Loan Operations Specialist
Vibrant Credit Union•Moline, IL
•$19 - $27•Onsite
About The Position
The Loan Operations Specialist will assist in all functions of consumer loan operations. This role will serve as an expert in payoff processing, GAP/Warranty claims and insurance tracking, and account verification. This role will also provide the highest level of service to members needing to perform maintenance on their loans.
Requirements
- High School Diploma or General Education Degree required
- Basic knowledge of core banking systems, phone and ticketing systems, and loan servicing systems to complete tasks
- Basic knowledge of loan servicing compliance requirements
Nice To Haves
- Six months experience working at a financial institution is preferred
Responsibilities
- Process total loss claims, Skip a Pay on eligible retail products, and EFT payments
- Answer inquiries and verify data with third-party insurance providers and provide proper documentation through appropriate channels
- Complete CPI-related claims/refunds/exceptions on all loans and products
- Execute payment reversals and receivable corrections on all loan products
- Process consumer loan payoff payments, product cancellations refunds, and repossession recovery payments
- Complete and provide members with Adverse Actions
- Complete Serviceman Civil Relief Act (SCRA) requests, maintenance, and compliance
- Review and respond to credit disputes from credit reporting agencies through third-party vendor
- Responsible for sorting incoming mail to the proper department
- Generate loan-specific reports from core system as requested by management
- Able to complete bankruptcy support, reports, and DNA maintenance
- Review and process product cancellations on indirect auto loans that have been paid off early, repossessed, or declared a total loss by a member’s insurance carrier
- Calculate unearned premium refunds based on pro-rata or Rule of 78’s methods as specified per each contract and applicable state regulations
- Initiate cancellation requests directly with GAP, VSC, MBP, CLDI, and other ancillary product providers and track submissions thoroughly to receipt of refund or credit
- Apply refund proceeds correctly to outstanding loan balances, member accounts, or issue refund checks in accordance with credit union policy and state law
- Complete loan file document maintenance and clean up
- Administer rate maintenance on loans and products
- Resolve assigned tickets meeting Service Level Agreements
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What This Job Offers
Job Type
Full-time
Career Level
Mid Level
Education Level
High school or GED
