Repossession Operations Lead

Valley Bank • Wayne, NJ

5d

About The Position

Responsibilities include but are not limited to:
Oversee all repossession activities, including coordination with third‑party
recovery agents, auction houses, and motor vehicle offices.
Manage the liquidation process for repossessed collateral, including receipt
and processing of funds from auctions and dealerships.
Prepare and file required documentation to obtain clear repossession titles
and ensure all regulatory correspondence is issued accurately and on time.
Set and approve auction floor limits, coordinate vehicle sales, and determine
redemption terms while communicating directly with customers when needed.
Maintain accurate reporting, reconcile general ledger accounts related to
repossessions, and oversee the cancellation and processing of dealer add‑ons
(e.g., warranty, GAP).
Develop and maintain management reports tracking repossession activity, collateral sales, and financial impacts.

Requirements

• Proficient with Microsoft Excel, Word, PowerPoint and Access.
• Strong attention to detail.
• Ability to respond well to tight deadlines.
• Ability to work independently and in collaborative effort.
• Strong interpersonal, verbal and written communication skills.
• High School diploma or GED equivalent and a minimum of 3 years of experience in auto loan collections, repossession operations and banking industry

Nice To Haves

• Bachelor's degree with experience at a Commercial Bank.
• Some employment in finance at an automobile dealership.

Responsibilities

• Oversee all repossession activities, including coordination with third‑party recovery agents, auction houses, and motor vehicle offices.
• Manage the liquidation process for repossessed collateral, including receipt and processing of funds from auctions and dealerships.
• Prepare and file required documentation to obtain clear repossession titles and ensure all regulatory correspondence is issued accurately and on time.
• Set and approve auction floor limits, coordinate vehicle sales, and determine redemption terms while communicating directly with customers when needed.
• Maintain accurate reporting, reconcile general ledger accounts related to repossessions, and oversee the cancellation and processing of dealer add‑ons (e.g., warranty, GAP).
• Develop and maintain management reports tracking repossession activity, collateral sales, and financial impacts.

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Education Level: High school or GED