Collateral Specialist

The Collateral Specialist is responsible for ensuring all liens are fully secured on every collateralized consumer loan funded with NCU. A robust understanding of the auto, boat, and RV purchasing process is essential for in and out of state collateralized loans.  The Collateral Specialist must communicate professionally with dealers, members, sellers and NCU staff.  The Collateral Specialist must stay informed of all in and out of state changes in title and vehicle registration processes.

ESSENTIAL FUNCTIONS AND BASIC DUTIES

1   Assumes responsibility for the effective and timely performance of assigned functions.

• Assembles and verifies accuracy of loan documentation. This includes ensuring loan files contain documents with proper signatures and other relevant information. 
• Responsible for understanding the title process for autos, boats, and recreational vehicles.
• Processes liens for collateralized consumer loans in a timely manner.
• Processes timely release of liens for collateral payoffs in accordance with state guidelines, rules and regulations. Follows up timely with financial institutions regarding title releases. 
• Works with insurance companies on total losses.
• Processes back-end product cancelations and claims. 
• Responsible for all existing loan maintenance and clerical duties for the lending department. This includes completing maintenance in electronic title system (error reports, matching titles, and closing accounts).
• Processes dealership and insurance payments in a timely manner via official check and wire.
• Refers credit union products and services to meet, company, personal and departmental goals. 

2   Assumes responsibility for establishing and maintaining professional business relations with customers, other financial institutions, and merchants.

• Maintains a thorough understanding of all credit union consumer loans, consumer loan products, and required loan documentation for each type. 
• Communicates with Texas Department of Motor Vehicle Tax office staff, dealerships, and insurance companies regarding title work and collateral claims. 
• Responds promptly and professionally to member inquiries by phone, email or text.
• Collaborates with members, insurance companies, other financial institutions and third-parties to provide a fast and efficient consumer lan funding process.

3   Assumes responsibility for establishing and maintaining effective coordination and working relations with company personnel and with management.

• Follows all policies and procedures regulated by the credit union as well as governmental policies, procedures, and regulations.
• Communicates effectively and professionally with teammates, other departments, management and third parties.
• Assists other departments with lending related questions and support.
• Complies with the US Patriot Act, Bank Secrecy Act, OFAC, policies and procedures.               

4   Assumes responsibility for related duties as required or assigned.

• Performs any loan related duties as needed.
• Provides feedback on daily duties to promote process improvements.
• Maintains a good attitude when assigned new processes, new services and new products.

Qualifications

Education/Certification:

• Associate degree or equivalent from a two-year college or technical school or knowledge typically gained through a minimum of one year experience providing customer service in financial institutions

Required Knowledge:

• Knowledge of lending rules and regulations
• Comprehensive understanding of direct lending procedures
• Knowledge of auto buying process and all consumer loan related functions
• Knowledge of credit union products and services, policies, and procedures
• Knowledge of Microsoft Office, DocuSign, and Meridian Link
• Experience with Symitar, Synapsys and Synergy is a plus

Experience Required:

• Minimum one year of experience supporting consumer lending operations
• Minimum one year of collateral-related experience

Skills/Abilities:

• Excellent communication and public relations skills
• Ability to provide courteous, knowledgeable, and professional customer service both in person and on the phone
• Ability to assume responsibility, display initiative, exercise good judgment and make and act upon decision with minimal supervision
• Ability to analyze accounts
• Ability to express ideas effectively and speak clearly
• Ability to use correct English grammar, punctuation, and spelling
• Ability to follow instructions and respond to management directions
• Ability to assess multiple tasks or issues which are competing for limited amount of time or resource and effectively determine order in which each will be addressed, ability to set priorities, and to track both complete and incomplete activities
• Attentive to detail
• Well organized
• Ability to assist others
• Able to use 10-key, PC, teller terminal, telephone, card machine, and all related business equipment