Underwriter

Job Description

Job Description

POSITION PURPOSEResponsible for evaluating and analyzing loan applications to assess creditworthiness and risk. This role involves reviewing financial documents, verifying applicant information, and making informed decisions on loan approvals or denials based on established guidelines and policies. Your goal will be to provide excellent member service while meeting the company's underwriting guidelines and compliance standards. Is aligned with and promotes U1 values. The ideal candidate will possess strong analytical skills, a thorough understanding of lending regulations, and a commitment to providing excellent member service. ESSENTIAL FUNCTIONS AND BASIC DUTIESUpholds U1 ValuesTrustworthyFocuses on compliance and security by following regulations and U1 Procedures.Understands NCUA insurance and lending regulations.Follow directions.FriendlyEffective and professional relationships with members, vendor partners and all levels of employees.Supports and mentors U1 employees.ReliableMeet deadlines and respond promptly.Other projects/tasks assigned. Assists lending team as needed.Assists with training. Products/Services SupportUnderstand all products/services offered by U1.Explain all products/services to employees or current/potential members.Underwrites appropriate products/services that fit the needs of current or potential members.Makes referrals. Makes Appropriate ReferralsFollows procedures on when and how to refer members. Referrals include but are not limited to:Service Center Managers (merchant lending)Lending Team (2nd mortgage and business lending)Mortgage Team (1st mortgage)Financial Advisory Services (advisory services)Credit Solutions (30+ days past due, negative share already closed or charged off, payments for charged off accounts, hardship requests, total loss accounts, repo, bankruptcy, deceased accounts with loans) Payments (payment forms assistance, wire requests, debit card dispute requests, ACH originations or troubleshooting, ACH affidavit, credit card balance transfer and credit balance, ATM check deposits, RDC deposits, loan payment or check adjustments) LendingPerforms the following:Loan Application Review: Evaluate and underwrite loan applications for various types of loans, including consumer loans, ensuring accuracy and compliance with credit union policies and regulatory requirements.Analyze financial statements, credit reports, and other relevant documentation to determine the creditworthiness of applicants.Risk Assessment:Assess risk factors associated with loan applications, including credit history, income stability, and debt-to-income ratios.Make informed decisions on loan approvals or denials based on risk assessment and underwriting guidelines.Member Communication:Communicate with members and loan officers/employees to obtain additional information or clarification as needed.Provide clear and timely responses to member inquiries regarding loan application status and decisions.Compliance and Documentation:Ensure all loan underwriting activities comply with credit union policies, industry regulations, and legal requirements.Maintain accurate and complete documentation of underwriting decisions and related correspondence.Process Improvement:Identify opportunities for process improvements to enhance the efficiency and effectiveness of the underwriting process.Collaborate with team members and management to implement best practices and optimize underwriting procedures.Reporting and Analysis:Prepare reports and summaries on underwriting activity and loan performance as required.Monitor trends and metrics to identify potential areas of concern or opportunity. Member ServiceEffectively and professionally assists members by the following: Collect information/data.Assist with research and resolution.Secure and answer questions.Report results to members and appropriate team members and/or leadership.Utilizes all channels of communication such as in person, phone calls, emails, or other electronic tools while maintaining a positive and professional U1 image. QUALIFICATIONS Education/Certification: High School Diploma or equivalent is required.Required to attain and/or maintain NMLS certification.Associate degree in related field or equivalent experience is preferred. Experience Required:Three years of related progressive experience, preferably in a financial environment. Knowledge/Skills/Abilities:Must be able and willing to work evenings, weekends, and be on call.Understanding of the Credit Union's field of membership.Thorough knowledge of Credit Union services and products.Understanding related legal and regulatory requirements.Excellent communication and interpersonal abilities.Strong interviewing and written communications skills. Good organizational and problem-solving abilities. Strong financial math skills Ability to analyze financial documents and assess loan risk.Knowledge of Microsoft Office productsHighly organized, detail-oriented, and capable of managing multiple tasks in a fast-paced environment. WORK ENVIRONMENT/PHYSICAL ACTIVITIES Work Environment:The work environment described here is representative of those an employee encounters while performing the essential functions of this job. The noise level is usually moderate and typical of those in a typical office.