Job Overview
Reporting to the Manager, Delinquency and Loan Audit, the Financial Service Clerk is responsible for a variety of clerical and administrative procedures supporting the retail lending functions and the collection and foreclosure process of the credit union. This position does not have lending limits or authority.
Duties
- Provides administrative support to the retail lending function
- Verifies all retail loan documentation for completion, proper documentation and ensures credit union policy and procedures are adhered to; elevates identified deficiencies to the appropriate manager
- Maintains follow-up for any lending file deficiencies including diary systems for outstanding documents including but not limited to registered mortgage documents, mortgage renewals, insurance, and other documents requested from the borrower
- Ensures internal data reports related to retail lending are checked and discrepancies identified and corrected
- Reviews system generated loan reports, identifies discrepancies, errors and other issues and forwards to appropriate staff for action
- Administers loan insurance products including: balancing, remitting and reports; monitoring insurance on PPSAs; processes insurance claims and prepares insurance rebates
- Ensures all title issues are met and that the loan is properly recorded; conducts PPSA searches
- Maintains, records and remits property tax payments to the appropriate tax office and follows up on arrears; makes adjustments of property tax amounts as required
- Prepares monthly renewal documentation and collects fees for mortgages and loans as directed by lender
- Responds to requests for interest paid verifications bank confirmations and credit inquiries.
- Assists in the preparation of delinquency reports including allowance for impaired report; delinquency rate report; loan statistical report; prepares report of loans recommended for write-off and following up on written off loans to monitor opportunity for recapture
- Prepares and issues collection letters as instructed by management; ensures collected payments received from delinquent borrowers, collection agencies and bankruptcy trustees are processed correctly
- Receives and reviews all notices of bankruptcies and prepares responses to the bankruptcy trustee
- Prepares mortgage or personal loan payout statements for review by appropriate lender; processes mortgage payout requests, when approved by management
- Prepares mortgage releases; processes insurance rebates; prepares security releases such as PPSAs and GSAs; cancels AFTs and post-dated cheques, etc. instructed by lender or management
- Prepares periodic reports, as required, for various role responsibilities
Skills
- Strong attention to detail and accuracy
- Proven knowledge of retail lending functions, policies and regulatory environment
- Proven knowledge of retail lending administration processes and procedures
- Effective communication skills, written and oral
- Software proficiency in Microsoft 365 applications, with a focus in Excel, DMS and banking system
- Strong organizational skills with the ability to manage multiple tasks efficiently in a fast-paced environment
Qualifications
The Financial Services Clerk will have successfully completed a post-secondary certificate in Business Administration plus have one to three years relevant experience in a retail lending environment; or an equivalent combination of training and experience.
Pay: From $26.31 per hour
Benefits:
- Company pension
- Dental care
- Disability insurance
- Employee assistance program
- Extended health care
- Life insurance
- On-site parking
- Paid time off
Work Location: In person
