What are the responsibilities and job description for the Consumer Loan Funder (Lawrence or Bridgewater, MA) position at Merrimack Valley Credit Union?
FUNCTIONAL SUMMARY: Responsible for providing accurate, complete, and comprehensive funding of fully documented originated consumer loan applications. Primary duties consist of interacting with applicants, external contacts, and underwriters to coordinate consumer loan documentation. Prepares consumer loan closing documents and performs the post-closing review & funding through efficient communication with members and other contacts as required. Provides interim backup support for the Consumer Servicing Team administrative needs.
RESPONSIBILITIES:
1. Coordinates the funding and processing funding functions for all consumer products.
2. Processing scope includes, but is not limited to, the obtaining, data entry, verifying, and updating of data in the appropriate Loan Origination Systems (LOS) which is pertinent to: applicant membership eligibility, credit reports, employment, income, other expenses, insurances, and collateral valuations as applicable.
3. Support an ongoing monthly consumer funding ratio of at minimum 60% of overall applications.
4. Serves as the primary contact for applicants with respect to applicant needs, to update applicants on loan status, documentation, and coordinate scheduling. Assists the call center and branch staff with questions regarding consumer applications.
5. Originates and closes all consumer loan types. Uses loan origination system to prepare closing documents, clear underwriting conditions (Stipulations) for consumer funding through disbursement. Ensures that all conditions for approval are met, obtains all required documentation for disbursement of consumer loans via DocuSign or in person closings as applicable.
6. Promotes, refers, and sells additional third-party products as determined by the Credit Union.
7. Handles opening of membership account via digital channels and completes all proper documentation.
8. Maintains a working knowledge of all products and services offered by the Credit Union including but not limited to periodic promotional offerings. Demonstrates full knowledge of applicable state and federal regulations and laws.
9. Adheres to all aspects of the Credit Union Bank Secrecy Act policy and procedures.
10. Performs all sales and service activities necessary to meet corporate objectives while creating an exceptional member experience. Focused on relationship building and member experience.
11. Provides on-the-job training as may be required.
QUALIFICATIONS:
1. Minimum of high school education or equivalent required. Some college preferred.
2. Two years member service/loan experience with a financial institution required.
3. Experience with data entry, P.C.’s, delivery system automation, member/customer service, and organizational skills.
4. Knowledge of various office equipment including ten-key calculator, typewriter, copier and fax machine.
5. Detail orientated with strong organizational and written/verbal communication skills. Ability to handle multiple tasks in a high accountability team environment.
6. Must have strong initiative and sound judgment skillsets to affect a successful result of responsibilities as outlined.
