Consumer Loan Underwriter
SUMMARY/OBJECTIVE:
Responsible for approving and denying Consumer loans to achieve profitable member and asset growth. Identifies and calculates risk, works with staff to gather proper paperwork needed to assess loans. Maintains a professional approach to assessing the credit needs while following the established Lending Policies, Procedures and guidelines of the Credit Union and Federal/State rules and regulations. Promote and cross sell credit union products and services for all consumer loans that are underwritten. This position also maintains thorough knowledge of lending products and services and understands the department’s internal processes that support these products and services.
FLSA Classification: Non-Exempt
Supervisory Responsibilities:
None
Essential Functions:
Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
Review consumer loan applications and provide information on consumer loan products that best meet the member’s needs.
Communicate in a courteous, professional and informative manner with internal staff on a day to day basis. Periodically may also have to communicate with loan applicants.
Return calls and voicemails within a 24-hour business period.
Assist in taking/processing loan applications over the phone and internet.
Develop and maintain a strong/expert level knowledge of In-House lending system.
Remain up to date and knowledgeable of all Federal/State lending rules and regulations.
Evaluate credit reports, verify debts, estimate monthly payments and establish member’s creditworthiness, stability and ability to repay loan in an effort to make a strong lending decision. The evaluation process will also consist of calculating different lending ratios.
Determine collateral needs and payment plans for members applying for routine loans.
Serve as a member of the Loan Review Committee to decision complex/higher risk loans.
Notify Branch Manager and FSRs of loan decision. Correspond with Branch Manager and FSRs to resolve questions regarding initial and follow up loan application information. Explain reasons for approval, counter offer and denial. Explore and convey options for members when loans are denied.
Review regulations as they apply to installment loan security agreements.
Underwriting requires judgment to apply broader aspects of established practices to situations, which go beyond clear, concise guidelines.
Underwriters must understand and are accountable for executing all job functions in a way that is consistent with all requirements for Federal/State regulatory guidelines, BSA, OFAC and the USA Patriot Act/Customer Identification Act (CIP). Note: Failure to comply with requirements may be subject to strong disciplinary action, up to and including termination by the credit union, as well as civil and criminal penalties.
Other duties as assigned.
Competencies:
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skills and/or abilities required.
Ability to solve problems within established policies and procedures
Ability to accept and perform new job responsibilities as needed
Excellent communication skills (oral, written and listening), professional appearance and positive attitude
Basic math skills required (ability to add, subtract, multiply, and divide using whole numbers, common fractions, and decimals)
Have a thorough knowledge of Consumer Lending Compliance and Lending Regulations.
Good working knowledge of credit models and credit scoring
High school diploma or equivalent and at least two years of related work experience, preferably in a financial institution
Saturday rotation required; May also require occasional travel for training as needed
Education & Qualifications:
High school diploma or equivalent and at least two years of related work experience, preferably in a financial institution
Math Ability – Ability to calculate figures and amounts such as discounts, interest, commissions, proportions, percentages, area, circumference, and volume. Ability to apply concepts of basic algebra and geometry.
Reasoning Ability – Ability to solve practical problems and deal with a variety of concrete variables in situations where only limited standardization exists. Ability to interpret a variety of instructions furnished in written, oral, diagram, or schedule form.
Computer Skills – MS Word, Excel, Outlook, and PowerPoint.
Experience, Skills and Other Requirements:
Must possess strong basic math skills, accuracy and attention to detail
Must demonstrate an ability to understand and implement changing policies and procedures.
Exceptional oral and written communication skills required.
Must possess interpersonal skills including courtesy, tact, and diplomacy as they are essential elements of the job. Work involves much personal contact with others inside and/or outside the organization for purposes of giving or obtaining information, building relationships, or soliciting cooperation.
Certificates, Licenses and Registrations:
Must successfully complete BSA training as required
Employee must be bondable (insurable)
WORK ENVIRONMENT: Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
Primarily in-door office work with quiet to moderate noise level.
Occasional work outside the office.
Occasional travel for business-related functions.
Occasional evening and weekend schedules required.
Position Type/Expected Hours of Work:
This is a full-time position. Days and hours of work are Monday through Thursday 8:00 a.m. to 5:00 p.m., Friday 8:00 a.m. to 5:30 p.m. and occasional Saturdays from 9:00 a.m. until 1:00 p.m.
PHYSICAL DEMANDS
The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
While performing the duties of this job, the employee is regularly required to sit, stand, and walk; use hands to finger, handle, feel or grasp; reach with hands and arms; and talk or hear. The employee is frequently required to kneel, crouch, or stoop. The employee is occasionally required to lift and/or move 25-30 pounds.
Employment Requirements:
All applicants must meet the certain conditions of employment to be eligible for employment at Sunbelt Federal Credit Union:
U.S. Citizenship
Successfully passing a drug test for illegal drugs
Successfully passing a background investigation
Benefits Offered:
401K, With employee match and profit shares.
Medical, 100% paid for employee only policies, additional cost for dependents.
Dental & Vision
Company provided Life, STD, LTD, Medical
Aflac Insurance products
Paid Holidays
Employee Education Assistance Program (Tuition Reimbursement). Contract required with Terms and Conditions.
16 Days of PTO (Paid time off) that begins accruing day one. (usable after 90 days)
Employee Assistance Program (EAP)
DECLARATION
This job description is designed to cover or contain a comprehensive listing of activities, duties or responsibilities that are required of the employee for this job. Duties, responsibilities and activities may change at any time with or without notice. Sunbelt FCU is an Equal Opportunity Employer.