Consumer Loan Servicing Specialist 2

Description

Job Scope:

Provides knowledgeable support for consumer loan operations by performing a variety of moderately complex tasks in accordance with established procedures, policies, and regulatory guidelines. Utilizes sound judgment to resolve routine issues, responds accurately and professionally to loan-related inquiries, and adapts to updates in processes and systems. Supports internal staff and members with increasing independence, maintains strict confidentiality of member information, and proactively contributes to team success. Recommends improvements based on observations and participates in service and process enhancement efforts. Upholds the Credit Union’s core values by delivering consistent, high-quality service in all interactions.

Essential Functions

• Perform duties of the Level 1 Consumer Loan Servicing Specialist independently as needed, demonstrating full proficiency in routine loan servicing functions.
• Take ownership of internal and external loan-related inquiries from members, branches, dealers, and the Contact Center, providing accurate, professional, and knowledgeable responses while maintaining confidentiality.
• Actively listen to members to assess needs, recommend appropriate solutions, and ensure timely resolution of loan servicing issues, escalating complex matters as necessary.
• Research and resolve member credit disputes related to their loans, applying regulatory and policy guidelines.
• Process and manage assigned daily, weekly, and monthly loan reports, including credit life and disability products, student loans, SCRA accounts, share certificate loans, and paid-ahead loans.
• Administer GAP refund processes for indirect loans, coordinating directly with carriers or dealers and managing suspense attempts to ensure timely member refunds.
• Prepare member correspondence such as letters, payment histories, and amortization schedules as requested.
• Conduct stock reviews including audits of certificates and evaluations to ensure adequate coverage of loan collateral.
• Process file maintenance requests, including loan account corrections, adjustments, interest rate changes, modifications, and debt protection insurance updates.
• Handle full or partial insurance cancellations, vehicle damage claims, total loss processing, and letters of guarantee, ensuring compliance with turnaround goals.
• Perform payment reversals, transfer payments, loan adjustments, and other account corrections independently.
• Track and audit new loan originations exceeding established thresholds (e.g., loans over $20K or $40K), including employee loans, and manage loan file archiving as required.
• Compile routine loan servicing reports and track departmental workload volumes to support operational efficiency.
• Administer GAP, MRC, and CPI products including fees, cancellations, refunds, and monthly reconciliations, working closely with accounting to resolve exceptions.
• Monitor and audit Allied insurance coverages, ensuring accuracy of CPI add-ons, cancellations, and force-placed insurance payments; resolve member disputes related to CPI.
• Provide training and resource materials to new or less experienced team members; contribute to departmental process improvements and procedural documentation.
• Uphold the Credit Union’s core values by consistently delivering exceptional member service and safeguarding member and institutional confidentiality.
• Perform other duties as assigned.

Requirements

Qualifications:

Experience and Education

• Minimum of 1 year of direct experience performing consumer loan servicing functions, including working with loan products, documentation, payment processing, and member inquiries.
• Demonstrated experience in independently resolving member or client issues with professionalism and courtesy.
• Experience with loan file reviews or audits preferred.
• High school diploma or GED equivalent.

Knowledge

• Working knowledge of consumer loan servicing functions, including loan documentation, payment processing, titling, and applicable regulations.
• Demonstrated understanding of Credit Union products and services, with the ability to navigate inquiries and support internal stakeholders effectively.
• Awareness of data privacy and regulatory requirements pertaining to member and financial information.
• Proficient in using standard computer applications (e.g., Microsoft Office, internet browsers) and internal loan servicing systems; able to troubleshoot basic issues and adopt system updates with minimal guidance.

Skills/Abilities

• Demonstrates strong interpersonal and communication skills when interacting with members and internal teams; adjusts tone and messaging appropriately for audience and situation.
• Responds professionally and efficiently to a wide range of internal and external member inquiries; takes initiative to resolve issues within scope before escalating.
• Clearly explains loan servicing topics and related procedures, adapting explanations based on the member’s or colleague’s level of understanding.
• Manages workload independently within established timelines; organizes tasks effectively to meet deadlines and balance competing priorities.
• Maintains high attention to detail when handling moderately complex loan servicing tasks; ensures accuracy in documentation, data entry, and file updates.
• Demonstrates sound judgment in routine and some non-routine situations; researches and analyzes issues to recommend or implement appropriate solutions.
• Handles sensitive or emotionally charged member interactions with empathy and professionalism, working toward positive resolution.
• Contributes to team success through collaboration and occasional peer support; may assist with onboarding or training of new team members on routine tasks.
• Takes ownership of personal development; seeks feedback, applies learning, and stays current on updates to systems, processes, and procedures.

Physical Requirements/Work Environment

• Primarily performs work in a standard office environment.
• Must be able to remain in a stationary position (e.g., seated at a desk or workstation) for extended periods.
• Frequent use of computer, keyboard, mouse, telephone, and standard office equipment.
• Must be able to communicate clearly and effectively in person, over the phone, and in writing.
• Occasional movement within the office to access files, printers, or attend meetings.
• May occasionally lift or move items up to 10 pounds (e.g., files, mail, small packages).