Senior Consumer Loan Underwriter
Senior Consumer Loan Analyst, Lending Services Summary PenFed is hiring a Senior Consumer Loan Analyst, Lending Services in McLean, VA. The primary purpose of this job is to review and analyze consumer loan decisions made by loan officers and automated lending systems according to policies set forth by PenFed's Board of Directors and the Credit Department. In addition, the position will review recommendations by Collections for adjustments to delinquent loans. Essential Functions Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. This is not intended to be an all-inclusive list of job duties and the position will perform other duties as assigned. Conduct monthly loan officer reviews based upon the four risk level components: scope of authority; compliance; decision-making; and loan performance (delinquency and loss ratios). Review samples of loan decisions, provide feedback to loan officers, and determine further review is needed based on credit risk. Conduct daily reviews of pending and denied loan applications to determine if there are missed lending opportunities, or if further investigation is necessary. Assess underwriting procedures to ensure compliance with PenFed's lending policies and federal and state regulations, evaluate adequacy of procedures, make recommendations for improvement. Perform credit quality reviews of consumer loans, analyze loan underwriting, credit decision-making, booking, and monitoring activities to identify risks and evaluate the controls in place to mitigate these risks. Prepare various reports (weekly, quarterly, annually) on credit quality and trends for department management, in addition to a monthly Loan Officer/Underwriter Summary memo for management. Monitor Lending System decisions - cross sales, automated approvals, turn downs/denials, and counter offers. Provide guidance to all levels of loan officers/underwriters concerning credit risk based on identified risk-level components: scope of authority, compliance, decision-making, and loan performance. Analyze decision recommendations by collections staff for adjusting delinquent loans via due date bumps, extension agreements, due date changes and collection exception loans. Approve or deny loans within the limits set forth by PenFed's Board of Directors; serve as an alternate member of the Senior Loan Committee and is authorized to make exceptions to established PenFed guidelines. Assist in maintaining, reviewing, and updating PenFed's Policies and Procedures to ensure current loan information is available. Assist in updating and revising PenFed's loan documentation as it relates to the lending process. Education and Experience Equivalent combination of education and experience is considered. Minimum of seven (7) years' progressive experience in consumer lending with at least five (5) years of credit decision-making or loan analyst experience required; preferably in a bank or credit union environment. Prior experience with loan officer/underwriter QC auditing is a plus. Bachelor's degree in business, accounting, finance, or other related field is preferred. Advanced knowledge of lending, credit laws, and regulations; including, but not limited to: Fair Credit Reporting, Credit Card Act, Equal Credit Opportunity Act, Regulations B, C, E and Z, and Truth in Savings. Knowledge of lending compliance regulations and system definitions, and must operate within established timelines set by management. Supervisory Responsibility This position will supervise employees. Licenses and Certifications There are no additional certifications required. Work Environment While performing the duties of this job, the employee is regularly exposed to an indoor office setting with moderate noise. Travel Ability to travel to various worksites and be on-call is required. About Us Founded in 1935, and still growing, we began as the War Department Federal Credit Union. Today, PenFed is one of the country's strongest and most stable financial institutions with over 1.5 million members and over $21 billion in assets. We serve members in all 50 states and the District of Columbia, as well as on military bases in Guam, Puerto Rico and Okinawa. Our mission isn't simply to help our members get by. We exist to help them realize every ounce of their potential. We exist to educate, and to encourage. We exist to usher their dreams into the land of reality. We provide our employees with a lucrative benefits package including robust medical, dental and vision plan options, plenty of paid time off, 401k with employer match, on-site fitness facilities at our larger locations, and more. PenFed is an Equal Opportunity Employer PenFed will maintain and observe personnel policies which will prohibit discrimination or harassment against a person because of race, color, creed, age, sex, gender, religion, national origin, ancestry, genetic information, military or veteran status or obligation, the presence of a physical and/or mental disability and all other statuses protected by applicable state or local law in all recruiting, hiring, training, compensation, overtime, position classifications, work assignments, facilities, promotions, transfers, employee treatment, and in all other terms and conditions of employment. PenFed will also prohibit retaliation against individuals for raising a complaint of discrimination or harassment or participating in an investigation of same. PenFed will also reasonably accommodate qualified individuals with a disability so that they can apply for a job or perform the essential functions of a job unless doing so causes a direct threat to these individuals or others in the workplace and the threat cannot be eliminated by reasonable accommodation or if the accommodation creates an undue hardship to PenFed. Contact human resources (HR) with any questions or requests for accommodation at 703-838-1568.