Specialist, Collateral Management

Overview

Collateral Management Specialist is responsible for handling the collection of accounts and recovering monies owed in accordance with company policies and philosophy. The types of accounts include, but are not limited to, credit card, home equity, auto, consumer, returned deposits and charge-off

Primary Responsibilities
  • Verify state and send appropriate right to cure a letter at appropriate days past due
  • Update all appropriate system fields
  • Update account related system fields and document the account
  • Verify all repossession transport and miscellaneous fees to include on the notice of intent
  • Issue legal notice of intent letter within 48 hours specific to the individual state.
  • Handle all redemption and reinstatement calls and return the collateral if necessary
  • Update notice of intent to sell date in host system and vendor system
  • Arrange, ensure and monitor transport to appropriate auto auction
  • Collect, review and analyze auction condition report and compare to condition report from the repossession agent and question any discrepancies
  • Handle any damage claim resulting from the repossession or auction
  • Prepare and set floor value using current MMR values and current auction vehicle condition report
  • Research and provide auction feedback with any necessary needed items prior to sale date
  • Post sales proceeds to the account and update appropriate system status codes
  • Send deficiency balance letter with a full breakdown of fees on two-page document to all borrowers on the loan.
Requirements
  • High school diploma or equivalent.
  • Minimum two years of experience in collections.
  • Detail oriented, with good organizational skills.
  • Ability to prioritize multiple tasks.
  • Excellent verbal and written skills to effectively communicate in the English language.
  • Ability to work independently, and as a team member, while using discretion in decision making and sound   judgement in problem solving.
  • Ability to maintain a high level of confidentiality.
  • Ability to work well under deadlines.
  • Proficient PC skills, with the ability to learn new software.
  • Previous experience repossessions and collections preferred.

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