilities also include handling abandoned-vehicle and tow notices, assisting with credit disputes and total-loss insurance claims, processing debt-protection claims and payments, and making collection calls as needed. The position supports accurate documentation, timely follow-up, and compliance with relevant consumer-protection and debt-collection requirements.

Requirements

High school diploma or GED.
Three to five years of experience, preferably at a credit union or financial institution.
Ability to communicate effectively and tactfully with employees and members, orally and in writing.
Critical-thinking and problem-solving skills, including the ability to work independently.
Effective time-management and organizational skills; ability to multitask and adapt while serving members and employees.
Working knowledge of Microsoft Office, SharePoint, and collaborative tools such as Teams and Zoom.
Working knowledge of the organization’s Employee Handbook and policies.
Functional knowledge of the Bank Secrecy Act and other federal laws, including the U.S. Patriot Act, Office of Foreign Assets Control requirements, Anti-Money Laundering requirements, Right to Financial Privacy Act, and Bank Bribery Act.
Knowledge of GAP, Depreciation Protection, Credit Life, Disability, and Unemployment products.
Knowledge of bankruptcy and lien laws and debt-collection regulations, including the FDCPA, CFPB requirements, and TCPA.
Ability to remain positive and resilient in difficult situations.

Nice To Haves

Experience in a credit union or financial institution.

Responsibilities

Direct and manage the liquidation process for repossessed property.
Ensure repossession functions and dispositions follow established policies, procedures, applicable laws, and regulations.
Schedule, coordinate, and document post-repossession activities; monitor and inventory repossessed collateral.
Mail required state-appropriate notices and rights letters to borrowers, including notices of sale and deficiency balances, using regular and certified mail as applicable.
Ensure out-of-state repossessions are liquidated in accordance with state regulations.
Review repossessions for damage and initiate claims with members’ insurance carriers or CPI carriers when applicable.
Initiate and follow up on refunds for loans with cancellable ancillary products, including mechanical breakdown coverage, GAP, Credit Life, and Disability.
Recommend necessary mechanical repairs or expenses to the Financial Resolution Manager to help achieve the best sale results.
Keep management informed of repossession activities, progress, and significant problems; prepare required reports and summaries.
Participate in reviewing and developing repossession policies and procedures.
Process tow and abandoned-vehicle notices; identify and enter notices into the collections platform, contact agencies to coordinate recovery, communicate with members, and follow up with insurance adjusters when applicable.
Assist with member credit disputes and respond to E-Oscar and member disputes within regulated timelines; document, monitor, investigate, and research disputed information.
Assist in processing total-loss claims, review insurance Letters of Guaranty, assist with GAP questions, file GAP claims after insurance checks are processed, submit supporting documents, and follow up on claim payouts.
Process claim and refund payments related to GAP, warranty, Credit Life, Disability, and Unemployment products; post debt-protection payments to the appropriate member loans and assist with claim filing and staff inquiries.
Assist with collection calls and other contact methods, encourage repayment, ask fact-finding questions, research member profiles, document collection efforts, and identify opportunities for assistance or more stringent collection action.
Comply with internal policies and procedures and understand bankruptcy and lien laws as they apply to collections, as well as applicable debt-collection regulations.
Perform other duties as assigned.