Funding Services Specialist I/II/III/Sr.

Job Description

Job Description

JOB Objective  (brief statement of the core job responsibilities to be accomplished):

 

Under the direction of the Funding Services Supervisor or Funding Services Assistant Manager, this position is accountable for processing and funding loan packages through the Consumer Lending channel by performing audits and verification of employment or income, satisfying stipulations, new account and loan creation, disbursing funds, and preparing documents for imaging while providing excellent service to meet credit union standards. This position supports the credit union by complying with established policies and procedures to achieve organizational goals.

DIMENSIONS  (the depth and breadth of the job in numeric or statistical terms):

 

Incoming/Outgoing Phone Calls or Emails: 50 to 150 daily

Initial Contact on Assigned Applications: 10-15 Borrowers daily

Funding Package Processing and Auditing: 5 to 15 daily

DMV Package Processing: 15-30 weekly

New Accounts and Loan Fulfillment: Per CCCU Operating Plan or Market Volumes

Loan Protection Product Sales: Per Operating Plan

Loan Audit Quality Requirements: Minimal errors; consistently within internal audit tolerance

Report Generation and Review: 1-3 reports weekly (FSS II and above)

 

Supervisory responsibilities  (reporting structure):

 

The incumbent reports directly to the Funding Services Supervisor or Funding Services Assistant Manager. There are no direct reports to this position.

NATURE & SCOPE:  (daily, weekly, monthly, and yearly tasks, duties and responsibilities):

Funding Services Specialist I

• Handles incoming and outgoing phone calls to assist Borrowers, internal credit union staff, Dealers, and Lien Holders. In addition, clearly communicates via alternate channels such as email and web chat when appropriate.

• Performs thorough pre-funding reviews to mitigate risk. Gathers items from Borrower, Dealer, Leasing Company, or Lien Holder; reviews thoroughly to ensure all documentation is present and accurate. Satisfies Loan Officer stipulations prior to funding. In cases where items are missing or inconsistent, makes contact to obtain.

• Performs basic Proof of Income (POI) via non-tax return items such as a pay stub or direct deposit. When necessary, performs Verification of Employment (VOE) inquiries by phone, email, or fax.

• Offers credit union protection products. Ensures applicable qualifications are met, that forms and disclosures are complete, and policies are issued through appropriate vendor sites.

• Per established credit union policies and procedures, processes and funds consumer loans submitted through various delivery channels to include autos, recreational vehicles, motorcycles, personal loans, and credit cards per established credit union policies and procedures. Opens new accounts for non-members per established guidelines, when necessary.

• Prepares new account and loan documents for in-branch or electronic signatures. Ensures all documents are accurate and complete.

• Disburses loan proceeds via Cashier’s Check or deposit to internal account. Notifies Borrower via phone, email, or web chat of loan funding completion.

• Generates barcodes and prepares membership and loan documents for imaging.

• For collateralized loan fundings, accurately processes DMV documentation, ensuring that CCCU is listed as Lien Holder. Completes internal checklists and forwards to the Loan Servicing department within expected timeframe.

• Issues DYD checks to qualifying members by verifying approval information, confirming that all stipulations have been satisfied, and printing proper disclosures for branch staff.

• Performs necessary steps to ensure Bank Secrecy Act (BSA) and Anti-Money Laundering (AML) compliance to reduce risk to the credit union.

• Maintains accuracy within established expectations. Performs assigned work with minimal errors, avoiding negative impact to Dealers, Borrowers, internal staff, or CCCU’s financials and reputation.

• Meets or exceeds established service levels and organizational goals per the credit union’s Operating Plan.

• Maintains a thorough knowledge of loan documents, products, credit union services, systems, delivery channels, policies, and procedures.

• Makes recommendations for workflow efficiencies or procedure enhancements.

• Performs other relevant administrative duties as required.

Funding Services Specialist II (all of the items above, plus)

• Assists with the review and/or development of training materials and scheduled shadowing sessions for Branch or MSC staff. Participates with materials review and lending-related training courses facilitated by L&QS.

• With management’s approval, places department supply orders remaining within pre-established budget guidelines.

