Collection Clerk

I Bankonline; Memphis, Northern (TN, KY); Hybrid; USD 32,000 - 42,000; Full time

Job summary

Independent Bank is seeking a Collection Clerk in Memphis, TN, to initiate refunds for financed products on repossessed or total loss accounts. The role supports the Open Lending Team and ensures adherence to bank policies and regulatory requirements.

The ideal candidate has 1–2 years in collections or bank operations, strong communication and math skills, and the ability to multitask in a fast-paced environment. High school diploma or equivalent is required.

Qualifications

• 1-2 years in collections or bank operations preferred.
• Ability to prioritize in a fast-paced, high-volume environment with minimal supervision.
• Basic knowledge of Windows operations.
• Ability to type 30-35 wpm.
• Demonstrated ability to multitask.
• Excellent verbal and written communications and math skills.
• Must possess a high school diploma or equivalent / some college preferred.

Responsibilities

• Generate refund request letters to dealerships and/or insurance companies for repossessed or total loss accounts.
• Follow up with dealerships and/or insurance companies via email or phone if refunds are not received within 14 days.
• Track and record funds received; prepare status reports for the Asset Remarketing/Recovery Manager; scan documents into imaging system.
• Assist the Open Lending Team with filing claims and reporting.
• Other duties as assigned or required.

Skills

Collections experience

Bank operations

Fast-paced environment

Windows basics

Typing speed 30-35 wpm

Multitasking

Verbal & written communications

High school diploma or equivalent

Education

High school diploma or equivalent

Job description

Description

JOB SUMMARY

The Collection Clerk will initiate contact with dealers and insurance companies to request refunds for financed products, such as GAP Insurance, Extended Warranties, and Maintenance Agreements, for accounts in which the bank has repossessed the vehicle or the customer’s insurance company has deemed the vehicle a total loss. This position will also assist the Open Lending Team with filing claims or reporting. The Collection Clerk must adhere to all Bank policies, procedures, and compliance regulations.

SKILLS REQUIRED

• 1-2 years of experience in collections or bank operations preferred
• Ability to prioritize in a fast-paced, high-volume environment with minimal supervision
• Basic knowledge of Windows operations
• Ability to type 30-35 wpm
• Demonstrated ability to multitask
• Excellent verbal and written communications and math skills
• Must possess a high school diploma or equivalent / some college preferred

PRIMARY DUTIES

1. Generate refund request letters to the dealerships and/or insurance companies for any repossessed or total loss accounts.
2. Follow up with dealerships and/or insurance companies via email or phone calls if refunds are not received within 14 days.
3. Track and record funds received. Prepare status reports for the Asset Remarketing/Recovery Manager. Scan all documentation into the Document Imaging System.
4. Assist the Open Lending Team with filing claims and reporting.
5. Other duties as assigned or required

Independent Bank is an EO/AA Employer – M/F/Vets/Disabled