Consumer Loan Officer I

Date posted:

Department:

Lending

Location:

Long Island City (HQ) - Queens, NY

Description:

Responsible for underwriting consumer loan applications, ensuring compliance with applicable Federal, State and NCUA rules, regulations and laws. This includes communication with the Consumer Lending staff and Member Service Representatives while upholding UNFCU’s commitment to exceptional member service and representing UNFCU in a positive and professional manner. This is the first level consumer loan underwriting position with lending authority for loan amounts up to $60,000 unsecured.

Accountabilities:

• Manage and maintain loan application workflow, including verification of information and timely review and approval of applications.
• Underwrite consumer loans based on established guidelines in Loan Policy. Approve loans that meet UNFCU policy guidelines, within authorized limits and established timeframes. Enter all information in related information systems.
• Make alternative recommendations for non-conforming loans. Prepare and present recommendations to Loan Panel for those loans that are exceptions to the policy.
• Participate in consumer loan panel meetings to review loan policy exceptions and denials.
• Ensure all declined loan requests are properly documented for review by the Director, Consumer Lending and Loan Review Committee.
• Coordinate the preparation and issuance of adverse action letters to applicants.
• Timely review and analysis of information resulting from staff input, verification and maintenance for all loans being processed. Assist Member Service Representatives in preparing loan documentation for all approved loans.
• Comply with updates and changes to loan programmes or procedures and updates to consumer lending software. Monitor changes to UN programmes to ensure eligibility for consumer loans.
• Maintain all correspondence and documentation through the consumer loan underwriting and decision process. File all related documentation in appropriate information systems. Address questions and resolve disputes between UNFCU and members using knowledge of consumer loan underwriting process and legal requirements.
• Address any member questions.
• Act as a resource for the Consumer Lending Department.
• Participate in credit union training programs and any other function as requested.

Qualifications:

TYPE & AMOUNT OF EXPERIENCE:
• Bachelor’s degree and 2-3 years of experience in a consumer lending/underwriting environment

TECHNICAL COMPETENCIES:
• Knowledge of consumer loan products
• Ability to read and interpret supporting documentation, loan policies, financials and credit reports
• Proficiency in Microsoft Office products and applicable lending related software and applications
• Ability to understand lending regulations (i.e. Regulations Z, B, RESPA)

BEHAVIORAL COMPETENCIES:
• Excellent communication skills, both verbal and written
• Strong attention to detail
• Professional appearance and willingness to work flexible work hours

WORK ENVIRONMENT/CONDITIONS:
• Standard office conditions

In addition to any specific job requirements in connection with Bank Secrecy Act and/or OFAC (BSA), employee must (i) be aware of BSA matters commensurate with the position; (ii) report any suspicious activity to the manager or compliance department; and (iii) satisfactorily complete any required BSA training.