Loan Support Specialist

📋 Description

• This role involves providing thorough administrative and member support across the entire loan life cycle, ensuring consistent service throughout all phases.

• Offers assistance to credit union departments and members with in-depth knowledge of loan products, essential credit union functions, policies, procedures, and compliance with state and federal regulations.

• Plays a vital role in the loan life cycle, enhancing operational efficiency and member satisfaction.

• Takes initiative to resolve both direct and indirect credit disputes by reviewing and confirming data, including the Metro 2 file and core and collection software, to ensure accurate loan reporting.

• Manages loan modifications, restructurings, payment reversals, and payment processing with advanced proficiency in the core system.

• Communicates effectively with members and frontline staff, providing clear explanations and support to ensure smooth loan servicing operations and improve the overall member experience.

• Oversees insurance functions, including CPI for consumer and commercial loans, GAP, PPP, Letters of Guarantee, and storage requests.

• Works closely with insurance carriers and dealerships during the insurance claim process to guarantee efficient and accurate claims resolution.

• Addresses escalated member issues with professionalism, clear communication, and a focus on minimizing risks to the credit union, ensuring prompt and effective solutions while fostering positive member relationships.

• Manages the charge-off process by preparing loans and shares for transfer to a third-party collection agency, ensuring accuracy and compliance at every step.

• Develops and sustains a collaborative relationship with the agency, supplying necessary documentation to support legal actions and judgment proceedings.

• Supervises the addition of collection-related expenses, ensuring all charges are correctly applied and do not compromise the integrity of the loan’s structure.

• Manages recoveries and updates ChexSystems records when accounts are paid in full, ensuring accurate reporting and resolution.

• Identifies and rectifies systemic core errors to uphold data integrity and ensure seamless operations.

• Oversees reporting and general ledger (GL) processes, addressing discrepancies promptly to mitigate potential risks.

• Conducts audits of enterprise content management systems, including loan terms, to ensure accuracy and maintain documentation integrity.

• Regularly reviews daily, weekly, and monthly reports, identifying inaccuracies and implementing corrective measures to ensure the accuracy of member loans and reduce future risks.

• Responds to inquiries on the Loan Support hotline from frontline staff and members, as well as requests via email, ticketing systems, and instant messaging.

• Utilizes expert knowledge of the core system and loan products to effectively navigate complex transactions and address escalated situations, providing accurate, timely, and professional support.

• Manages the processing of payoff checks from insurance companies, dealerships, and title companies, ensuring vehicle titles are accurately released to the appropriate parties.

⛳️ Requirements

• A minimum of three (3) years of experience in a financial institution is preferred.

• Highly adept at identifying, troubleshooting, and resolving complex transactions while ensuring both accuracy and efficiency.

• Familiarity with, or the ability to learn, the credit union’s core and ancillary systems to perform the role effectively, such as Symitar, Loans PQ, and Tenemos systems.

• Knowledge of principles and processes for delivering member services, including assessing member needs, meeting service standards, and evaluating member satisfaction.

• Proficient in a variety of office administration systems, business communication, and software applications.

• Understanding of, or ability to learn, federal, state, and local laws, statutes, regulations, codes, and standards related to the area of responsibility.

• Skilled in performing basic mathematics and accounting tasks.

• Ability to comprehend loan products, loan processing procedures, and regulatory requirements.

• Capacity to recommend programs and processes to enhance efficiencies.

• Commitment to staying current with industry and regulatory changes and trends.

• Ability to handle sensitive member information securely, maintaining strict confidentiality.

• Strong communication and interpersonal skills to effectively assist members with loan inquiries, issues, and information.

• Exercise sound judgment to resolve member issues or escalate them appropriately to ensure member satisfaction.

• Capability to manage multiple loan files concurrently and meet deadlines in a fast-paced environment.

• Proficient in accurately inputting and managing data within loan processing software.

• Ability to prepare and review loan documents, ensuring all necessary paperwork is completed and compliant with regulations.

• Ability to analyze loan details, identify potential risks, and propose solutions to minimize issues during the loan process.

🏝️ Benefits

• We offer an additional $2.00 per hour bilingual differential for employees who can effectively support our members' financial needs in a second language, subject to verification of proficiency in financial terminology.

• Compensation decisions are made based on factors such as relevant job-related skills, experience, and education or training. If an offer of employment is extended, individual qualifications will be taken into account. In addition to your salary, performance-based compensation incentives are available for the selected candidate, with targets varying by role.

• Medical, Dental, and Vision insurance is fully covered by the company for employee-only coverage.

• Health Care FSA (HCFSA)

• Health Savings Account (HSA) with employer contributions

• Dependent Care FSA (DCFSA)

• Life and AD&D insurance

• 401k plan

• Full-Time Regular employees earn 8 hours of vacation and 8 hours of sick leave each month.

• 11 paid holidays throughout the year

• 1 floating holiday

• 16 hours of self-care time

• 16 hours of volunteer time