What are the responsibilities and job description for the Loan Operations Specialist position at Greater Iowa Credit Union?
Loan Operations Specialist Perform does a variety of maintenance and servicing functions for consumer loan and account files. This includes data validations and updates, recoveries payment processing, ancillary lending product claims and Privileged Courtesy Pay program. Loan Operations Specialist will also help with the payment and deposit processing, while following all processes and procedures in accordance with state and federal regulations.
Location: 1509 Baltimore Drive, Ames, IA 50010
Hours: Monday - Friday 8am to 5pm
Essential Functions & Responsibilities:
- Alert credit reporting agencies of discrepancies or issues. Review and respond timely to Credit Reporting Disputes for more timely responses to ensure accurate reporting data.
- Improve member service communication with cure notices, collection letters, returned checks, skips/subs, payment processors, loan payments and/or deposits. Accurately process mail and mailed loan payments and/or deposits and complete the necessary forms for loan payoffs' as needed.
- Managing systems data and making necessary calls to members for early stage delinquent loans, Collateral Protection Insurance, Debt Protection, GAP, Lender's Protection and related programs. Process claims and review necessary reports for accuracy.
- Monitor Privileged Courtesy Pay program, including notifying members as needed. Close negative accounts in accordance with regulatory requirements. Notify and monitor accounts for closure in conjunction with losses incurred or fraudulent activity. Enter relevant account data to Chex Systems.
- Oversee the recoveries and payments received consumer credit counseling, collection agencies, legal proceedings, and restitution. Monitor in-house collection arrangements for timely repayment and re-assignment to partner collection agencies in accordance with procedures. Responsible for collection agency communications and file maintenance.
- Assist with compiling and updating various information and documents for legal requests and collateral liquidation. Cross train for support to other Loan Operations Functions as needed.
- Other duties as assigned.
Knowledge and Skills:
Experience: Three years to five years of similar or related experience.
Education: A high school education or GED.
Interpersonal Skills
Work involves much personal contact with others inside and/or outside the organization for the purpose of first-level conflict resolution, building relationships, and soliciting cooperation. Discussions involve a higher degree of confidentiality and discretion, requiring diplomacy and tact in communication.
Other Skills
1. Ability to recognize and identify deficient consumer lending and courtesy pay trends.
2. Exhibit strong written and verbal communication skills.
3. Ability to present information with diplomacy and tact.
4. Working knowledge of Microsoft Office software applications.
5. Ability to work effectively with outside vendors, members and internal staff.
6. Ability to operate standard office equipment. Keyboarding skills.
Physical Requirements:
The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
While performing the duties of this job, the employee is regularly required to sit. The employee frequently is required to stand; walk; use hands to finger, handle, or feel; reach with hands and arms; and talk or hear. The employee is occasionally required to climb or balance. The employee must frequently lift and/or move up to 25 pounds and occasionally lift and/or move up to 30 pounds. Specific vision abilities required by this job include close vision, and ability to adjust focus.
Work Environment:
Work is performed in a standard office environment with a quiet to moderate noise level.The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
