What are the responsibilities and job description for the Indirect Funding Specialist I position at Credit Union West?
Credit Union West continuously looks for ways to improve employee satisfaction and experience. In addition to high paying wages, Credit Union West also offers the following:
- Full-time employees receive 100% paid health, dental & vision insurance
- Earn incentives up to 15%, depending on position
- 401K plan with employer matching funds up to 5%
- Profit Sharing
- Tuition reimbursement
- Gym membership reimbursement
- Paid time off for holidays, vacation, and sick days
- Credit Union West membership and discounts
Be part of our award-winning team!
POSITION SUMMARY
Enhances the quality of life for our members, merchants and dealers by consistently meeting or exceeding their service expectations. Provides high quality service, defined as ensuring prompt and accurate loan processing and funding disbursements. Opens new membership accounts and ensures accurate account maintenance to help support compliance. Reviews indirect loan packets and finalizes loan closing for indirect loans initiated at all approved indirect point-of-sale locations. Processes refinanced loans through our indirect portal for current vendors. Communicates with related-team members and applicants to explain credit decisions, verify and obtain additional loan information, ensure proper loan and new account documentation. Prepares cross sale referral events. Verifies and balances reports in Indirect LOS, Credit Union LOS, Core system, and other required systems.
ESSENTIAL FUNCTIONS & RESPONSIBILITIES
• Contract Processing/Funding-Prepares all necessary documents for closing of indirect loans. Accurately and promptly processes and funds indirect contracts. Accurately calculate, adjust, and disburses dealer buy downs, reserves, and acquisition fees. Coordinates loan closings with dealers and closes loans as necessary. Receives, screens and relays telephone calls and messages. Answers routine questions or directs them to the appropriate personnel. Completes loan-processing duties in accordance with established policies, procedures, and regulations. Maintain an acceptable follow up procedure for loans in the processing queues. Have knowledge of title work procedures to perfect lien status. Accurately and actively tracks funding production and loan product sales. Maintains established indirect funding volume standards. Balances end of day funding reports.
• Problem Management-Resolves (or refers) requests and problems promptly and courteously. Answers member questions pertaining to promotions, loans, balances, and payoffs. Ensures that Indirect questions are handled promptly and professionally. Ensures that members’ requests and questions are promptly acknowledged and resolved. Maintains privacy of member account information. Ensures that the Credit Union’s quality reputation is maintained and projected. Responsible for establishing and maintaining effective coordination and communication with area personnel and management. Completes assigned paperwork for Consumer Loan Manager’s and Loan Officers. Completes records and reports promptly and accurately. Supports and assist personnel as needed. Attends and participates in meetings as required. Keeps management informed of area activities and of any significant problems.
• Loan Production Cross Sales- Ensures that all members needs are identified, and the appropriate referrals or sales match the Credit Union’s services and products including, types of available accounts, special promotions, loan and deposit products, account convenience options and other related services and information. Maintains a product knowledge level that supports a needs-based referral and selling program. Actively listens to members to identify needs and cross-sell accordingly.
• Performs other duties as assigned.
QUALIFICATIONS & REQUIREMENTS
EDUCATION: A high school diploma or G.E.D.
EXPERIENCE: 1-3 years of indirect funding experience, preferably in a Credit Union or financial institution.
SKILLS & COMPETENCIES • Live the mission, vision, and core values of the credit union. • Able to communicate effectively and tactfully with employees and members both orally and in writing. • Demonstrate critical thinking and being self-reliant to better analyze and solve problems. • Effective time management and organizational skills. Ability to multi-task and be agile to serve members and employees. • Maintain working knowledge of Microsoft Office, SharePoint, and collaborative tools (Teams and Zoom). • Thorough knowledge and understanding of organization’s Employee Handbook and policies. • Must demonstrate functional knowledge of the Bank Secrecy Act in addition to other Federal laws, including but not limited to U.S. Patriot Act, Office of Foreign Assets & Control, Anti-Money Laundering, Right to Financial Privacy Act, and the Bank Bribery Act.