Consumer Loan Account Specialist I

To respond to consumer loan requests including escalated; complex; sensitive and/or urgent inquiries. To research; analyze; and resolve loan and account discrepancies.

• Responds to consumer loan complex inquiries, problems, and complaints relating to transactions, revenue production or servicing to ensure timely and accurate responses
• Provides comprehensive and in-depth responses and counseling about accounts and transactions, etc.
• Researches multiple resources to investigate nature of the inquiry; analyzes/interprets account information; and provides detailed analysis to numerous inquirers
• Resolves and adjusts account discrepancies, within authorized limits; calculates accrued loan interest; corrects/updates accounts in on-line systems; and coordinates account adjustments with Data Control and General Accounting
• Applies financial institution regulations and Navy Federal policies/procedures to ensure compliance with banking laws and regulations to minimize financial risk to the organization
• Remains alert to situational patterns of activity, which indicate possible account fraud or abuse; advises Security of suspicious account activity
• Serves as subject matter expert for a specific area of concentration to expedite responses
• Compiles, researches and analyzes data; prepares summaries and develops and presents recommendations to supervisor
• May participate in ad hoc projects
• Administers mortgage to loan payoffs by performing specific General Ledger and account adjustments
• Calculates loan data for loan document preparation (e.g., monthly payment, interest, due date, etc.); adjusts accounts; initiates requests for loan document processing, and creates/delivers virtual vouchers to Data Control and General Accounting
• Transfers balances of out of compliance OLOC accounts by manually establishing a new loan, and places restrictions on account per received instructions
• Maintains Business Line of Credit Accounts, manually funding loans/OLOCs, manual advances, and conversion of business loan to consumer loan
• Assists in preparing and reviewing production statistics and workload reports
• Maintains current knowledge of developments and changes in Navy Federal products, services, systems, and marketing efforts
• Reviews and maintains closed-end consumer loans for members participating in the Payment Protection Plan (P3) accounts and maintains the Guaranteed Account Protection (GAP) program
• Adjusts monthly payments, enrollment, cancelation, changes in coverage type; verifies application form(s) to meet compliance requirements; applies/refunds CUNA funds
• Adds/deletes coverage and performs claims adjustments to consumer loan accounts; decreasing principle balances and readjusts loan payments
• Processes loan payment and interest adjustments for Collateral Control, Collections, and a variety of other sections
• Processes requests for recurring payments; determines requests are appropriate and funds are distributed to the correct accounts
• Provides amortization schedules, loan payment history details for auditing purposes
• Educates/informs members about account statuses, adjustments, and courses of action to resolve problems while explaining policies, regulations, procedures and Navy Federal services/programs
• Performs or assists with implementation of new or updated products, systems, and applications and system cleanup following credit union mergers
• Executes frequent validation testing during new or updated systems/products and implementation
• Identifies system errors and problems and determines course(s) of action required to resolve them
• Works with ISD in maintaining the GL system and subsystems
• Serves as a resource in evaluating existing systems and procedures to improve and enhance performance and processes; researches, analyzes, and recommends changes for more efficient operation and their effects on other systems interfacing with the GL system
• Submits recommendations for ISD work requests to automate section functions, and monitors the status of requests
• Tests and evaluates automated tasks vs. manual processes; provides feedback regarding results
• Reviews consumer loan exception reports (e.g., holds on share pledged loans, overpayments to loans, 60 day P3 cancellation reports, account/disbursement reconciliation reports, paid loan with negative balances, etc.)
• Researches entries, determines appropriate action, adjusts accounts, corrects errors and notifies the appropriate areas
• Researches transactions relating to protested checks that cannot be re-deposited, and coordinates processing of adjustments with Data Control and General Accounting
• With limited guidance researches and resolves discrepancies through collaboration with internal business units and external contac