Loan Protection Specialist I

Overview

To evaluate, approve/deny, and process Loan Protection Claims and GAP enrollments, cancellations and claims received from members and other third parties, in accordance with applicable federal and state laws, rules, regulations, and NFCU policies and procedures. Work performed under supervision via established guidelines and procedures. Perform varied tasks with limited latitude and impact.

Responsibilities

• Provide member service through various channels (phone, chat, etc.)
• Ensure compliance with established security standards, protecting and verifying caller identity; review account information for alerts, account irregularities and GAP eligibility
• Actively identify situations/patterns of activity indicating potential fraud or abuse and ensure timely and accurate reporting in compliance with regulatory standards and Navy Federal policies
• Review NFCU 298's and GAP claims for completeness and accuracy to determine if additional information and/or supporting documentation is required
• Research and respond to inquiries from members and internal business unit partners
• Process GAP claims, enrollments and/or cancellations and make decisions within established guidelines and policies; coordinate payment and closure of claims
• Provide claim and contractual information to appropriate internal and external parties
• Perform independent research, investigation, and analysis of GAP claims, discrepancies or processing issues, resolving and decisioning based on established guidelines and policies
• Receive guidance and instructions from Loan Protection Claims supervisors regarding complex claims and/or issues that are beyond scope
• Maintain accurate and detailed records and contact history information on each member interaction, including documentation of all actions taken
• Ensure compliance with internal and external documentation and disclosure requirements
• Stay abreast of and ensure compliance with applicable federal and state laws, rules and regulations
• Research, gather, and prepare data and related correspondence
• Provide recommendations for process improvements or enhancements to optimize operational efficiency and resource capacity
• Perform other duties as assigned

Qualifications

• Familiarity with applicable federal and state laws, rules and regulations
• Experience in progressively responsible administrative work
• Familiarity with loan protection products and claim processing
• Experience in financial transaction/processing related responsibilities
• Exposure to working with all levels of staff, management, stakeholders, vendors
• Experience working in a high volume, fast paced environment
• Ability to handle multiple tasks simultaneously with a high degree of accuracy
• Ability to work independently and in a team environment
• Effective member/customer service skills
• Effective organizational, planning and time management skills
• Effective skill exercising initiative and using good judgment to make sound decisions
• Basic research, analytical, and problem-solving skills
• Effective skill following, interpreting and applying relevant data/instructions to guidelines, procedures, practices and regulations
• Basic skill assimilating information, evaluating facts, and developing logical conclusions
• Effective verbal and written communication skills
• Effective database, word processing, and spreadsheet software skills

Desired Qualification(s)

• Experience in a customer service position, preferably in a financial institution
• Working knowledge of consumer/credit card lending products
• Working knowledge of NFCU products, services, processes, policies and procedures

Hours: Monday - Friday, 8:30AM - 5:00PM

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

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