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Insurance Specialist
Credit Union of Texas
Allen, TX
Category
Finance
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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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