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Repossession Manager - Wayne, NJ

Valley National Bank
$62,300.00 - $105,100.00 / yr
United States, New Jersey, Wayne
May 16, 2025
Back Repossession Manager #25-240 Wayne, New Jersey, United States Apply Apply for this job now! Apply Job Overview The Repossession Manager will manage all aspects of the Repossession, Collateral Protection Insurance and Total Loss Claims areas including the disposition and liquidation of all bank owned vehicles. Expected Work Hours 40 Job Description 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. Requirements Required Skills: Excellent verbal and written communication skills. Ability to prioritize, organize and delegate assignments. Superior knowledge of automobile sales, including values. Working knowledge of Microsoft Office with the ability to create spreadsheets. Required Experience: High School diploma or GED. Minimum of 5 years of related experience. Preferred Experience: Strong knowledge of automobile sales. Familiarity with regulatory requirements associated with consumer collections. Full-time/Part-time Full-time FLSA Exempt Location(s) Wayne , New Jersey , United States Job Details Pay Range Pay Range The estimated pay range for this job. Disclosing pay information promotes competitive and equitable pay. The actual pay rate will depend on the person's qualifications and experience. $62,300.00 - $105,100.00 / year Pay Transparency In order to support the Fair Compensation Strategy by the US Govt., HR Dept., clients are required to adhere to "Pay Transparency Law"; in the impacted states; that have mandated the employers to list the salary ranges in Job advertisements or postings for job opportunities and Job promotions.