Consumer Lending Specialist

Description

Overview

The Consumer Lending Specialist plays a vital role in supporting members with their consumer loan needs, including auto loans, personal loans, credit cards, and other unsecured lending products. This position is responsible for evaluating loan applications, ensuring compliance with lending policies, and delivering exceptional member service throughout the lending process.

• Assist members in identifying appropriate consumer loan products based on their financial needs and eligibility.
• Ensure all loan documentation is complete, accurate, and compliant with internal policies and regulatory requirements. Ensure to collect and retain it. Maintain a thorough documentation of the underwriting process.
• Evaluate customer loan applications to determine credit worthiness and adherence to lending policies.
• Analyze credit reports, income documentation, and other relevant financial information, including credit analysis, income verification, and risk assessment.
• Asses the level of risk associated with each loan application. Make recommendations for loan approvals or denials based on established criteria.
• Ensure that compliance with federal, state, and local lending laws and regulations. Stay updated on changes in regulatory requirements and adjust underwriting practices accordingly. Maintain knowledge of current lending regulations, credit union policies, and industry trends.
• Communicate loan decisions clearly, timely and professionally to relevant parties. Collaborate with branch staff, members, and other stakeholders to gather additional information when necessary and to ensure smooth loan disbursement and servicing.
• Provide ongoing support and education to members regarding loan terms, repayment options, and financial wellness.
• Provide support to all staff by offering insights into underwriting decisions. Address inquiries from members regarding the underwriting process professionally and courteously.
• Meet or exceed individual and team lending goals.
• Prepare weekly/monthly report for management, credit committee and the board as needed.
• Additional duties as assigned by management.

• High school diploma or equivalent required; associate or bachelor’s degree in finance, business, or related field preferred.
• Minimum of 3 years of experience in consumer lending, banking, or financial services.
• Strong understanding of consumer lending practices, credit analysis credit reports, debt-to-income ratios, and lending regulations.
• Excellent interpersonal and communication skills.
• Detail-oriented with strong organizational and analytical abilities.
• Proficiency in loan origination systems and Microsoft Office Suite.

• Bilingual (Spanish or other languages) is a plus.
• Experience working in a credit union environment.
• Familiarity with underwriting guidelines and automated decisioning systems