Repossession Specialist

What you will do

Do you believe that people are the key to the success of an organization? Are you someone who wants to impact the bottom line of our business and that of our customers? Do you want variety, unique challenges, and opportunities to grow? If yes, keep reading to find out how you can be a part of the Repossession Team here at Volvo Financial Services, a part of the Volvo Group.

What do you picture when you hear the title “Repossession Specialist”?  If it’s hooking a vehicle to a tow truck under the cover of darkness, think again.

As a Repossession Specialist with VFS, you impact the bottom line by protecting and securing financed assets that are in default of the contractual obligation. You’ll partner with internal teams such as credit, account resolution, customer service, remarketing, accounting, sales, legal and capital market resources.  Occasional travel may be required. You will be part of an on-site team in Greensboro reporting to the Account Resolution Manager.

In this role, you will leverage your negotiation, scheduling, relationship management, organization and prioritization skills (among others) to move assets through the repossession process. You’ll work closely with qualified external agencies to ensure timely asset delivery to a safe haven or redemption from the current customer. 

As a Repossession Specialist, you’ll have access to telematics technologies to assist in the location and recovery of assets.
While this position requires attention to detail, organization and prioritization skills, you’ll also have the opportunity to build and grow relationships, analyze information and make business decisions.

Other duties and responsibilities include:
• Evaluating market value to determine whether it is cost effective to repossess the equipment
• Obtaining inspections, ordering Federal Tax Lien and UCC searches, issue proper Notice of Sale per state requirements and completion of condition report/itemized inventory
• Insurance administration for repossessed assets including payment processing for repairs, total loss. Responsible for tracking repairs and ensuring proper completion of repairs
• Ensuring equipment is ready for sale by properly documenting legal file requirements
• Preparing updates on active repossessions, as well as internal periodic reports on unit status for asset management and insurance tracking
• Reporting/creating repossession watchlists
• Securing physical storage of all vehicles, including the management of storage, transportation expenses and repair costs associated with the unit
• Negotiating and coordinating directly with customers regarding voluntary surrender of equipment, repayment of past due fees, late charges, taxes and any other items due
• Partnering with the Legal/Bankruptcy/Litigation Departments in matters involving seizures,
bankruptcy notifications and replevins
• Liaising with the syndication and capital market group
• Reporting needs on all units in the repossession process
• Operating in compliance with collection, repossession, credit reference policies and legal requirements
• Collaborating with Collateral Administration for title release of redeemed assets, hold title requests and UCC filing/extensions
• Forward thinking to ensure costs of units are within guidelines and implantation of approved processes Works with Collateral Administration on title release and title concerns
• Auditing compliance as deemed by Corporate Guidelines
• Additional responsibilities as directed by the Account Resolution Manager

Who are you?

You are a business professional with a passion for both relationships and process. You bring 1-2 years of experience in recovery, collections and/or repossession experience in commercial banking, consumer lending or equipment leasing. We’d love if you hold a BA/BS in business or a related field, but we also value on-the-job experience and will consider candidates with a higher level of experience in lieu of a degree.  Microsoft Office products (especially Excel) and customer management tools are your friends and you know how to make them work for you.  You’ll also need a sound knowledge of local, state and federal regulations regarding repossessions.

What are the keys to success for a Repossession Specialist at VFS?  They include, but are not limited to, impeccable attention to detail, the ability to prioritize and reprioritize as needed, the ability to build and grow relationships, a passion for learning our business and working cross-functionally, and the desire to build solid financial counseling skills.  

What’s in it for you?

In addition to being part of a high-performing team in a fast-paced, rewarding environment, our benefits package also includes the following:
• Competitive compensation
• Company bonus program
• Generous Earned Time Off (ETO)
• 401k plan with generous company match
• Health, vision and dental insurance
• Paid parental and caregiver leave plans
• Company provided financial wellness program
• Employee Assistance Program (EAP)
• Wellness programs and onsite gym

Ready for the next move?

If you want to make a real impact in your career, the transportation business is where you want to be. We look forward to meeting you.