Asset Recovery Specialist III

Octane® is revolutionizing recreational purchases by delivering a seamless, end-to-end digital buying experience. We connect people with their passions by combining cutting-edge technology and innovative risk strategies to make lifestyle purchases - like powersports vehicles, RVs, and OPE - fast, easy, and accessible.

Octane adds value throughout the customer journey: inspiring enthusiasts with our editorial brands, including Cycle World® and UTV Driver®, instantly prequalifying consumers for financing online, routing customers to dealerships for an easy closing, and supporting customers throughout their loan with superior loan servicing.

Founded in 2014, we’re a remote-first company with 550+ employees and over 30 OEM and 4,000 dealer partners.

Reporting to the Supervisor for Asset Recovery, the Loss Recovery Specialist III will focus on successfully resolving high balance charged-off skip accounts, skip-to-locate for accounts referred to legal for suit working closely with replevin attorneys, and act as a first line recovery agent for accounts re-entering the collection stream post-sale as a repossession deficiency.  This is a tremendous opportunity to partner with Roadrunner Account Services to build a best-in-class servicing organization for our growing portfolio of Powersport loans.

Specifically, you will:

• Possess advanced skip tracing skills for post charge off accounts and accounts referred for legal remedies
• Recovery on losses by manually conducting outbound and inbound collection and customer service calls
• Investigate and resolve issues generally associated with loan servicing, i.e., potential loss situations such as confiscations, impounds, bankruptcy, replevins, and repossessions
• Provide consistent and productive follow up on Charge Off accounts 120 days or greater; determine if account should be considered for legal actions; work closely with skip vendors to resolve via repossession or collection of balance owed
• Monitor bankruptcy accounts assigned for recovery; skip trace as needed
• Initiate contact with consumer to negotiate arrangements up to 45 days after the collateral is sold where a deficiency balance is present prior to account being issued to an outside collection agency
• Adhere to all federal and state laws, regulatory guidelines and internal company policies and procedures
• Negotiate win-win solutions to assist consumer with acceptable payment options as warranted

Requirements:

• HS Diploma or GED required (some college coursework a plus) followed by preferably five years of Collection experience, ideally in auto finance or an installment loan portfolio including minimum of three years’ experience in heavy skip trace  
• Able to work a flexible schedule; honest with strong work ethic, unscheduled absences are rare, always punctual
• Solid understanding of finance/lending/collections
• Proficient working knowledge of MS Office Suite 
• Able to master use of web-based system of record (LoanPro) and available skip tools (training provided)
• Energetic, flexible, empathetic, with a positive attitude, with the ability to work well under pressure 
• Strong communication and negotiation skills along with excellent “people” skills and a strong customer service attitude
• Possess excellent written and verbal communications skills; Bilingual English/Spanish a plus
• Bankruptcy knowledge a plus

Benefits:

• Robust Health Care Plans (Medical, Dental & Vision)
• Up to 20 Days PTO (accrued)
• Generous Parental Leave
• Retirement Plan (401k with company match).
• Educational Assistance/Tuition Reimbursement up to $3K/year 
• Powersports Safety Benefit
• Life Insurance (Basic, Voluntary & AD&D) & Short Term / Long Term Disability & Life insurance

Octane Lending is an equal opportunity employer committed to providing equal employment opportunity without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, age, disability, or any other protected status with respect to recruitment, hiring, promotion and other terms and conditions of employment. 

Disclaimer: The above statements are intended to describe the general nature and level of work being performed by associates assigned to this classification. They are not to be construed as an exhaustive list of all responsibilities, duties, and skills required of personnel so classified. All personnel may be required to perform duties outside of their normal responsibilities from time to time, as needed.

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