Massachusetts Institute of Technology Consumer Loan Servicer in Cambridge, Massachusetts

Consumer Loan Servicer

  • Job Number:


  • Functional Area:

Credit Union

  • Department:

Credit Union

  • School Area:

Credit Union

  • Employment Type:


  • Employment Category:


  • Visa Sponsorship Available:


  • Schedule:

35 hrs/wk., 9:00 A.M. - 5:00 P.M.

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Working at MIT offers opportunities, an environment, a culture – and benefits – that just aren’t found together anywhere else. If you’re curious, motivated, want to be part of a unique community, and help shape the future – then take a look at this opportunity.

CONSUMER LOAN SERVICER, MIT Federal Credit Union (MITFCU), to conduct daily servicing and closing coordination of consumer loans and VISA credit card portfolio. Will be responsible for one of the three servicing functions (consumer loan servicing, VISA loan servicing, or loan closing coordination) with backup responsibility for the others. Responsibilities include maintaining the VISA credit card portfolio by adhering to regulatory updates and changes to database associated with card processor, including inputting loan documentation in VISA database (Springboard) and ordering replacement cards; maintaining compromised accounts management service internal database and ensuring proactive and timely fraud notification to members; processing daily VISA reports for accounting and fraud purposes, following up on Falcon fraud alerts with members regarding suspicious credit activity, handling all aspects of VISA fraud while maintaining database of all pre-bond and bond claims, working with accounting department on bond claim reimbursement, and acting as liaison to The Members Group (TMG) and CUNA Mutual; ensuring risk compliance best practices are followed/implemented; processing cash advances and sending credit card payoffs to other creditors, filing cash advance slips, posting payments, and reviewing previous day’s work for completion; performing quality control review of lending documents and checking for compliance changes; and monitoring VISA returned mail.

Job Requirements

REQUIRED: high school diploma or its equivalent; at least two years’ experience, at least one of which is in the banking/credit union industry, preferably lending, credit union operations, or related area; superior member and internal service skills; ability to form long-term business relationships; clear, concise verbal and written communication skills; and working knowledge of personal computers. Associate’s degree and/or college coursework and Microsoft Office proficiency preferred. Job #15804-4


MIT is an equal employment opportunity employer. All qualified applicants will receive consideration for employment and will not be discriminated against on the basis of race, color, sex, sexual orientation, gender identity, religion, disability, age, genetic information, veteran status, ancestry, or national or ethnic origin.