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Collateral Specialist II

Location: Full/Part Time: Full-Time Regular/Temporary: Regular

Job Description

Employee Perks

Why You Will Love Being Part of the Navy Federal Team:

*Competitive compensation with opportunities for annual raises, promotions, and bonus potential
*Best-in-Class Benefits! (7% 401k match / Pension plan / Tuition reimbursement / Great insurance options)
*On-site amenities include fitness center, wellness center, cafeteria, etc. at Pensacola, FL; Vienna, VA and Winchester, VA campuses
*Consistently Awarded Top Workplace
*Nationally recognized training department by TRAINING Magazine
*An employee-focused, diverse, and service-oriented workplace environment

Basic Purpose

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. Maintain and administer Navy Federal's collateral tracking database. Evaluate processes and resource materials and recommend updates/improvements. Advise supervisor and peers of regulatory or procedural changes implemented by titling agencies. Establish cooperative relationships with internal and external partners to ensure procedures are followed accurately to minimize risk of loss to Navy Federal. Serve as collateral subject matter expert. Research, resolve, and respond to inquiries/issues from members, state DMVs, dealerships, and others concerning collateral issues and loan compliance. Remain current on applicable state regulations, NCUA, and Navy Federal policies and procedures. Facilitate collateral control training for staff in other business units. Work under moderate supervision.
• Regularly review member account data and/or documentation to ensure data is accurate, up-to-date and in compliance with government and Navy Federal guidelines
• Maintain systematic, consistent and reliable notes and contact history information on each member interaction and actions taken on accounts
• Record, track and report member concerns to management
• Track and update action items in database(s)
• Collect, prepare and maintain data for analysis, reports and reference
• Contact registered owners, state and federal titling agencies, vehicle dealerships, etc. to resolve discrepancies with title issues and loan compliance; identify and perform related follow-up actions
• Analyze, research and resolve problems and discrepancies related to member accounts/loans
• Initiate and ensure corrective action to member accounts and/or documentation to ensure complete and accurate documentation
• Determine appropriate documentation for lien placement; prepare letters/forms and forward to member; track and follow-up to ensure forms are returned
• Respond to inquiries; offer solutions to members, other business units and external organizations
• Release titles, reverse loan rates and recommend account refinances and/or changes of collateral on accounts that do not comply with loan guidelines
• Monitor, review, interpret and process requests; initiate adjustments within defined scope of authority
• Perform other related duties as assigned
Qualifications – All required unless otherwise noted
• Experience in member/customer service preferably in a call center, retail banking or financial institution
• Exposure to work which addresses/resolves collateral issues and inquiries
• Familiarity with state laws regarding collateral procedures, title policies and loan perfection
• Working knowledge of consumer lending principles, policies and financial practices
• Working knowledge of accounting, credit, and/or lending principles and techniques
• Working knowledge of financial institution and lending practices, principles and regulations
• Effective skill verbal and written communication skills
• Effective skill interacting with staff, management, vendors and members diplomatically and tactfully
• Effective skill exercising initiative and using good judgment to make sound decisions
• Effective database and presentation software skills
• Ability to work independently and in a team environment
• Effective clerical, technical or administrative skills
• Effective skill following, interpreting and applying relevant data/instructions to guidelines, procedures, practices and regulations
• Effective research, analytical, and problem solving skills
• Working knowledge of applicable NCUA and federal regulations governing consumer lending and/or credit cards
• Working knowledge of multiple financial products such as consumer or mortgage loans, credit cards, savings/checking accounts, etc.
Desired – Experience in a Member Service Representative role or similar customer service position, preferably in a financial institution
Bank Secrecy Act
Remains cognizant of and adheres to Navy Federal policies and procedures, and regulations pertaining to the Bank Secrecy Act.

Monday – Friday, 11:30AM – 8:00PM CST (with a flex day off) 
Saturday:  7:00AM - 1:30PM CST 

Equal Employment Opportunity


Navy Federal values, celebrates, and enacts diversity in the workplace.  Navy Federal takes affirmative action to employ and advance in employment qualified individuals with disabilities, disabled veterans, Armed Forces service medal veterans, recently separated veterans, and other protected veterans.  EOE/AA/M/F/Veteran/Disability