Consumer Loan Servicing Specialist

Title: CONSUMER LOAN SVCNG SPCLST

Department: CONSUMER LOAN SERVICING

Status: Non-exempt

Reports to: SUP – CONSUMER LOAN SERVICING

job code: 1798

Pay Scale: $24.29 - $25.00 Hourly

GENERAL DESCRIPTION:

As a consumer loan servicing specialist, you will provide a seamless experience for our members in managing their loans, while supporting leadership with department level initiatives and testing. This experienced level position plays a crucial role in driving innovation and implementing process improvements. This position requires an advanced understanding of loan servicing operations, analytical skills, and the ability to collaborate with cross-functional teams. A specialist supports technician level staff, while supporting requests that require special handling up to vendor or project involvement. Key responsibilities include, projects, validations for system updates, new products, and product improvements. In addition, tracking production and service level agreements, quality control support, complicated research, and escalations. Team collaboration and positive communication, while demonstrating adaptability and resilience.

TASKS, DUTIES, FUNCTIONS:

1. Engage with members via phone and email, providing exceptional service and assistance with loan related inquiries, demonstrating alignment with our Mission, Vision, and Core Values.
2. Support team in processing requests submitted through the Consumer Loan Servicing queues, email inboxes, faxes and by mail. 
3. Assist technicians and handle escalations in a solutions-based manner, as a first line attempt of resolution prior to passing to leadership.
4. Department specific duties may include advanced servicing or subject matter expertise in the following:
1. Service pack validation, new product testing, statement validations.
2. Initiate and validate rate change processes on variable rate loan products.
3. Advanced servicing of equity loans including ensuring proper closing, title research and release resolutions, fixed rate segment servicing, including letter quality controls and general oversight of demand payoff processing.
4. Partner with accounting to research and clear differences in assigned general ledger accounts.
5. Support AB2311 by working escalated or delayed refund processing, exception processing and letter generation.
6. Support vehicle title perfection through planned strategies and partnerships with indirect lending teams and dealerships.
7. Monitor and ensure posting of insurance commission income and expenses related to product protection. Support adding, cancelling, and refunding of ancillary loan products offered.
8. Loan product portfolio management, including reporting, monitoring for errors, and onboarding new products, to include, testing and validating.
9. Mapping and servicing electronic forms, support generating new and servicing existing.
10. Monitor reporting, provide error resolution, with a strong focus on regulatory compliance in servicing standards.
5. Maintain a thorough understanding of state and federal laws and regulations related to credit union compliance, including bank secrecy and anti-money laundering laws appropriate to the position. Must pass all regulatory and compliance courses and apply knowledge to daily tasks.
6. Identify and propose processing optimization, with a digital focus, to enhance the effectiveness of servicing operations. Lead implementation of digitally focused projects.
7. Establish a collaborative environment by actively engaging with colleagues to share best practices and ideas. Supporting training technicians and temporary employees. Mentor employees to ensure a high level of knowledge transfer.
8. Create open and honest communication, give, and encourage feedback.
9. Coordinate and monitor daily workflows of department.
10. Highly engaged participation in huddles and meetings, lead meetings as needed.
11. Support annual procedure update process.
12. Support production reporting, ensuring service level agreements are met and work is delegated to technicians in prioritizing order.
13. Innovate mindset with a passion for process improvement.
14. Proactive and self-motivated.
15. Provide additional department support and perform other tasks and duties as needed.

PHYSICAL SKILLS, ABILITIES, AND EXERTION UTILIZED IN THE PERFORMANCE OF THESE TASK:

1. Effective oral and written communication skills required to assist staff, members, and third parties. 
2. Must possess sufficient manual dexterity to skillfully operate laptop, and other standard office equipment, such as financial calculators, cellphone, and telephone.  

ORGANIZATIONAL CONTACTS & RELATIONSHIPS:

1. INTERNAL: All levels of staff.

1. EXTERNAL: Members, vendors and third parties.

QUALIFICATIONS:

1. EDUCATION: Successful completion of high school curriculum and/or equivalent work experience.
2. EXPERIENCE: 3 or more years at a financial institution performing customer service in the financial industry in a progressively advancing role, with a focus on complex tasks and process improvement, extensive loan research and resolution, report creation and analysis, training, and mentorship experience, testing and validating experience, vehicle and home titling and release processing. Experienced level in servicing ancillary loan products.

1. KNOWLEDGE / SKILLS:

1. • Previous experience in customer service, financial institution experience required.
   • In-depth knowledge of loan products, regulations, and industry best practices.
   • Experience in consumer loan products, with emphasis on loan servicing experience.
   • Advanced knowledge of California DMV motor vehicle regulations pertaining to vehicle titling and release regulations, credit dispute requirements and/or real estate reconveyance processes, required.
   • Knowledge of electronic DMV titling
   • Strong analytical and problem-solving skills
   • Excellent communication and interpersonal skills.
   • Detail-oriented with excellent organizational abilities.
   • Ability to multi-task is required with a high level of accuracy.
   • Working knowledge and ability to use Microsoft Office software and standard office equipment.
   • Good follow-up skills.
   • Ability to work independently.
   • Ability to work in a fast-paced environment.

PHYSICAL REQUIREMENTS:

1. Prolonged sitting throughout the workday with occasional mobility required.
2. Corrected vision within the normal range.
3. Hearing within normal range.  A device to enhance hearing will be provided if needed.
4. Occasional movements throughout the department daily to interact with staff, accomplish tasks, etc.
5. Extensive PC data entry and processing throughout the workday.
6. May require minimal travel, local and statewide by car or public conveyance for Credit Union business.

LICENSES / CERTIFICATIONS:

Possess a valid California driver’s license.

THIS JOB DESCRIPTION IN NO WAY STATES OR IMPLIES THAT THESE ARE THE ONLY DUTIES TO BE PERFORMED BY THIS EMPLOYEE.  HE OR SHE WILL BE REQUIRED TO FOLLOW OTHER INSTRUCTIONS AND TO PERFORM OTHER DUTIES REQUESTED BY HIS OR HER SUPERVISOR THAT ARE WITHIN HIS / HER KNOWLEDGE, SKILL AND ABILITY AS WELL AS HIS / HER MENTAL AND PHYSICAL ABILITIES.

REV. 3/15/2024