Collateral Specialist I

Overview

To perform foundational and core responsibilities to ensure collateralized loans have valid and appropriate proof of ownership to minimize Navy Federal financial risk. Verify accounts comply with promissory notes and loan guidelines. Establish cooperative relationships with internal and external partners to ensure procedures are adhered to. Research, resolve, and respond to inquiries/issues from members, state DMVs, dealerships, and others concerning collateral issues and loan compliance. Work is performed under moderate supervision.

Responsibilities

• Tasked with ensuring Navy Federal is the primary lienholder by securing the loan for both physical and electronic titles
• Issues lien releases for paid-off loans or temporary title releases for registration updates to accommodate changes in owner information
• Identifies appropriate documentation for lien placement; prepares letters/forms and sends them to member; follow-up to ensure forms are returned
• Review member account data and/or documentation to ensure data is accurate, up-to-date and in compliance with applicable federal and state laws, rules and regulations and Navy Federal policies and procedures
• Remain abreast of developments and changes in Navy Federal products, services, systems, and marketing efforts
• Provide feedback with updating policies and procedures in the Collateral manual
• May be asked to provide feedback as directed for projects
• Analyze, search, and resolve problems and discrepancies related to member accounts/loans
• Processes title releases, reverse loan rates, and/or changes of collateral on accounts that do not comply with loan guidelines
• Maintain thorough knowledge of applicable federal and state laws, rules and regulations and Navy Federal policies and procedures
• Maintain systematic, consistent, and reliable notes and contact history information on each member interaction and action taken on accounts
• Informs Supervisor and peers of regulatory and/or procedural changes implemented by titling agencies
• Contacts various parties to resolve title and loan compliance issues, taking necessary follow-up actions
• Track and update action items in databases
• Reviews and processes requests within authorized limits, ensuring compliance with documentation requirements
• Perform other duties as assigned

Qualifications

• Basic skill in member/customer service preferably in a call center, retail banking or financial services organization
• Basic knowledge of multiple financial products (e.g., consumer or mortgage loans, credit cards, savings/checking accounts, etc.)
• Effective interpersonal, verbal, and written communication skills
• Basic research, analytical, and problem-solving skills
• Basic skill maintaining accuracy with attention to detail and meeting deadlines
• Ability to exercise initiative and good judgment to make sound decisions
• Ability to adapt to new technologies
• Basic clerical, technical or administrative skills
• Ability to provide exceptional customer service
• Basic organizational, planning and time management skills
• Ability to work independently and in a team environment
• Basic database, word processing, spreadsheet, and presentation software skills
• Working knowledge of Navy Federal functions, philosophy, operations and organizational objectives
• Working knowledge of applicable federal and state laws, rules and regulations governing collateral procedures, title policies and loan perfection

Hours: Monday - Friday, 8:00AM - 4:30PM

Locations: 820 Follin Lane, Vienna, VA 22180 | 5510 Heritage Oaks Drive, Pensacola, FL 32526

About Us