Repossession Manager - Wayne, NJ
 Valley National Bank | |
 United States, New Jersey, Wayne | |
 Jul 21, 2025 | |
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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. | |