Manager, Asset Recovery and Disposition

Company Summary:

MECU is a not-for-profit financial institution committed to helping its members and community by offering high-quality financial products and services.

MECU's success in empowering our members to improve their financial well-being and live better dates back to 1936. We seek service-oriented professionals that will be champions for our members, treat everyone with respect find ways to assist our members/co-workers and help our community be a better place to live.

WE NEVER COMPROMISE THE MEMBER EXPERIENCE - our goal is to provide the absolute best member experience in all interactions and is the number one factor that we use to differentiate ourselves from our competition.

Position Summary:

Manages the day-to-day responsibilities and activities associated with the recovery and disposition of MECU collateral. With minimal supervision, works to mitigate losses to the Credit Union specializing in the areas of recovery, repossession and REO processes. Acts as liaison between agent(s) and credit union. Negotiates release prices for impounded or abandoned vehicles. Works autonomously and directly with multiple repossession agents to move and prepare vehicles for sale at appropriate auctions. Attends auctions to ensure due diligence is being performed and appropriate bids and value are assigned. Performs dealer analysis to determine any trends in delinquency rates and verifies after-market add-ons, such as warranties, to ensure their validity. Files and tracks insurance claims for payment. Provide representative support for repossessions and REO sales. Prepare monthly reports on the status of our repossession sales and expenses. Provide recommendations for dealer closures due to losses or service issues. Provide support for lending training and provides trends and recommendations. Ensure compliance with all vehicle sales regulations and notices.

Coordinates and orders inspections on REO properties and ensures that all properties are secure. Collaborates with VP for valuation, disposition and repairs and/or maintenance needs of properties. Works with third party maintenance firms to ensure that REO properties are properly maintained (yard maintenance, winterization, etc.). Consults with VP to determine next steps regarding property sales. Prepare monthly reports on the status of our REO sales and expenses.

Manages investor buyers for REO properties to ensure we are getting appropriate bids.

Work Location

This position is located at Corporate Headquarters in Downtown Baltimore. Incumbent will be required to report in office for this role. Upon completion of 90 days incumbent may work hybrid schedule.

Education

• High School Diploma - Required
• General Education Degree (GED) - in lieu of H.S. Diploma

Qualifications:

Required:

• Minimum 5 years of collections or lending experience
• Must be familiar with the vehicle auction process and the recovery of insurance proceeds
• Must be familiar with real estate sales and servicing

Preferred:

• Associates degree

Competencies Required:

• Must possess a strong understanding of local / state laws and regulations governing the repossession and sale of collateral.
• Must possess excellent negotiation skills.
• Must have strong verbal and written communication skills.
• Must have strong analytical abilities and problem solving skills.
• Proficient in MS Office
• Must be detail-oriented and able to multi-task.

Responsibilities / Essential Functions

• Manage the sale and analysis of repossessed vehicles
• Manage the sale of foreclosed properties
• Manage vendor relationships related to repossessions and REO sales
• Manage the retrieval of vehicles from impound or third party
• File and track insurance payments
• File refunds for warranties and add on products
• Special Collections or Lending related projects may be assigned

Compensation:

Salary Range per hour, depending on experience and qualifications

• $30.72 - $46.11

Benefits at MECU Credit Union:

At MECU, we prioritize the well-being and growth of our employees by offering a comprehensive benefits package that includes but not limited to:

• Medical, Dental, and Vision Coverage: Plans are available for both employees and their families to ensure comprehensive health coverage.
• 401(k) Plan with Employer Match: Secure your financial future with our competitive 401(k) plan, including an employer match to help you save more for retirement.
• Company-Paid Insurance: We provide company-paid short-term disability, long-term disability, and life insurance to give you peace of mind.
• Tuition Assistance: Continue your education and professional development with our tuition assistance program.
• Employee Assistance Program (EAP): Access confidential support for personal and professional challenges through our EAP.
• Parking Discounts: Enjoy discounted parking to make commuting easier.
• Long-Term Care Insurance: Prepare for the future with long-term care coverage options.
• Time Off: Take advantage of annual, sick leave, sick and safe leave to recharge and maintain a healthy work-life balance.

Join MECU and enjoy benefits that truly support you and your family.

Physical Demands:

While performing the duties of this position, the successful candidate is regularly required to sit; use hands and fingers to handle objects, tools, keyboards or controls; talk and hear. The employee is occasionally required to stand, walk, reach with hands and arms and stoop or kneel.

Must regularly lift and/or move files and equipment up to 15 pounds and occasionally lift/move up to 25 pound objects. Specific vision characteristics required by this position include close vision, adjust focus, and view a computer screen for extended periods of time.

Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

MECU of Baltimore, Inc. is an equal opportunity/affirmative action employer. All qualified applicants will receive consideration for employment without regard to sex, gender identity, sexual orientation, race, color, religion, national origin, disability, protected Veteran status, age, or any other characteristic protected by law.

MECU conducts credit, bond and background checks.

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