SCRA Specialist I

Navy Federal Credit Union - Winchester, VA

Full-time - Entry Level

Winchester, VA

Credit Intermediation and Related Activities

About the position

The SCRA Specialist I at Navy Federal Credit Union is responsible for reviewing and processing requests for interest rate reductions under the Service member Civil Relief Act (SCRA). This role involves serving members by addressing inquiries related to SCRA and Navy Federal lending products, as well as creating and executing reports for leadership. The position operates under moderate supervision and requires effective communication and analytical skills to ensure compliance with federal guidelines.

Responsibilities

• Prepare, research, and process requests from members applying for the interest rate reductions under the SCRA
• Validate receipt of members' military documents and active duty information on documentation
• Determine acceptability of active duty documents and eligibility of lending accounts; evaluate SCRA requests against federal guidelines to determine approval/disapproval of document for SCRA
• Audit and adjust Navy Federal Mortgages, Consumer Loans, Credit Cards and Checking Lines of Credit (CLOCs) for qualifying members of SCRA
• Perform complex debt account transactions and adjustments, using several NFCU subsystems, to process interstate and minimum monthly payments changes and adjustments
• Complete rate, amortizing, and billing adjustments on eligible accounts at both initiation and release from SCRA coverage
• Reimburse (if applicable) accounts for overpaid interest due to retro-active SCRA adjustments using applicable lending systems and JVS
• Submit reimbursement requests to investors monthly and quarterly (i.e., Fannie Mae, Ginnie Mae and Freddie Mac); monitor and insure reimbursements are received by investors
• Conduct mandatory quarterly and monthly analysis and investigate SCRA Investor mortgages (Fannie Mae, Ginnie Mae, and Freddie Mac) to confirm compliance with investor regulations
• Regularly monitor and review SCRA account activity and follow up with members when orders near expiration date to determine continued eligibility
• Place members into the SCRA database, process extensions and release letters
• Review/analyze Navy Federal Accounts under SCRA protection for reporting purposes
• Perform monthly and quarterly audits on Navy Federal mortgage accounts
• Respond/investigate/research/resolve internal audit findings
• Review and process approved and declined SCRA coverage from Service Partners
• Counsel internal partners and external members regarding Navy Federal's policy regarding compliance with the SCRA
• Advise members of SCRA requirements and applicable Navy Federal rules and regulations
• Research and investigate military documents to make decisions supporting Navy Federal's policy in compliance with the SCRA and complex questions regarding eligibility
• Research and respond to CFPB and BB complaints
• Serve as subject matter expert regarding Navy Federal policies regarding the extension of SCRA protection
• Performs other related duties as assigned

Requirements

• Familiarity with financial institution and lending practices, principles and regulations
• Experience in member/customer service preferably in a call center/retail banking/financial institution
• Familiarity with financial transaction/processing related responsibilities
• Ability to work independently and in a team environment
• Experience in managing multiple priorities independently and/or in a team environment to achieve goals
• Effective skill interacting with staff, management, vendors, members diplomatically & tactfully
• Effective verbal and written communication skills
• Effective skill navigating multiple screens and PC applications and adapting to new technologies
• Effective skill performing mathematical calculations and working accurately with numbers
• Effective word processing and spreadsheet software skills
• Ability to work effectively and efficiently with automated systems
• Effective skill maintaining accuracy with attention to detail and meeting deadlines
• Effective skill reviewing documents for errors, inconsistencies or missing information
• Effective research, analytical, and problem solving skills
• Effective skill following, interpreting and applying guidelines, procedures, practices, regulations
• Effective skill exercising initiative and using good judgment to make sound decisions
• Effective organizational, planning and time management skills

Nice-to-haves

• Basic skill in interpreting, understanding military orders and government documentation
• Familiarity with NFCU products, services, programs, policies and procedures
• Exposure to SCRA database functions and applying interest/payment adjustments for consumer loans & credit cards
• Exposure to utilizing lending systems
• Familiarity with SCRA rules and regulations

Benefits

• Highly competitive pay
• Generous benefits and perks
• Recognition as one of the best companies to work for in various categories
• Hybrid workplace options