Consumer Loan Officer

Job Description

Job Description

The Consumer Loan Officer is responsible for originating loans and providing excellent customer service to Credit Union members. They will actively cross-sell additional loan products, such as warranty, gap insurance, and credit life and disability insurance, in addition to meeting loan production and ancillary product sales goals. The primary objective of the Consumer Loan Officer is to serve as an advisor to members, recommending the best loan products and services to meet their financial needs. They will play a key role in promoting financial inclusion and assisting members in improving their financial lives.

• Loan Origination: Interview loan applicants and review their financial information to assess creditworthiness. Evaluate loan applications, analyze credit reports, and determine the appropriate loan terms and conditions. Ensure compliance with lending regulations, credit union policies, and risk management guidelines. Collaborate with underwriters to finalize loan decisions and processors to facilitate loan closings. Provide timely updates and maintain open lines of communication with applicants throughout the loan process.
• Cross-Selling and Product Promotion: Identify opportunities to cross-sell additional loan products, including warranty, gap insurance, and credit life and disability insurance. Clearly explain the features, benefits, and terms of ancillary products to members. Proactively offer recommendations for ancillary products based on members' needs and loan applications. Achieve sales goals for ancillary products by effectively promoting and closing product sales.
• Member Advisory and Relationship Building: Act as a trusted advisor to credit union members, understanding their financial goals and needs. Offer personalized financial guidance to help members make informed decisions. Recommend loan products and services that align with members' financial situations and objectives. Foster long-term relationships with members through exceptional service and ongoing support. Handle member inquiries, concerns, and complaints promptly and professionally.
• Financial Inclusion and Education: Promote financial inclusion by reaching out to underserved members and providing access to credit union services. Assist members in understanding and improving their credit scores and financial profiles. Educate members on responsible borrowing practices, budgeting, and financial planning. 
• Reporting and Goal Achievement: Monitor and track loan production and ancillary product sales performance. Prepare regular reports on sales metrics, loan pipeline, and other relevant data. Work closely with management to develop strategies for achieving sales targets. Continuously update knowledge of loan products, industry trends, and changes in consumer demands.
• Compliance and Knowledge: Stay updated with industry trends, market conditions, and consumer lending laws and regulations to ensure compliance. Maintain a strong knowledge of company lending policies and guidelines to conduct consistent and accurate loan interviews. Ensure that all originating and interviewing activities adhere to company policies, procedures, and regulatory requirements.

Responsibilities listed reflect general responsibilities of this position and are not to be construed as an exhaustive list of all duties.  Other duties may be performed as needed.

Qualifications:

Experience, Education & Credentials:

• Bachelor's degree in finance, business administration, or a related field preferred but will waive in lieu of industry experience.
• A minimum of one year of proven experience in consumer lending, loan origination, or a related role.

Knowledge, Skills & Abilities:

• In-depth knowledge of loan products, underwriting guidelines, and lending regulations.

• Strong sales and cross-selling abilities, with a track record of achieving sales targets.
• Excellent communication, interpersonal, and customer service skills.
• Analytical mindset with the ability to assess creditworthiness and evaluate loan applications.
• Detail-oriented with strong organizational and time management skills.
• Ability to work independently and collaboratively in a team environment.
• Proficiency in using loan origination software and other relevant computer applications.

Competencies : 

• Negotiating – Can negotiate skillfully in tough situations with both internal and external groups; can settle differences with minimum noise; can win concessions without damaging relationships; can be both direct and forceful as well as diplomatic; gains trust quickly of other parties to the negations; has a good sense of timing. 
• Interpersonal Savvy – Relates well to all kinds of people, up, down, and sideways, inside and outside the organization; builds appropriate rapport; builds constructive and effective relationships; uses diplomacy and tact; can diffuse even high-tension situations comfortably.
• Listening – Practices attentive and active listening; has the patience to hear people out; can accurately restate the opinions of others even when they disagree.
• Customer Focus – Is dedicated to meeting the expectations and requirements of internal and external customers; gets first-hand customer information and uses it for improvements in products and services; acts with customers in mind; establishes and maintains effective relationships with customers and gains their trust and respect.
• Ethics and Values – Adheres to the appropriate (for the setting) and effective set of core values and beliefs during both good and bad times; acts in line with those values; rewards the right values and disapproves of others; practices what they preach.

• Must be able to lift up to 10 pounds.

Requires standing and/or sitting for an extended period of time.