Lending Operations Specialist

About the Role

The Lending Operations Specialist plays a critical role in ensuring the smooth and efficient operation of lending operational processes within the organization. This position requires a high level of expertise in lending policies, systems, and procedures, as well as a deep commitment to delivering exceptional service to members, branches, and cross-functional teams.

Responsibilities

• Manage financial transactions related to the adjustment, settlement, and servicing of vehicle loans, including processing dealer refunds, calculating and applying loan payoffs, and handling the release of vehicle titles.
• Calculate Home Equity payoff amounts, generate payoff statements, process payments, and ensure accounts are closed accurately and in compliance with company policies.
• Process ACH payment reversals when errors occur or transactions need correction.
• Handle loan servicing tasks such as updates to account information, payment adjustments, rate changes, and processing loan modifications while ensuring compliance with internal policies and regulatory requirements.
• Review GAP, MBP, and Payment Protection letters for accuracy and compliance with company policies and regulatory standards.
• Ensure GAP, MBP, and Payment Protection letters are properly imaged and uploaded to the system for secure storage and easy retrieval.
• Manage the refund process for Guaranteed Asset Protection (GAP) premiums on dealer-purchased auto loans that are paid off early.
• Respond promptly and professionally to incoming phone calls from members and internal staff regarding accounts, loan products, services, policies, and procedures.
• Respond to proof of insurance emails or faxes for new loans or updated coverage, escalating complex CPI-related scenarios to the Insurance Support Specialist as needed.
• Complete additional tasks and responsibilities as delegated by management, ensuring timely and accurate execution while maintaining compliance with company policies.

Requirements

• High School Diploma or equivalent required; a bachelor’s degree in business, finance, or a related field is preferred.
• 1-2 years of experience in lending operations, loan servicing, or financial services, with a solid understanding of lending policies, systems, and procedures.
• Experience in a credit union or bank environment is highly desirable, particularly in lending operations or loan processing roles.
• Proven ability to manage multiple tasks and projects simultaneously, ensuring all lending operations are carried out in a timely, organized, and efficient manner.
• Proficiency in using loan servicing systems, databases, and standard office software (e.g., Microsoft Office Suite).

Skills

• Ability to accurately process financial transactions, calculate payoffs, review loan terms, and ensure compliance with policies.
• Skilled in identifying discrepancies in financial transactions and finding appropriate solutions, including handling ACH payment reversals and correcting errors.
• Strong written and verbal communication skills to interact professionally with both internal staff and external customers.
• Ability to prioritize tasks effectively to meet deadlines, particularly in handling various loan servicing tasks and responding to inquiries.
• Proficient in entering and updating loan data, account information, and generating documents (e.g., payoff statements) accurately.
• Skilled in scanning, imaging, and uploading documents to ensure secure and organized record keeping.
• Ability to handle inquiries professionally, ensuring members have a positive experience when addressing loan-related concerns.
• Ability to follow company policies and regulatory standards, ensuring all loan servicing activities and documentation are compliant.
• Ability to manage multiple responsibilities simultaneously, including processing payments, adjusting loan terms, and responding to member inquiries.
• Ability to analyze complex loan scenarios and accurately determine necessary steps for adjustments, settlements, and corrections.
• Ability to maintain confidentiality of sensitive member and financial information while ensuring accuracy in all processes.
• Ability to adapt to changing company policies, financial products, and regulatory requirements, staying current with best practices and procedures.