Loan Collateral & Insurance Specialist

Title: Loan Collateral & Insurance Specialist
Department:    Credit                Reports To: Director of Credit
Employment Status:              Classification: 

Position Summary: The Loan Collateral & Insurance Specialist is responsible for administering and maintaining consumer loan collateral, insurance coverage, title perfection, and debt protection activities in accordance with NCUA regulations, applicable federal and state laws, and Credit Union policies and procedures. This role supports safe and sound lending practices while delivering accurate, timely, and member-focused service.
Responsibilities: 
•    Coordinate with approved third-party credit insurance providers to initiate, monitor, and resolve life and disability claims, ensuring required documentation is complete, claim activity is properly tracked, and payments are accurately applied in accordance with Credit Union procedures.
•    Assist members throughout the insurance and claims process by providing required disclosures, forms, online support, and status updates in a clear and professional manner.
•    Monitor and maintain required homeowner’s insurance coverage for home equity and home improvement loans to ensure continuous protection of Credit Union collateral.
•    Support total loss and loan resolution events by coordinating loan payoffs, cancelling applicable debt protection and extended warranty products, and filing GAP claims in compliance with vendor agreements and regulatory requirements.
•    Track, identify, and resolve lien and title deficiencies on open auto loans using approved third-party title processors (e.g., VITU), ensuring timely lien perfection in accordance with applicable state laws and internal controls.
•    Review lien perfection documentation from TxDOT or other applicable agencies for completeness, accuracy, and compliance with lien recording requirements.
•    Process title documentation received from branches and work collaboratively with local tax offices to support accurate lien processing and member service.
•    Process vehicle loan payoffs and issue lien releases in a timely manner, consistent with Credit Union policy, state requirements, and regulatory expectations.
•    Verify and release qualifying automobile sight drafts and Letters of Guarantee in accordance with established lending and disbursement controls.
•    Receive, post, and reconcile credits related to Automobile Drafts and Letters of Guarantee to the appropriate general ledger accounts in accordance with accounting controls.
•    Identify, document, and escalate member issues, complaints, or exceptions to the Director of Credit and Branch Management as required.
•    Develop and maintain professional working relationships with automobile dealers, insurance vendors, Credit Union staff, and members to support efficient loan servicing.
•    Perform assigned post-closing and quality control reviews of funded loans to ensure documentation accuracy and regulatory compliance.
•    Maintain appropriate records, files, and documentation in accordance with record retention requirements.
•    Maintain inventory of office supplies for the Credit Department and support overall departmental operations.
•    Perform other duties as assigned in support of Credit Union lending and servicing functions.
 

Skills
•    Strong customer service focus with clear, professional written and verbal communication skills.
•    Detail-oriented professional with excellent organizational and time-management abilities.
•    Proficient in Microsoft Windows and Excel; quick to learn lending and loan servicing systems.
•    Effective problem-solver with experience resolving title and insurance discrepancies.

Education and Experience
•    Minimum of 2 years’ experience in a credit union or financial institution lending environment, supporting consumer loans by managing collateral requirements, including home and auto insurance verification, motor vehicle title perfection, and debt protection products, in compliance with credit union policies and regulatory standards.
•    Minimum of 1 year of customer or member service experience in a similar role within a credit union or financial institution.

ADA Requirements
•    Perform primarily sedentary work with limited physical exertion and occasional lifting of up to 5 lbs. Must be capable of climbing/descending stairs in emergency situation. Must be able to operate routine office equipment including telephone, copier, facsimile, and calculator. Must be able to routinely perform work on computer for an average of 6-8 hours per day. Must be able to work extended hours whenever required or requested by management. Must by capable of regular, reliable and timely attendance.