Loan Adjustment Services Specialist

Strata Credit Union•Bakersfield, CA

15h•Onsite

About The Position

The Loan Adjustment Services Specialist provides a variety of clerical support for the Loan Adjustment Department. This role is responsible for supporting the department's functions, which include processing various claims, managing queues, overseeing insurance processing, submitting claims, preparing and sending notices, initiating vehicle repossessions, coordinating with auctions, monitoring general ledgers, preparing collection notices, compiling files for third-party agencies, processing payments for bankruptcy and debt management plans, processing charge-offs, submitting and following up on field assignments, and managing warranty and GAP cancellation requests for repossessions. The specialist is also required to complete mandatory BSA training annually, maintain knowledge of credit union policies and regulations, and achieve department goals.

Requirements

Working knowledge and understanding of credit union loan policies and procedures
Working knowledge and understanding of state and federal laws and regulations pertaining to collections
Strong organizational skills
Strong communication skills
Ability to work effectively with staff and members
Ability to contribute to a cohesive work environment
High school education or G.E.D equivalency certificate

Responsibilities

Process Debt Protection, GAP, and MRC claims
Prepare and mail deficiency letters
Manage the negative share queue
Oversee all aspects of Collateral Protection Insurance (CPI) processing
Submit claims through Lenders Protection
Prepare and send Notice of Intent to Sell letters
Enter member information into RDN to initiate vehicle repossession
Order titles for repossessed vehicles and coordinate with auction
Monitor the collection suspense general ledger for auction proceeds and apply funds to corresponding loans
Prepare and mail collection notices as needed
Compile and upload files to third-party collection agencies
Process payments received for Chapter 13 bankruptcy and Debt Management plans
Process charge offs and prepare reports for the board book
Submit and follow-up with chase field assignments as needed
Manage all warranty and GAP cancellation requests for repossessions
Complete mandatory BSA training annually
Maintain a thorough working knowledge of credit union policies and procedures and current laws and regulations as related to all job functions
Achieve department goals as assigned by supervisor and/or management
Additional loan adjustment duties as assigned by supervisor and/or management