Repossession Specialist II

This role is hybrid with a required onsite presence 2-3 days per week in Knoxville, TN.

Role: The Repossession Specialist II supports the credit union's recovery efforts by managing delinquent consumer loan accounts, coordinating repossession activities, and overseeing collateral recovery while ensuring compliance with credit union policies and applicable state and federal laws. This position contacts members regarding past-due loans, coordinates repossession assignments, monitors recovered collateral, assists members with repossession-related inquiries, partners with vendors and internal departments throughout the recovery process, and processes vendor invoices to support departmental objectives. The role also serves as backup for repossession operations, including warranty and ancillary product claims.

Essential Functions and Responsibilities:

• Contacts members regarding past-due consumer loans, sends required notices in accordance with policy, and processes or transfers funds when appropriate. Assigns collateral for repossession and coordinates recovery efforts with repossession agents and forwarding companies. Monitors repossession assignments and impounded units to protect the credit union's lien position and prevent loss of collateral rights.


• Participates in departmental projects by coordinating tasks, tracking progress, processing invoices, and supporting the successful implementation of departmental and organizational initiatives.


• Performs administrative duties related to the repossession process, including the preparation and distribution of required notices, such as Notices of Intent to Sell (Post-Repossession) and Notices of Deficiency (Post-Sale), in accordance with applicable laws, regulations, and credit union policies.


• Initiates and processes cancellations of eligible ancillary products, including GAP and Extended Service Contracts (ESC). Monitors and follows up on outstanding requests in accordance with established policies and procedures to ensure timely resolution and receipt of applicable refunds.


• Performs other job-related duties as assigned.

Experience:

• Minimum 3 years of experience in collections, recoveries, asset recovery, or repossession operations within a financial institution, lending organization, repossession agency, or recovery service provider is required


• Minimum 3 years of hands-on experience managing repossession activities, including assignment placement, vendor coordination, title processing, remarketing support, skip tracing, and account resolution is required


• Demonstrated knowledge of delinquency management, collections strategies, collateral recovery, and deficiency balance collection practices is required


• Experience working with repossession vendors, auction partners, attorneys, and third-party service providers to ensure timely recovery and liquidation of collateral is preferred


• Strong understanding of federal and state regulations governing collections, recoveries, repossessions, bankruptcy, and consumer protection requirements is preferred

Education:

• High School Diploma or GED is required

Other Skills Required:

• Ability to prioritize demands from multiple assignments/projects


• Strong collaborative problem solving skills


• Proficiency with Word, Excel, PowerPoint and Outlook


• Excellent written and verbal communication skills with the ability to effectively interact with all levels of the organization


• Ability to add, subtract, multiply and divide in all units of measure using whole numbers, common fractions, and decimals