Lending Processor - Direct II

Virginia Credit Union•Midlothian, VA

1d•Hybrid

About The Position

The Lending Processor is responsible for processing and disbursing consumer loans according to established stipulations. This role involves handling incoming calls, assisting members and staff, and proactively contacting approved members to close loans, contributing to the credit union's loan growth goals. The processor reviews loan terms, validates information for disbursement, and meets sales goals for ancillary products while making recommendations to help members achieve their financial objectives. They take full ownership of assigned secured consumer loan applications from various channels, ensuring accurate setup and documentation prior to disbursement. This position operates under minimal supervision and requires adherence to member experience expectations and VACU policies and procedures. The role also includes mentoring new hires and testing system enhancements.

Requirements

Minimum of 12 months lending experience at VACU.
No formal progressive discipline for the past 6 months.
Excellent PC knowledge and ability to learn new operating systems.
Strong organizational and follow-up skills.
Flexible to change.
Ability to sit for long periods of time.
Ability to speak clearly.
Ability to see clearly with reasonable accommodation.
High school degree required.
Detailed knowledge of consumer loan policies, procedures, workflows, and guidelines.
Ability to work independently and with a team interdepartmentally.
Must develop and maintain a working knowledge of all applicable federal and state regulations including corporate polices and procedures.
Stay up to date on all required loan documents, systems, credit reports and related lending documents.
Comply with all published enterprise level policies and procedures including, but not limited to, Risk Management policies.
Complete all required, ongoing enterprise level training including, but not limited to BSA, OFAC, and Information Security.
Report all Risk Management Policy violations in accordance with policy.

Nice To Haves

College degree preferred.
Experience in one or more of the following areas: contact center, lending, and member service.
Thorough knowledge of financial products and services.
Prior experience in a customer service and sales environment.
Subject matter expert in consumer loan products, policies, and procedures.
Ability to accommodate flexible schedules including Saturday, overtime and extended hours.

Responsibilities

Process and disburse consumer loans based on stipulations.
Answer incoming calls from members, branch staff, and contact center advisors.
Proactively contact approved members to close loans and achieve loan growth goals.
Review loan terms and validate information needed for disbursement.
Meet sales goals for ancillary products and make recommendations to members.
Take ownership of assigned consumer loan applications from communication of decision to disbursement.
Inform, educate, and advise members, branch, and contact center staff on loan decisions, next steps, and options.
Utilize lending knowledge and cross-selling techniques to discuss additional products and services.
Develop and maintain knowledge of required loan documents, systems, and credit reports.
Stay up-to-date on procedures, policies, and system changes.
Provide loan product, procedure, and policy support to staff.
Review loan terms with members for accuracy and obtain acceptance.
Contact dealers, lienholders, and private sellers for accurate loan process completion.
Ensure proper loan terms are set up and documentation is accurate before disbursement.
Verify applicant income according to VACU policy and evaluate income statements.
Communicate regularly with applicants and inform management of any issues.
Fund all VACU consumer loans, including vehicle, credit card, personal, share secured, workout, and personal line of credit.
Maintain working knowledge of title requirements and paperwork for all states.
Send, receive, and process inbound/outbound documentation from various sources.
Ensure all stipulations are met prior to closing.
Educate and sell all ancillary products for assigned loans.
Ensure processed loans are signed and comply with lending guidelines and regulations.
Utilize electronic signature methods to expedite loan disbursements and guide members to use them.
Act as a mentor to new hires during their on-the-job training.
Test loan system enhancements and changes, providing feedback.
Disburse consumer loans in accordance with VACU policy and procedures.
Maintain working knowledge of applicable federal and state regulations, corporate policies, and procedures.
Stay up-to-date on required loan documents, systems, credit reports, and related lending documents.
Comply with all published enterprise-level policies and procedures, including Risk Management policies.
Complete all required, ongoing enterprise-level training (BSA, OFAC, Information Security).
Report all Risk Management Policy violations.
Be accountable to performance measurement goals.
Manage assigned loan queue based on expected member contact guidelines.
Contribute towards individual, team, and company goals while promoting team spirit.
Make suggestions to improve department efficiency, documentation requirements, and member service.
Accommodate flexible schedules including Saturday, overtime, and extended hours.
Adhere to work schedule, including breaks and lunch.
Perform other duties as assigned.