Consumer Lend Processor

About the role

The Consumer Lending Processor is responsible for verifying accurate information and documentation, working with members and affiliate dealers to resolve issues and loading and processing loans to member accounts and funding loans to dealers and other third parties. Tasks are accomplished following established policies, procedures and guidelines.

Responsibilities

• Receives packets from dealers for funding via mail or electronically, updates and loads new information into loan decisioning system and redecisions as appropriate, communicating any changes or additional requirements back to the dealership finance staff.
• Reviews and verifies accuracy of all consumer loan documents submitted by member and dealer partner, including, but not limited to, finance contract, buyer’s order, title paperwork, insurance information, membership application, acceptable identification, vehicle bookout and ancillary product contracts, and maintains accurate member and loan information in the computer system.
• Sets up new membership accounts, including verifying acceptable identification, ensuring proper funding of account and verifying membership eligibility through acceptable documentation.
• Processes new consumer loans on member accounts, ensuring accurate payment and due dates, including advancing due dates as necessary based on next billing cycle.
• Evaluates collateral, verifies appropriate documents are present for processing and follows funding procedures. Disburses loan proceeds to dealers via ACH or paper check.
• Calculates and disburses reserve payments, which may be based on loan amount and/or quality and quantity of paper. Ensures membership is funded from these proceeds if additional funds are not received at time of disbursement.
• Uses the most efficient method of loan closing, including electronic documents and electronic signatures (DocuSign).
• Manages incomplete loan packages, including communicating with dealer personnel in multiple departments (sales, finance and titling) to request missing documentation, and follows up daily to ensure a quick funding turnaround time.
• Provides administrative support and an outstanding level of member service where timeliness, accuracy and follow-through are critical.
• Works with Loan Underwriting, eLending, Member Service Center, and Branch staff to provide seamless and excellent member service through all channels.
• Reviews features and benefits for products, services, and handles any objections, questions, and conducts necessary follow-up or referral to appropriate department or CUSO.
• Sells products and services through effective use of sales skills and extensive product and service knowledge.
• Participates in all levels of the sales process including identifying needs, referral, closing, and follow-up. The incumbent must meet prescribed goals in sales and referrals.
• Communicates problems and conflicts that may arise through any channel to Management and Dealer Account Executive for expedited resolution.
• Responds promptly to member and dealer loan inquiries.
• Solves product or service problems by clarifying the member’s concern; determines the cause of problem; selects and explains the best solution to solve the problem; expedites corrections or adjustment; follows up to ensure resolution.
• Uses Lender’s Protection insurance per guidelines and Indirect Lending procedures, including application, administration and certification of policies.
• Maintains accurate information related to member’s account and posts monetary transactions for loan applications, as needed to protect the assets of TFCU and its members.
• Assists in maintaining the security over negotiable instruments to protect TFCU assets.
• Participates in all required credit union compliance and product knowledge training.
• Applies knowledge gained throughout training to all relevant job duties, demonstrates thoroughness and accuracy of compliance knowledge in all verbal communications with members and through completing all required forms and documents.
• Maintains an awareness of security risks in the areas of member identification, membership eligibility and confidentiality.
• Performs related duties as assigned.

  Requirements

  • Possession of an Associate’s degree in marketing, business administration or a related field.
  • One to three years successful experience as a consumer loan processor in financial institutions, auto finance, loan underwriting, or a combination of the three required.
  • Or, an equivalent combination of education and experience.

  Qualifications

  • Ability to apply concepts of fractions, percentages, and proportions to practical situations.
  • Ability to compute rate, ratio, and percent.
  • Ability to reconcile and balance transaction records.
  • Ability to operate Microsoft Office applications (Word, Excel) and perform applications satisfactorily.
  • Ability to operate a PC in an Internet environment and to assist others with such operation.
  • Ability to operate a 10 key calculator.
  • Ability to read and interpret member tax and financial documents to support loan decisions.
  • Ability to read, analyze and interpret procedure manuals (operational or technical).
  • Ability to write routine reports, internal and external communications and procedural manuals.
  • Ability to provide explanation or instruction in one-on-one situations either in person or over the telephone, concerning operational and technical issues.
  • Ability to present ideas and concepts and respond to questions in one-on-one situations with dealerships, members, employees and external vendors in person or over the phone.
  • Ability to uncover inaccuracies in loan applications due to misrepresentation, fraud or data entry errors and to address these inaccuracies directly and tactfully with dealership staff for resolution.
  • Ability to recognize and uncover objections and roadblocks to closing loans and effectively address resolve these issues, resulting in positive relationships and increased business.
  • Ability to find solutions to approve or counter more applications for members with good credit history.
  • Ability to write effective, concise and complete correspondence to TFCU members on a daily basis.
  • Ability to define problems, collect data, establish facts and draw valid conclusions.
  • Ability to focus on detail and verify accuracy of numbers and text.
  • Ability to interpret a variety of technical instructions in written, mathematical or diagram form.
  • Ability to prioritize diverse job assignments and meet established deadlines.
  • Ability to complete tasks with a high degree of accuracy and attention to detail.
  • Ability to handle a multitude of tasks in a high stress loan environment.
  • Ability to determine needs and serve others.
  • Ability to respond to sensitive inquiries and complaints in a timely, effective manner.
  • Ability to maintain sensitive and confidential information.
  • Ability to provide constructive feedback to members concerning loan applications.
  • Ability to determine needs and sell solutions to others.
  • Ability to persuade others to consider a course of action.
  • Ability to get along with colleagues and management.

  Skills

  • Strong analytical ability, including in-depth knowledge of auto loans and the auto industry.
  • Advanced ability to calculate income and cash flow from multiple sources of proof of income.
  • Excellent internal and external member service skills.
  • Strong communication skills when working with members and dealer partners to build and maintain positive relationships and resolve conflicts.

  Benefits

  All full-time positions include exceptionally low medical premiums in addition to a whole host of other benefits.

  Pay

  Hiring Range - $25.76/hr - $32.20/hr

  Schedule

  HOURS FOR POSITION: Monday - Thursday 8:30am-5:00pm, Friday 8:30am- 6:30pm, Saturday 8:30am-1:3opm. Shifts are subject to change and rotating Saturday hours with a day off during the week.