What are the responsibilities and job description for the Personal Finance Specialist I position at Navy Federal Credit Union?
Overview
To provide consultative financial counseling and debt management services for the membership to mitigate financial loss to Navy Federal Credit Union. Work on assignments that are semi routine in nature. Follow established procedures, requiring limited instruction on new assignments. Work under minimal supervision.
Responsibilities
Locations: 820 Follin Lane Vienna, Virginia 22180 | 5550 Heritage Oaks Dr. Pensacola, FL 32526 | 141 Security Drive Winchester, VA 22602
About Us
You have goals, dreams, hobbies, and things you're passionate about—what's important to you is important to us. We're looking for people who not only want to do meaningful, challenging work, keep their skills sharp and move ahead, but who also take time for the things that matter to them—friends, family, and passions. And we're looking for team members who are passionate about our mission—making a difference in military members' and their families' lives. Together, we can make it happen. Don't take our word for it:
Disclaimers: Navy Federal reserves the right to fill this role at a higher/lower grade level based on business need. An assessment may be required to compete for this position. Job postings are subject to close early or extend out longer than the anticipated closing date at the hiring team’s discretion based on qualified applicant volume. Navy Federal Credit Union assesses market data to establish salary ranges that enable us to remain competitive. You are paid within the salary range, based on your experience, location and market position
Bank Secrecy Act: Remains cognizant of and adheres to Navy Federal policies and procedures, and regulations pertaining to the Bank Secrecy Act.
To provide consultative financial counseling and debt management services for the membership to mitigate financial loss to Navy Federal Credit Union. Work on assignments that are semi routine in nature. Follow established procedures, requiring limited instruction on new assignments. Work under minimal supervision.
Responsibilities
- Provide financial counseling and administer debt management services for members
- Interview members to assess their financial situation and determine the appropriate level of counseling required (e.g. productive, preventive, or remedial)
- Provide budgetary counseling and assist with developing personal budgets; determine member's qualifications for Personal Finance Management assistance programs
- Actively listen to member's unique financial situations; ensure interactions are not perceived as cross- selling opportunities or preferential treatment
- Analyze member debts to Navy Federal Credit Union and other creditors
- Restructure credit terms and conditions for debt repayment; calculate payment offers and employ negotiation tactics; submit to senior team member/leadership for approval
- Recommend loan and/or credit card extensions, reduced interest rates, and refinances; submit to management for approval
- Counsel members through difficult decisions, including bankruptcy filings, by recommending alternative solutions
- Process payment reversals and submit closure for revolving lines of credit
- Review data in system; research missing payments
- Initiate and/or respond to members, vendors, and other financial institutions via various communication channels
- Ensure compliance with internal and external documentation and disclosure requirements
- Ensure member contact information is up to date; and detailed, chronological records are maintained on each member interaction, including actions taken
- Present personal finance management and budgeting class/workshop presentations
- Stay abreast of and ensure compliance with applicable federal and state laws, rules, and regulations to include to include Regulation B and Regulation Z ), Truth in Lending criteria, UDAAP, and FDCPA guidelines
- Participate in continuing education training pertaining to financial literacy and education
- Perform other duties as assigned
- Experience in the financial services industry, preferably operations and/or administrative support
- Experience in financial transaction/processing
- Experience in working in a high call volume, fast paced environment, preferably in a large financial institution
- Working knowledge of financial budgeting, credit, and/or collection practices
- Working knowledge of applicable federal and state laws, rules and regulations
- Familiarity with financial counseling, negotiating, and/or explaining decisions to members/customers
- Ability to work independently and in a team environment
- Ability to maintain confidentiality
- Effective member/customer service skills
- Effective skill following, interpreting, and applying guidelines, procedures, practices, and regulations
- Effective skill communicating with all levels within an organization
- Effective skill interacting tactfully and effectively in difficult situations
- Effective research, analytical, and problem solving skills
- Effective skill exercising initiative and using good judgment to make sound decisions
- Effective skill assimilating information, analyzing facts, and developing logical conclusions
- Effective skill building effective relationships through rapport, trust, diplomacy and tact
- Effective skill performing mathematical calculations with a high degree of accuracy
- Effective database, word processing, and spreadsheet software skills
- Effective skill navigating multiple screens and PC applications
- Effective verbal and written communication skills
- Effective skill maintaining accuracy with attention to detail and meeting deadlines
- Effective organizational, planning, and time management skills
- Effective skill conducting interviews
- Working knowledge of NFCU products, services, programs, policies, and procedures
- Working knowledge of NFCU's functions, philosophy, operations and organizational objectives
Locations: 820 Follin Lane Vienna, Virginia 22180 | 5550 Heritage Oaks Dr. Pensacola, FL 32526 | 141 Security Drive Winchester, VA 22602
About Us
You have goals, dreams, hobbies, and things you're passionate about—what's important to you is important to us. We're looking for people who not only want to do meaningful, challenging work, keep their skills sharp and move ahead, but who also take time for the things that matter to them—friends, family, and passions. And we're looking for team members who are passionate about our mission—making a difference in military members' and their families' lives. Together, we can make it happen. Don't take our word for it:
- Military Times 2022 Best for Vets Employers
- WayUp Top 100 Internship Programs
- Forbes® 2022 The Best Employers for New Grads
- Fortune Best Workplaces for Women
- Fortune 100 Best Companies to Work For®
- Computerworld® Best Places to Work in IT
- Ripplematch Campus Forward Award - Excellence in Early Career Hiring
- Fortune Best Place to Work for Financial and Insurance Services
Disclaimers: Navy Federal reserves the right to fill this role at a higher/lower grade level based on business need. An assessment may be required to compete for this position. Job postings are subject to close early or extend out longer than the anticipated closing date at the hiring team’s discretion based on qualified applicant volume. Navy Federal Credit Union assesses market data to establish salary ranges that enable us to remain competitive. You are paid within the salary range, based on your experience, location and market position
Bank Secrecy Act: Remains cognizant of and adheres to Navy Federal policies and procedures, and regulations pertaining to the Bank Secrecy Act.
Salary : $22 - $33
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