Repossession Specialist
About The Position
Kitsap Credit Union is seeking a results-driven Repossession Specialist to oversee the recovery and liquidation of collateral from individuals and small businesses in default on their loan or credit obligations. This role involves proactively engaging with members, negotiating repayment plans, coordinating repossession efforts, and fostering strong vendor partnerships to ensure seamless recovery operations. The ideal candidate thrives in high-pressure situations, maintains professionalism in challenging interactions, and is committed to minimizing financial risk while preserving member relationships.
Requirements
- High School Diploma or GED required.
- Minimum 2 years of experience in special credit (high-risk loans/problem credits) and progressive collections, including deficiency balance collections and loan modifications.
- Comprehensive knowledge of local, state, and federal laws regarding fair debt collection and repossession practices.
- Strong negotiation skills with persuasive, professional communication—both verbal and written.
- Proficiency in Microsoft Office applications.
- Ability to prioritize, analyze accounts, and find solutions to complex situations.
- Capacity to exercise sound judgment while maintaining confidentiality.
Responsibilities
- Collateral Recovery and Remarketing: Locate and recover consumer and small business loan collateral, ensuring timely remarketing and liquidation.
- Repossession Coordination: Manage nationwide repossession activities and optimize resource allocation across multiple regions.
- Reporting and Analysis: Develop and present monthly repossession reports with actionable insights, driving strategic improvements.
- Member Engagement: Build positive relationships with members to facilitate repayment negotiations and the redemption of repossessed assets.
- Negotiations: Negotiate payment plans, settlements, loan modifications, and payoffs directly with members and vendors.
- Skip Tracing: Utilize skip tracing methods to locate hard-to-find assets and members, facilitating repayment or asset surrender.
- Software Utilization: Assign repossession cases effectively using RDN and Auto IMS software.
- Vendor and Compliance Coordination: Liaise with vendors and insurance providers to maintain regulatory compliance and operation precision.
- Manage 100+ active repossession accounts while maintaining professionalism and composure in high-stress interactions.
Benefits
- Free onsite parking
- Annual time off and sick time accrued
- 11 Paid holidays
- 1 Personal floating day
- Medical, Dental, Vision, Short- and Long-term Disability, Life and AD&D Insurance
- Employee Assistance Program
- Choose from a PPO medical plan or a High Deductible with a Health Savings Account
- 3% KCU funded Safe Harbor Contribution to your 401K
- KCU will match up to 2% of your 401K contributions
- All 401K contributions are 100% vested
- Potential annual incentive in all roles within Kitsap Credit Union
- Tuition reimbursement
- 8 hours of paid volunteer time off
- Discounts on KCU's products and services
- Enjoy unlimited ORCA transit access through KCU for less than $45 a year—your cost as an employee
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What This Job Offers
Job Type
Full-time
Career Level
Entry Level
Education Level
High school or GED
Number of Employees
101-250 employees
