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Consumer Lending Credit Officer

2 months ago

Raleigh, North Carolina, United States Local Government Federal Credit Union Full time
About the Position

The Consumer Lending Credit Officer plays a critical role in the financial services industry, overseeing the credit granting process and ensuring the underwriting, decisioning, and portfolio management of consumer segments align with the organization's lending standards.

This position requires a strong understanding of accounting principles, business financial statements, and tax returns, as well as experience in consumer and mortgage underwriting. The ideal candidate will have a proven track record of analyzing personal tax returns, personal financial statements, and credit bureau reports to make informed credit decisions.

Key Responsibilities
  1. Credit Granting Process: Ensure that each approved application meets the Credit Union's lending standards, approving loans within predetermined lending authority and making recommendations to lending managers on applications outside of their authority.
  2. Underwriting and Decisioning: Underwrite both real estate and non-real estate consumer loan applications, meeting and exceeding individual and team goals while maintaining the highest integrity in the decision-making process.
  3. Due Diligence: Verify account information, credit worthiness, and review income/employment information, determining collateral value to ensure borrower's ability and willingness to repay.
  4. Consultative Underwriting: 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 the member in the future.
  5. Loan Status Updates: Keep member/staff informed of loan status throughout the process as necessary.
  6. Portfolio Monitoring: 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.
  7. Quality Control: Provide quality control of declined loans through second-level review.
  8. Policy Development: Partner with the AVP of Credit Administration to set appropriate product and underwriting guidelines, recommending changes in the consumer credit policies to Sr. Management based on portfolio performance reviews and market and economic changes.
  9. Regulatory Compliance: 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.
  10. System Updates and Audits: Assist in testing credit underwriting system updates, auditing preparations, and mentoring junior lending associates.
  11. Professional Development: Take ownership for actions, decisions, and results, openly accepting feedback and demonstrating both the willingness and ability to improve.
Requirements
  1. Minimum 4-6 years experience in consumer and mortgage underwriting.
  2. Understanding of accounting principles, business financial statements, and tax returns.
  3. Demonstrated knowledge in analysis of personal tax returns, personal financial statements, and credit bureau reports.
  4. Experience in a centralized underwriting environment and the use of scorecards/risk-grading/risk-based pricing for credit decisioning.
  5. General understanding of Consumer Loan Origination Systems.
  6. Experience with credit procedures, policies, and regulations, knowledge of bankruptcy and consumer laws.
  7. Ability to function in a Consumer business office environment and utilize standard office equipment.
  8. Ability to lift a minimum of 25 lbs.
  9. Travel required on occasion.
Preferred Qualifications
  1. Bachelor's degree in Finance, Accounting, Economics, Business, or related field.
  2. Prefer a minimum of 1 – 3 years of Credit Union consumer credit experience.
  3. Knowledge of loan structuring and work-out solutions.