Company: Valley Bank
Location: Wayne, NJ
Career Level: Associate
Industries: Banking, Insurance, Financial Services
Description
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.
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