Repossession Specialist I

Space Coast Credit Union (SCCU), the 3rd largest credit union in Florida, is looking for a Repossession Specialist I to join our ONESCCU team in either our Baytree Headquarters or Miramar Operations Center! SCCU has been in business for over 70 years, has over 9 billion dollars in assets and WE ARE GROWING!

Our Members are our top priority and we stand behind our Brand Promise: Honest People, Trusted Products, Time Valued. We offer a rich benefits package and career advancement opportunities.

SCCU Team Member Benefits:

• ONESCCU annual bonus available
• Hybrid Work Options – Work from home up to 3 days a week
• Flexible Schedule Options
• Medical, Dental & Vision Insurance
• HSA (Health Savings Account) with SCCU matching contribution
• SCCU Paid Long Term and Short Term Disability coverage
• SCCU Paid Term Life Insurance
• Employee Assistance Program (EAP)
• Paid Time Off
• 401(K) Pre-Tax Savings Plan with SCCU match- 100% of the first 5% of employee contributions
• Tuition Reimbursement Program

SCCU Team Member financial discounts & perks (save money every month!):

• Loan Discounts - Mortgage, 2nd Mortgage, Auto, Motorcycle, Boat etc. / GAP coverage at half price
• Fixed low rate credit card- 5.99%, if approved
• FREE Identify Theft Protection!
• No fee SCCU accounts

Repossession Specialist I Salary Range:

$23.36 - $24.89 per hour

Purpose:

Manage and oversee the repossession process for delinquent loans, ensuring adherence to legal and organizational policies while working towards resolving delinquencies through member contact and negotiations. This position is responsible for validating delinquent loan statuses, coordinating repossession activities, and maintaining accurate records. Additionally, the role involves handling collateral evaluation and liquidation, managing insurance claims, and ensuring the protection of the organization's lienholder status.

Repossession Specialist I Responsibilities:

• Reviews new loans recommended for repossession daily: Confirms validity of delinquency and makes further contact attempts using skip-tracing results to resolve delinquency prior to repossession assignment.
• Upon successful contact: Provides solutions to bring past due accounts current, including potential payment arrangement, refinance, interest-only modification, loan extension, or collection rewrite.
• If contact is unsuccessful: Reviews the account for bankruptcy protection, CPI (Collateral Protection Insurance), SCRA (Service Members Civil Relief Act) protection, and valid lienholder status on the title prior to repossession assignment.
• Manages the repossession pipeline from order to liquidation by coordinating all repossession assignments with multiple vendors. Ensures accurate documentation of all repossession actions in the Credit Solutions software system, including assignment details, holds, and cancellations, to maintain precise records and collateral inventory.
• Monitors queue daily: Checks for recent payments, payoffs, or unexpected changes to the days past due for all assigned loans to avoid wrongful repossession.
• Upon notification of successful repossession updates the Core System with the appropriate restriction flags and credit reporting requirements.
• Reviews collateral evaluation report: Determines appropriate liquidation method: auction, consignment, SCCU Repossessed Auto Listings, or salvage auction.
• Send letters to member(s) within established department guidelines: This includes unable to contact, right to redeem, and deficiency balance letters via certified mail.
• Demonstrates complete understanding of SCCU’s CPI and Lenders Protection insurance policies: Files all necessary CPI claims, including but not limited to damage, repossession expense/mechanic’s lien, premium deficiency, conversion, secretion or confiscation claims, as well as lenders protection claims for deficiency loss, supplemental, LSI-skip claims, and LSI-physical damage claims.
• Processes DRN Total Loss Reports daily: Attempts contact with the member and/or insurance company regarding the status of the total loss claim.
• Processes all claim of liens from towing companies: Ensures SCCU’s lien position is maintained in a timely manner.
• Adheres to established department and organization policies, procedures, objectives, and quality standards: Ensures consistent operations of the Credit Solutions Department.
• Attendance and punctuality are essential functions of this job.

Repossession Specialist I Minimum Requirements

Prior Experience:

• 1 to 3 years of experience in consumer debt collections.

• Experience with Vehicle Collections and Loss Mitigation preferred.

• Knowledge and experience with SCCU systems and processes may be considered toward required experience.

Education and Training:

• High School Diploma and/or equivalent experience.

Contract Administrator Schedule:

• Full Time during department hours of operation.
  • Monday - Friday 8:00am - 6:00pm.
  • Saturday 9:00am - 1:00pm, on rotation.
• Flex Scheduling and Work From Home Hybrid options available.