Summary
Job Summary
Oversees the end-to-end asset recovery process for defaulted loan accounts, including repossession assignment, vendor management, collateral disposition, and post-sale resolution activities. Ensures adherence to regulatory requirements and internal policies while driving performance through effective oversight of recovery strategies, reporting, and cross-functional collaboration.
Office Locations:
- This role will work out of the Las Vegas, Nevada Office
Department Hours:
- Monday-Friday 6am PT -6pm PT, Saturdays 6am PT - 2:30pm PT
Role Hours:
- Monday-Friday from 9am PT - 6pm PT, and Rotating Saturdays from 6am PT - 2:30pm PT
Duties & Responsibilities
Duties and Responsibilities
- Oversee daily loss recovery operations, including reviewing, approving, and assigning defaulted auto loans to recovery agents in accordance with credit union and state guidelines, monitor vendor progress and timelines.
- Manage performance, priorities, and development of the repossession specialists.
- Monitor dashboards, queues, and reports to ensure timely follow-up, balanced workloads, and performance tracking.
- Manage relationships with repossession agents, skip tracers, auction facilities, and titling agencies; enforce vendor compliance and performance standards.
- Resolve complex or escalated recovery cases, including member disputes, legal inquiries, redemption terms, and high-risk accounts.
- Oversee collateral valuation, damage assessment, and disposition strategies; coordinate repairs, insurance claims, and auctions or direct sales to maximize recovery value.
- Review loan files for inconsistencies or potential fraud; escalate concerns to Risk Management as appropriate.
- Review post-sale accounts and authorize placement of deficiency balances with approved collection agencies or legal counsel in accordance with policy.
- Partner with internal teams to align strategies and improve recovery results.
- Ensure compliance with all applicable federal and state regulations, including FDCPA, SCRA, FCRA, UDAAP, BSA, OFAC, the Patriot Act, and state-specific servicemember protections (e.g., California Military and Veterans Code “CA SCRA”) as well as other applicable state laws.
- Ensure strict adherence to Right to Cure requirements in applicable states; oversee issuance of Notice of Intent to Sell and Deficiency Balance letters.
- Train, mentor, and coach team members on recovery procedures, systems, and regulatory updates.
- Analyze recovery performance, vendor activity, sales outcomes, and loss trends; prepare and present reports to management with recommendations.
- Review and audit vendor invoices, sale proceeds, refunds, and dealer reconciliations for accuracy and timeliness.
- Ensure proper documentation of recovery actions and timely issuance of required legal notices.
- Support process improvements, enhanced recovery rates, and overall member experience.
- Perform additional duties to support departmental goals and organizational initiatives.
- Oversees clerical processing functions supporting Loss Recovery and Account Resolution operations, ensuring accurate and timely completion of all transactional and administrative duties. Support function responsibilities include: transactional payment processing, loan modification and extension processing, loan charge-off processing and account adjustments. Manager is also responsible to ensure accurate and timely processing of mail, tow notification, and mail returns.
Requirements
Education and Experience Requirements:
- Four-year degree and one year of collection experience preferred. In place of a degree, three years of collection experience could be substituted.
Required Knowledge, Skills and Abilities:
- General knowledge of collection practices and default servicing processes
- Experience with installment, credit card, and real estate loan collections
- Knowledge of credit union or financial institution products and services
- Must be able to appropriately resolve conflicts, escalated issues, and complex member situations
- Must be PC literate; proficient in Microsoft Office and applicable loan/collection systems
- Ability to conform to new policies, procedures, and regulatory initiatives
- Must be organized, detail oriented, and able to manage multiple priorities
- Ability to function and thrive in a high-volume, production-driven environment with strict deadlines
- Ability to work effectively both independently and within a team environment
- Strong interpersonal skills with the ability to resolve conflict and miscommunication
- Strong written and verbal communication skills
- Ability to maintain a high level of confidentiality when handling sensitive member and financial information
- Knowledge of repossession and collateral recovery processes, including vendor management and asset disposition practices
- Understanding of applicable federal and state regulations, including FDCPA, SCRA, FCRA, UDAAP, BSA, OFAC, the Patriot Act, and state-specific laws (e.g., California Military and Veterans Code protections)
