Consumer Loan Underwriter
The primary role of this position is to assist Northwest Federal Credit Union to live out our vision to be the lifetime financial partner for our member-owners. One of the primary means to achieve this end is to develop a highly effective team of employees and develop each employee to their highest potential through coaching and leadership. This position is responsible for ensuring that outstanding service is delivered to both internal and external members. A key component of this service to external members is to ensure each employee identifies members’ financial needs and suggests appropriate Credit Union solutions.
This position will underwrite the consumer loans at NWFCU following all of the established lending policies and guidelines set forth by the Credit Union.
Duties and Responsibilities
- Deliver outstanding service that delivers on our Service Promises
- Meet or exceed the service goals for the position
- Knowledge of the Credit Union’s products and services
- Complete BVS classes as assigned
- Maintain department policy and procedure documentation accordingly
- Remains cognizant of and adheres to NWFCU policies and procedures, and regulations pertaining to the Bank Secrecy Act (BSA)
- Decisions applications submitted, placing emphasis on response time, quantity of applications processed, and quality of applications approved
- Evaluates credit worthiness by interpreting credit reports, and performs credit investigations when necessary
- Analyzes, evaluates and approve, deny, or counter-offer loans as directed by NWFCU Lending policy. Requires information to support the request as needed
- Must be detail-oriented, organized and knows all policies and procedures, of products and services available through the Credit Union and CUSO, and can communicate them to loan officers and branch staff using clear and correct grammar and written skills that are easily understood. Have strong computer skills and proficiency with loan industry software and terminology
- Structures approvals to enhance the Consumer Lending portfolio and maximize member relationships
- Carefully review all of the information in the application and focus on the member’s ability to repay the loan, the willingness to repay the loan, the member’s existing assets and liabilities. Analyze the credit report and identified red flags, discrepancies and determine if collateral is sufficient. Knowledge of processing and closing procedures
- Researches loans with fraud warnings, and potential fraud, using information on the credit report, and third party systems
- Flexibility to work extended hours
- Knowledge of necessary documents for all types of loans
- May be responsible for disbursing loans with proper documentation and ordering Official checks as needed
- Tests operating systems and updates to our core computer programs to detect errors and programming problems, and reports findings to management
- Knowledge of Debt Management Programs, to include Balance and Debt In Focus
- Responsible for relating and explaining Credit Union loan policies and procedures to credit union staff
- May act as a mentor to more junior loan officers
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.
Knowledge of policies and procedures, all products and services available through the Credit Union and Northwest Financial.
Full knowledge and understanding of the Staff Guidebook, membership eligibility requirements, check acceptance, and the Penley database. Basic knowledge and understanding, as it relates to the branches, of credit union policies and procedures established by Northwest Federal Credit Union (NWFCU) Board of Directors and Management to comply with applicable rules and regulations, including:
- Bank Secrecy Act and CPI provisions (including Currency Transaction Reports (Form 104) and suspicious activity reporting);
- USA PATRIOT Act (including Customer Identification Program);
- Uniform gift to minors act;
- Military Lending Act;
- Privacy regulations; and
- Lending regulations (including ECOA (Regulation B), Truth-in-Lending (Regulation Z) and Fair Credit Reporting Act (FCRA).
Regulatory and Compliance classes as assigned by Senior Manager, Loan Operations.
Education and Experience
3 – 4 years experience in financial services industry performing loan duties including underwriting.
Computer Applications: LoansPQ, Power Center (if applicable), EIC (Enterprise Interaction Client), Certegy (secure email), Fidelity (credit cards), ePort credit reporting, Nada Guides, Auto Warranty and GAP programs. Ability to use the keyboard, typewriter, calculator, fax machine and copier. Refer other credit union products and services such as Northwest Financial LLC. Reviews applications to determine that all conditions have been met prior to funding.
Language skills require the ability to interpret all requests using effective interpersonal, verbal and written communication skills.
Will need to manually calculate cash flows, debt ratios, bi-weekly and monthly loan payments.
Ability to deal with problems involving several concrete variables in standardized situations.
Decisions are made within established Credit Union guidelines. Underwriters must exercise discretion and confidentiality with regards to member/employee information. They must be able to analyze credit reports and be able to look at the big picture as to whether to approve a loan. Underwriters must be able to assist internal members with challenging situations and know when to transfer/refer member to Manager. All pertinent information and/or suggested solutions must be given to Manager to assist in decision.
The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
If selected for an interview and offered a position, your offer will be contingent upon your submitting to and successfully completing a drug test and criminal background check within a reasonable timeframe and prior to employment.