Valley National Bancorp
Job Responsibilities
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.
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.