 

Funding Services Specialist III (all of the items above, plus)

• Funds consumer loans included in the credit union’s pilot loan programs, to include Go Green, Tech, and SafetyLine. Works with dedicated program sponsor or Contractor to ensure loan requirements are met; images all documentation.

• Performs business development activities by pro-actively contacting Branch or MSC staff by phone, email, or in person to promote collaboration on daily operations, training, or special credit union projects.

• Obtains incoming negotiated DYD checks. Reviews presented draft to ensure compliance with approved application; approves or rejects payment. Gathers required items, funds loan, and images all documentation. 

• Participate in inter-departmental cross-training activities. Observe, take notes, review provided procedures, and be able to assist in alternate job duties during high-volume or short-staffed time periods, as needed.

• Regularly sustains high volume monthly production with superior accuracy.

Senior Funding Services Specialist (all of the items above, plus)

• Generates and reviews various reports. Makes needed corrections to account or loan records based on findings, when necessary.

• Updates department procedures and/or forms when process changes, system enhancements, or efficiencies are implemented. Clearly communicates changes to department staff.

• When appointed, collaborates with LPPS department to implement lending products, promotions, or technology. Performs research and communicates results, when needed.

• Sends, reissues, corrects, and voids DocuSign envelopes.

• Reviews internal General Ledgers and assists the Accounting department with monthly balancing. Collects outstanding funds and performs correction transactions, when necessary.

• Takes ownership of difficult Borrower or Dealer requests and pro-actively resolves issues, concerns, or further delays.

• Assists with system testing or implementation support for process changes or releases in relevant lending systems such as MeridianLink, DocuSign, or Symitar.

Education, skills, & abilities  (qualifications and experience required for this position):

The Eight Superpowers – ‘Core Competencies’

1. Provides leadership through modeling of behaviors and bringing forward new ideas and new ways of doing things.
2. Demonstrates empathy, self-reflection, and adjustment of own behaviors, showing effective emotional intelligence.
3. Practices active listening in communications with others, giving someone full attention and listening to understand, not just respond.
4. Demonstrates grit, persisting in application of knowledge, skills, and behaviors to achieve goals and address obstacles.
5. Models intrinsic motivation; is self-driven to meet or exceed objectives, timelines, and quality measures while building and sustaining effective relationships.
6. Applies creative problem-solving to provide clarity, handle resources under one’s control, and address stressful situations; finds ways to meet individual, team, and member goals, by navigating through barriers. 
7. Shares a diverse set of perspectives, work and life experiences, as well as religious and cultural differences. Actively seeks out differences in values, ideas, and priorities. Respects and values the differences of others, including but not limited to: national origin, language, race, color, disability, ethnicity, gender, age, religion, sexual orientation, gender identity, socioeconomic status, veteran status, and family structures. Believes a diverse workplace is essential to the company’s success.
8. Values and shows appreciation for the unique qualities and experiences of each person-inclusion; appreciates and effectively utilizes the talents and skills of others to achieve objectives; is open to the perspective of others; and encourages collaboration, flexibility, and fairness. Makes each employee feel valued and supported for their unique qualities.

 

• Knowledge of lending terminology and documents. Knowledge of DMV processes and documents preferred.

• Must be organized and detail oriented with the ability to multi-task and work in a high-paced environment.

• Ability to use a personal computer with experience in word processing and data entry software. Also must be able to effectively operate a printer, fax, copier, scanner, and phone. 

• Ability to communicate effectively to include strong verbal, listening, and writing skills.

• Must arrive to work on time, follow directions from a Manager or Supervisor, follow policies and procedures while working independently, and embrace coaching from management when necessary. 

• Ability to demonstrate sound reasoning and judgment while performing all aspects of job duties.

• Ability to interact effectively with co-workers and resolve conflicts in a tactful manner.
• Display a positive attitude and professional appearance at all times.

Funding Services Specialist I (all of the items above, plus)

• The experience as acquired from a high school diploma or equivalent plus two (2) or more years of operational or consumer lending experience in a financial institution OR demonstrated superior performance.

• Experience with DocuSign and MeridianLink (Loans PQ) preferred.

Funding Services Speci