Spvr Repossession

Navy Federal Credit Union - Winchester, VA

Full-time - Mid Level

Winchester, VA

Credit Intermediation and Related Activities

About the position

The Spvr Repossession position at Navy Federal Credit Union involves planning, supervising, and leading the daily operations of the Repossession section within Collections. This role is responsible for managing the repossession portfolio of accounts, ensuring compliance with laws and regulations, and minimizing losses to the credit union. The supervisor will serve as a subject matter expert on section functions, policies, and procedures, while also providing guidance and training to staff.

Responsibilities

• Establish and ensure that section objectives, production goals, and standards are implemented and achieved
• Develop strategic plans, tactics, and goals for the repossession department; monitor day to day team activities and operations to ensure processes and procedures comply with laws, regulations, and standards
• Provide guidance and training to staff in the repossession to maximize recoveries and minimize losses to the credit union
• Investigate and provide additional details for all Replevin accounts to ensure legal has necessary documentation to secure collateral
• Manage repossession vendor relationships, and ensure compliance with applicable state laws. Review monthly reporting to ensure vendors are meeting expectations for securing collateral
• Manage vendors used in the repossession and vehicle sale process; negotiate fees and terms
• Supervise negotiation and fulfillment of contracts, ensuring that service levels meet required standards and expectations
• Provide oversight in determining the price best approach to sell collateral; review and approve the release of liens on titles for sold vehicles
• Monitor costs related to repossession and sale of collateral property; authorize expenses related to repossession and charge-off, and perform audits in the vendor payment database
• Manage and resolve escalated complex issues from branches, members, third parties, creditors, and attorneys
• Manage and provide guidance to and collaborate with other business units and external contacts to resolve urgent member-related and operational problems
• Manage reporting data on repossessions, redemptions and reinstatements, analyzing trends
• Maintain thorough knowledge of and comply with the Fair Debt Collection Practices Act, state consumer protection laws, industry regulations and practices, and Navy Federal policies and procedures that govern delinquency, repossessions, and charged-off accounts

Requirements

• Strong knowledge of banking/financial industry trends, products and services
• Strong knowledge of the remarketing industry, applicable laws, policies, industry standards, processes, procedures, and systems related to credit, delinquent accounts, and repossession activities
• Significant experience working with all levels of staff, management, stakeholders, vendors
• Experience supervising and/or leading employees
• Significant experience managing multiple priorities independently and/or in a team environment to achieve goals
• Advanced skill presenting findings, conclusions, alternatives and information clearly and concisely
• Advanced skill producing desired results and achieving goals and objectives
• Advanced skill assimilating information, analyzing facts, and developing logical conclusions
• Effective skill leading and guiding others in completing projects and work assignments in a timely manner
• Bachelor's degree in Business Administration, Finance, or related field, or the equivalent combination of education, training and experience

Nice-to-haves

• Working knowledge of processes, procedures, and systems used in the division
• Effective skill recruiting, retaining, coaching and motivating employees to achieve production results

Benefits

• Highly competitive pay
• Generous benefits and perks
• Recognition as one of the Best Companies for Latinos to Work for 2024
• Ranked in Computerworld Best Places to Work in IT
• Listed in Forbes 2024 America's Best Large Employers
• Recognized in Forbes 2023 The Best Employers for Grads
• Included in Fortune Best Workplaces for Millennials 2023
• Ranked in Fortune Best Workplaces for Women 2023
• Listed in Fortune 100 Best Companies to Work For 2024
• Recognized by Military Times 2023 Best for Vets Employers
• Awarded Most Loved Workplaces by sweek
• Received Ripplematch Campus Forward Award - Excellence in Early Career Hiring
• Ranked in Yello and WayUp Top 100 Internship Programs