Process Support Specialist II
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 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.
We are currently seeking a qualified Process Support Specialist II to work in our Irving Servicing Center. The successful candidate should be experienced in handling a vast assortment of duties found when working accounts identified as high risk and the administrative processes used to mitigate these potential losses. An experienced Process Support Specialist II will be responsible for collections, necessary investigations/research, account full monitoring, account workflows, charge-off decisions, and detailed tracking of these more complex accounts affected by:
- 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
Handling deceased accounts requires sensitivity, attention to detail, and compliance with legal and company procedures. It's essential to communicate effectively with the deceased individual's family or estate representatives to ensure a smooth and respectful resolution of the account while adhering to applicable regulations and policies.
Total Loss Responsibilities:
- 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.
Managing accounts in total loss situations requires a combination of insurance knowledge, customer service skills, and attention to detail. The Process Support Specialist II plays a critical role in facilitating the resolution process and ensuring that all parties involved are appropriately informed and assisted throughout the process.
Cross-train as back-up:
- Bankruptcy ProcessCharge off
- Repossession Process
The Process Support Specialist II is expected to manage the end-to-end business processes which may include multiple communications with the customer, attorney, executor and/or beneficiary, insurance company, agent, or adjuster. The Process Support Specialist II must demonstrate confident leadership and sound judgment while ensuring all tasks are conducted with a high degree of professionalism while minimizing the company’s exposure to risk.
- 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.
- 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
- Gympass Wellness Benefit
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.