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Porterville

    Collateral Clerk - Porterville, United States - Beneficial State Bank

    Beneficial State Bank
    Beneficial State Bank Porterville, United States

    2 weeks ago

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    Description
    Our ideal candidate: We are seeking candidates deeply committed to our mission: to transform the banking industry from within. We lead by example, collaborate with and invest in change-makers and build sustainable prosperity in our communities.

    Who we are: Beneficial State is one of only a handful of B-Corp banks in the nation and one of the highest-rated B-Corps on the planet. That means that we subscribe to a rigorous evaluation standard that measures our positive impact, not just our profitability. We demonstrate how a bank can combine social equity, environmental sustainability, and business stability to create a better financial system - a system that drives inclusive prosperity to benefit people and the planet. #BCorp #WeAreBCorps

    Join our team: If you are ready to do challenging and transformative work that will build a brighter future for us all, and you are hungry to bring your passion and energy to the table, we welcome your application.

    SUMMARY

    The Collateral Clerk is responsible for repossession assignments, determining the value of vehicles within the market, recondition units as required, validate insurance claims and coordinate sales efforts with Auctions. Providing and maintaining reports as directed and knowledgeable of policies and procedures that are applicable to remarketing and collection activities, and all other collateral recovery related duties. This position is a unionized position through the Communication Workers of America.

    ESSENTIAL DUTIES
    • Ensures compliance with all state and federal regulations and internal company policies, including but not limited to BSA / Anti-Money Laundering, Fair Lending, Privacy, and Anti-Discrimination, to the extent each applies to current job responsibilities
    • Completes all online compliance training as assigned within specified due dates
    • Punctual, regular, and consistent attendance
    ASSIGN FOR REPO
    • Make sure no arrangements have been made, no pending payments, vehicle is worth recovery and repossession makes sense
    • Check SCRA and PACER websites
    • Determine which company it will be assigned to
    CANCEL REPO
    • Verify the reason repo was cancelled
    REPO UPDATES
    • Update account once repo updates are received
    • Maintain communication with Repo companies for repo updates as needed
    • If repo company runs out of good information a skip trace may be requested
    • Update repo companies with any new info
    • Reassign repo orders if needed
    • Review for possible skip order if needed
    REPOSSESSIONS
    • Determine if reinstatement allowed or if redemption (Redemption requires 2nd look)
    • Assess all necessary repossession fees to account
    • Note account with all the repossession information
    • Complete notice of Intention (NOI
    • Verify all accounts have been updated with proper Alert codes
    CUSTOMER FOLLOW UPS
    • Provide world class customer service
    • Once repossessed, if customer does not attempt to contact us we will call customer.
    • If contact is made and customer informs us they are not interested in reinstating, we arrange for transport immediately
    • If contact is made and customer is interested in reinstating, we inform them of reinstatement procedures, total amount due, storage rates, 10- day extension ( if needed)
    • Provide releases to storage facilities after reinstatement process has been completed.
    PAYMENT REMINDER DEVICES
    • Determine if account qualifies for Crossbow installation
    • Make sure account is paid current
    • Verify customer has signed Payment Reminder Device Disclosure
    • Make an appointment to install Crossbow Reminder Device
    • Log Crossbow Reminder Device Serial #
    • Test device prior to releasing vehicle to customer
    • Loan and Loan Terms into website and update Alert Code in Core System
    • Contact Customer
    INVOICES
    • Verify fee
    • Ensure each account is noted and fees are assessed as warranted
    • Submit invoice to Accounts Payable through Banktel website
    INSURANCE
    • Verify if account has insurance
    • Insurance Claims Submission
    • Insurance Claim Follow-ups
    • Update Core with information and proper alerts
    • Insurance Check Posting
    • Surplus Letter *if applicable
    • Deficiency Letter *if applicable
    • Ancillary products claims/cancellations
    IMPOUNDS
    • Determine if collateral is worth repossession
    • Create the required paperwork needed to retrieve vehicle from tow yard
    If Collateral is not worth repossessing:
    • Note account with substantiating information
    • Update alert code
    • Upload pictures if available
    • Submit request to abandon if needed
    TRANSPORT
    • Order transport of vehicle to appropriate auction
    • Complete certificate of repossession
    • Provide release to storage facility
    • Note account
    • Request Consumer Loan Support to mail the title and Certificate of Repossession to auction
    AUCTION
    • Enter account #'s
    • Enter eligible dates
    • Check condition report: File claim if needed or place hold
    • Floor Vehicles
    • Approve/ Deny Recon vehicles
    • Accept/decline/counter offers
    AUCTION CHECKS
    • Verify sale price
    • Verify deductions are correct
    • Update Alert on Core System
    • Post Auction Checks
    • Create deficiency letter, if applicable
    • Create surplus letter if applicable
    • Provide legal department with list of all accounts which require a deficiency balance letter to be completed
    MINIMUM REQUIREMENTS
    • High School diploma.
    • Excellent communication skills.
    • Strong experience with customer service.
    • The ability to perform basic mathematical functions.
    • Knowledge of collection and repossession laws desirable
    • The ability to set goals and meet deadlines.
    • Basic computer skills.
    • Able to function in a fast-paced work environment.
    • Bilingual (English/Spanish) preferred
    BENEFITS: What is the benefit package for this role? Beneficial State Bank's benefits include a comprehensive package designed to support you and your eligible dependents. We focus on the holistic health of our team members and promote work-life balance.

    Our benefit package includes:
    • Medical / Dental / Vision / Basic Life / STD / LTD
    • Vacation Days: 2-4 weeks depending on role
    • Sick Days: 12 days per year
    • Holidays: 11 days per year
    • 401(K) / ROTH / FSA / HSA / EAP
    • Education and Adoption Assistance
    • Bank-Wide Annual Discretionary Bonus Program
    • Production-based incentive program available for some roles.
    • Paid Volunteer Time: 4 days per year / annual match of qualifying employee donations
    • Paid Sabbatical Program after 5 years of service
    • Pet Benefits
    For detailed information about our benefits, please visit

    You are welcome here at Beneficial State Bank. We are an equal opportunity employer and all qualified applicants will receive consideration for employment regardless of race, color, religion, sex, sexual orientation, national origin, gender identity, disability or veteran status.