• TMSM COC
  • Title & Insurance Administrator

    Posted: 04/11/2021

    Title & Insurance Administrator

    East Alton - Full time

     

    1st MidAmerica Credit Union has over 80 years of history servicing members of the Metro East, Illinois and Kansas City areas. We have 12 branches currently throughout the area servicing over 58,000 residents in 31 counties! 

    We are looking for service-oriented individuals to fill a Title & Insurance Administrator position in our Consumer Lending department. If you enjoy helping people, and are detail oriented, we encourage you to apply and become part of our team!

    Role:  

    To examine and process title and insurance documents in a compliant manner. To ensure that the credit union is protected from potential losses arising from uninsured collateral or unclear title documentation.

    Essential Functions & Responsibilities: 

    • Processes a member's title work for all Direct Loans in various situations as required.  This includes but is not limited to:
      • Submitting title work to the proper state and/or local office to ensure the credit union is properly placed as lienholder in cases of refinances, purchases, requests for title conversions, corrected and duplicate title requests for all state agencies as needed.
      • Issuing temporary license plates.
      • Monitor and track all title work received by the branch staff to ensure all loans and collateral are properly maintained.
      • Submits the proper tax document and fees to the appropriate state and local offices.
      • Maintain a Quality Assurance Process to monitor timely and accurate lien perfection.
      • Daily and monthly balancing of all general ledger accounts used to maintain accurate records for title work duties•   
    • Tracks and monitors loss payable insurance through the collateral protection program to ensure all loan applicants are properly insured.
      • Maintenance member accounts when necessary if member does not meet minimum insurance protection as required by the credit union.  This includes adding Collateral Protection Insurance (CPI) and recalculating payment, verifying coverage, removing CPI, refunding once proof of adequate insurance has been received.  
      • Mailing proper correspondence to the member as needed and communicating with credit union vendor to ensure all insurance requirements have been met and ensuring proof of insurance is imaged to the credit union system.  
    • Total Loss Loans:
      • Maintain all records of known total loss loans which includes working with insurance companies, filing claims, maintenance loan payment due date as appropriate.
      • Works with vendors to cancel backend products and provide documentation as needed.  Works with member to ensure all transactions are completed to finalize the loan with the credit union and ensures closed loan file is complete and accurate.  
      • Produces Letters of Guarantee, as necessary.        
      • Communicates by mail, email and phone to ensure members remain aware of the status of their process.
    • Files Uniform Commercial Code (UCC) forms on all non-titled collateral with state/local agency. 
    • Provides notary service to members and remitter service for State of Illinois.
    • Other duties as assigned.

    Performance Measurements:

    1.    To ensure, by reviewing recorded documents, clear title is appropriate prior to issue 100% of the time.
     

    2.    To correctly analyze restrictions and prepare title commitment outlining restrictions and actions required to clear title with zero errors.

    3.    To ensure accurate and efficient preparation of title commitment. 

    4.    To ensure accurate filing of all documents pertaining to title. 

    5.    To maintain a dependable record of attendance and timeliness. 

    6.    To troubleshoot and resolve title follow up problems. Contact appropriate department/organization for information. 

    Knowledge, Skills and Abilities:

    Experience: One year to three years of similar or related experience: perfecting security interest, transferring titles, filing UCC forms and tracking titles and insurance.Knowledge of the title application process and the registering/licensing of vehicles. Collateral Protection Insurance and Total Loss experience preferred

    Education: A high school education or GED. 

    Interpersonal Skills: Work involves contact with persons beyond immediate associates regarding routine matters for the purpose of giving or obtaining information which may require some discussion. Outside contacts take the form of service to the public (members or vendors), requiring ordinary courtesy in providing assistance and information. 

    Other Skills: Experience with lending and financial operating systems, Proficient with Microsoft products (Outlook, Word, Excel), Basic math skills,Typing, Keyboarding and 10-key skills 

     

    This Job Description is not a complete statement of all duties and responsibilities comprising the position 

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