Consumer Loan Processor

Black Hills Federal Credit Union · Rapid City, SD · 2 wk ago

Full-time

About Us

We have the fundamental belief that we, as an organization, can and will improve lives. Rooted in the centuries-old credit union philosophy of people helping people, we maintain a simple premise: those we interact with will receive equal and just treatment, devoid of intolerance, false judgment, racism, or discrimination of any kind. Our mission, "We Improve Lives," empowers us to serve the greater good and make a difference in our world. Our cooperative structure creates a cycle of mutual assistance toward the common goal of financial well-being for our members.

At Black Hills Federal Credit Union (BHFCU), we’re committed to improving the lives of our members every day and look for people who share that passion. Don’t have extensive financial industry experience? No problem. Our onboarding includes an orientation program with ongoing training to help staff build on their existing strengths and further their careers at BHFCU.

About the Role

The Consumer Loan Processor is responsible for processing approved direct and indirect consumer loans from approval through funding. This role gathers, reviews, and verifies required documentation and information to ensure loans are completed accurately, efficiently, and in compliance with credit union policies, procedures, and regulatory requirements. Working closely with members, dealers, branch staff, underwriters, and internal departments, the Consumer Loan Processor assists in resolving outstanding stipulations, prepares and processes loan documentation, establishes loan accounts, and facilitates timely funding.

Through attention to detail, effective communication, and a commitment to quality service, this position supports service-level standards to deliver an exceptional member experience and minimizes operational and lending risk.

Responsibilities

Process approved consumer loan applications through funding for both direct and indirect lending channels.
Review loan applications, contracts, and supporting documentation for completeness, accuracy, and compliance with credit union policies and procedures.
Verify required documentation, including income, employment, identity, insurance, collateral information, membership eligibility, and other underwriting stipulations.
Ensure all loan conditions and underwriting requirements are satisfied prior to funding.
Coordinate loan closings and disbursement of funds within established service-level standards and turnaround times.
Process loan packets, both physical and electronic, and prepare files for funding.
Scan, index, and electronically store all loan documentation in accordance with record retention requirements.
Process direct consumer lending products including auto loans, recreational vehicle loans, personal loans, share-secured loans, credit cards, and other consumer lending products.
Provide exceptional member service throughout the loan process.
Communicate with frontline staff regarding loan documentation, funding status, and outstanding requirements.
Review dealer-submitted contracts and supporting documentation for completeness and accuracy.
Verify collateral information, titling requirements, insurance coverage, and funding conditions.
Maintain communication with dealerships throughout all stages of the funding process.
Resolve documentation deficiencies, funding delays, and loan exceptions to ensure timely funding of indirect loans.
Ensure compliance with applicable federal and state consumer lending regulations and credit union policies.
Monitor loan files for completeness, quality, and audit readiness.
Protect confidential member information and identify/escalate compliance concerns, documentation issues, exceptions, and red flags.
Meet established productivity, accuracy, quality, and funding goals; assist with workflow management and queue monitoring.
Gather mail and drop-offs daily to distribute as needed.
Participate in training and professional development.
Provide loan payoff quotes to members and dealers.
Gather and distribute incoming mail and departmental deliveries.
Prepare new membership packets and member correspondence.
Assist with special projects, audits, reporting, and departmental initiatives.
Perform other duties as assigned.

Requirements

Working knowledge of consumer lending products, loan processing procedures, and credit union products and services.
Knowledge of credit union policies, procedures, and member service standards.
Knowledge of TILA, ECOA, FCRA, BSA, OFAC, CFPB requirements, and other applicable regulations.
Proficiency with lending systems, document imaging systems, core processing platforms, and business software.
Ability to review documents for completeness, accuracy, and compliance.
Ability to prioritize multiple tasks and meet deadlines.
Ability to maintain confidentiality and professionalism.
High school diploma or equivalent proficiency in language, mathematical, and reasoning skills.
One to two years of experience in a related field with similar responsibilities is preferred; equivalent combinations of education and experience may be considered.

Skills & Abilities

Ability to understand and follow complex written and oral instructions.
Ability to comprehend complex functions and procedures and disseminate that knowledge clearly and understandably to others.
Ability to express oneself clearly and concisely, both orally and in writing.
Ability to prepare and maintain confidential records and reports.
Ability to gather, assemble, correlate, and analyze facts and develop solutions.
Ability to analyze statistics and financial data.
Ability to assess the needs of multiple members and prioritize requests to ensure high-quality service.
Ability to handle daily routines with moderate freedom to interpret and act upon various situations.
Ability to present a professional and personable personality that communicates effectively with members.
Ability to interact with multiple departments daily.
Ability to work within precise standardized guidelines with some latitude to make decisions and take initiative to resolve problems or unique circumstances.

Working Conditions

Perform primarily sedentary work with limited physical exertion and occasional lifting of up to 5 lbs.
Must be capable of climbing/descending stairs in emergency situations.
Must be able to operate routine office equipment including telephone, copier, facsimile, and calculator.
Must be able to routinely perform work on a computer for an average of 6-8 hours per day.
Must be able to work extended hours when required or requested by management.
Must be capable of regular, reliable, and timely attendance.
Occasional travel to one of BHFCU’s branch locations or attendance at community events may be required.
Work is performed indoors in a climate-controlled shared work area with moderate noise.
Must be able to perform job functions with supervision and work effectively either on own or as part of a team.
Must be able to read and carry out various instructions and follow oral instructions.
Must be able to speak clearly and deliver information in a logical and understandable sequence.
Must be able to perform basic mathematical calculations with extreme accuracy.
Must be capable of dealing calmly and professionally with diverse personalities at various levels within and outside the organization, demonstrating high levels of customer service and discretion.
Must be able to perform responsibilities with composure under the stress of deadlines, extreme accuracy, and fast pace.
Must be capable of effectively handling multiple, simultaneous, and changing priorities.
Must be capable of exercising the highest level of discretion on confidential matters.