The Consumer Lending Specialist III is responsible for timely and thorough analysis of loan applications by effectively evaluating underwriting components including 5 C’s of credit (credit, capacity, capital, character and collateral) and identifying potential compensating risk factors. The LS III has a demonstrated expert knowledge of state/federal regulations, credit union guidelines, policies and procedures, and ensures the quality of every loan application. This position provides the full range of loan products and services to our members with emphasis of expanding and enriching member relationships by utilizing UWCU “Members for Life” philosophy. The LS III is responsible for conducting credit consultations, identifying members’ best financial loan solutions, cross selling from identified opportunities and referring members for non-lending products. The Lending Specialist III is an advanced position that requires the ability to work independently and provide mentorship to peers.
This position must effectively carry out the essential duties of this position in a manner that consistently demonstrates the core values of the organization in a positive manner.
1) Responsible for Individual Sales Results - 30%
a. Consistently use needs based consultative-style interactions to identify and recommend additional products that will enhance and protect member loans and credit.
b. Maintain expert knowledge in all consumer loan programs and processes, ensuring quality service and accuracy is delivered to UWCU members.
c. Responsible for scorecard goals including: loan volumes, booking efficiency, loan delinquency and overall loan portfolio performance.
d. Actively ask open- end member focused questions to identify opportunities for lending and deposit products and services.
e. Consistently demonstrate sales behaviors and activities that contribute to departmental goals to obtain referrals.
2) Underwriting and Queue Management - 30%
a. Maintain deep knowledge of current Federal/State lending regulations. Interpret and apply lending regulations and internal lending guidelines when reviewing and making decisions on loan applications.
b. Understand key elements of member loan programs. Review applications for potential risk; make recommendations for exceptions to underwriting guidelines when appropriate.
c. Provide mentorship to loan originators regarding credit union lending guidelines, information needed for a complete loan application, and appropriate loan comments to aide in the loan decision process and to ensure appropriate loan recommendations to members.
d. Vigilant awareness responding to loan volumes, service levels and channels while maintaining department service standards.
e. Complete loan closings in a timely fashion based on membership preferred delivery channel and timing.
f. Expert skills to perform a thorough review of complex tax returns, (including self employed tax returns) paystub verification including bonus/commission income and potential unidentified obligations (401K loans, alimony or child support).
g. Primary focus on underwriting and review of Online, Phone and In-Branch applications. Assist with underwriting and dealer communication when needed.
h. Underwrite loans based on loan authority.
3) Team Contributions - 20%
a. Identify, develop and facilitate enhancements to underwriting and production procedures. Recommend and implement solutions to increase efficiency and member experience.
b. Serve as a mentor and positive role model for Lending Specialists I and II.
c. Assume responsibility for own development through training, collaboration and teamwork.
d. Take initiative to assist with organizational projects or trainings.
e. Actively participate and contribute ideas to team meetings and department activities.
f. Act as part of a cohesive team, demonstrating excellent interpersonal skills and the ability interact positively with co-workers.
4) Member Service - 20%
a. Provide superior member service to UWCU members by effectively analyzing situations, asking the right questions and making recommendations to enhance the member’s financial position.
b. Consistently educate members about their loan product choices. Analyzes member needs, and make consistent recommendations on loan products and services.
c. Maintain a high degree of knowledge in all credit union programs, ensuring quality service and accuracy is delivered to UWCU members and employees
d. Demonstrate sound judgment in handling member requests and approving exceptions. Ensure loan applications are accurate, complete and appropriate for the member requesting credit.
e. Consistently document member interactions, appropriate Decision comments and exceptions in loan software.
To perform this job successfully, an individual must demonstrate regular, predictable attendance and be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. The individual must be able to successfully pass background checks. The individual must obtain and maintain a Limited Credit Lines License (WI Credit test #29). The individual must be, or become, federally registered, and maintain an active federal registration with the National Mortgage Licensing System (NMLS) and Registry.
Must complete annual training and compliance in accordance with all UW Credit Union Fair Lending Policies and Guidelines including, but not limited to, the Equal Credit Opportunity Act, The Fair Housing Act, and the Home Mortgage Disclosure Act.
- Associates degree in business or a related filed required, Bachelors degree preferred
- Minimum of 4-5 years consumer lending experience, and 2-3 years experience analyzing and underwriting consumer loan applications.
- Demonstrated analytical, accuracy, critical thinking, and problem-solving skills.
- Strong presentation, telephone, oral and written communication skills.
- Proficiency and agility to multi-task and negotiate multiple applications in succession
- Strong interpersonal skills and demonstrated ability to represent a professional image.
- Knowledge of fundamental lending law, concepts and practices.
- Ability to interpret and educate to lending regulations/policies and procedures.
- Knowledge of the principles and practices of effective consumer lending processing requirements.