What are the responsibilities and job description for the Consumer Loan Manager- ON SITE position at Tremont Credit Union?
Job Summary
Under the direction of the VP Lending Operations, within authorized authority, and in accordance with sound underwriting practices per TCU policy and procedure, assist in the generation of high-quality loans for TCU by evaluating and underwriting consumer loan applications originated by sales and branch staff. Act as a liaison between the Lending Department and branch and sales staff. All responsibilities are to be performed in compliance with TCU standard operating procedures, TCU policies, applicable state and Federal regulations and applicable state and federal law, as well as according to TCU's Core Values and Performance Standards.
Essential Responsibilities
Review and analyze consumer loan applications toward credit decisions. Request and review all application information and supporting documentation. Analyze credit reports, analyze and verify assets and liabilities, determine the value of any collateral, estimate monthly payments for any outstanding debts not listed and compute applicable debt-to-income or payment to income ratios to underwrite each loan application. Make a credit decision to approve or deny each loan application.
Provide information on loan products and alternative products that best meet prospective borrowers' needs.
Ask vendors such as dealerships and financial institutions for necessary information and supporting documentation
Explain reasons for denial to applicants and recommend other loan options for applicants, if appropriate.
Regularly communicate with management to ensure that issues, irregularities, application changes and other important information is properly communicated
Adhere to the TCU internal processes and Quality Control requirements of membership and loan documentation
Communicate with loan officers, branch sales staff and applicants & members to ensure the quality and completeness of loan files.
Keep informed of current underwriting practices and assist in updating the TCU's underwriting policies and procedures.
Prepare records and reports as required regarding loan file activity.
Assist the loan processing department during peak times as needed.
Train & mentor consumer loan processors - provide Branch support for onsite loan closings
Timely completion of own performance evaluation/ and review and submission of supervised employees' evaluations.
Other duties related to TCU's operations or mission as assigned.
Required Experience & Skills
- At least three years of consumer loan underwriting experience
- Ability to interpret a variety of instructions furnished in written from, including but not limited to Loan Policy and Procedural Manuals, Regulation Z, The Fair Credit Reporting Act, and UCC
- Courtesy, tact, and diplomacy. Work involves personal contact with others inside and outside the organization, giving or obtaining information which may require some discussion and persuasion
- Proficiency with Microsoft Office, or software, applications, and SaaS currently used by TCU and assigned to this position
- Can perform responsibilities accurately and timely with moderate and reasonable supervision, with minimal reminders and corrections
- Evident habits of organized workspace and materials, and detail-orientation
- Clear and effective written and oral communication
- Critical thinking to evaluate sources of information and draw conclusions