Consumer Loan Underwriter

G

Guardians Credit Union

Consumer Loan Underwriter

West Palm Beach, FL
Full Time
Paid
  • Responsibilities

    SUMMARY DESCRIPTION:

    The Primary Consumer Lending Underwriter is responsible for the day-to-day underwriting decisions of the consumer lending portfolio with the ability to train for a cross-over to HELOC’s and second liens. The Consumer Loan Underwriter will make decisions to approve, deny or counteroffer a loan request in accordance with Credit Union policies, procedures, state and federal governmental rules, laws, and regulations.

    Critical features of this job are described below. They may be subject to change at any time due to reasonable accommodation or other reasons.

    ESSENTIAL DUTIES AND RESPONSIBILITIES :

    Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

    • Evaluates the creditworthiness of applicants and decisions loan requests.
    • Communicate decisions both written and verbally to teams within the Credit Union.
    • Calculates debt to income ratios, evaluates credit reports and makes collateral assessments.
    • Evaluates income for all types of self-employed borrowers.
    • Maintains knowledge of internal trends, informing supervisor of any irregularities, new developments, or changes within the scope of underwriting.
    • Manages workflow to ensure back-office department goals are met.
    • Understands additional consumer products – GAP and Mechanical Breakdown Protection, MBP.
    • Works on special projects and/or audits.
    • Assists with training and/or various reminders to staff regarding lending policies/procedures.
    • Helps support the Credit Union philosophy with a sales and service culture.
    • Creates and delivers loan reports accurately and timely.
    • Participates in continued education and maintains an acceptable level of knowledge with respect to lending laws, rules and regulations.
    • Meets required Credit Union education for BSA, OFAC, and AML, or other delivered education.
    • Knows the regulatory guidelines such as BSA/OFAC/AML/CTR laws, rules and regulations and maintains an acceptable level of knowledge, including all updates and changes of laws, rules, and regulations to sufficiently apply to all account and loan underwriting activities.
    • Assists in developing and maintaining effective controls over the lending activities of the Credit Union.
    • Provides prompt, accurate and professional service to both our internal teams and members.
    • Reviews work to ensure accuracy, neatness, timeliness, and deadlines.
    • Maintains up-to-date and accurate files and records.
    • Attends meetings and training sessions as directed.
    • Develops and understands Credit Union history and philosophy.
    • Performs other related duties as assigned.

    COMPETENCIES:

    • Financial Analysis : Strong ability to assess and analyze financial statements, credit reports, and other financial data to evaluate a borrower’s creditworthiness.
    • Attention to Detail : Precision in reviewing loan applications, ensuring all information is accurate, and identifying any discrepancies or risks.
    • Risk Assessment : Ability to evaluate the level of risk associated with approving or denying a loan, based on a variety of factors such as income, credit score and debt-to-income ratios.
    • Knowledge of Regulations : Familiarity with laws and regulations related to lending, such as the Fair Credit Reporting Act (FCRA), Truth in Lending Act (TILA), and Equal Credit Opportunity Act (ECOA).
    • Decision-Making : Competency in making sound, evidence-based loan decisions within deadlines.
    • Communication Skills: Ability to clearly communicate underwriting decisions to loan officers, applicants, and other peers, and explain any conditions or requirements for loan approval.
    • Time Management: Ability to manage multiple loan applications simultaneously, prioritize tasks and meet deadlines.
    • Problem Solving: Capacity to identify and resolve issues that may arise during the loan application and underwriting process.
    • Technology Proficiency: Familiarity with underwriting software and tools, such as FiServe, UI, Loancierge, DataSafe, and ApXtender, as well as experience with general office productivity tools like Office 365 (Teams, Excel, etc.). Proficiency in using these systems for data entry, reporting, and communication is essential for efficient workflow and decision-making.
    • Organizational Skills: Competency in structuring and managing tasks, files and documents efficiently, ensuring that information is easy to access and that workflows are streamlined. Maintaining an organized approach to balancing workloads and meeting deadlines is critical for success.
    • Mathematical Skills: Ability to add, subtract, multiply, and divide in all units of measure, using whole numbers, common fractions, and decimals. Ability to compute rate, ratio, and percent and to draw and interpret bar graphs.

    SUPERVISORY RESPONSIBILITIES :

    This job has no supervisory responsibilities.

    QUALIFICATIONS/EXPERIENCE:

    High school degree or equivalent; and at least 3 years related experience and/or training; or equivalent combination of education and experience.

    PHYSICAL DEMANDS

    While performing the duties of this job, the employee is regularly required to use hands to fingers, handle, or feel objects, tools, or controls. While performing the duties of this job, the employee is required to sit and type at a computer keyboard for long periods of time. The employee is occasionally required to stand, walk, and talk or hear. The employee must occasionally lift and/or move up to 25 pounds. Specific vision abilities required by this job include close vision, distance vision, color vision, and the ability to adjust focus.