Loan Processor – Loan Originator Job Description
The primary role of the Loan Processor – Loan Originator is to assist Members with their lending needs. Additionally, you shall fully understand all credit union products and be able to effectively describe those products to Members. You shall be able to assist Members with deposit product needs as well. You will also assist Members in selecting the appropriate ancillary products that meet their needs and will be meet anticipated product sales objectives. Must contribute and be a team player in a fun and positive working environment.
Essential Functions & Responsibilities:
1. Interview members and potential members. Review loan applications to obtain an understanding of the member’s borrowing needs, financial condition and their credit history. Understanding the four Cs of credit is imperative.
2. Understand how to analyze consumer credit reports.
3. Perform consumer loan underwriting and processing.
4. Prepare all loan documentation and/or reviews all loan documents for completeness and accuracy.
5. Perform various loan maintenance functions such as file maintenance, paid loans and collateral perfection
6. Monitor troubled loans to ensure compliance with terms and coordinates with collections. Contact members on a regular basis, as needed.
7. Perform deposit product processing including the issuance of certificates of deposit, new accounts, accept deposit and withdrawal orders, cut checks and be required to stay in balance.
8. Participate in sales development activities, marketing and networking opportunities.
9. Comply with all procedures, policies, and regulations pertaining to all credit union products and services.
10. Stay informed of current trends in consumer credit, loan rates, and deposit rates.
11. Perform other job-related duties as assigned or necessary to provide high quality service to our Members or your teammates.
1. Provide informed, prompt, and accurate service and support to all Members.
2. Respond to messages and correspondence within 2 hours.
3. Ensure all documentation is completed with 100% accuracy.
4. Meet or exceed the assigned ancillary product cross sell goals.
5. Troubleshoot and resolve Member and internal inquiries in a timely, friendly, accurate manner.
6. Ensures all loans are properly documented and perfected/recorded in accordance with Credit Union and regulatory standards.
Knowledge, Skills and Abilities:
A minimum of four years' consumer lending or related experience. A thorough understanding of general ledger and GAAP accounting practices is desired.
Bachelor’s degree in finance, accounting, communications or training and experience equivalent.
The ability to form trusting relationships and a willingness to help others is essential. Must be able and willing to discuss issues in a courteous and professional manner. Work involves extensive personal interaction with others and information is typically of a personal or sensitive nature. You must be able to communicate effectively both orally and in written form. You should have an ability to motivate, teach and influence others in a positive fashion. Outside contacts are important and fostering positive relationships with other companies or individuals is critical to success. Establishing a rapport with the Member Service Representative (MSR) team will enhance our cross-department referral initiative that is vital to our organization growth. Positive relationships with other employees and the ability to keep things confidential helps to sustain trust among all teammates and the organization.
A deep desire to continue learning and a willingness to provide help and assistance to other departments is necessary.
Continuous Computer Work
Noise level is quiet
No unpleasant/ hazardous conditions
Required to stand, walk, or sit for long periods of time.
Repetitive motion and finger dexterity
Manual dexterity to input data on keyboard
Able to lift to 15 pounds on occasion.