Insurance Specialist

Credit Union of Texas
Allen, TX
Category Finance
Job Description
The Insurance & Impound Specialist is responsible for protecting the credit union's collateral position by ensuring continuous insurance coverage on secured loans and managing all impounded or towed vehicle accounts.

Requirements

  • File insurance claims with Collateral Protection Insurance (CPI) vendor for qualifying losses
  • Submit claims to members' primary insurance carriers when the credit union is listed as lienholder
  • Monitor claim status from initiation through settlement
  • Review insurance settlement checks for accuracy and confirm proper endorsement and posting to member accounts
  • Identify accounts eligible for GAP, VSC, credit life, disability, or other ancillary product claims and initiate refund or claim processes as applicable
  • Request and process refunds of unused ancillary products upon payoff, total loss, repossession, or charge-off in accordance with policy
  • Manage all impounded vehicle accounts from notification through resolution
  • Verify legal right to repossess or recover in compliance with state laws
  • Coordinate with towing companies, impound lots, repossession agents, and law enforcement when necessary
  • Recommend recovery strategy (redeem, repossess, release to member, or abandon)
  • Ensure timely action to prevent excessive storage accumulation
  • Document chain of custody and condition of recovered vehicles
  • Partner with Collections to evaluate delinquent accounts with insurance or impound risk
  • Provide recommendations for early intervention on high-risk collateral
  • Assist in skip-tracing and collateral location efforts when appropriate
  • Support bankruptcy or legal teams when insurance or impound matters intersect with filings
  • Ensure compliance with state repossession and impound laws, NCUA regulations, UCC Article 9 (secured transactions), and CFPB guidelines

Benefits

  • Generous Paid Time Off
  • 401k Matching
  • Retirement Plan
  • Visa Sponsorship
  • Four Day Work Week
  • Generous Parental Leave
  • Tuition Reimbursement
  • Relocation Assistance
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