Pentech Financial Services, Inc., a leader in the B-C commercial credit market, provides middle and small ticket equipment lease financing to businesses nationwide. The company is headquartered in Campbell, CA, with the small ticket funding division located in San Diego, CA.
Founded in 1978, Pentech has provided over a billion dollars in financing to a wide range of businesses and industries with a primary focus on small ticket leasing.
GENERAL FUNCTION:
Responsible for managing recovery and resale of assets maximizing Pentech’s recovery while minimizing holding period.
Establishes proper equipment values and efficient follow up procedures with third party remarketing firms providing for quick turn around for recovery and sale of assets.
Utilizes expertise in repossession of equipment, establishing estimated resale value, remarketing of assets, leasing and sound business practices to ensure that prudent judgment is exercised at all times.
Contributes to Pentech’s success through effectively working with internal staff, third party recovery and remarketing firms, law firms and various Internet search tools.
Duties & Responsibilities:
Manage and track recovery firm repossession efforts decreasing repossession time from assignment to recovery while minimizing expenses.
Establish estimated net sale proceeds for recovered equipment based on equipment type, condition of equipment and market value.
Develop contacts and information sources through remarketers, appraisers and vendors.
Manage remarketing firm efforts to sell recovered assets for an amount that maximizes net sale proceeds, decrease turn around time and that the equipment is sold in a commercially reasonable manner.
Develop internal database of values for various equipment types.
Provide testimony as needed for Pentech’s deficiency balance lawsuits.
Assist time to time in establishing equipment value prior to approval and funding of new transactions.
Provide assistance in preparing month end reports.
Perform other duties as assigned by Management.
MINIMUM KNOWLEDGE, SKILLS AND ABILITIES REQUIRED:
College degree and/or equivalent work experience.
Minimum five (5) years of senior level lease or loan repossession and remarketing experience for various equipment types.
Strong organizational and interpersonal skills.
Proven negotiation skills.
Ability to research and recognize problems.
Proficient in Excel, Word and Outlook.
Experience and knowledge of repossession and remarketing processes.
Ability to work in a team environment, presenting a professional image at all times.
Excellent verbal and written communication skills.
Strong analytical and decisive decision-making skills.
Demonstrated direct accountability, broad understanding and practical application of multi-state repossession and collection laws and practices.
Ability to manage multiple projects concurrently with daily business operations.
Ability to multi-task and be flexible.
Ability to work independently with minimal direction from management.
BENEFITS:
Pentech offers a comprehensive package of competitive benefits including: medical, dental, vision and life insurance, and a company matched 401(k) plan. Relocation assistance may be considered for out of area candidates.
Navistar Financial Corporation is the wholly-owned finance subsidiary of Navistar (“International”), whose parent company is Navistar, Inc. Navistar Financial Corporation helps customers by providing transportation financing options for International customers and dealers and select trailer customers and dealers with dependable, consistent service and knowledge. The company is headquartered in Schaumburg, Illinois.
The Loss Recovery Specialist is responsible for all retail/lease repossession and off-lease assets from initial set up to final sale and closeout. Responsible for file review and customer/guarantor notification, loss allocation, pricing, sale venue, UTC interface and assigning repossessed assets, logistics and settlement. Key interface to FSC, Dealers and UTC.
Responsibilities:
Complete file review for all perspective recoveries for compliance with state laws prior to commencing actions.
Insure notification, etc. is timely and complete to all customers and guarantors.
Negotiate settlements to insure maximum recovery of deficiency.
Complete asset searches; skip trace, etc. to maximize recoveries.
Hire counsel as needed to file claims, judgments, etc.
Prepare and maintain summary reports of collection results for analyzing results.
Interface with:
NFC lessees and customers
Regional Finance Offices
Used Truck Centers and Used Truck Organization
NFC Dealers
3 rd party appraisals, repossession agencies
Attorneys
Bankruptcy courts
Navistar accounting center
Requirements:
Bachelors Degree or at least 6 years of Transportation Finance or Credit Collections experience.
At least 3 years of Transportation Finance experience.
At least 3 years of Credit Collections experience.
Positive Attitude, Ethics and International Values which support our company’s values, and a healthy, high performance culture.
Desired Skills:
Direct customer contact experience (via telephone or face-to-face).
Knowledge of company systems applications (CIS/CAS, Finance Tools, Lease Trac, Focus).
Knowledge of truck and Trailers and specifications.
Ability to Negotiate settlements.
Ability to analyze customer financial situations.
We offer benefits that command attention, including competitive compensation, healthcare benefit options, work-life balance, vacations, holidays, employee assistance program, and many more.
Please visit our website for more information on the above and additional opportunities, and apply online to above listed keyword search “loss recovery” at:
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