What are the responsibilities and job description for the Member Case Settle Spec position at Tower Federal Credit Union?
Note: All full-time positions include the option of $0 out-of-pocket premium cost for Employee Only PPO AND exceptionally low premiums for all other PPO coverage levels.
Tower is offering a $1000 Signing/Retaining bonus as of 1/20/2024.
Hours: Monday - Friday,8:00am-4:30pm
Hiring Range - $28.42-$42.62
SUMMARY OF POSITION:
This position processes accounts of deceased members and provides credit union services to their family members. The position acts as a liaison between family members, the credit union, insurance companies and attorneys. Incumbent has independent contact with families of deceased members and vendor partners with a broad range of delegated authority to make prudent decisions involving all Tower products and services with little or no time to seek out direction or approval. In this role, must exhibit strong empathy for members while balancing business needs and minimizing business risk to carry out associated duties in this role while serving members effectively.
PRINCIPAL ACCOUNTABILITIES and FUNCTIONS:
- Processes accounts of deceased and disabled members and administers the insurance claims in compliance with Tower policy and procedures as well as applicable government regulations.
- Researches and coordinates account closures and verifies legal owner or beneficiary of deceased member’s accounts in compliance with Federal and State regulations. This requires a high level of inter-personal human relation and strong decision-making skills to deal with a breadth of complex and sensitive issues.
- Performs specialized member and loan services to families of deceased members to provide effective credit union services.
- Serves as the liaison for members filing Credit Life and Credit Disability insurance claims on accounts. This task requires extensive independent research to ensure appropriate insurance pay out amounts occur.
- Corresponds with the deceased’s family members, their attorneys, Personal Representatives of the Estate and the credit union attorneys in person, via email or phone to secure and validate necessary documentation to process a claim. Represents Tower’s interests, orally and in writing, with the insurance companies via phone and the internet.
- Responsible for accurately gathering information and completing the required forms to process GAP (Guaranteed Asset Protection) Claims, GAP Add-Ons and GAP Cancellations with the insurance company. Reconciles the monthly GAP file transmission sent to the insurance company with the GL entries.
- Responsible for collecting the essential data and for providing the supporting documentation to the insurance companies, and processes the paid claims as approved by the insurance company.
- Researches the accounts and coordinates the account closures with the departments handling payrolls, IRAs, share certificates, consumer loans, mortgage loans, e-commerce and collections. Verifies the legal owner or beneficiary of the accounts to ensure the information is accurate and valid.
- Responsible for recommending and explaining credit union products and services in order to assist family members. Interviews family members to determine the nature and extent of their financial needs; recommends appropriate products and services that will best achieve the family member's objectives.
- Explains Tower service features and benefits, including any applicable policies, procedures or restrictions. Assists members in completing applications and enrollment forms, reviewing them for accuracy, completeness and compliance with Tower policy and government regulations. Provides notary services as needed.
- Responsible for maintaining accurate information related to member's accounts including processing monetary transactions. Performs file maintenance on various accounts and initiates or makes changes in direct deposits or allotments. Researches any discrepancies, determines the extent of the necessary correction and effectively communicates the resolution to the member.
- Responsible for opening Revocable Living Trust Accounts keeping current with associated industry standards and regulations.
- Responsible for opening, monitoring and closing Estate Accounts keeping current with associated industry standards and regulations.
- Provides support to Deposit Operations during periods of high volume or high priority tasks to provide service excellence to internal and external members.
- Performs related duties as assigned.
REQUIRED QUALIFICATIONS:
- Possession of a high school diploma or an equivalency certificate.
- Three to five years of directly related member service experience in the financial services industry applying knowledge of available products that meet members’ and their family needs.
- Or, an equivalent combination of education and experience.
COMPETENCIES:
- Ability to operate the 10 key calculator by touch, accurately perform mathematical functions (add, subtract, multiply, and divide) and to apply concepts of fractions, percentages, ratios and proportions to practical situations.
- Ability to effectively operate a PC in a Microsoft Windows environment, multi-network media environment.
- Ability to read and interpret procedure manuals for implementation and incorporate into the daily workflow while making sound, accurate and timely decisions.
- Ability to provide detailed explanations and respond to questions in one-on-one situations in person or over the phone.
- Demonstrated ability to effectively communicate orally and in writing with members, inter-departmental units, couriers and vendors.
- Ability to solve practical problems and deal with a variety of concrete variables in unique situations.
- Ability to accurately verify, reconcile, and make necessary adjustments to transactions.
- Demonstrated ability to work in a teller-oriented environment and apply the basic concepts of balancing debits and credits.
- Demonstrated ability to work with little or no direct supervision
- Ability to identify, define and resolve problems by collecting data, establishing facts and drawing basic conclusions and/or writing general support documentation
- Ability to be flexible and prioritize diverse tasks to complete daily job assignments effectively and meet established deadlines
- Ability to lead/assist in skillfully resolving controversial or delicate matters.
- Ability to effectively interact professionally with colleagues and all levels of management.
- Ability to be an effective team member exhibiting team base role model behavior with mature emotional intelligence to inspire and lead others.
- Ability to work under pressure.
- Ability to compile tasks with accuracy and attention to detail during times of high demand.
- Ability to assess own strengths and weaknesses and seek out training and development opportunities.
- Ability to seek out increased responsibilities and generate suggestions for improving work.
- Able to arrive at work routinely and promptly and demonstrate consistent dependability to include attendance.
- Ability to respond to sensitive inquiries and complaints effectively with sensitivity while maintaining sensitive and confidential information for members as well as co-workers.
- Has knowledge of and adheres to credit union policies and procedures and all regulations related to the Bank Secrecy Act, the USA PATRIOT Act and OFAC.
WORKING CONDITIONS:
- Full-Time, Monday – Friday, core hours 8:00 a.m. – 4:30p.m.
- Sitting for long periods of time.
- Extended use of a personal computer and software applications.
- Phone usage to handle inquiries and member requests.
- Ability to sit, stand and walk for extended periods and demonstrate sufficient dexterity and vision to operate a variety of office equipment.
- Ability to lift up to 20 lbs. with or without assistance.
- Ability to work the hours needed which may extend beyond the defined work schedule when operating conditions dictate
- Tower Facilities Only (TFO) SECURITY CLEARANCE REQUIRED.
Salary : $28 - $43