Job Description

The Collateral Control team is responsible for securing Navy Federal as the first lienholder on all paper and electronic titles, thereby collateralizing the loan.  Collateral Control services titles by providing lien releases for those titles attached to paid off loans, or by releasing titles on a temporary basis as needed for registration purposes or to accommodate changes to registered owner information. Collateral Control supports:

• Navy Federal Members
• Contact Center Operations
• Branch Representatives
• Collections Representatives

To perform difficult work to ensure collateralized loans have valid and appropriate proof of ownership to minimize Navy Federal financial risk. Verify accounts comply with promissory notes and loan guidelines. Establish cooperative relationships with internal and external partners to ensure procedures are adhered to. Research, resolve, and respond to inquiries/issues from members, state DMVs, dealerships, and others concerning collateral issues and loan compliance. Work is performed under moderate supervision. This is a year-round, Full or Part –Time, flexible internship based on school schedule.

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

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.

• Best Companies for Latinos to Work for 2024
• Computerworld® Best Places to Work in IT
• Forbes® 2024 America’s Best Large Employers
• Forbes® 2023 The Best Employers for New Grads
• Fortune Best Workplaces for Millennials™ 2023   
• Fortune Best Workplaces for Women ™ 2023       
• Fortune 100 Best Companies to Work For® 2024
• Military Times 2023 Best for Vets Employers
• Newsweek Most Loved Workplaces 
• Ripplematch Campus Forward Award - Excellence in Early Career Hiring
• Yello and WayUp Top 100 Internship Programs

From Fortune. ©2024 Fortune Media IP Limited. All rights reserved. Used under license. Fortune and Fortune Media IP Limited are not affiliated with, and do not endorse products or services of, Navy Federal Credit Union.

Equal Employment Opportunity: Navy Federal values, celebrates, and enacts diversity in the workplace. Navy Federal takes affirmative action to employ and advance in employment qualified individuals with disabilities, disabled veterans, Armed Forces service medal veterans, recently separated veterans, and other protected veterans. EOE/AA/M/F/Veteran/Disability EOE/AA/M/F/Veteran/Disability

Hybrid Workplace: Navy Federal Credit Union is a hybrid workplace, and details will be discussed during your interview process.

Disclaimers: Navy Federal reserves the right to fill this role at a higher/lower grade level based on business need. An assessment may be required to compete for this position. Job postings are subject to close early or extend out longer than the anticipated closing date at the hiring team’s discretion based on qualified applicant volume. Navy Federal Credit Union assesses market data to establish salary ranges that enable us to remain competitive. You are paid within the salary range, based on your experience, location and market position.

Bank Secrecy Act: Remains cognizant of and adheres to Navy Federal policies and procedures, and regulations pertaining to the Bank Secrecy Act.

• 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

• 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