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Intern - Year Round (Collateral Control)

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Navy Federal Credit Union

Sep 21, 2024

Applications are closed

  • Internship
    Full-time
    Placement Program
  • Customer Relations
    Banking & Finance
  • Vienna

Requirements

  • Must be pursuing a degree from an accredited college/university
  • Effective interpersonal, verbal, and written communication skills
  • Effective research, analytical, and problem-solving skills
  • Effective skill maintaining accuracy with attention to detail and meeting deadlines
  • Ability to exercise initiative and good judgment to make sound decisions
  • Ability to adapt to new technologies
  • Ability to provide exceptional customer service
  • Effective organizational, planning and time management skills
  • Ability to work independently and in a team environment
  • Effective database, word processing, spreadsheet, and presentation software skills

Responsibilities

  • Determine appropriate documentation for lien placement; prepare letters/forms and forward to member; track and follow-up to ensure forms are returned
  • Review member account data and/or documentation to ensure data is accurate, up-to-date and in compliance with applicable federal and state laws, rules and regulations and Navy Federal policies and procedures
  • Analyze, search, and resolve problems and discrepancies related to member accounts/loans
  • Release titles, reverse loan rates and recommend account refinances and/or changes of collateral on accounts that do not comply with loan guidelines
  • Maintain thorough knowledge of applicable federal and state laws, rules and regulations and Navy Federal policies and procedures
  • Maintain systematic, consistent, and reliable notes and contact history information on each member interaction and action taken on accounts
  • Advise Supervisor and peers of regulatory and/or procedural changes implemented by titling agencies
  • Contact registered owners, state and federal titling agencies, vehicle dealerships, etc. to resolve discrepancies with title issues and loan compliance; identify and perform related follow-up actions
  • Track and update action items in databases
  • Maintain and administer Navy Federal's collateral tracking database
  • Collect, prepare, and maintain data for analysis, reports and reference
  • Monitor, review, interpret and process requests, initiate adjustments within defined scope of authority
  • Operate and maintain standard office equipment
  • Ensure compliance with internal and external documentation and disclosure requirements
  • Perform other duties as assigned

FAQs

What is the Collateral Control team's primary responsibility?

The Collateral Control team is responsible for securing Navy Federal as the first lienholder on all paper and electronic titles, thereby collateralizing loans.

What type of internship is being offered?

This is a year-round internship that can be either full or part-time, with flexible scheduling based on your school schedule.

Is there a requirement regarding college enrollment for this position?

Yes, a requirement of this position is that you must be currently enrolled in college-level courses or a degree-seeking program throughout the duration of the internship.

Who does the Collateral Control team support?

The Collateral Control team supports Navy Federal Members, Contact Center Operations, Branch Representatives, and Collections Representatives.

What skills are required for this internship?

Effective interpersonal, verbal, and written communication skills, research, analytical, and problem-solving skills, attention to detail, the ability to exercise initiative and good judgment, and competencies in various software applications are required.

What are some of the specific responsibilities of this internship?

Responsibilities include determining appropriate documentation for lien placement, reviewing account data for compliance, analyzing and resolving problems, maintaining knowledge of relevant laws, and updating databases.

Will I receive training for this role?

Yes, you will receive training and work under moderate supervision while gaining knowledge about applicable federal and state laws and Navy Federal policies and procedures.

Is customer interaction a part of this role?

Yes, you will be required to contact registered owners, state and federal titling agencies, and dealerships to resolve discrepancies related to title issues and loan compliance.

How does Navy Federal create a positive work environment?

Navy Federal provides a meaningful career experience with a culture that is energized and engaged, along with competitive pay and generous benefits.

What recognition has Navy Federal received in recent years?

Navy Federal has been recognized as one of the Best Companies for Latinos to Work for, Best Places to Work in IT, and as one of America's Best Large Employers by Forbes among other accolades.

Does Navy Federal have a commitment to diversity in the workplace?

Yes, Navy Federal values, celebrates, and enacts diversity in the workplace and takes affirmative action to employ qualified individuals from diverse backgrounds.

Are there any requirements related to compliance with financial regulations?

Yes, you must remain cognizant of and adhere to Navy Federal policies and procedures, as well as regulations pertaining to the Bank Secrecy Act.

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Navy Federal Credit Union

Our Members Are the Mission

Finance
Industry
10,001+
Employees
1933
Founded Year

Mission & Purpose

Navy Federal is the world’s largest credit union, with more than 13 million members, $178 billion+ in assets and 24,000+ employees. Throughout campuses in Vienna, VA Pensacola, FL and Winchester, VA, as well as more than 350 branches, we serve the Armed Forces, Department of Defense, veterans and their families with world-class financial products and services. Navy Federal provides much more than a job. We provide a meaningful career experience, including a culture that is energized, engaged and committed; and fierce appreciation for our teams, who are rewarded with highly competitive pay and generous benefits and perks. Our approach to careers is simple yet powerful: Make our mission your passion. Equal Housing Lender