Consumer Loan Manager

Job Description:

Duties and Responsibilities

• Responsible for providing prompt, professional, helpful, knowledgeable, and courteous service to members and co-workers.
• Perform monthly meetings with loan & loss prevention staff.
• Develop an understanding of the credit union’s history and philosophy.
• Responsible for ensuring effective and professional communications is maintained between the credit union and its members throughout the lending process.
• Recommend process improvements in the lending and loss prevention areas.
• Assist members with the loan application process via in person, over the phone or electronically. Ensure completeness of information, process loan requests and obtain documentation relevant to the lending decision. At a minimum, this includes calculating debt to income ratios, calculating the applicant’s secured and unsecured debt and establishing values of collateral.
• Review fully documented loan requests for a lending decision within his/her lending authority as approved by the WFCU credit committee. Loan decisions will never be made on loans that he/she is processing themselves.
• Provides support for the Loss Prevention department. Including collection activities and reporting.
• Assist when needed for repossession of collateral and member bankruptcy filings.
• Execute loan transactions in accordance with approved procedures, which includes completing loan documents and disbursing loans.
• Discuss counter offers and loan denials with the VP of Lending. When a loan is denied, explain reasons for denial in a professional, courteous manner. Work with member to provide recommendations or alternative options for other possible ways to secure a loan in the future.
• Responsible for processing loan adjustments and corrections.
• Coordinates with others including vendors and system providers, credit card companies, credit bureaus, insurance companies, collateral protection agencies, etc.
• Register with NMLS as an MLO for compliance to originate home equity applications and 1^st mortgage loan requests.
• Stays current with all provisions of the Federal and State lending regulations including Regulation Z and ECOA and the Bank Secrecy Act.
• Audits lending files for accuracy and compliance for co-workers.
• Notifies VP of Lending/CEO immediately of urgent information.
• Keeps VP of Lending apprised of progress on a regular basis.
• Implement new loan products and services in accordance with management direction.
• Cross-sell lending and other credit union products when appropriate.
• Generates monthly reports as assigned.
• Provide aid, training, and/or guidance to lending and loss prevention staff.