Field Service Collateral Representative, 18 month assignment
Wells Fargo provides middle market, large corporate and financial institution customers with a range of financing solutions, including treasury management, credit, payments, financing, foreign exchange, and trade services. Wells Fargo operates in 42 countries and territories outside of the U.S., including branches in Beijing, Cayman Islands, Dubai International Financial Center (DIFC), Hong Kong, London, Seoul, Shanghai, Singapore, Taipei, Tokyo, and Toronto.
Wells Fargo Commercial Distribution Finance (CDF) is a leading provider of specialized financing and servicing programs that facilitate the manufacture, distribution and sale of consumer home products, technology products, recreational vehicles, motorsport, watercraft, manufactured homes and industrial equipment. Through customer focus, industry specialization and common goals, we partner with manufacturers to provide value to the distribution chain.
As an FSR, you will: Verify dealer compliance with CDF inventory security agreements and program letters by conducting physical collateral inspections and related audits of books and records; identify and report problems, as well as potential business opportunities. Represent the company in an assigned territory and maintain professional relationships with CDF's customer (dealer) base.
- Perform physical inspections of dealers' inventories and reconcile with CDF records through effective communications with account managers/appropriate customer representatives.
- Assess condition of collateral; promptly and accurately report findings via daily upload to confirm CDF's collateralized position.
- Collect funds on behalf of CDF for charges, curtailments, sold and unpaid units, mature items, deductibles, demonstrators, service charges, insurance charges or other miscellaneous charges.
- Audit/examine dealers' records in order to ensure compliance with CDF's repayment and/or remittance agreements.
- Identify and promptly report discrepancies/deviations to territory manager and/or account managers/appropriate customer representatives.
- Communicate adjustments or account problems related to misapplied/unapplied funds, credit balances and/or disputed payments to territory manager and, account managers/appropriate customer representatives both verbally and in writing.
- Plan effective routing of inspections to ensure maximum risk containment with minimal input from territory manager. Conduct repossessions and collateral reclamations based upon audits of dealers' records.
- Obtain financial statements, insurance binders and other pertinent documentation from dealers as needed.
Market Skills and Certifications
- Proficient in the use of PC/Microsoft Office
- 2+ years of experience in one or a combination of the following: risk management, accounting, auditing, credit assessment or a BS/BA or higher
- Excellent communication skills- interpersonal, oral and written
- Strong problem solving and mathematical skills
- Outstanding organizational skills
- Outstanding customer service skills
- Self-starter with high attention to detail and accuracy
- Ability to work independently with minimal supervision, as well as in a team environment
- Ability to drive for extended periods of time
- Frequent overnight travel
- Clean driving record
* Mileage reimbursement is provided with all work related expenses being paid by the company
- Bachelor's degree
- 1+ years of auditing/collections experience
- Knowledge of floor planning in the financial services industry
Wells Fargo team members support our focus on building strong customer relationships balanced with a strong risk mitigating and compliance-driven culture which firmly establishes those disciplines as critical to the success of our customers and company. As a Wells Fargo team member, you are accountable for execution of all applicable risk programs (Credit, Market, Financial Crimes, Operational, Regulatory Compliance), which includes effectively following and adhering to applicable Wells Fargo policies and procedures, appropriately fulfilling risk and compliance obligations, timely and effective escalation and remediation of issues, and making sound risk decisions. There is emphasis on proactive monitoring, governance, risk identification and escalation, as well as making sound risk decisions commensurate with the business unit's risk appetite and all risk and compliance program requirements.
At Wells Fargo, we believe in diversity and inclusion in the workplace; accordingly, we welcome applications for employment from all qualified candidates, regardless of race, colour, gender, gender identity, sexual orientation, national or ethnic origin, age, disability, religion or any other status protected by applicable legislation, including women, persons with disabilities, aboriginal peoples and visible minorities. Accommodation for applicants with disabilities is available upon request in connection with the recruitment process.
Meet Some of Wells Fargo's Employees
Lauren audits Wells Fargo’s financial reports to assess accuracy and risk. She reviews processes in place, analyzes management controls, and communicates calculations and findings with business partners.
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