Repossession Specialist

Lake Michigan Credit Union•Grand Rapids, MI

1d•Onsite

About The Position

The Repossession Specialist I preserves the Credit Union’s assets by controlling delinquent loan accounts, collecting delinquent loan payments, recovering collateral, and ensuring collateral is sold for proper value. The role coordinates repossessions with third-party agencies, evaluates collateral information, prepares required member communications and documentation, and maintains accurate payment and accounting records. The position is based in Grand Rapids, Michigan, and is fully on-site.

Requirements

High school diploma or equivalent.
1–3 years of related experience.
Strong communication and customer service skills.
Ability to work independently and as part of a team.
Strong attention to detail, organization, and confidentiality.
Ability to manage multiple priorities in a fast-paced environment.
Basic computer and math skills.
Ability to work in a professional office environment.

Nice To Haves

Credit union experience.

Responsibilities

Coordinate with third-party repossession agencies to investigate, locate, and recover collateral using skip-tracing tools, account research, and other available resources.
Review condition reports, photographs, and public auction data to assess collateral condition and support accurate valuation and sale decisions for repossessed vehicles.
Prepare and ensure timely delivery of required member communications and documentation in compliance with applicable state and federal regulations, including CFPB, FDCPA, and SCRA requirements.
Process payment postings, review and approve invoices, and maintain accurate general ledger and member account records throughout the repossession process.
Adhere to and champion the organization’s core values of curious minds, collaborative hearts, and continuous excellence.
Comply with applicable laws and regulations, including the Bank Secrecy Act, the Patriot Act, and the Office of Foreign Assets Control.