Credit Bureau Dispute Specialist I

Overview

To investigate and respond to difficult indirect and/or direct dispute investigations, CBR control reports, and manual updates. Accurately process mortgage and equity loan, consumer loan, checking line of credit, credit card and student loan fraud disputes including basic identity theft cases. Work is performed under moderate supervision.

Responsibilities

• Process, resolve and respond to basic consumer disputes related to credit bureau reporting using appropriate Credit Bureau Dispute databases
• Ensure accurate reporting to credit bureaus and interpretation of credit bureau data for use in credit decisions
• Perform servicing functions related to disputes managed through vendors (e.g. E-Oscar/CBC Innovis, Atlas and Lend Key)
• Research member credit history using servicing systems, as well as correspondence and member records regarding account activity and history
• Review and interpret account information and, within defined circumstances and authority, update/correct records and system displays
• Minimize financial risk to Navy Federal by appropriately applying and ensuring compliance with applicable federal and state laws, rules and regulations, and Navy Federal Policies and Procedures
• Remain alert to situational patterns of activity which indicate possible account fraud or abuse and advise Dispute and Fraud Section of suspicious activity
• Remain alert to potential systemic issues which may cause inaccurate reporting and work to resolve
• Stay abreast of applicable federal and state laws, rules, regulations and Navy Federal policies and procedures that govern lending
• Monitor data to ensure Metro 2 format requirements are adhered to when submitting trade line views
• Stay abreast of developments and changes to Navy Federal products, services and systems
• Process basic dispute transactions from diverse sources; manually update accounts as necessary
• Process basic dispute updates related to delinquencies, bankruptcies, special comment flags, account statuses, or other omission of data
• Administer manual updates to the four major credit reporting bureaus (e.g., Equifax, Transunion, Experian and Innovis) when adjustments are needed to update trade line views and automated updates are unavailable
• Research databases and coordinate with the credit bureaus and Navy Federal staff to provide details of trade lines from inception to conclusion
• Collaborate with credit bureaus to correct reporting inconsistencies
• Serve on teams and task groups for projects/initiatives within business unit and/or across the organization
• Perform other duties as assigned

• Experience working in a clerical, technical, or administrative position responsible for researching and analyzing account data to process and solve problems for one or more of the following products (mortgage/equity, credit card, consumer loan, checking line of credit, student loans)
• Familiarity with applicable federal and state laws, rules and regulations that govern lending (e.g., Fair Credit Reporting Act, Metro 2 format requirements, NACHA regulations, Reg Z, etc.)
• Experience exercising initiative and good judgment, prioritizing multiple tasks, solving problems and making sound recommendations
• Experience in member/customer service, preferably in a financial services organization
• Ability to work independently and in a team environment
• Ability to acquire CDIA (Consumer Data Industry Association) certification with a passing score of 80%
• Effective skill interacting with staff, management, vendors and members diplomatically and tactfully
• Effective research, analytical, and problem-solving skills
• Effective skill maintaining accuracy with attention to detail and meeting deadlines
• Effective skill performing mathematical calculations and working accurately with numbers
• Effective organizational, planning and time management skills
• Effective verbal, interpersonal and written communication skills
• Effective data base, word processing, spreadsheet, and presentation software skills (e.g., Microsoft Office, etc.)

• Experience with one or more loan products and their related automated systems
• Working knowledge of Navy Federal functions, philosophy, operations, and organizational objectives