What are the responsibilities and job description for the Indirect Lending Specialist position at MECU?
Job Summary:
The Indirect Lender is responsible for developing, maintaining, and expanding relationships with auto dealerships and other indirect lending partners to generate high-quality loans for the credit union. This role ensures compliance with lending policies, promotes competitive loan products, and delivers outstanding service to dealers and members.
Key Responsibilities:
- Establish and maintain relationships with auto dealerships and other indirect lending sources to promote the credit union’s loan programs.
- Analyze and evaluate indirect loan applications, ensuring they meet credit union policies, risk guidelines, and regulatory requirements.
- Negotiate loan terms and pricing with dealers while maintaining profitability and member-friendly terms.
- Monitor dealer performance, ensuring adherence to credit union standards and identifying opportunities for growth or risk mitigation.
- Ensure smooth loan processing, funding, and member service experience.
- Maintain knowledge of industry trends, competitive offerings, and regulatory changes to adjust strategies and maintain a competitive edge.
- Provide periodic reports on loan performance, dealer relationships, and portfolio quality to management.
- Ensure compliance with all federal and state regulations, including but not limited to the Truth in Lending Act (TILA), Fair Credit Reporting Act (FCRA), and Equal Credit Opportunity Act (ECOA).
- Complete all funding documentation with all stipulations.
Qualifications:
- Education: High school diploma or equivalent
- Experience: Minimum of 2 years of experience in indirect lending, automotive financing, or a related field. Credit union or banking experience is highly desirable.
- Skills & Competencies:
- Strong knowledge of loan underwriting, credit analysis, and risk assessment.
- Excellent communication, negotiation, and relationship management skills.
- Ability to work independently and travel as needed to meet with dealership partners.
- Strong problem-solving and decision-making abilities.
- Proficiency in loan origination systems and Microsoft Office Suite.
- Knowledge of applicable regulatory requirements and compliance standards.
Work Environment:
- This role requires travel to various dealership locations.
- May require occasional evening or weekend hours.
Benefits:
- Competitive salary and incentive structure
- Health, dental, and vision insurance
- 401(k) with employer match
- Paid time off and holidays
- Professional development and career growth opportunities
Job Type: Full-time
Pay: $24.00 - $30.00 per hour
Expected hours: 40 per week
Benefits:
- 401(k)
- 401(k) matching
- Dental insurance
- Employee assistance program
- Flexible spending account
- Health insurance
- Life insurance
- Paid time off
- Vision insurance
Schedule:
- Monday to Friday
- Weekends as needed
Work Location: In person
Salary : $24 - $30
