Job Description

Responsible for the centralized deceased processing and review of accounts related to deceased members. Acts as a liaison between the surviving family members and the Credit Union until the decedent’s account has been completely settled. Provides guidance to member facing and member impacting staff for handling deceased accounts using sound judgement and best practices, as dictated by our policy and procedures and federal/state regulations.

ESSENTIAL DUTIES AND RESPONSIBILITIES include the following:

• Serves as a vital resource and primary contact for members, employees, and survivors while working to resolve deceased accounts.

• Proactively searches for notification and verification of the passing of a member through obituaries, ACH notification, and other various avenues.

• Reviews and ensures all accounts and services of the deceased member are processed according to procedures and funds are properly disbursed to the correct beneficiaries.

• Corresponds with joints, beneficiaries, and surviving family members to ensure all necessary documentation is received while demonstrating sincerity and empathizing with their needs.

• Coordinates with various internal departments and external agencies to remediate member issues and discover viable solutions for case resolution.

• Processes Credit Life Insurance claims on all applicable outstanding loans and ensure funds are applied correctly once received.

• Petitions the Probate Court in various counties in South Carolina for Estate funds on any loan balances that are not covered by Credit Life Insurance.

• Monitors, tracks, and follows up on accounts flagged as deceased to ensure closure in a timely manner and with minimal exposure to liability.

• Coordinates with the Risk Department to research, develop, implement, and manage an Estate Program for the Credit Union.

• Acts as the primary back up to the IRA Administrator, keeping abreast of all regulatory changes and rules pertaining to IRA accounts and maintaining IRA Specialist Certification.

• Reviews dormant accounts and actively engages with members to re-establish a sustainable financial relationship. Begins the escheatment process when necessary.

• Assist the Information Governance Manager in facilitating the Credit Union’s Tax Forms Program. Coordinate testing and verification between various departments and vendors.

• Makes recommendations/suggestions on improving and streamlining processes, reducing the risk to the Credit Union, and enhancing the member experience.

• Other duties as assigned.

SUPERVISORY RESPONSIBILITIES:

No requirement.

PERFORMANCE STANDARDS:

Thorough problem-solving skills and detailed documentation are required. Must be professional in appearance and attitude and utilize interpersonal skills effectively in a team environment.

QUALIFICATION REQUIREMENTS:

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Regulatory Requirements: Your position has specific procedures that must be followed to comply with Privacy Act, Office of Foreign Assets Control (OFAC), and Bank Secrecy/Patriot Act. You will receive annual training to keep you current on any changes to these policies/procedures to assure compliance. Failure to comply with procedures may cause termination of your position as well as possible monetary penalties from the federal regulatory agency.

EDUCATION and/or EXPERIENCE:

High school graduate or general education degree (GED); and preferred three years of credit union / financial institution or related experience and training; or equivalent combination of education and experience.