Loan Operations Specialist
SUMMARY:
The Loan Operations Specialist monitors all secured vehicle liens filings to ensure the credit union is listed as lien holder and receives the title in a timely manner. The ideal candidate will possess a strong knowledge of all loan products and the necessary documents that complete loan packages.
ESSENTIAL DUTIES AND RESPONSIBILITIES
- Accurately and efficiently process all loan transactions, including loan payments, payoffs, new loan disbursements, general ledger transactions, and ancillary product disbursements.
- Performs quality control reviews of all consumer loan types (Direct & Indirect) to ensure accuracy in accordance with all credit union policies and procedures.
- Ensures that the data on titles is accurate and up to date.
- Interacts with and maintains an open line of communication with members, extensive auto dealer base, various motor vehicle agencies in multiple states (Primarily CT) as well as other external agencies to ensure timely follow through on pending titles and problem resolution.
- Generates paid loan reports; prepares and sends title or applicable lien release notification to members who have completed their contractual obligation.
- Processes loan payoff transactions for dealers, prepares and sends title or applicable release to appropriate parties while ensuring the receipt of proper borrower authorization.
- Responsible for the recording and tracking of Uniform Commercial Code (UCC) filings for non-titled vehicles in various states to perfect the credit union lien position.
- Assist in the development and implementation for ongoing process improvements to ensure the effectiveness of the overall title processing functions.
- Process documentation for insurance providers regarding the guarantee requests for total losses as well as transact payoff checks from insurance providers.
- Complete the requirements associated with removal, refunding and claims for GAP insurance.
- Conducts a thorough review of information regarding debt protection claims and refunds.
- Investigate and respond to any and all discrepancies, disputes, or requests from members or colleagues.
- Assume additional responsibilities as requested by management.
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.