Repossession Specialist M-F 8am-5pm

Fifth Third Bank • Grand Rapids, MI

1d

About The Position

Under moderate supervision, the Repossession Specialist researches cases 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 cancellation and redemption requests, investigates additional repossession charges such as towing, storage, and repair fees, and approves, negotiates, or denies those fees.

The specialist manages risk by following policies and procedures, raising concerns, and identifying, assessing, monitoring, and reporting risks. The role is accountable for doing what is right for customers and colleagues and for supporting a positive customer experience while working within the Bank’s risk appetite.

This position is based in Grand Rapids, Michigan. The listed schedule is Monday through Friday, 8:00 a.m. to 5:00 p.m. There are no supervisory responsibilities.

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, including 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 to peers and leadership.
• General knowledge of collection laws, regulations, credit-lending principles, and risk management.
• Ability to work with a fair degree of independence and problem-solving ability.
• Ability to multitask and remain flexible while managing change.
• Self-motivated and professional, with strong organizational and problem-solving skills.

Responsibilities

• Conduct research using skip-tracing tools and evaluate information 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 repossession cancellation and redemption requests.
• Reconcile and review vendor invoices to ensure agreed charges are paid, and process adjustments to post-repossession fees.
• Follow state and federal laws to protect the Bank and its customers.
• Collaborate to identify and recommend solutions to issues.
• Consistently meet or exceed commitments defined by leadership.
• Perform other duties as assigned.
• Follow Bank policies and procedures, exchange ideas and opinions, elevate concerns, and identify, assess, manage, monitor, and report risks.

Benefits

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

What This Job Offers

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