Lending Processor Direct

About the role

Process and disburse consumer loans based on stipulations that have been added to a loan decision. Answer incoming calls from members, branch member service representatives, and contact center lending advisors to assist accordingly. Proactively contact approved members in a timely manner to close loans in an effort to help the credit union attain overall loan growth goals. Review the terms of the requests and validate information needed for disbursement. Meet sales goals for ancillary products and make appropriate recommendations to help members meet their financial goals. Take complete ownership of all secured consumer loan applications assigned from branches, contact center, LSI, and web; from communicating loan decision to actual disbursement. Perform work under minimal supervision. Comply with member experience expectations and VACU policies and procedures. This position is a hybrid schedule.

Responsibilities

• Communicate loan decisions, answer questions, and guide members, branch, and contact center staff through next steps/options to get the loan closed.
• Utilize lending knowledge and cross-selling techniques to discuss additional products and services.
• Develop and maintain complete knowledge of required loan documents, systems, and credit reports; stay up to date on all procedures, policy, and system changes.
• Provide detailed loan product, procedure, and policy support to branch, resolution, and contact center staff.
• Review loan terms with members to ensure accuracy and obtain member acceptance.
• Contact dealers, lienholders, and private sellers to ensure accurate information is provided to complete the loan process.
• Ensure proper loan terms are set up and documentation is accurate prior to disbursement.
• Verify applicant income according to VACU policy and evaluate member’s income statements.
• Communicate regularly with applicants according to member contact guidelines and inform management when unable to meet expectations.
• Fund all VACU consumer loans, including vehicle, credit card, personal, share secured, workout, and personal line of credit.
• Have working knowledge of title requirements and paperwork for all states.
• Answer incoming calls from frontline staff and members; send, receive, and process inbound/outbound documentation from all sources including mail, fax, loan systems, Eltropy, and electronic mail.
• Ensure all stipulations are met prior to closing; educate and sell all ancillary products for all loans assigned to the processor team.
• Ensure that all processed loans are signed and in compliance with lending guidelines and regulations.
• Accurately utilize electronic signature methods to expedite loan disbursements and guide members to utilize electronic signatures rather than visiting a branch for loan closings.
• Act as a mentor to new hires, providing support during their on-the-job training.
• Test loan system enhancements and changes and provide feedback accordingly.
• Disburse consumer loans in accordance with VACU policy and procedures.
• Develop and maintain a working knowledge of all applicable federal and state regulations, corporate policies, and procedures; stay up to date on all required loan documents, systems, credit reports, and related lending documents.
• Comply with all published enterprise-level policies and procedures, including Risk Management policies.
• Complete all required, ongoing enterprise-level training, including BSA, OFAC, and Information Security.
• Report all Risk Management Policy violations in accordance with policy.

Expectations

• Be accountable to performance measurement goals.
• Maintain detailed knowledge of consumer loan policies, procedures, workflows, and guidelines.
• Act as a subject matter expert in consumer loan products, policies, and procedures to assist frontline staff with questions.
• Work independently and with a team interdepartmentally to support and achieve credit union initiatives.
• Manage assigned loan queue based on expected member contact guidelines.
• Contribute toward individual, team, and company goals while promoting team spirit.
• Make suggestions to improve department efficiency, documentation requirements, and service to members.
• Accommodate flexible schedules including Saturday, overtime, and extended hours.
• Adhere to work schedule to include breaks and lunch.
• Perform work under minimal supervision.
• Have a minimum of 12 months lending experience at VACU and no formal progressive discipline for the past 6 months.

Qualifications

• Education: High school degree required; college degree preferred.
• Work Experience and Knowledge: Experience in one or more of the following areas preferred: contact center, lending, and member service. Thorough knowledge of financial products and services preferred, as well as prior experience in a customer service and sales environment.
• Skills: Excellent PC knowledge and ability to learn new operating systems; strong organizational and follow-up skills; flexible to change.
• Physical Requirements: Ability to sit for long periods; infrequent lifting or carrying of objects up to 10 pounds; ability to speak clearly and see clearly with reasonable accommodation.

Pay

Salary range: $50,000 – $61,000