Account Settlement Specialist

Job Summary :

Process all deceased accountholder claims in a timely manner. Ensure survivors are treated with compassion and are supported throughout the account settlement process.

Coordinate with Lending and Credit Solutions staff as applicable to settle loans where the borrower is deceased. Act as back-up for the Operations Support Specialist, providing support and guidance to frontline staff related to specialized account types and services.

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Duties & Responsibilities :

• Process all deceased accountholder claims in a timely manner, ensuring survivors are treated with compassion and are supported throughout the account settlement process.
• Ensure adverse impact to joint accountholders is minimized and carefully balanced with the Credit Union’s rights of offset.
• Coordinate with Lending and Credit Solutions staff as applicable to settle loans where the borrower is deceased.
• Gather appropriate documentation as needed for all deceased claims.
• Conduct research related to insurances such as Life Savings Benefit and Credit Life & Disability. File claims as applicable.
• Disburse account funds to beneficiaries in accordance with the account’s Payable of Death Beneficiary designations.
• Maintain a thorough working knowledge of Florida statutes and applicable federal regulations.
• File Caveats and / or Statement of Claims with the appropriate Probate Courts to secure the Credit Union’s debtor rights against an Estate when monies are owed.
• Liaise with Probate clerks, Estate attorneys, and the Credit Union’s counsel as needed.
• Provide guidance to frontline staff related to deceased payee check negotiation.
• Liaise with branch management and represent the Credit Union as an Officer of the lessor during court-ordered Safe Deposit Box entry.
• Oversee all aspects of Estate Accounts.
• Maintain department procedures related to account settlement.
• Assist Operations Support Specialists with reviewing Trust documents, Power of Attorney documents, and Guardianship documents to ensure accounts are opened and maintained in accordance with the all applicable laws and regulations.
• Represents the Credit Union as an Officer of the lessor during safe-deposit box inventories of a decedent.
• Performs other duties as assigned by management.

Requirements :

• Associate’s degree or equivalent combination
• 1-3 years of Credit Union or Banking experience

Every employee is required to comply with all Bank Secrecy Act (BSA) policies and procedures, and to attend required BSA-related training as assigned.

The following are some benefits offered to employees :

• Paid Holiday
• Paid Birthday
• Paid Sick and Personal Days
• Paid Vacation
• Retirement / 401K with matching contributions
• Medical, Dental and Vision Insurance
• Life Insurance and Long Term Disability
• Tuition reimbursement for Undergraduate and Graduate courses
• Various Incentive Programs
• Career opportunities
19 days ago