Responsible for ensuring all liens are fully secured on every collateralized consumer loan funded with Neighborhood Credit Union. A robust understanding of the auto, boat, and RV purchasing process is essential for in and out of state collateralized loans. The Collateral Specialist must communicate professionally with dealers, members, sellers and Neighborhood Credit Union staff. In addition to loan documentation, the Collateral Specialist must stay informed of all in and out of state changes in title and vehicle registration processes.
Duties & Responsibilities
Other duties may be assigned.
- Responsible for effectively communicating with members, dealerships, and staff.
- Responsible for working with insurance companies regarding total losses on vehicles financed with Neighborhood Credit Union.
- Responsible for timely processing of liens for collateralized consumer loans.
- Ensures proper documentation for all title processing on vehicle purchases is obtained by Neighborhood Credit Union sales staff.
- Strong understanding of the necessity and purpose of each loan document for all loan types and the ability to answer member questions regarding each document.
- Responsible for understanding the in and out of state title process for autos, boats, and recreational vehicles.
- Must have a good understanding of all credit union products and services.
- Follows all policies and procedures regulated by the credit union as well as governmental policies, procedures and regulations.
- Performs such other functions that might be needed from time to time, and assists others to complete tasks and work assignments.
- High school diploma or equivalent (GED); and, six months to one year related experience.
- Ability to effectively communicate and present information in one-on-one and small group situations.
- Ability to read and interpret documents such as credit bureau reports, debt to income ratio reports, policy and procedure manuals and regulations.
- Ability to work well under stressful situations.
- Ability to define problems, collect data, establish facts and draw valid conclusions.
- Ability to calculate figures and amounts such as interest, percentages, rates, and ratios.
- Must be able to use the credit union's computer system for input/output transactions. Such usage includes, but is not limited to, retrieval of information, printing out individual statements of account, inputting data, updating information, special access to certain fields, and general maintenance of the credit union financial and ancillary records.