What are the responsibilities and job description for the TITLE SPECIALIST position at SAFE FCU?
SUMMARY:
The Title Specialist is responsible for safeguarding the credit union’s interest on all collateralized loans by securing a perfected lien on dealer purchases, refinances, member to member, and out-of-state loan categories. Must be knowledgeable on the regulations and titling procedures for each State’s Department of Motor Vehicle (DMV) and Department of Natural Resources (DNR) on all types of vehicle and watercraft loans.
ESSENTIAL DUTIES AND RESPONSIBILITIES include the following:
• Responsible for maintaining an accurate database in our electronic titling system, Decision Dynamics Inc (DDI). Records notes and status details, to include requests and resolutions, in the software’s Activity History section. Accepts and reviews all newly processed electronic titles notifications daily.
• Reviews all titling documents received to ensure they are completed, signed, and notarized according to applicable State’s DMV and DNR requirements. Identifies exceptions and notifies appropriate Loan Officer or Member Service Representative for corrective resolutions.
• Prepares necessary documents required for titling and/or registration, to include fee checks; sends packets to appropriate DMV and DNR agencies according to established procedures.
• Ensures all collateralized loans are processed in a timely manner and perfected with the credit union’s lien.
• Compares weekly DDI error report against the new loan report to discover and correct all discrepancies found on our core operating system and in DDI.
• Research outstanding titles to identify missing or incomplete paperwork; act as liaison with dealers, members, LOs, MSRs, other financial institutions and agencies to ensure our lien is applied in a timely manner.
• Assist the IG Support Specialist with investigating stalled titles with a status of “suspense” at the SCDMV to discover root cause. Coordinate with dealerships and members to rectify the issue, ensuring our perfected status.
• Processes dealer and member payoff requests and provides accurate, same-day information.
• Reviews payoff checks to ensure loans are paid in full prior to releasing titles. Informs dealers and other financial institutions of shortages.
• Release titles daily from 5-day paid-off loan report, dealer payoffs, and email/Synapsys request.
• Maintains a comprehensive filing and tracking system for paper titles and working title packages.
• Assist the IG Support Specialist with completing Letters of Authorization to Ship Vehicles for our military members, when requested.
• Assist Accounts Control with title concerns and payoffs on potential charge-offs and repossessions.
• Assist the Survivor Support Coordinator with duties including but not limited to processing deceased account, reviewing probate court paperwork, filing credit life and disability claims, and answering all related questions from members, employees, and survivors.
• Acts as SME for all questions and concerns regarding the title process.
• Assist employees and members with general IRA questions.
• Makes recommendations/suggestions on improving and streamlining processes, reducing the risk to the Credit Union, and enhancing member experience.
• Other duties as assigned.
SUPERVISORY RESPONSIBILITIES:
No requirement.
PERFORMANCE STANDARDS:
Thorough knowledge of title lien filing regulations and requirements. Performs all job functions in an accurate and timely manner. Professional in appearance and attitude. Utilizes interpersonal skills effectively in a team environment to ensure professional and outstanding service.
QUALIFICATION REQUIREMENTS:
To perform this job successfully, an individual must be detail-oriented, a team player, possess excellent customer service, a quick learner, be organized, adaptable, open to change with strong research and problem-solving skills. 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.
Regulatory Requirements: Your position has specific procedures that must be followed to comply with Privacy Act, Office of Foreign Assets Control (OFAC), and Bank Secrecy/Patriot Act. You will receive annual training to keep you current on any changes to these policies/procedures to assure compliance. Failure to comply with procedures may cause termination of your position as well as possible monetary penalties from the federal regulatory agency.
EDUCATION and/or EXPERIENCE:
High school diploma or general education degree (GED); and three years of lending and/or titling experience; or equivalent combination of education and experience.
