Credit Reporting Specialist

ELGA Credit Union
Credit Reporting Specialist

Department: Lending Center
Reports To: Lending Operations Manager

Classification: Non-Exempt

Location: Reports to the Michigan ELGA Headquarters (6065 Grand Pointe Blvd. Grand Blanc , MI 48439) or our Florida Op Center (240 NW Peacock Blvd, Unit 302. Port St. Lucie, FL 34986) on a consistent basis.

Role:
The Credit Reporting Specialist is a critical compliance and operational role responsible for ensuring the accuracy, integrity, and regulatory compliance of all credit bureau reporting activities. This position serves as the organization's subject matter expert for Metro 2 reporting standards, credit bureau dispute resolution, and credit reporting compliance across all lending products. The role ensures that consumer and commercial account information furnished to the credit bureaus is accurate, complete, timely, and defensible, and that disputes and reporting exceptions are resolved within applicable regulatory timeframes.

Essential Functions & Responsibilities:
25% - Credit Bureau Reporting and Maintenance
•Manage and oversee the monthly credit reporting cycle for all major credit bureaus (Equifax, Experian, and TransUnion, and Innovis where applicable), including generation, validation, and timely transmission of the Metro 2 file.
•Confirm file acceptance, reconcile rejected or suspended records, and ensure all consumer and commercial loan and deposit accounts report accurately.
•Ensure accurate reporting of account status, account and payment ratings, current and scheduled balances, actual payment amounts, payment history profile, and Date of First Delinquency (DOFD), including correct treatment of charge-offs, paid accounts, and account closures.
•Apply special comment codes and compliance condition codes appropriately (for example, disputes, disaster/forbearance, and bankruptcy), and maintain compliance with current CDIA Metro 2 Format specifications.
•Correct reporting errors including account status, charge-offs, balances, and payment history, and validate that corrections are reflected at all bureaus that received the data.

20% - Exception and Correction Management
Investigate and resolve credit bureau reporting exceptions promptly, identifying and addressing root causes rather than symptoms.
•Manage high-volume correction queues, including large-scale files such as Experian Metro 2 corrections exceeding 800 items, prioritizing by risk and regulatory exposure.
•Process furnisher-initiated corrections and deletions through the e-OSCAR Automated Universal Dataform (AUD) and ensure changes propagate across all applicable bureaus.
•Track exception volumes, aging, and resolution against defined service levels, and report trends and root causes to management.
•Partner with lending, collections, loan servicing, deposit operations, and IT/core teams to ensure accurate end-to-end data flow.

15% - Dispute Resolution and Compliance
•Manage credit bureau disputes received through Automated Consumer Dispute Verifications (ACDVs) and direct consumer disputes, ensuring timely, accurate, and well-documented responses.
•Conduct reasonable investigations and respond within the Fair Credit Reporting Act (FCRA) timeframe of 30 days (extendable to 45 days where the consumer provides additional relevant information during the period), using accurate e-OSCAR response codes (verified, updated, deleted).
•Process direct disputes consistent with FCRA u00a7 623(a)(8) and Regulation V (12 CFR 1022.43), and ensure corrections are reported to every bureau that received the information, not only the disputing bureau.
•Interpret and apply ECOA codes, Metro 2 codes, and credit reporting guidelines, and handle special scenarios such as identity-theft blocks, bankruptcy, and deceased-account reporting.
•Support handling of regulatory and CFPB consumer complaints related to credit reporting, ensure compliance with federal credit reporting requirements, and maintain dispute documentation for at least five years.
•Monitor trends in disputes and reporting errors to identify systemic issues and mitigate future risk.

15% - Subject Matter Expertise and Support
•Serve as the organization’s primary subject matter expert for credit reporting, Metro 2 standards, and bureau systems.
•Provide guidance to lending and operational teams on reporting requirements, red flags, and best practices.
•Develop and maintain documentation, procedures, and training materials related to credit reporting, referencing the CDIA Credit Reporting Resource Guide.
•Act as the liaison between the credit union and the credit bureaus, e-OSCAR, and core/loan-origination system vendors as needed.

15% - Process Improvement and Risk Management
•Identify inefficiencies and control gaps in credit reporting processes and recommend and implement improvements to enhance accuracy and reduce exceptions.
•Establish and monitor data-integrity controls across all systems that feed credit bureau reporting.
•Support audit, merger integration, and regulatory examination requests related to credit reporting, including data validation and remediation.
•Monitor key risk indicators for credit reporting and escalate emerging or systemic issues through established governance.

5% - Staying Updated: Keeping abreast of regulatory changes and industry trends to proactively address emerging compliance risks.

5% - Other related duties as needed.

Performance Measurements:
1. To meet established expectations of ELGA's Core Factors including but not limited to Accountability, Attitude, Communication, Competence, Continuous Improvement & Innovation and Relationship Building.
2. Performs monthly dispute responses within FCRA timeframe.
3. Performs monthly credit reporting transmitted on schedule.
4. Monthly monitoring of Bureau file reject/suspense rate.
5. Correction files cleared per cycle.
6. Quarterly review of root-cause error rate. Takes action or provides recommendation to solve the error to continually reduce error rate.
7. Participates in audits and takes action to resolve audit findings.

Knowledge and Skills:

Experience:
Three years to five years of credit reporting, lending, loan servicing, credit solutions or compliance including direct experience with Metro 2 reporting and credit bureau dispute resolution.

Education:
(1) A two-year college degree, or (2) completion of a specialized certification or licensing, or (3) completion of specialized training courses conducted by vendors, or (4) job-specific skills acquired through an apprenticeship program.

Interpersonal Skills:
Work involves contact with persons beyond immediate associates regarding routine matters for the purpose of giving or obtaining information which may require some discussion. Outside contacts take the form of service to the public (members or vendors), requiring ordinary courtesy in providing assistance and information

Other Skills:
' Strong understanding of credit reporting, regulations and compliance principles
' Proven experience in the financial services industry, preferably in lending compliance
' Excellent analytical and problem-solving skills
' Strong communication and interpersonal skills to effectively collaborate with different departments
' Detail-oriented with strong organizational abilities

Work Environment:

Work is primarily conducted in the office with flexibility for occasional remote work.