Job Title: Consumer Loan Servicing Specialist
Department: Consumer Lending
Reports To: AVP of Consumer Lending
About Webster First Federal Credit Union
Established in 1928 and driven by a goal to make life more comfortable for our community, Webster First Federal Credit Union has grown to an over one-billion-dollar financial institution, serving over 90,000 members across our banking and lending services. Our mission is to leverage who we are as a credit union to empower our members to live their best financial lives. We focus on members, not profits, and our values of strength, exceptional service, and “New England authenticity” are at the heart of everything we do.
We can’t do it without an exceptional workforce! With approximately 250 employees spread across 15 locations in Massachusetts, Webster First Federal Credit Union is committed to empowering a diverse and inclusive workforce that is representative of the community we serve. Our members come from all walks of life and, not unintentionally, so do our staff. We hire great people from a wide variety of backgrounds, not just because it’s the right thing to do, but because it makes us stronger.
Summary
The Consumer Loan Servicing Specialist is responsible for executing the day-to-day tasks associated with departmental operations which include the origination and servicing of the consumer loan portfolio and ancillary services. All training will be provided at the team level or through the training department as available or needed.
Essential Duties and Responsibilities:
- Perform post-closing quality/error review of completed loans including income analysis
- Create and mail adverse action letters
- Create and review reporting
- Demonstrate exceptional “customer service” to our members and internal customers
- Assist members with routine account-related questions and concerns
- Perform various duties related to vehicles titles:
- Process paperwork to produce vehicle titles on new loans
- Manage and utilize title tracking system
- Process the release of vehicle titles to members at payoff
- Send letters of guarantee to insurance companies
- Complete UCC-1 forms to release WFFCU’s security interest on a title
- Complete lien release affidavit when a member has lost a title
- Performs all tasks related to CPI (force-placed insurance) including insurance add-on’s, refunds, recalculating payments, working reports and notifying members
- Track and maintain credit reports used in cross-selling
- Process Skip-A-Pay requests
- Prepare paperwork/files on delinquent loans and forward to the Collections department
- Identify paid loans for the month and process a Minnesota Life Insurance report for accounting to process and issue rebates, process payments of insurance and debt cancelation, process claims
- Quote payoff amounts to members, dealers on trade-ins, and insurance companies on losses
- Process loan payoffs and pull files to release titles
- Perform duties related to the department such as:
- Scanning documents
- Sort and process incoming mail
- Filing
- Train and educate new staff upon request
- Maintain a neat and orderly teller work area
- Other duties as assigned including:
- Perform a detailed quality review of indirect loan documents
- Program and fund indirect loan packages
- Interact with and build relationships with indirect dealers and vendor partners
- Assist in dealer management
- Perform indirect loan funding transactions and accounting
- Initialize ACH transactions to fund dealers
- Interact with accounting department
This job has no supervisory responsibilities.
- Ability to read, analyze, and interpret written and oral instruction.
- Ability to present information and respond to questions from members of management and credit union members.
- Ability to add, subtract, multiply, and divide in all units of measure, using whole numbers, common fractions, and decimals.
- Ability to define problems, collect data, establish facts, and draw valid conclusions.
- High school diploma or GED
- Six months to one year of credit union/banking experience preferred.
Physical Demands & Work Environment
This role primarily takes place in a professional office environment and involves sedentary work, at a desk or teller station, using a computer, and engaging in phone or video conversations. The noise level is generally moderate. Employees may need to sit or stand for extended periods, move about the office, and occasionally lift, push, pull, or carry items up to 20 pounds. Some repetitive motion including movements (motions) of the wrists, hands, and/or fingers. Employees are required to have visual acuity to perform activities such as transcribing, viewing and using a computer, and reading documents, as well as the ability to communicate verbally with colleagues, supervisors, members, and visitors. Reasonable accommodations will be provided as needed.
Pay Range: $20 - $22 per hour
Note: This range reflects the full salary band for positions at this level. Individual compensation is determined based on experience, skills, and internal equity.
