Collateral Risk Examiner
YOUR LIFE'S MISSION: POSSIBLEYou have goals, dreams, hobbies and things you're passionate about.What's Important to You Is Important to UsWe're looking for people who not only want to do meaningful, challenging work, keep their skills sharp and move ahead, but who also take time for the things that matter to them"A cents € friends, family and passions. And we're looking for team members who are passionate about our mission"A cents € making a difference in military members' and their families' lives. Together, we can make it happen.Don't take our word for it.FORTUNE 100 Best Companies to Work ForA' (R)ComputerworldA' (R) Best Places to Work in ITFORTUNEA' (R) Best Workplaces for MillennialsForbesA' (R) America's Best EmployersBasic PurposeTo examine and evaluate documentation provided with subordination requests, collateral changes and successor in interest processing to protect and support the Equity and Mortgage Lending Portfolios. Review, research and analyze appropriate related court notices and title matters. Serve as subject matter expert to other business areas for successor in interest processes, collateral changes, and collateral subordinations.Responsibilities:Research, respond, and track escalated, complex, and sensitive inquiries relating to successor in interest, subordinations or collateral change processingProvide a high level of expertise to resolve complex inquiries, requests, and problems regarding liens, collateral changes, subordinations, and successor in interest that have escalated beyond initial reviewProvide input to management in the development and implementation of operational improvements, strategies, and initiatives for enhancementReview all documents such as power of attorneys, deeds, revocable living trusts, probated list of heirs, and letters of testamentary to determine the successor in interest, as regulated by the CFPBIdentify risk exposures identified from mortgage and equity collateral transactions; perform internal/external inquiries and preliminary investigations to protect Navy Federal financial assets; control and mitigate potential financial lossReview and analyze subordination packages presented for accuracy, completeness, and recommend for approvalOrder and analyze property valuations and credit bureau reportsCollaborate with refinancing lender or title company regarding discrepancies in documentation and set timelines for resolution of discrepancies or documentsEnsure conditions or specific rights provided to lenders on subordination agreements do not pose additional risk to Navy FederalCalculate percentage of additional risk associated with the loan to value (LTV) ratio due to the new mortgageMaintain systematic, consistent and reliable notes when making contact with the member, third party, or other lender on each loan and documents all actions taken in the servicing system of recordCollaborate with the Loans Charged to Reserve team within Mortgage Default to determine if subordination requests will be approved for loans that have been charged offAnalyze, prepare and submit valuation claims to recover a loss in assetsMonitor mortgage/equity loan guidelines and procedures to ensure compliance with GSE, Navy Federal, NCUA guidelines and requirementsReceive and process collateral changes by making contact with member(s); respond to the inquiry by determining change typeSend letter of requirements to member, answer questions pertaining to requirements and guidelines regarding the collateral changeCommunicate extensively with external settlement attorneys, surveyors, or title companies, as well as survivors of deceased, attorneys, or title companies regarding the documents requiredPresent the newly established collateral risk profile to management for final approvalServe as primary point of contact to other business units concerning collateral risk and changes, as well as successors in interest inquiries, processes, and proceduresReceive and process notifications of title to property transfers and deceased membersMaintain and display the highest degree of tact, patience, sensitivity, and confidentiality during contacts and interactions with bereaved family members as well as validated successors in interestInitiate letters to potential successors in interest conveying documents necessary to validate as successor in interestReview, research and analyze legal documents to ensure validity, accuracy and adherence to all NF and investor guidelines, accuracy, viability, and risk to credit unionPerform other duties as assignedQualifications:Advanced knowledge of CFPB servicing rules, NCUA requirements, and Navy Federal policies and proceduresWorking knowledge of current regulations and investor guidelines to offer options to successors such as assuming the loan or referring to Mortgage DefaultEffective skill in comprehending, analyzing, applying and communicating complex written legal documentsAbility to maintain and display the highest degree of tact, patience, sensitivity, and confidentiality during interactions with bereaved family members and validated successors in interestEffective word processing and spreadsheet software skillsEffective verbal and written communication skillsEffective skill exercising initiative and using good judgment to make sound decisionsAbility to work independently and in a team environmentExperience in managing multiple priorities independently and/or in a team environment to achievegoalsEffective organizational, planning and time management skillsEffective research, analytical, and problem solving skillsEffective skill interpreting and synthesizing large amounts of informationEffective skill following, interpreting and applying relevant data/instructions to guidelines, procedures, practices and regulationsWorking knowledge of financial operations/processes and proceduresDesired Qualifications:Associate's degree in Business, Finance, or related fieldWorking knowledge of NCUA regulations that govern the activities, products and services of the business unitWorking knowledge of products, services, processes, requirements, and systems related to the business unitSalary Range: $27.50 - $34.50Hours: Monday - Friday; 8:00AM - 4:30PMLocation: 820 Follin Ln. Vienna, Virginia 22180 141 Security Dr., Winchester, VA 22602Due to COVID-19 and social distancing, this position may require working from home temporarily with plans to return to campus at the listed location once Navy Federal is back to normal operations. The specific logistics for returning to campus will be determined at a future date by individual leadershipEqual Employment OpportunityNavy 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/DisabilityDisclaimerNavy 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.Bank Secrecy ActRemains cognizant of and adheres to Navy Federal policies and procedures, and regulations pertaining to the Bank Secrecy Act.