Underwriter, Indirect Auto Lending

About the role

Lafayette Federal Credit Union is seeking an Underwriter, Indirect Auto Lending to play a key role in supporting the growth and quality of our indirect lending portfolio. This position is responsible for evaluating indirect auto loan applications received through our dealer network and making sound, timely credit decisions that align with established lending policies, regulatory requirements, and the Credit Union's risk appetite.

Responsibilities

• Review and evaluate indirect auto loan applications submitted through approved dealer partners.
• Analyze credit reports, income documentation, debt obligations, collateral values, and other relevant information to assess creditworthiness.
• Evaluate applicant capacity, character, collateral, and overall risk profile.
• Approve, decline, counteroffer, or condition loan applications within established lending authority limits.
• Structure loan terms, advances, rates, and conditions in accordance with Credit Union policies and risk management guidelines.
• Verify information provided on loan applications and identify discrepancies, inconsistencies, or potential fraud indicators.
• Ensure all underwriting decisions comply with applicable federal and state regulations, including fair lending requirements.
• Document underwriting decisions accurately and thoroughly within lending systems.
• Maintain established service level standards for loan decision turnaround times.
• Serve as a resource to dealership finance managers and dealer personnel regarding loan decisions, stipulations, and program guidelines.
• Communicate underwriting requirements and loan conditions in a professional and timely manner.
• Aid in resolving dealer inquiries and exceptions within assigned authority limits.
• Support the growth and success of the indirect lending program by delivering responsive and effective service to dealer partners.
• Escalate dealer concerns, trends, and opportunities to management as appropriate.
• Monitor loan quality trends and identify emerging credit risks.
• Adhere to underwriting standards designed to maintain portfolio performance and minimize losses.
• Identify and escalate suspicious activity, fraud concerns, and policy exceptions.
• Participate in quality assurance reviews, audits, and compliance examinations.
• Recommend process improvements to enhance underwriting effectiveness and operational efficiency.
• Collaborate with funding, servicing, collections, and other lending teams to support operational effectiveness.

Requirements

• High school diploma or equivalent required.
• Associate’s or Bachelor’s degree in Business, Finance, Accounting, Economics, or a related field preferred.
• Minimum of three years of experience in consumer lending, indirect lending, underwriting, or a related financial services role required.
• Experience underwriting indirect auto loans strongly preferred.
• Credit union or banking experience preferred.

Qualifications

• Strong analytical abilities.
• Sound judgment.
• Attention to detail.
• The ability to communicate effectively with both internal and external stakeholders.

Skills

• Consumer lending experience.
• Indirect lending experience.
• Underwriting experience.
• Regulatory compliance knowledge.

Benefits

• Employer paid (99.9%) health insurance premium for single and family coverage (HMO Plan).
• Fully funded deductible (HMO Plan).
• 401k employer matching contribution.
• Income protection with life insurance, short and long-term disability.
• Paid time off, holiday leave & birthday leave.
• Education assistance.
• Commuter benefits program and more!

Pay

The salary range for this role is $61,934–$72,000 annually ($29.78–$34.62/hr).

Schedule

The job posting highlights the most critical responsibilities and requirements of the job. It is not all-inclusive. There may be additional duties, responsibilities, and qualifications for this job.