Deposit Account Servicing - Member Beneficiary Support Advocate - Specialist

TITLE: MEMBER BENEFICIARY SUPPORT ADVOCATE - SPECIALIST
STATUS: NON-EXEMPT
REPORT TO: SUP - MEMBER BENEFICIARY SUPPORT & ESCHEATMENT
DEPARTMENT: DEPOSIT ACCOUNT SERVICING
JOB CODE: 11618
PAY RANGE: $25.40 - $28.50 HOURLY

GENERAL DESCRIPTION:
As an experienced Member Beneficiary Support Advocate - Specialist, you will be responsible for supporting deceased staff in conjunction with supporting project improvements. This position requires an advanced level of knowledge about complex deceased processing and collaboration with cross-functional teams. Your primary role will involve verifying documentation, to ensure everything is in place prior to approving disbursement for deceased accounts in compliance with established policies and regulatory requirements. This experienced level position plays a crucial role in driving and implementing digital innovation and being a key participant with system validations. Responsible for effectively managing work queues, prioritizing tasks, and ensuring the completion of daily quality control checks to maintain the highest standards of accuracy and efficiency. The Member Beneficiary Support Advocate – Specialist should be well versed and understand financial regulations and the ability to navigate complex situations with professionalism and compassion. Additionally, the role will involve collaborating with legal and compliance to ensure adherence to industry standards and diligently safeguard the best interests of the credit union, ensuring prudent financial practices and strategic decision-making. This role requires you to have a cross knowledge of Dormant account handling and the Escheatment process. Provide phone cover for incoming calls when volume exceeds normal levels.
TASKS, DUTIES, FUNCTIONS:
1. Verification and Documentation: Display meticulous attention to detail and ensure all pertinent documents are accounted for that pertain to the deceased case. Interpret probate, letters of testamentary and trust documents.
2. Legal Coordination: Collaborate with legal representatives, with next of kin, and other relevant parties to confirm necessary documentation is obtained and accurate prior to approving disbursement and account closure.
3. Regulatory Compliance: 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.
4. Record-Keeping: Maintain detailed procedures and current forms related to deceased accounts. Review daily reporting to effectively manage queues and reassign work as needed.
5. Communication: Keeping all relevant stakeholders informed about the progress of the cases, providing clear and transparent communication.
6. Dormant and Escheatment: Has a firm understanding of the dormant and escheatment process and state law requirements. Assist with making outbound calls to unite individuals with funds and reduce escheatment volumes.
7. Work Assignments: Manages daily reporting and queue management that includes phone responsibilities and mail distribution.
8. Closure Process: Accurately document actions taken, and outcomes achieved for continuous improvement when settling an account. Perform 2nd line monitoring to ensure policy guidelines are followed.
9. Problem Resolution: Take ownership and resolve complex issues with tact and diplomacy.
10. Training and Development: Stay informed about industry’s best practices and lead training sessions to help develop peers and ensure they are equipped with the knowledge to meet organizational goals.
11. Digital Expectation: Identify and create digital opportunities for faster, easier account resolution. Remain involved with organizational changes that include technology-driven strategies to enhance the deceased process.
12. Engagement Participation: Encourage an inclusive environment that values diverse perspectives and backgrounds that align with Golden 1’s mission, vision, and core values.
PHYSICAL SKILLS, ABILITIES, AND EXERTION UTILIZED IN THE PERFORMANCE OF THESE TASK:
1. Proficient in using relevant computer applications and software.
2. Proven ability to analyze situations, identify issues, and implement effective solutions.
3. Familiarity with industry trends and a proactive approach to process improvement.
4. High levels of empathy and sensitivity, recognizing the emotional nature of deceased account processing and the need for compassionate communication when interacting with grieving family members.
ORGANIZATIONAL CONTACTS & RELATIONSHIPS:
1. INTERNAL: Ability to collaborate and work effectively with cross- functional teams and internal stakeholders, Including compliance and legal.
2. EXTERNAL: Interact with outside council, Public Administrator, account holder of interest as well as third-party age