Loan Servicing Representative

Alliant Credit Union; Chicago (IL); On-site; USD 38,000 - 54,000; Full time

Benefits offered by this job

Annual performance bonus

Work from home up to 3 days a week

Paid parental leave

Employee discount programs

Time off including paid personal and s

11 paid holidays

Education reimbursement

Job summary

Alliant Credit Union in Chicago seeks a Loan Servicing Specialist to support post-origination processes through payoff, securing vehicle liens, CPI, and refunds. You will handle inbound/outbound member and dealer inquiries, ensure compliance with federal and state laws, and work to meet service level targets while delivering accurate, efficient service.

Collaborate with internal teams and third-party vendors to resolve refunds and title releases, maintaining data integrity and high member

Qualifications

• High school diploma or equivalent required.
• At least 1 year in customer service, call center, collections or loan servicing.
• Experience with CPI, vehicle liens, title perfection, and refunds preferred.
• Ability to meet service level targets and comply with laws.

Responsibilities

• Assist CPI by adding premiums/refunding premiums on auto and RV loans.
• Process vehicle liens on titles and release liens with dealers and members.
• Submit ancillary product cancellations (GAP, MRC) to dealers for paid-off loans.
• Follow up with dealers and administrators to obtain refund information.
• Answer inbound consumer loan inquiries on title perfection, CPI, and servicing.
• Serve as a de-escalation point for member issues and ensure timely resolution.
• Collaborate with internal and external partners to resolve issues and improve processes.
• Assist with reports related to title releases and home equity mortgage releases.
• Support productivity targets and perform quality assurance reviews.
• Identify and implement continuous improvement opportunities.

Skills

Customer service

Communication skills

De-escalation

Compliance knowledge

Education

High School or Equivalent

1 Year Customer Service Call Center, Consumer Collections, Loan Servicing or related

Job description

Support different loan related processes from post-origination through loan payoff. Responsible to secure liens on vehicle titles, placing and removing Collateral Protection Insurance (CPI) on consumer loans, securing ancillary product refunds and answering inbound calls. Act as a subject matter expert for inquiries or questions related to consumer loans for both internal and external members by meeting established service level requirements and following compliance with federal and state laws and in accordance with credit union’s policies and procedures.

• Administer CPI by adding premiums/refunding premiums on auto and RV loans. Perform system adjustments of recalculation of payments and refunds.
• Work on vehicle liens on title as security for credit obligations and release liens by working directly with dealers and members.
• Submit ancillary product cancellations forms (GAP, MRC and others) to dealers for loans that have been paid off prior to maturity date or where the collateral has been repossessed and liquidated. Work with third party vendors who assist with these processes.
• Follow up with outbound calls/emails with dealers and/or ancillary product administrators to obtain the refund information or other documentation to resolve the disposition of the refund.
• Answer inbound consumer loan inquiry queue calls such as requests related to title perfection and release, CPI inquiries and other requests related to servicing consumer loans.
• Serve as a de-escalation point for internal and external member issues and take ownership for timely resolution.
• Interact both verbally and in writing with multiple internal and external partners to resolve member issues, improve processes and create a favorable lending experience.
• Assist on various operational reports related to releasing vehicle titles and home equity mortgage releases, and other miscellaneous processes.
• Achieve individual and departmental operational service level productivity targets.
• Perform and document quality assurance reviews related to consumer loan servicing processes.
• Identify continuous operational improvement opportunities and service efficiency initiatives. Recommend solutions and participate in the implementation of agreed-upon changes.

Education &Years of Experience

• Minimum - High School or Equivalent
• Minimum - 1 YearCustomer Service Call Center, Consumer Collections, Loan Servicing or related

Typical hiring range: $38,100.00 to $53,900.00 Annually. Actual compensation will be determined using factors such as experience, skills & knowledge.

*Note that eligibility and cost of benefits can vary depending on the number of regularly scheduled hours, and job status such as regular full-time, regular part-time, or temporary employment.

Adhere to and ensure compliance of all business transactions with policy and process of the Bank Secrecy Act. Ensures compliance with all applicable state and federal laws, company procedures and policies. Maintains integrity and ethics in all actions and conversations with or regarding credit union members and their accounts; complies with Privacy Act directives.

The responsibilities listed do not contain a comprehensive listing of activities, duties or responsibilities that are required of the employee for this position. Duties, responsibilities and activities may change at any time with or without notice.

Equal Opportunity Employer

Support different loan related processes from post-origination through loan payoff. Responsible to secure liens on vehicle titles, placing and removing Collateral Protection Insurance (CPI) on consumer loans, securing ancillary product refunds and answering inbound calls. Act as a subject matter expert for inquiries or questions related to consumer loans for both internal and external members by meeting established service level requirements and following compliance with federal and state laws and in accordance with credit union’s policies and procedures.

Essential Responsibilities

• Administer CPI by adding premiums/refunding premiums on auto and RV loans. Perform system adjustments of recalculation of payments and refunds.
• Work on vehicle liens on title as security for credit obligations and release liens by working directly with dealers and members.
• Submit ancillary product cancellations forms (GAP, MRC and others) to dealers for loans that have been paid off prior to maturity date or where the collateral has been repossessed and liquidated. Work with third party vendors who assist with these processes.
• Follow up with outbound calls/emails with dealers and/or ancillary product administrators to obtain the refund information or other documentation to resolve the disposition of the refund.
• Answer inbound consumer loan inquiry queue calls such as requests related to title perfection and release, CPI inquiries and other requests related to servicing consumer loans.
• Serve as a de-escalation point for internal and external member issues and take ownership for timely resolution.
• Interact both verbally and in writing with multiple internal and external partners to resolve member issues, improve processes and create a favorable lending experience.
• Assist on various operational reports related to releasing vehicle titles and home equity mortgage releases, and other miscellaneous processes.
• Achieve individual and departmental operational service level productivity targets.
• Perform and document quality assurance reviews related to consumer loan servicing processes.
• Identify continuous operational improvement opportunities and service efficiency initiatives. Recommend solutions and participate in the implementation of agreed-upon changes.

Education &Years of Experience

• Minimum - High School or Equivalent
• Minimum - 1 YearCustomer Service Call Center, Consumer Collections, Loan Servicing or related

Compensation & Benefits:

Typical hiring range: $38,100.00 to $53,900.00 Annually. Actual compensation will be determined using factors such as experience, skills & knowledge.

Benefits: Alliant provides a benefits package including health care, vision, dental, and 401k with employer match including:

• Annual performance bonus
• Work from home up to 3 days a week
• Paid parental leave
• Employee discount programs
• Time off including paid personal and sick days
• 11 paid holidays
• Education reimbursement

*Note that eligibility and cost of benefits can vary depending on the number of regularly scheduled hours, and job status such as regular full-time, regular part-time, or temporary employment.

Adhere to and ensure compliance of all business transactions with policy and process of the Bank Secrecy Act. Ensures compliance with all applicable state and federal laws, company procedures and policies. Maintains integrity and ethics in all actions and conversations with or regarding credit union members and their accounts; complies with Privacy Act directives.

The responsibilities listed do not contain a comprehensive listing of activities, duties or responsibilities that are required of the employee for this position. Duties, responsibilities and activities may change at any time with or without notice.

Equal Opportunity Employer

Equal Opportunity Employer This employer is required to notify all applicants of their rights pursuant to federal employment laws. For further information, please review the Know Your Rights notice from the Department of Labor.