Consumer Loan Manager

Members1St Community Credit Union•Ames, IA

20h•Onsite

About The Position

You will assist the VP of Lending in supervising the Consumer Lending operation at the Credit Union. The Consumer Loan Manager is a leadership position responsible for overseeing and managing the entire consumer lending department within a financial institution. This individual plays a crucial role in driving the department's growth, profitability, and compliance with regulations.

Requirements

Bachelors degree or equivalent professional experience.
Five years of experience in a financial institution in a customer service role.
Strong understanding of consumer loan products, underwriting processes, and credit analysis.
Demonstrated ability to promote sales growth.
Meticulous professional characteristics.
Strong written and verbal communication skills.
Qualifies as MLO and complies with registration process for NMLS listing.

Responsibilities

Supervise Lending Analysts and Lending Processors through coaching, performance reviews, and goal reviews.
Review and approve PTO requests while maintaining adequate coverage.
Oversee and implement coaching/training for Consumer Loan Officers.
Work directly with Branch Managers on setting branch lending goals and continuous development of Consumer Loan Officers.
Collaborate closely with dealer partners and vendors to maintain strong relationships and achieve mutually beneficial outcomes.
Thorough review of loan applications: This includes credit reports, income verification, employment history, collateral information, and other relevant documents.
Assessment of financial data: Analyze the borrower's income, debts, assets, and liabilities to calculate key metrics like debt-to-income ratio and credit score.
Evaluation of collateral: For secured loans, determine the market value of collateral to ensure it covers the loan amount in case of default.
Verification of information: Contact employers, banks, and other sources to verify information provided in the application.
Application of lending policies and regulations: Ensure adherence to the lender's specific lending policies and comply with all federal and state regulations.
Credit decision-making: Make informed decisions on whether to approve or deny loan applications based on the comprehensive analysis.
Loan term recommendation: Recommend appropriate loan terms like interest rates, repayment schedules, and loan-to-value ratios.
Communication with borrowers: Clarify information, request additional documentation, and explain loan decisions in a clear and concise manner.
Collaboration with other stakeholders: Work effectively with loan officers, processors, and other team members to ensure smooth loan processing.
Maintaining accurate records and documentation: Maintain complete and accurate records of loan applications, decisions, and communication throughout the process.
Monitoring loan performance: Track borrower repayment history and identify potential delinquencies early on.
Fraud prevention: Implement procedures to identify and prevent fraudulent loan applications.
Professional development: Stay up-to-date on industry trends, regulations, and best practices through ongoing training and professional development.
Contribution to team success: Actively participate in team projects and initiatives to contribute to the overall success of the underwriting department.
Working with the VP of Lending: Coach and train Lending Analysts, Lending Processors, and Consumer Loan Officers.
Inspires team to seek continuous improvement of processes and knowledge.
Recognizes and rewards excellent performance of staff members.
Recognizes, coaches, and documents for performance improvement using a teaching attitude whenever possible.
Communicates with individual team members on a regular, formal basis.
Supports and encourages autonomy, initiative, and creativity of individual team members to assure the future health of the credit union.
Generates excitement for team goals and a passion for Raving Fans service.