Consumer Lending Credit Officer
3 days ago
The Consumer Lending Credit Officer plays a critical role in the credit granting process, overseeing the underwriting, decisioning, and portfolio management of consumer segments. This position partners with the Director of Consumer Credit to design products and set underwriting policy and guidelines for the line of business, ensuring consistency, fairness, and compliance with regulations.
Key Responsibilities- Ensure that each approved application meets the Credit Union's lending standards, approving loans within their pre-determined lending authority and making recommendations to the lending manager on applications outside of their authority.
- Underwrite both real estate and non-real estate consumer loan applications, striving to meet and exceed individual and team goals while maintaining the highest integrity in the decision-making process.
- Perform due diligence, verifying account information, credit worthiness, and reviewing income/employment information, determining collateral value to ensure borrowers' ability and willingness to repay.
- Provide a consultative underwriting experience with members, ensuring the review of credit identifying/restructuring opportunities and identifying cross-selling opportunities or providing direction on improving the financial outlook of members in the future.
- Keep members/staff informed of loan status throughout the process as necessary.
- Assist in monitoring the quality and performance of the existing portfolio by product and risk-grading level, continuously reviewing credit underwriting reporting for negative trends.
- Provide quality control of declined loans through second-level review.
- Partner with the AVP of Credit Administration to set appropriate product and underwriting guidelines, as well as recommend changes in the consumer credit policies to Sr. Management based on portfolio performance reviews and market and economic changes.
- Remain knowledgeable of State and Federal lending regulations, NCUA, and credit union policies and procedures, demonstrating a commitment to fair lending practices and ensuring compliance with all applicable laws and regulations concerning consumer lending.
- Assist in testing credit underwriting system updates, auditing preparations, and mentoring junior lending associates.
- Take ownership for actions, decisions, and results, openly accepting feedback and demonstrating both the willingness and ability to improve.
To be successful in this role, you will need:
- Minimum 4-6 years of experience in consumer and mortgage underwriting.
- Understanding of accounting principles, business financial statements, and tax returns.
- Demonstrated knowledge in analysis of personal tax returns, personal financial statements, and credit bureau reports.
- Experience in a centralized underwriting environment and the use of scorecards/risk-grading/risk-based pricing for credit decisioning.
- General understanding of Consumer Loan Origination Systems.
- Experience with credit procedures, policies, and regulations, including knowledge of bankruptcy and consumer laws.
- Ability to function in a Consumer business office environment and utilize standard office equipment.
- Ability to lift a minimum of 25 lbs.
- Travel required on occasion.
Prior experience in a Credit Union environment is preferred, as well as a Bachelor's degree in Finance, Accounting, Economics, Business, or a related field. Knowledge of loan structuring and work-out solutions is also desirable.
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