Claims and Contracts Specialist

Welcome to Lafayette Federal Credit Union Careers! Our organization is growing, and we are seeking top-notch individuals to provide support to our members.

Our employees are a critical component in our endeavor to be the premier financial partner for every one of our members.

Read on to find out what you will need to succeed in this position, including skills, qualifications, and experience.

If you have excellent first-level conflict resolution skills, a high degree of confidentiality and discretion, and the ability to build relationships and solicit cooperation, then Lafayette Federal may have the perfect opportunity for you!

We are currently seeking a Claims & Contract Specialist to join our dynamic team!

About the role :

We are seeking a smart, organized, and resourceful Claims & Contract Specialist to maintain the Credit Union’s vendor management module, ensuring compliance with regulations as defined by NCUA, FFIEC, and CFPB.

The candidate will process the Credit Union’s insurance claims in accordance with NCUA and BSA regulations and the Credit Union’s policies and procedures, as it relates to fraud, corporate or on-property member incident claims.

This individual will perform a variety of clerical, administrative, and technical functions in support of the day-to-day vendor management and insurance claims processing operations of the Risk Management Division.

Education & Experience

Experience :

One year to three years of similar or related experience

Requirements

A day in the life of a Claims & Contracts Specialist will include :

• Serving as the initial response to member incidents (i.e., falls, slip, car accidents) on Lafayette premises and completing incident reports as needed and processing claims through the insurance provider.
• Reviewing all member-facing and insurance provider claims as it relates to fraudulent activity, verifying the accuracy of the details stated within the claim within LFCU applications (AE, e-Oscar, etc.

and processing the claims through TruStage. Maintaining and updating Keystone and the department’s claims database with the current claims status.

Responding to incidents and processing claims pertaining to LFCU’s Fidelity or Package of Protection policy with TruStage, as it relates to items such as errors & omissions, robberies, damage to LFCU property, ATM machines, etc.

Interfaces with appropriate business units as necessary.

Ensuring vendor corporate and contact data remains current. Accessing the vendors’ Extranet sites as needed to further research.

Preparing, scanning, and updating the NContracts software system with vendor documentation. Assisting with maintenance in setting calendar reminders and obtaining documentation as it relates to vendor risk assessments and annual reviews.

Our ideal candidate will have knowledge of :

• Reviewing basic contracts for key terms and scope of work.
• Validating new vendors through Lexis Nexis systems, Dun & Bradstreet, the Better Business Bureau, and / or the SEC website.

Researching the Internet and uploading pertinent vendor documentation, including but not limited to contracts, renewals, insurance certificates, SOC reports, financials, purchase orders, proposals, invoices, etc.

for those vendor documents approved by the VP of Risk and Vendor Management.

• Closing out claims within LFCU systems once they have been resolved and following up with pertinent parties until a resolution has been reached.
• Generating various reports to include claims status, as well as monthly and quarterly reports of claims processed, dollars recuperated or lost, and open claims.

Top benefits or perks :

Joining Lafayette Federal comes with perks to support you in your personal and professional journey.

• Employer paid (99.9%) health insurance premium for single and family coverage (HMO Plan)
• Fully funded deductible (HMO Plan)
• 401k employer matching contribution
• Income protection with life insurance, short and long-term disability

The job posting highlights the most critical responsibilities and requirements of the job. It is not all-inclusive. There may be additional duties, responsibilities, and qualifications for this job.

Lafayette Federal Credit Union is an Equal Opportunity and E-Verify Employer

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