Repossession Manager Job Listing at Valley Bank in Wayne, NJ (Job ID 25-240)

Description

Responsibilities include but are not limited to:

• Review, approve and assign defaulted auto loans to approved recovery agents pursuant to bank and regulatory guidelines while monitoring agent's progress.
• Responsible for managing performance, tasks, and timelines for a staff of approximately 6 including the repossession coordinator, repossession supervisor, insurance coordinator and clerical support staff.
• Determine terms of redemption as well as handle any customer escalations.
• Ascertain the value of repossessed collateral and coordinate with approved auto auctions to maximize resale value.
• Determine the extent of damage to bank owned collateral and file insurance claims as necessary.
• Review defaulted loan files for inconsistencies and potential fraudulent applications and notify management and Fraud Risk Management as warranted.
• Review post-sale repossession files and authorize assignment of deficiency balances to an approved collection agency or attorney within policy guidelines and timelines.
• Prepare reports for repossessions, sales and losses for distribution to management.
• Monitor the effectiveness of 3rd party vendors including repossession agents, auctions and insurance vendors.