Deposit Trust Accounts Specialist Job at Navy Federal Credit Union
YOUR LIFE'S MISSION: POSSIBLE
You have goals, dreams, hobbies and things you’re passionate about.
What’s Important to You Is Important to Us
We’re looking for people who not only want to do meaningful, challenging work, keep their skills sharp and move ahead, but who also take time for the things that matter to them—friends, family and passions. And we're looking for team members who are passionate about our mission—making a difference in military members' and their families' lives. Together, we can make it happen.
Don’t take our word for it.
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Basic Purpose
To provide specialized service and support to members and representatives for all aspects pertaining to opening and maintaining Trust, Trustee, and Payable on Death Accounts.
Responsibilities
Qualifications and Education Requirements
Desired Qualifications and Education Requirements
Hours: Monday - Friday, 9:00AM - 5:30PM
Location: 5550 Heritage Oaks Dr. Pensacola, FL 32526 | 141 Security Dr. Winchester, VA 22602
Navy Federal is now hybrid! Our standard enterprise requirement for a hybrid schedule is to report on-site 4-16 days each month. The number of days reporting on-site will ultimately be determined by the employee's leadership and business unit needs. You will learn more throughout the hiring and on boarding process.
Salary Range: $21.00 - $32.50 hourly
Navy Federal Credit Union assesses market data to establish salary ranges that enable us to remain competitive. You are paid within the salary range, based on your experience, location and market position.
Posting End Date: 01/16/23
Job postings are subject to close early or extend out longer than the anticipated closing date at the hiring team’s discretion based on qualified applicant volume.
Responsibilities
- Establish and maintain Deposit Trust, Trustee, and Payable on Death accounts in accordance with NCUA regulations and Navy Federal policies
- Analyze members’ savings, checking, loans, lease, credit card, mortgage, certificate, and IRAs to determine appropriate account re-titling structure
- Read and interpret legal trust agreements to determine the current trustee(s) and authorized Power of Attorney transactions
- Determine eligibility for revocable and irrevocable legal trust accounts
- Verify the individual(s) legally appointed as trustee, co-trustee, or successor trustee and the documentation required to accept the appointed position; requests and verifies required documentation
- Work with other areas of Navy Federal (e.g., Decedent Accounts Section, Certificate/IRA, Savings and Checking) to calculate/adjust dividends, update account information, process transfers/adjustments, and close accounts and services
- Work closely with the Supervisor and Navy Federal Attorneys on complex trust agreements to ensure legal trust accounts are established according to trust laws and regulations to prevent litigation
- Counsel Contact Center Account Specialists, BOTAD, and Branch employees on the proper application(s) and documentation required to process a Deposit Trust, Trustee, or Payable on Death account requests
- Meet with current and potential members to answer questions and provide confidence in Navy Federal’s ability to manage their funds
- Evaluate and resolve unique situations that may occur during account establishment or inquiry process and prioritize workload to ensure expeditious handling of high visibility and urgent cases
- Initiate written communication to members confirming account re-titling, beneficiary information, outstanding application, or documentation requirements
- Monitor status of pending applications escalated to Supervisor or General Counsel for approval
- Review trust account closure requests and initiate bank wires and checks to close legal trust accounts; ensure requestor is the legally appointed trustee
- Maintain knowledge of laws and best practices related to Trust Accounts, estate accounts, probate process, legal documents, and estate planning and settlement in addition to a thorough knowledge of Navy Federal products and services for cross-promotional purposes and to counsel next of kin on actions taken to settle accounts
- Counsel members on successor trustee procedures based on death or incapacitation of current trustee(s)
- Advise members of the benefits of a legal trust account versus a beneficiary account and calculates NCUA share insurance
- Initiate letters of confirmation for estate planning documentation
- Consults with Navy Federal Supervisor and attorneys to resolve legal questions; follows up on resolution
- Make exceptions, develop solutions, or offer alternatives when dealing with complex or unusual situations
- Forward information to Correspondence Branch for completion of confirmation letter
- Perform other duties as assigned
Qualifications and Education Requirements
- Progressively responsible technical or administrative experience
- Strong knowledge of accounting, auditing, or trust agreement language in a multi-tasked, time sensitive office environment
- Knowledge of Federal/state regulations governing the functions/services of legal trusts
- Ability to comprehend, analyze, apply, and communicate regulations, specifications, instructions, and procedures
- Effective interpersonal, verbal, and written communication skills including the ability to counsel members and employees about complex trust language, procedures, and laws
- Ability to work independently, exercise initiative, sound judgment, and effectively prioritize multiple tasks
- Strong planning, analytical, problem solving, and decision making skills
- Working knowledge of PCs and related software packages
Desired Qualifications and Education Requirements
- Working knowledge of Deposit Trust Accounts operations, policies, practices, and procedures
- Knowledge of Navy Federal policies, account structure, and financial posting procedures
- Education or formal training in counseling, accounting, finance, business, or related areas
Hours: Monday - Friday, 9:00AM - 5:30PM
Location: 5550 Heritage Oaks Dr. Pensacola, FL 32526 | 141 Security Dr. Winchester, VA 22602
Navy Federal is now hybrid! Our standard enterprise requirement for a hybrid schedule is to report on-site 4-16 days each month. The number of days reporting on-site will ultimately be determined by the employee's leadership and business unit needs. You will learn more throughout the hiring and on boarding process.
Salary Range: $21.00 - $32.50 hourly
Navy Federal Credit Union assesses market data to establish salary ranges that enable us to remain competitive. You are paid within the salary range, based on your experience, location and market position.
Posting End Date: 01/16/23
Job postings are subject to close early or extend out longer than the anticipated closing date at the hiring team’s discretion based on qualified applicant volume.
Equal Employment Opportunity
Navy Federal values, celebrates, and enacts diversity in the workplace. Navy Federal takes affirmative action to employ and advance in employment qualified individuals with disabilities, disabled veterans, Armed Forces service medal veterans, recently separated veterans, and other protected veterans. EOE/AA/M/F/Veteran/Disability
Disclaimer
Navy Federal reserves the right to fill this role at a higher/lower grade level based on business need. An assessment may be required to compete for this position.
Bank Secrecy Act
Remains cognizant of and adheres to Navy Federal policies and procedures, and regulations pertaining to the Bank Secrecy Act.
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