Overview
Why GM Financial?
GM Financial is the wholly owned captive finance subsidiary of General Motors and is headquartered in Fort Worth, U.S. We are a global provider of auto finance solutions, with operations in North America, South America and the Asia Pacific region. Through our long-standing relationships with auto dealers, we offer attractive retail financing and lease programs to meet the needs of each customer. We also offer commercial lending products to dealers to help them finance and grow their businesses.
At GM Financial, our team members define and shape our culture - an environment that welcomes new ideas, fosters integrity and creates a sense of community and belonging. Here we do more than work - we thrive.
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Our Purpose: We pioneer the innovations that move and connect people to what matters
Responsibilities
About the role:
Under direct supervision of the Loss Mitigation Team Leader, the Loss Mitigation Account Representative performs recovery efforts to minimize losses on accounts that are identified as impounds, total loss or substitution of collateral. In addition, this team member may have responsibility for expired loans or other small balance accounts. This team member has contact with customers, insurance agents, repossession agents and other outside agencies.
In this role, you will:
- Review and monitor all total loss, impounds, substitution of collateral or expired loan queues on a daily basis
- Properly document all account activity in the computer system
- Assist insurance adjusters with requests, questions and problems regarding any pending claim settlements
- Initiate contact with customers or agencies in an effort to negotiate payments or to satisfy any deficiency balances; Calls are generated by manual dialing and by predictive dialer
- Recommendations to repossess or abandon impounds by assessing the value of the vehicle vs any storage/repair/repossession fees
- Prepare Repossession Assignment Cover Sheet (RACS) and ensure all actions comply with all federal and state regulatory requirements
- Assess the value of vehicles and ensure coordination between the customers and dealerships on substitution of collaterals
- Maintain losses at or below established guidelines for assigned job duties
- Recommend settlements as circumstances warrant
Qualifications
What makes you a dream candidate?
- Basic knowledge of vehicle titles and state DMV regulations
- Basic knowledge of the collection policies and procedures and be familiar with the Fair Debt Collection Practices Act
- Good oral and written communication skills
- Ability to perform basic arithmetic calculations in order to perform duties described above
- Accurate typing and data entry skills
- Ability to operate standard office equipment and demonstrate competency in the use of standard software applications
- Excellent negotiation skills
- Interpersonal skills necessary to promote a cooperative team environment and provide good customer service
Education & Experience
- High School Diploma or equivalent required
- Bachelor's Degree preferred
- 0-2 years Previous collections experience preferred
What We Offer: Generous benefits package available on day one to include: 401K matching, bonding leave for new
parents (12 weeks, 100% paid), tuition assistance, training, GM employee auto discount, community service pay and
nine company holidays.
Our Culture: Our team members define and shape our culture - an environment that welcomes innovative ideas,
fosters integrity, and creates a sense of community and belonging. Here we do more than work - we thrive.
Compensation: Competitive pay and bonus eligibility
Work Life Balance: Flexible hybrid work environment, minimum of 2-days a week in office
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Salary
The starting pay for this role is: USD $22.00/BiWk. At GM Financial, we strive for transparency in all aspects of our business, including pay equity. This is the GM Financial pay range for this role and job level. The exact salary and compensation will vary based on factors like knowledge, skills, experience, and education. This role is eligible to participate in a performance-based incentive plan. Full time employees are eligible to participate in health benefits on day one of employment.