Consumer Loan Underwriter

Job Title: Consumer Loan Underwriter

Department: Consumer Lending

Reports To: Director, Consumer Lending

FLSA Status: Non-exempt

Prepared Date: December 4, 2023

Location: Onsite (350 Salem Turnpike) Remote capability for after-hours coverage

SUMMARY

The Consumer Loan Underwriter is responsible for processing and underwriting Direct and Indirect consumer loan applications and performing related administrative and clerical duties under the direction of the Director, Consumer Lending in conformance with established Credit Union policies and procedures.

ESSENTIAL DUTIES AND RESPONSIBILITIES

• Review and evaluate loan documents to ensure loan conditions meet credit union standards for consumer lending.
• Evaluate the earnings and financial condition of applicants to make decisions to approve, counter, decline, or when needed, request additional information.
• Decision loans using sound underwriting decisions in accordance with the Credit Union's guidelines to increase profitability, limit loan loss, and grow the Credit Union's indirect portfolio.
• Determine creditworthiness by reviewing credit reports, debt to income ratio, and loan to value ratio.
• Discuss credit decisions with Credit Union branches and dealers in order to offer counter proposals when applicable.
• Respond to Credit Union branches and dealerships in a prompt and efficient manner with effective communications and member service skills.
• Process incoming funding packages from dealerships.
• Correspond with dealers to obtain all necessary contracts and other required documentation to eliminate funding delays quickly and efficiently.
• Promotes other Credit Union services and products as appropriate.
• Keeps up to date on the automobile industry through the reading of trade publications of automobile values and news affecting the industry.
• Remain in compliance with the Credit Union policies, procedures, and regulations.
• Occasional weekend (Saturday’s) or after hours availability to serve dealerships outside of the normal business hours.
• Other duties as assigned.

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

EDUCATION and/or EXPERIENCE

• Bachelor's degree (B. A.) from four-year college or university, two to three years related experience and/or training; or equivalent combination of education and experience.
• Ability to read, analyze, and interpret general business periodicals, professional journals, technical procedures, or governmental regulations.
• Ability to write reports, business correspondence, and procedure manuals.
• Ability to effectively present information and respond to questions from groups of managers, clients, customers, and the general public.
• Ability to analyze Federal tax returns.
• Ability to calculate figures and amounts such as discounts, interest, commissions, proportions, percentages, area, circumference, and volume.
• Basic understanding of NCUA and other applicable operating regulations, and various changes in laws.

PHYSICAL DEMANDS

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. While performing the duties of this job, the employee is regularly required to sit; use hands to finger, handle, or feel; and talk or hear. The employee is occasionally required to stand, walk, and reach with hands and arms. The employee must occasionally lift and/or move up to 25 pounds. Specific vision abilities required by this job include close vision, distance vision, peripheral vision, depth perception, and ability to adjust focus.

WORK ENVIRONMENT

The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. The noise level in the work environment is usually moderate.