Full-Time

Process Support Specialist II

Posted on 5/9/2024

Octane

Octane

201-500 employees

Provides financing for powersports vehicles

Consumer Goods
Data & Analytics

Mid

Irving, TX, USA

Required Skills
Communications
Requirements
  • Education: A college degree is a plus.
  • Experience: A minimum of two years of experience in collections and/or servicing in the auto finance industry is required. Strong experience in the handling of specialty accounts, and post charge-off accounts is preferred.
  • Problem-Solving: Ability to solve complex problems and provide effective solutions.
  • Communication Skills: Excellent verbal and written communication skills are essential for interacting with various stakeholders.
  • Pressure Handling: Capable of working well under pressure and consistently completing tasks.
  • Flexibility: Willingness to work a flexible schedule, which may include overtime.
  • Computer Skills: Proficiency in MS Office Suite, with a focus on Excel, is necessary.
  • Attention to Detail: Strong attention to detail with the ability to multitask accurately.
Responsibilities
  • Confirm and Notate Date of Death: Confirm and document the date of death
  • Obtain Death Certificate: Obtain a copy of the deceased account holder's death certificate
  • Gather Vital Information: Collect vital information that identifies the point of contact for handling the deceased person's affairs
  • Charge Off Account: Evaluate whether the account should be charged off in accordance with company policy or as directed
  • Assign Account for Repossession: assign for repossession and follow through
  • Monitor and Manage Accounts: Keep a close watch on accounts where the collateral has been determined to be wrecked or stolen. This may include working closely with insurance companies to ensure the proper handling of claims.
  • Point of Contact: Act as the primary point of contact for both the customer (account holder) and the insurance company.
  • Complete Letter of Guarantee: If necessary, complete a Letter of Guarantee.
  • Review Settlement Amounts: Evaluate and review settlement amounts proposed by the insurance company. Negotiate settlements if not adequate to cover balance owed
  • Follow-Up for Resolution: Continuously follow up with the insurance company and the customer to work towards a successful resolution of the total loss situation.
  • Cancel Aftermarket Products: Determine whether any aftermarket products, such as warranties or insurance policies, should be canceled
  • File GAP Claims: If applicable, assist the customer in filing a GAP (Guaranteed Asset Protection) claim to cover the shortfall between the insurance payout and the remaining balance on the loan.
  • Charge Off Account: Evaluate whether the account should be charged off in accordance with company policy or as directed. Provide the customer with an account balance statement as needed.
  • Cross-train as back-up: Bankruptcy ProcessCharge off, Repossession Process

Octane is an excellent place to work for those interested in the fusion of finance and advanced technology. The company specializes in instant financing for powersports vehicles and outdoor power equipment, employing cutting-edge technology and sophisticated risk strategies to enhance the digital buying experience. Employees at Octane thrive in an environment that values innovative approaches to lending and customer service, positioning themselves at the forefront of digital financial services in a niche market.

Company Stage

Series E

Total Funding

$922.9M

Headquarters

New York, New York

Founded

2014

Growth & Insights
Headcount

6 month growth

3%

1 year growth

5%

2 year growth

18%