Consumer Loan Officer

Consumer Loan Officer

The Consumer Loan Officer takes member loan applications as requested and works closely with Consumer Loan Underwriters to determine the acceptability of the loan request based on the Credit Union's lending guidelines and policies. The Consumer Loan Officer demonstrates a highly motivated, positive, and influential personality with a strong emphasis on sales to ensure the Credit Union maximizes lending opportunities for members applying for credit. The Consumer Loan Officer must demonstrate the ability to think independently, by effectively responding to each individual members' unique situation. Must command a thorough knowledge of the lending process from application submission to closing to ensure maximum funding rates. Is fully knowledgeable of all Credit Union products and services and can confidently offer appropriate solutions to fit member needs. Must clearly and effectively communicate with members and staff both orally and in writing and is proficient with applicable technology.

Major Duties and Responsibilities

• The Consumer Loan Officer will submit loans to the Consumer Loan Underwriter for decisioning with a recommendation to approve, decline, or counter. Prior to submitting the loan applications to the underwriting queue, the consumer loan officer must validate the information in the application and notate the application with any information that will aid in the underwriting process of the loan request. Manages pending applications with quick and consistent follow-up times to always ensure excellent service to members.
• The Consumer Loan Officer is competent in required job skills and knowledge, exhibits the ability to learn and apply new skills; is well versed in all consumer loan regulations. Keeps abreast of current developments and requires minimal supervision. Demonstrates responsibility for providing timely and accurate responses and decisions to members. Accurately and efficiently performs member loan requests. The Consumer Loan Officer is responsible for maximizing opportunities to sell EFFCU products and services to benefit the member and enhance the quality and depth of the member relationship and profitability. Willingly accept and embraces constructive coaching and feedback as needed. Assesses own strengths and weaknesses. Demonstrates the ability to excel in a high stress environment and can meet goals and deadlines. Demonstrates persistence and overcomes obstacles to maintain above average closing ratios.
• Views situations from the member's perspective to effectively respond to their needs and concerns; often going beyond the initial need or expressed concern. Displays confidence in presenting appropriate solutions to fit members' needs. Follows up to make sure the members' expectations have been met or exceeded. Explains recommendations, products, and services in ways members can easily understand. Demonstrates patience, respect and empathy when dealing with difficult members' complaints.
• Reviews monthly loan maintenance reports. Must be a motivated self-starter who measures self against standards of excellence. Actively and consistently seek quality opportunities to increase loan volume. Demonstrates the ability to excel in a high stress environment and can meet goals and deadlines. Must comply with all company policies and procedures, applicable laws, and regulations, including but not limited to, the Equal Credit Opportunity Act, the Federal Truth-in-Lending Act, the Bank Secrecy Act, the Patriot Act, and the Office of Foreign Assets Control.

Knowledge & Skills

High school graduate or equivalent. Financial related seminars or special training desired. Two to three years' experience in lending, customer service, teller area, member service, or new accounts in a business or financial institution.

Interpersonal Skills

A significant level of trust and diplomacy is required to be an effective subject matter expert in the position. In-depth dialogues, conversations and explanations with customers, direct and indirect reports and outside vendors of a sensitive and / or highly confidential nature is a normal part of the day-to-day experience. Communications can involve motivating, influencing, educating and / or advising others on matters of significance.

Other Skills

Ability to read, analyze, and interpret general technical procedures. Ability to write instructions. Ability to respond to individual members and the general public. Ability to collect data, establish facts and draw valid conclusions. Ability to interpret an extensive variety of technical instructions in mathematical form. Ability to analyze and make decisions. Ability to calculate figures and amounts such as discounts, interest, proportions, percentages, area, circumference, and volume. Ability to apply concepts of basic algebra and geometry. Must have a general knowledge of computer system and be able to operate computer terminals for member transactions.