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Asset Recovery Specialist III (Hybrid) - Irving Texas
Company: OCTANE Location: Irving, Texas
Posted On: 04/26/2024
Octane - is revolutionizing recreational purchases by delivering a seamless, end-to-end digital buying experience. We connect people with their passions by combining cutting-edge technology and innovative risk strategies to make lifestyle purchases - like powersports vehicles, RVs, and OPE - fast, easy, and accessible. Octane adds value throughout the customer journey: inspiring enthusiasts with our editorial brands, including Cycle World - and UTV Driver -, instantly prequalifying consumers for financing online, routing customers to dealerships for an easy closing, and supporting customers throughout their loan with superior loan servicing. Founded in 2014, we're a remote-first company with 550+ employees and over 30 OEM and 4,000 dealer partners. Reporting to the Supervisor for Asset Recovery, the Loss Recovery Specialist III will focus on successfully resolving high balance charged-off skip accounts, skip-to-locate for accounts referred to legal for suit working closely with replevin attorneys, and act as a first line recovery agent for accounts re-entering the collection stream post-sale as a repossession deficiency. This is a tremendous opportunity to partner with Roadrunner Account Services to build a best-in-class servicing organization for our growing portfolio of Powersport loans. Specifically, you will: - Possess advanced skip tracing skills for post charge off accounts and accounts referred for legal remedies.
- Recovery on losses by manually conducting outbound and inbound collection and customer service calls.
- Investigate and resolve issues generally associated with loan servicing, i.e., potential loss situations such as confiscations, impounds, bankruptcy, replevins, and repossessions.
- Provide consistent and productive follow up on Charge Off accounts 120 days or greater; determine if account should be considered for legal actions; work closely with skip vendors to resolve via repossession or collection of balance owed.
- Monitor bankruptcy accounts assigned for recovery; skip trace as needed.
- Initiate contact with consumer to negotiate arrangements up to 45 days after the collateral is sold where a deficiency balance is present prior to account being issued to an outside collection agency.
- Adhere to all federal and state laws, regulatory guidelines and internal company policies and procedures.
- Negotiate win-win solutions to assist consumer with acceptable payment options as warranted. Requirements:
- HS Diploma or GED required (some college coursework a plus) followed by preferably five years of Collection experience, ideally in auto finance or an installment loan portfolio including minimum of three years' experience in heavy skip trace.
- Able to work a flexible schedule; honest with strong work ethic, unscheduled absences are rare, always punctual.
- Solid understanding of finance/lending/collections.
- Proficient working knowledge of MS Office Suite.
- Able to master use of web-based system of record (LoanPro) and available skip tools (training provided).
- Energetic, flexible, empathetic, with a positive attitude, with the ability to work well under pressure.
- Strong communication and negotiation skills along with excellent "people" skills and a strong customer service attitude.
- Possess excellent written and verbal communications skills; Bilingual English/Spanish a plus.
- Bankruptcy knowledge a plus. Benefits:
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