Collections Repossession Specialist

About the Role: The Collections Repossession Specialist is responsible for coordinating all Credit Union repossession activities and servicing severely delinquent accounts. This position works closely with members, vendors, and internal departments to manage repossessions, monitor payment arrangements, coordinate collateral recovery and auction processes, and minimize potential losses to the Credit Union. Ensures accurate documentation, timely resolution of accounts, and compliance with Credit Union policies and applicable regulations while maintaining a positive member experience. Scheduled Weekly Hours: 40 hours per week; Monday Friday; 8: 30 5: 30pm What youll be doing: Provide a positive member experience while managing delinquent accounts and following Credit Union policies and procedures. Initiate outbound calls to borrowers with severely delinquent loans, monitor past-due accounts, and coordinate collection efforts. Make repossession recommendations and manage related activities, including skip traces, insurance claims, and collateral recovery. Monitor short-term payment arrangements and negotiate reinstatement or redemption options in accordance with Credit Union guidelines. Coordinate with repossession, skip trace, and auction vendors to ensure timely recovery and disposition of collateral. Manage vehicle auction processes, including determining collateral values, reviewing bids, preparing required notices, and coordinating title releases. Review vehicle condition reports, monitor impound notices, and take appropriate action to protect Credit Union assets. Maintain accurate and detailed records of collection activities, repossession updates, vendor communications, and account resolutions. Ensure compliance with applicable federal and state collection laws, regulations, and Credit Union policies. Manage vendor relationships, evaluate performance, and resolve service-related concerns to support efficient collection operations. Youre Perfect For This Role If You Have: A high school diploma or equivalent. At least 2 years of collections experience. Experience in collections, lending, or a financial institution, including customer service and problem resolution. Strong verbal and written communication skills, with the ability to handle sensitive member interactions professionally. Strong analytical and mathematical skills, including the ability to calculate rates, ratios, and percentages and interpret data. Ability to read and interpret policies, procedures, technical documents, and government regulations. Excellent attention to detail and the ability to prepare accurate reports and correspondence. High proficiency in Microsoft Office software programs. Who We Are: Bay Federal Credit Union was started in 1957 when local school teachers pooled their money together to start a credit union. This original vision and investment has grown into the areas largest locally-owned financial institution, with nearly $1.6 billion in assets. Today, Bay Federal provides full service financial products and solutions to individuals and businesses in Santa Cruz, Monterey, and San Benito counties. As a local, member-owned, not-for-profit financial cooperative, we are passionate about contributing to the community and being an integral part of its incredible story. Each year, our employees volunteer their time and donate their money to local non-profits, schools, and events. Our managers serve on local non-profit Boards of Director to be involved, understand challenges, and to make a real difference in the communities we serve. From our founding as a teachers credit union, Bay Federal has continued our commitment to education. We offer annual student scholarships for members and offer a comprehensive array of solutions to support our member's financial wellness. Through online financial education course offerings, solutions for teachers and students, as well as special programs for youth, our financial wellness programs are free and available to the public. This is a small part of our work in creating thriving and vibrant communities! We look forward to continuing our story, and hope that you will be a part of it! Why Youll Love Working at Bay Federal Credit Union At Bay Federal, we believe that when our employees thrive, our members and community do too. Were proud to offer a comprehensive benefits package and meaningful perks designed to support your well-being, growth, and success, both at work and beyond. Comprehensive Benefits 401(k) Matching: Well match your contributions dollar-for-dollar up to 5% of your pay.Annual Bonus Eligibility: Share in our success through our annual bonus plan.Health Coverage That Cares: Choose from quality Medical, Dental, Vision, Life Insurance, and Long-Term Disability options.Employee Assistance Program: Receive up to six face-to-face sessions per person, per reason, for you and your household.Wellness Program: Holistic support for your physical, financial, and emotional health.Rocket Lawyer Legal Services: Company-sponsored program that provides legal documents, advice, and attorney assistance for a wide range of needs. Additional Options: Customize your coverage with Pet Insurance and Aflac supplemental plans. Perks That Set Us Apart Recognized as the #1 Credit Union to Work For by Credit Union Journal.Named a Best Place to Work in the Bay Area by SF Business Times and Silicon Valley Journal.11 paid Federal Holidays each year, so you can recharge and celebrate.Career Growth & Development: Access to industry-standard webinars and LinkedIn Learning courses.Leadership partnership with Cabrillo College a 12-week program designed for emerging supervisors and managers.$1, 500 Mac McCormac Employee Scholarship to support your education goals. Hybrid Work Environment: Enjoy flexibility with remote work opportunities and connect in person during our biannual All-Staff Meetings. Bay Federal Credit Union is proud to offer a competitive, robust compensation and benefits package. Bay Federal considers many factors in determining base pay such as experience, education/training, internal peer equity, job location, and other business considerations when extending an offer. For Santa Cruz, CA only, the pay scale Bay Federal reasonably expects to pay for this position is $26.60 - $33.26 per hour. Salaries are based on the geographic location in which you live if working remotely. Bay Federal provides health care benefits, life and disability insurance, paid holidays and 401k with a company match to eligible employees; along with employee paid voluntary benefits. Paid time off is accrued per paycheck for eligible employees at a rate based on your tenure. Leaves of absences are available in adherence with state and federal regulations. Bay Federal is committed to providing equal employment opportunity for all persons regardless of age, disability, national origin, race, color, religion, sex, sexual orientation, gender, gender identity or expression, pregnancy, veteran or military status, marital and civil partnership/union status, alienage or citizenship status, creed, genetic information or any other status protected by applicable federal, state, or local law. Bay Federal is at at-will employer. For CCPA's requirements regarding security practices and procedures, please see our privacy page here (https: //www.bayfed.com/privacy). Bay Federal Credit Union takes our obligation to keep our member's data safe and secure and adhere to industry standard best practices