Collateral Repossession Representative I

Job Description

Job Description

About MCU

At Municipal Credit Union, we believe that an incredible culture helps create a happy and motivated team that works hard to achieve the best results for themselves and their members. For more than 100 years, MCU has provided affordable financial products and convenient services to a membership base that is now comprised of over 600,000 individuals. With each new generation we have the pleasure of interacting with, we maintain the credit union promise of people helping people.

Our Mission :

To help hard-working New Yorkers build better tomorrows

Our Vision :

Be New York's most loved financial institution by helping our members build their best financial futures

Overview :

The Collateral Repossession I the primary responsibility will be to facilitate the lawful and efficient recovery of collateral for vehicles or other equipment, from individuals or businesses who have defaulted on their loans. This roles requires a meticulous and assertive individuals capable of navigating legal procedures and negotiations.

Key Responsibilities :

Specific duties include, but are not limited to, the following :

• Investigation and Surveillance : conduct thorough research and investigations to locate and identify collateral location. Utilizing skip tracing techniques to monitor to gather information on the whereabouts of the collateral and debtor.
• Ensure strict adherence to legal regulations and compliance during the repossession process coordinating with legal authorities, law enforcement or any other agency.
• Handle all aspects of the collateral loan collection life cycle performing daily outbound calls to delinquent members, assisting members in curing deficiencies, identify ability to pay, offering assistance programs where appropriate.
• Review delinquency report weekly to identify auto loans ready to place for repossession. This includes but is not limited to, first payment defaults, late stage delinquent accounts, fraud and discharged bankruptcy. Place collateral for repossession with appropriate agents and conduct thorough research on account for perfected lien, SCRA, MLA and Bankruptcy.
• Review auto loan for warranties and gap insurance for cancellation, research for CPI and file claims as required, updating the system on claim status, payouts or denials. Work collaboratively with internal departments to process all transactions and claims.
• Manage the review and submission of collateralized loans for potential claims reimbursement for repossession claims, damage claims, conversion, secretion and confiscation claims and summit claims within timely manner.
• Communicate and secure the Credit Unions position, process placement of holds, recovery and coordinate transport for collateral that has been impounded or had a placed mechanic lien and negotiate towing and storage expenses to reduce total loss exposure
• Send out repossession letters / notices as required by Federal and State regulation immediately upon repossession of collateral
• Escalate matters to management of any potential legal issues or credit union risk exposure.
• Respond to member and internal requests within expected service levels.
• Maintain a working knowledge of the Fair Debt Collections Practices Act, UDAPP
• Perform other duties as required.

Requirements :

Why you'll be a good fit :

Our Core Values are an integral part of who we are and who we hire. By living our Core Values, every day, we continue to attract the best and brightest talent, achieve unsurpassed results and continuously challenge ourselves to be better than yesterday. These values are at the heart of our organization and within every teammate. To be a great fit, you’ll bring the following

Results - We are passionate about winning.

Agility - We proactively anticipate, respond and pivot to ensure MCU wins.

Integrity - We operate with the highest ethical standards and highest degree of honesty.

Belonging - We cultivate a culture of inclusion and teamwork.

Ownership - We take personal responsibility and hold ourselves accountable for the results.

What we can offer you :

Competitive compensation, medical and dental benefits.

401K with employer contribution

Flexible paid time off

Please note that the pay range provided is a good faith estimate for the position at the time of posting. Final compensation may vary based on factors including, but not limited to knowledge, skills and abilities, as well as geographic location. Incentives and / or benefits packages may vary depending on the position.

Municipal Credit Union (MCU) is an Equal Opportunity Employer. Municipal Credit Union provides equal employment opportunities to all employees and applicants for employment and prohibits discrimination and harassment of any type without regard to race, color, religion, age, sex, national origin, disability status, genetics, protected veteran status, sexual orientation, gender identity or expression, or any other characteristic protected by applicable federal, state or local laws.

We are committed to hiring, training, cultivating, promoting, and celebrating an environment where we have a welcoming and fulfilling place for all people to call home. Diversity of race, thought, sexual orientation, age, veteran status, religion, and disability will empower us to thrive as individuals, as teams, and as an organization.