The successful candidate in this position rotates between two functions within Special Services Members Choice Protection (MCP) and Trusts, Power of Attorneys, Levies and Subpoenas and is expected at the end of 3 months to take on the rotation of handling Deceased member accounts. The incumbent serves as the primary contact person for processing Trusts, Power of Attorneys, Levies, Subpoenas and individuals requiring help with Members Choice Protection and at the end of three months will start to work on the closure of deceased member accounts. Work involves moderate difficulty in researching and compiling information and working with the Legal and Compliance department on various issues. Resources to do the job require an understanding of credit union policies and legal processes along with familiarity with the documents required to close deceased accounts. Knowledge of all products and services also required. General supervision is received from the Supervisor of IRA/HSA and Special Services.
Trusts, Power of Attorneys, Subpoenas, Levies and Garnishment:
Processes and establishes accounts with specific legal requirements ranging from Revocable/Irrevocable Living Trust, Power of Attorney, Letters of Conservatorship/Guardianship accounts.
Reviews copy of required legal documents for account requirements and direction of authorization.
Obtains a notarized Power of Attorney Affidavit on named Attorney in fact (POA Agent) to minimize liability exposure.
Verifies account legal name and signature of Grantors/Trustees and Power of Attorney Principal for Fraud Management.
Researches production of records and from legal matters served for Subpoenas, Depositions, Grand Jury, Restraining Orders to Withhold, IRS and/or Social Security Administration Information Subpoena Orders.
Establishes accounts and coding for tracking and/or restricted account activity access such as levies and garnishments.
Sends member notification legal notice received for regulatory compliance with Financial Privacy Act.
Researches production of records from legal matters served for Subpoenas, Depositions, Grand Jury, IRS and/or Social Security Administration Information Subpoena Orders.
Reviews and researches records for period of dates for production of records requested to meet legal order requirements.
Accepts notification from various credit union employees, attorneys and family members regarding deceased member.
Acts as the main contact for joint owner/beneficiaries and attorneys inquiring on deceased accounts.
Compiles and reviews all information pertaining to the deceased member: joint owners, beneficiaries, accounts, membership applications, joint owner and beneficiary change forms, loans, credit cards. Prepares a file and flags the account with a Deceased Warning Code.
Determines who the proper joint owner, beneficiaries and/or trusts are and sends appropriate correspondence to the proper parties.
Advances due dates on loans, deletes required minimum distributions for IRAs, checks for social security payments and places hold for return to U.S. Treasury if received after date of death. Places hold on payroll deductions received after date of death, status ATM and credit card, closes checking account.
Reviews correspondence and legal documents received from attorneys, beneficiaries and joint owners.
Processes payoffs on loans from reimbursement of insurance or MCP claim. If not insured, gives file to Collections department. Processes payoffs on credit cards. Processes payoffs on mortgages or works with Mortgage Department to re-issue the mortgage.
Disburses funds to joint owners, beneficiaries and/or Trusts via transfer to existing account or opens new account for family member and transfers the funds.
Coordinates the removal of deceased owner or refinancing for all types of loans.
Solicits new memberships and sales of all product types, including loans and credit cards.
Works daily comments follow-up report and telephones or prepares written correspondence where required.
Reviews changes to IRA/HSA rules and regulations regarding the closing of IRA/HSA accounts, establishing sub-accounts and
Members Choice Protection (MCP):
Primary contact for members regarding MCP claims.
Processes all MCP claims, researches pertinent information and creates a file.
Submits claims to CUNA via the internet; sends correspondence to the member.
Indicates claim information on members account.
Applies payments to members loans received via ACH from CUNA Mutual Insurance Group.
Removes, adds, and changes coverage on loans.
Refunds premiums to members accounts if applicable.
Closes out old files that have been closed by CUNA monthly.
Provides clear and concise information to those members who do not understand the claims process or have had their claims denied.
Maintains a good working relationship with our partner, CUNA Mutual.
Processes incoming mail from CUNA and prepare for imaging.
Completion of a Bachelor's degree or Paralegal Certificate and one to three years experience working in a customer service role; or an equivalent combination of training and experience. Experience working in the insurance industry or with legal documents in the area of account disbursement a plus. Knowledge of legal processes and documents needed when closing deceased accounts. Understanding of IRA Distribution rules. Professional written and verbal communication skills. Demonstration of proficiency in MS Word.