Repossession Specialist M-F 8am-5pm

Fifth Third Bank • Grand Rapids, MI

3d

About The Position

Under moderate supervision, the Repossession Specialist researches accounts using skip-tracing tools and processes voluntary, involuntary, and impound loan repossession assignments and reassignments in compliance with state and federal laws. The role reviews requests for repossession cancellations and redemptions, and evaluates additional repossession charges such as towing, storage, and repair fees. The specialist conducts research and approves, negotiates, or denies fees.

The position also carries responsibility for managing risk by exchanging ideas, raising concerns, and following bank policies and procedures. The specialist is expected to act in the best interests of customers and colleagues, support a positive customer experience, and identify, assess, manage, monitor, and report risks while operating within the Bank’s risk appetite.

Requirements

• High school diploma or equivalent.
• At least 2 years of collections, repossession, or equivalent work experience.
• Excellent verbal and written communication skills.
• Strong experience with Microsoft Office products, such as Word, Excel, PowerPoint, and Outlook.
• Proficiency with computer systems and keyboarding/data entry at moderate speed and accuracy.
• Ability to work in a team environment and present a professional image while commanding the respect of peers and leadership.
• General knowledge of collection laws, regulations, principles of credit lending, and risk management.
• Ability to work independently to a fair degree and solve problems.
• Ability to multitask and remain flexible while managing change.
• Self-motivation, professionalism, and strong organizational and problem-solving skills.

Responsibilities

• Conduct research, use skip-tracing tools, and evaluate data from multiple sources to make actionable decisions.
• Submit voluntary, involuntary, and impound repossession assignments and reassignments using multiple systems.
• Monitor daily verbal and written correspondence regarding impounds, contact third parties possessing the Bank’s collateral, and negotiate storage, towing, and repair charges.
• Accurately process and document requests for repossession cancellations and redemptions.
• Reconcile and review vendor invoices to ensure agreed-upon charges are paid, and process adjustments to post-repossession fees.
• Follow state and federal laws to protect the Bank and its customers.
• Work collaboratively to identify and recommend solutions to issues.
• Consistently meet or exceed commitments as defined by leadership.
• Perform other duties as assigned.

Benefits

• Comprehensive benefits programs designed to support employees’ and their families’ physical, financial, emotional, and social well-being.
• Differentiated compensation offerings.

What This Job Offers

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