Repossessed Asset Coordinator at Five Star Bank in Rochester, New York

Job Description:

Position Title: Repossessed Asset Coordinator

Reports To (Title): VP and Operations Manager

Department: Retail Collection

FLSA Status: Non-Exempt

Purpose: The Repossessed Asset Coordinator is responsible for working with designated repossession agents, auction agents, clients and customers regarding vehicle repossession, transportation, inspection, evaluation of conditions, to ensure compliance with Bank policy, the regulatory environment, and the expected accuracy and timeliness of all activity.

Scope and Direction:

Area of Responsibility: Retail Collection Department - Repossession Remarketing Team

Degree of Supervision Received: Moderate

• From: Vice President - Operations Manager

Degree of Supervision Given: None

Essential Functions: The major duties of the job that constitute the fundamental tasks and or responsibilities of the position. Employees must be able to perform the essential functions of the position with or without reasonable accommodations.

1. Communicates with customers, repossession agents, auction agents, branches, collectors, and call center representatives and provides exemplary customer service to those involved in the repossession and re-marketing of unpaid assets.

2. Gathers and documents all appropriate documents and detailed and accurate information and updates all loan records. This includes: repossession paperwork from agents; condition reports; insurance binders; agent activity follow-up and reports; impound notices and abandonment notices; closed assignments and closed bills; and bankruptcy filing and discharge notices. Cease activity upon receipt of bankruptcy notices. Delay sale scheduling until the receipt of discharge documentation.

3. Provides detailed information to customers through the accurate and timely notifications of repossession and sale. Of critical importance is compliance with state and federal regulatory requirements for the timely processing and issuing of notifications to customers. Failure to adhere to and comply with regulations leads to fines, penalties and possible law suits.

4. Monitors the scheduling for the timely transporting of repossessed vehicles to the auction locations. Requests all verification and condition reports and updates collection notes. Obtains market valuation information through NADA, Kelly Blue Book and Manheim.

5. Communicates with customers regarding redemption processing. Calculate payments and fees. Discuss method of payment of redemption fees, advise payment options: cash at branches, wire transfers, electronic payments with Debit Cards. Ensure the accurate posting of all monies. Notify the loan servicing areas of the appropriate application of redemption payments and fees.

6. Receives and processes all auction proceeds. Ensure the accurate posting of proceeds. Determine the accurate deficiency balance after sale and provide notification to customers.

7. Receive, research, skip trace all returned mail items. Report new location information to agents and update collection notes.

8. Process title requests. Order repossession titles, replacement titles, through DMV and Maggart. Timing is essential to ensure the scheduling of future auctions, and the acquisition of sale proceeds.

9. Work in conjunction with the Senior Repossession and Remarketing Coordinator on a daily basis. Perform all duties in addition to acting as back-up to Senior Repossession and Remarketing Coordinator in cases of absence.

10. Demonstrate the standards and principles of the Five Star Bank experience in every interaction with internal and external customers, associates, and stakeholders. Incorporate the high- performance behaviors of teamwork, leading by example, and service in every facet of work.

11. This job description is not exhaustive. The Repossessed Asset Coordinator may be required to perform other duties as assigned.

Job-Related Qualifications - Education and Prior Experience:

Required:

• Bachelor's Degree


• 3+ Years Experience - Type: Banking, Credit Union, Collection agency or attorney firms

-OR-

Required:

• Associates Degree


• 3+ Years Experience - Type: Banking, Credit Union, Collection agency or attorney firms

-OR-

Required:

• 5 years of comparable experience in the area of collection for banks, credit unions or collection agencies; repossession and auction locations/lots; law firms, auto finance groups

  
  

  
  

Competencies:

1. Excellent and effective verbal and written communication skills. Detail-oriented with exceptional organization skills. Ability to work with and relate to: peers, management, customers, vendors, agents, internal and external contacts. Collect and update information.

2. Ability to multi-task in a fast- paced environment. Ability to work under time constraints with strict deadlines.

3. Demonstrate sound decision -making ability within the scope of the position. Think and act in accordance with the areas of responsibility and only seek supervisory/managerial approval in difficult situations or instances requiring exceptions to procedures.

4. Expert knowledge of state and federal regulations for activities governing the repossession and re-marketing process. High degree of accuracy in the preparation and issuance of all customer notifications.

5. Ability to perform all duties of the Senior Repossession and Remarketing Coordinator in absence situations

6. Proficient in Microsoft Office, JH Experience, FSB Applications, and the ability to learn any new system and application.

Physical Requirements:

1. Able to regularly sit for prolonged periods of time

2. Able to regularly stand for prolonged periods of time

3. Able to Travel:

• occasionally

4. Extensive computer usage is required

5. Ability to work:

• Evenings - occasionally


• Weekends - occasionally

Five Star Bank and affiliate companies are committed to Equal Employment Opportunity and Affirmative Action. We recruit, hire, train and promote persons in all job titles and ensure that all other personnel actions are administered without regard to race, religion, color, national origin, citizenship, sex, sexual orientation, gender identity, age, veteran status, disability, genetic information, or any other protected characteristic. Five Star Bank and affiliate companies are committed to providing reasonable accommodations to employees and applicants with disabilities to the full extent required by the Americans with Disabilities Act (ADA). If you feel you need a reasonable accommodation pursuant to the ADA, you are encouraged to contact us at (585) 786-4344, (585) 498 - 7565 or (585) 786-1417.

Note: At a later stage in the application process, applicants may be required to provide information about their criminal conviction history, if any, and to authorize the procurement of a consumer report that will contain, among other things, information about criminal conviction history. Except as required by applicable law, past criminal convictions will not automatically disqualify an applicant from employment, and Five Star Bank will only consider such history in accordance with applicable law. Please be advised, however, that federal law prohibits Five Star Bank from employing "any person who has been convicted of any criminal offense involving dishonesty or a breach of trust or money laundering, or has agreed to enter into a pretrial diversion or similar program in connection with a prosecution for such offense" unless the FDIC has provided prior written consent.