Consumer Loan Processor

Job Details

Job Location:

Corporate Office - Rapid City, SD 57702

Job Category:
Banking Who We Are

We have the fundamental belief that we, as an organization, can and will improve lives. Rooted in the centuries-old credit union philosophy of people helping people, we maintain a simple premise. Those we interact with will receive equal and just treatment, devoid of intolerance, false judgment, racism, or discrimination of any kind. We must not accept less if we are to fulfill our mission, "We Improve Lives."

This mission empowers us to serve the greater good and to make a difference in our world. Our cooperative structure creates a cycle of mutual assistance towards the common goal of the financial well-being of members.

The Consumer Loan Processor is responsible for processing approved direct and indirect consumer loans from their approval through funding. This role gathers, reviews, and verifies required documentation and information to ensure loans are completed accurately, efficiently, and in compliance with credit unions policies, procedures, and regulatory requirements. Working closely with members, dealers, branch staff, underwriters, and internal departments. The Consumer Loan Processor assists in resolving outstanding stipulations and conditions, prepares and processes loan documentation, establishes loan accounts, and facilitates timely funding.

Through attention to detail, effective communication, and a commitment to quality of service, this position supports service level standards to deliver an exceptional member experience and minimizes operational and lending risk.

• Process approved consumer loan applications through funding for both direct and indirect lending channels.
• Review loan applications, contracts, and supporting documentation for completeness, accuracy, and compliance with credit union policies and procedures.
• Verify required documentation, including income, employment, identity, insurance, collateral information, membership eligibility, and other underwriting stipulations.
• Ensure all loan conditions and underwriting requirements are satisfied prior to funding.
• Coordinate loan closings and disbursement of funds within established service level standards and turnaround times.
• Process loan packets, both physical and electronic, and prepare files for funding.
• Scan, index, and electronically store all loan documentation in accordance with record retention requirements.
• Process direct consumer lending products including auto loans, recreational vehicle loans, personal loans, share-secured loans, credit cards, and other consumer lending products.
• Provide exceptional member service throughout the loan process.
• Communicate with frontline staff regarding loan documentation, funding status and outstanding requirements.
• Review dealer-submitted contracts and supporting documentation for completeness and accuracy.
• Verify collateral information, titling requirements, insurance coverage, and funding conditions.
• Maintain communication with dealerships throughout all stages of the funding process.
• Resolve documentation deficiencies, funding delays, and loan exceptions.
• Ensure timely funding of indirect loans.
• Ensure compliance with applicable federal and state consumer lending regulations and credit union policies.
• Monitor loan files for completeness, quality, and audit readiness.
• Protect confidential member information.
• Identify and elevate compliance concerns, documentation issues, exceptions, and red flags.
• Meet established productivity, accuracy, quality, and funding goals.
• Assist with workflow management and queue monitoring.
• Gather mail and drop-offs daily to distribute as needed.
• Participate in training and professional development.

• Provide loan payoff quotes to members and dealers.
• Gather and distribute incoming mail and departmental deliveries.
• Prepare new membership packets and member correspondence.
• Assist with special projects, audits, reporting, and departmental initiatives.
• Perform other duties as assigned.

• Working knowledge of consumer lending products, loan processing procedures, and credit union products and services.
• Knowledge of credit union policies, procedures, and member service standards.
• Knowledge of TILA, ECOA, FCRA, BSA, OFAC, CFPB requirements, and other applicable regulations.
• Proficiency with lending systems, document imaging systems, core processing platforms, and business software.
• Ability to review documents for completeness, accuracy, and compliance.
• Ability to prioritize multiple tasks and meet deadlines.
• Ability to maintain confidentiality and professionalism

• Vision: A sighted person to effectively review documents.
• Speech/Hearing:
  Ability to communicate verbally and in writing with staff, members and vendors.
• Manual Dexterity:
  Ability to perform necessary computer-related input.
• Physical Mobility:
  Limited mobility required. Requires the ability to work flexible hours.