Consumer Lending Representative
About The Position
The Consumer Lending Representative works directly with credit union members to identify lending solutions that meet their needs, including auto loans, personal loans, lines of credit, and other consumer lending products. The role helps the credit union maximize lending and sales opportunities with members who apply for secured or unsecured retail loans. Depending on qualifications and hiring needs, the credit union may hire at the Consumer Lending Representative or Senior Consumer Lending Representative level; the senior-level role has base pay plus commission, while the representative role has base pay only. The representative consults with applicants about consumer lending needs, follows up on applications received through phone, internet, and branch channels, reviews applications for completeness, and follows established processing and underwriting controls. They explain lending decisions, terms, conditions, approval stipulations, and ancillary products; arrange loan closings; and present additional products and services that fit members’ needs. The role requires current knowledge of credit union products and services, lending processes, applicable regulations, and strong service, communication, relationship-building, and time-management skills. This is a full-time, hourly, non-exempt position reporting to the Consumer Loan Sales Manager. It has no direct reports. Overnight or other-location travel may be required less than 5% of the time. Reasonable accommodations may be made to enable individuals with disabilities to perform essential functions.
Requirements
- Knowledge normally gained through a high school diploma or equivalent.
- At least 1 year of experience in a sales environment.
- High level of knowledge of Microsoft Office applications, including Word, Excel, PowerPoint, and Teams.
- Ability to perform the essential duties satisfactorily; reasonable accommodations may be made for individuals with disabilities.
- Ability to operate automated office equipment such as a calculator, computer, printer, facsimile machine, telephone, and copier.
- Ability to stand, bend, and stoop as needed, and lift and/or carry 5 to 20 pounds.
- Employment offer and continued employment are contingent on acceptable background and credit check results and satisfactory proof of U.S. work authorization.
Nice To Haves
- Some college or an associate degree.
- Two years of specific consumer lending experience.
- Prior experience and working knowledge of digital credit application software.
- Prior experience and working knowledge of credit underwriting processes and philosophies.
Responsibilities
- Provide courteous, efficient, respectful, and confidential service to internal and external members in alignment with the credit union’s service promises.
- Consult with member applicants about consumer and personal lending needs of nominal to moderate complexity.
- Follow up on loan applications submitted by phone, internet, and in-branch interactions.
- Build trust and rapport with applicants and internal stakeholders who refer applicants, supporting members’ financial goals.
- Collaborate with department members and remain aware of individual and departmental objectives.
- Review applications for completeness and follow established internal controls for processing and underwriting.
- Maintain current knowledge of credit union products and services.
- Use interpersonal, communication, and product knowledge skills to understand members’ financial needs and goals and present relevant ancillary products and services.
- Explain underwriting philosophies, lending decisions, approval stipulations, loan products and services, credit reports and scores, credit histories, applicable regulations, warranty coverage, GAP, Debt Protection, rates, policies, procedures, and automated underwriting processes.
- Educate members about loan decision terms and conditions and ensure they understand any selected ancillary products.
- Set up loan closings and follow established processes, procedures, protocols, and disclosure requirements.
- Maintain positive and productive working relationships with internal and external stakeholders.
- Communicate effectively in writing and orally, manage time, prioritize work, meet deadlines and goals, and monitor and adjust work in process.
- Attend ongoing training, including workshops and webinars, on needs-based selling, lending, and compliance.
- Comply with applicable credit laws and regulations, including FCRA, MLA, ECOA, TILA, BSA/AML, and OFAC requirements.
- Travel overnight or to other business locations when needed, less than 5% of the time.
- Perform other duties as assigned.
Benefits
- Medical coverage with generous company contributions.
- Dental coverage for employee-only coverage paid by the company.
- Vision coverage for employee-only coverage paid by the company.
- Paid time off.
- 401(k) plan with a defined company match.
- Company-paid long-term disability.
- Short-term disability.
- Company-paid holidays.
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What This Job Offers
Job Type
Full-time
Education Level
High school or GED
