Consumer Loan Collections Specialist

Asset Management Specialist Job Summary

Performs as an experienced, well-developed, and trained member care representative with advanced communication and negotiation skills to resolve delinquent accounts and minimize non-performing assets while promoting account retention. Manages vendor relationships and coordinates the repossession, reinstatement, and sale of vehicles, including processing proceeds, handling refunds and payments, negotiating auto auction sales, and managing stored vehicles subject to lien sales.

• Perform all duties of Member Care Representatives I, II, and Escalations as needed.
• Contact members by phone, demonstrating strong negotiation skills to establish appropriate and sometimes complex repayment plans that meet the needs of both the institution and the member.
• Negotiate with members to resolve delinquent account status, discuss possible financial arrangements, explain potential legal actions, and recommend financial counseling to reach suitable payment arrangements.
• Maintain a high level of knowledge in all member care specialty areas, including negative shares, repossessions, suits, and bankruptcies.
• Coordinate with multiple vendors to repossess, reinstate, and sell vehicles in accordance with established policies and procedures.
• Assign adjusters to pick up stored vehicles or vehicles at risk due to lien sales.
• Process repossession reinstatement and redemption requests.
• Negotiate bids for auto auction sales and set floor prices for collateral sales.
• Maintain a thorough understanding of charge-off accounts and the related expulsion process.
• Maintain a thorough understanding of applicable state and federal laws and regulations related to compliance, including bank secrecy and anti-money laundering laws.
• Review and document account summaries for all actions taken, including telephone conversations, alternative financial arrangements, and correspondence, to assess the need for escalated member care efforts.
• Process proceeds from sales and prepare check requests for refunds or posting payments to reinstate vehicles.
• Establish and maintain records related to restricted delinquent and negative accounts, updating files to reflect payment dates.
• Maintain a high level of knowledge and responsibilities as described in departmental procedures.
• Maintain positive relations with members and internal departments, discussing sensitive financial circumstances tactfully.
• Maintain proficient knowledge of related financial products, procedures, and systems.
• Assist with escalated calls from members, branches, and internal staff as needed.
• Assist management with special tasks or projects as assigned.
• Research and respond to inquiries from members and internal departments regarding delinquent loans and account issues.
• Monitor compliance with organizational policies and Fair Debt Collection Practices.
• Assist in overseeing the department during manager or supervisor absences and support all areas of the collections function when needed.
• Support department goals by meeting performance standards in all areas of collections.

• High school diploma or equivalent.
• Three or more years of collection experience in a financial institution, including experience with delinquent auto loans.
• Strong verbal and written communication skills.
• Knowledge of credit and collections rules, regulations, policies, and procedures.
• Proficiency with standard office and banking equipment and systems, such as ten-key, electronic banking tools, and payment processing terminals.

• Proven experience in collections with emphasis on delinquent auto loans and asset recovery.
• Demonstrated ability to negotiate complex repayment plans and resolve delinquent accounts.
• Thorough understanding of charge-off processes, repossessions, and related legal and regulatory requirements.
• Ability to collaborate with vendors and internal stakeholders to achieve collection and asset management goals.
• Consistent performance in meeting department standards and supporting overall collection objectives.

• Advanced negotiation and conflict resolution skills.
• Strong analytical and documentation skills for account review and…