Consumer Loan Underwriter

Description:

OVERVIEW

The Consumer Loan Underwriter is responsible for evaluating and underwriting consumer loan applications, including auto loans, personal loans, credit cards, and other unsecured credit products. This role ensures that all lending decisions comply with internal policies, regulatory guidelines, and risk management standards while supporting the credit union’s mission to serve its members.

RESPONSIBILITIES

• Loan Application Review: Evaluate consumer loan applications to determine creditworthiness and adherence to lending policies. Analyze credit reports, income documentation, and other relevant financial information.
• Risk Assessment: Assess the level of risk associated with each loan application. Make recommendations for loan approvals or denials based on established criteria.
• Compliance: Ensure compliance with federal, state, and local lending laws and regulations. Stay updated on changes in regulatory requirements and adjust underwriting practices accordingly.
• Communication: Collaborate with branch staff, members, and other stakeholders to gather additional information when necessary. Communicate underwriting decisions to relevant parties in a clear and timely manner.
• Documentation: Maintain accurate and thorough documentation of the underwriting process. Ensure that all required documentation is collected and retained in accordance with regulatory guidelines.
• Customer Service: Provide support to all staff by offering insights into underwriting decisions. Address inquiries from members regarding the underwriting process professionally and courteously.
• Prepare weekly/monthly reports for management, Credit Committee, and the Board, as needed.
• Additional duties as assigned by management.

Requirements:

• Bachelor's degree in finance, business, or a related field or equivalent working experience

• 2+ years’ experience underwriting consumer loans in a credit union or banking environment.

• Strong understanding of consumer lending practices, credit analysis, and risk assessment.

• Familiarity with loan origination systems and financial software.

• Excellent analytical and problem-solving skills.

• Attention to detail and a commitment to accuracy.

• Effective communication and interpersonal skills.