The Consumer Lending Specialist III - Indirect is responsible for timely and thorough analyses of loan requests to determine compliance with credit union lending policy and guidelines. Based on lending authority, this role is responsible for collecting and analyzing member and application information for the approval, counter, and denial of indirect loan applications. They evaluate the appropriate indirect products for the borrowers, while ensuring the quality of the loans are compliant with state and federal regulations and procedures. The Lending Specialist – Indirect is responsible for pro-active communication with dealers, including discussing and remediating application anomalies, confirming receipt of stipulated documentation, addressing questions or determining and proposing possible adjustments to meet credit union guidelines. The Lending Specialist - Indirect works with Dealer Relationship Managers to sell and educate the UWCU Indirect program to dealerships on the CUDL platform, and build and enhance relationships between the two organizations to provide superior service to our membership. This person is skilled in effective communication with dealers and other credit union team members. This is an advanced lending position which requires a strong knowledge of credit union guidelines and programs and is responsible for mentorship and education of Lending Specialists who are new in role.
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) Underwriting and Queue Management- 45%
a. Effectively and efficiently decisions loans within department guidelines and standards.
b. Effectively determines exceptions to guidelines and applies consistently in applicable situations. Exercises sound judgment in determining compensating factors, bases decisions on these factors and notates appropriately in applications.
c. Maintains regulatory knowledge and follows regulations and compliance requirements.
d. Exhibits awareness and reacts appropriately to loan volume levels, incoming phone calls and emails to achieve and maintain service level standards for Indirect loan decisions.
e. Prioritizes follow-up with regard to urgency of where the loan is to closing and dealer/member need.
f. Constantly monitors Second Review CUDL queues to ensure timely final approvals for funding.
g. Works collaboratively with Consumer Loan Processing to resolve questions, verify income, and deliver final approvals. Pro-actively contacts dealers once stipulations are met to complete the loan closing, and helps facilitate the resolution of incomplete contract packages in contracted deals.
h. Manages incoming calls from dealers, Dealer Relationship Managers, other departments and the ACD Group Extension. Provides education and answers to questions concerning applications, credit programs, documentation, and allowed maximums. Promotes a “one and done” attitude to provide superior service to new and existing members through our dealer partners.
i. Has a thorough understanding and follows UW Credit Union Indirect guidelines, i.e. credit based pricing matrix, Auto Flex program procedures for decisions and documentation, Boat & RV loan guidelines, and Red Flag resolution procedures. Is vigilant in reviewing applications for Synthetic ID and other common Fraud practices.
2) Dealer Relationships- 35%
a. Actively clarifies borrower, collateral, or transaction information with dealers in a pro-active manner via Web Message and telephone.
b. Actively seeks opportunities to educate dealers on the UWCU Indirect program including membership eligibility, maximum terms, credit tiers, back-end maximums, documentation requirements, placing a new application vs. amending a current application, and what loan types may or may not fit our program.
c. Leverages relationships with dealers by pro-actively following up and notifying when stipulations are met and applications can be contracted. During assigned times off queue, follows up on recent applications with dealers to determine whether UWCU will get the loan and if not, why another lender received it.
d. Actively promotes and sells UWCU Indirect program during dealer visits conducted with Dealer Relationship Managers at least once a month. Helps explain our indirect program, highlights the unique aspects that set UWCU apart, and asks for additional business.
e. Shares ideas to streamline processes for dealers such as Smart Approvals and Smart Fund as a benefit to using UWCU as a more frequent partner.
3) Team Contributions- 20%
a. Takes ownership for change. Analyzes and recommends change in operations to enhance productivity and improve service.
b. Identifies opportunities of the Indirect program and works with the Consumer Lending Operations Manager, in collaboration with the Indirect Lending Sales Manager to create effective and appropriate solutions to match the UW Credit Union lending philosophy and Core Values.
c. Effectively contributes to the success of the department through effective interdepartmental communication and education.
d. Exhibits professionalism in dress, language, and tone and demonstrates flexibility to meet the needs of the team.
e. Assumes responsibility for own development through training, collaboration and teamwork. Takes initiative to assist with organizational projects or trainings. Actively participate and take lead in team meetings and department activities.
f. Provides guidance regarding the Indirect program and guidelines, underwriting decisions, and exceptions to guidelines to other UWCU staff including, but not limited to: Consumer Loan Processors, Lending Specialists, branch or Member Solutions.
g. Educates and mentors new Indirect Lending Specialists on computer systems and programs, the credit union Indirect program and guidelines, and dealer communication expectations.
- 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.
- 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.
- Must have a valid state of Wisconsin Driver's License and clean driving record.
- Must maintain a valid license and vehicle liability insurance in the minimum amounts required by law. This information must remain current and on file with Human Resources.
- This individual must have the ability to travel and work in various locations throughout the credit union network, and work in a remote function from home as needed.
- Associates’ degree in business or a related field required, Bachelor’ degree desired.
- Minimum of 4-5 years consumer lending experience, and 2-3 years experience analyzing and/or approving consumer loan applications.
- Knowledge of fundamental lending law, concepts and practices. Ability to interpret lending policies and procedures.
- Knowledge of the principles and practices of effective consumer lending processing requirements.
- Strong proficiency in personal computer skills including the use of Internet and MS Office software 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.