Consumer Loan Officer l - California, United States - Foothill Credit Union

Description

Position: Consumer Loan Officer I (CLO I)

Salary Range: $24.18 to $36.27

Description

Founded in 1958, Foothill is a not-for-profit, member-owned, $720 million-strong cooperative financial institution serving more than 30,000 members. We focus on providing quality member service to our 300+ SEGs, including six hospitals, fourteen school districts, two colleges, seventeen private schools, businesses, and municipalities in the San Gabriel Valley.

Serving our members with excellence and exceeding expectations is at the forefront of our business, and we can happily share that Foothill has been ranked a five-star financial institution by Bauer Financial. Bauer only recommends institutions with four- and five-star ratings. We are amongst the highest of our peers.

Foothill Credit Union is a community advocate and strives to partner with other businesses and organizations dedicated to community involvement. We often participate in events and fundraising efforts benefiting the schools and organizations we serve to give back to our members and community.

Awards

CUNA 2021 Member Benefits Top Performance for delivering a direct benefit of $690 per member household.

Benefits:

We offer a competitive compensation package, including benefits such as health, dental, and vision insurance, vacation time off, retirement plans, and professional development opportunities.

Health Insurance Coverage (Medical, Dental, and Vision)

401(k) Plan with dollar-for-dollar match (up to 6%)

Profit-Sharing Plan

Flexible Spending Account

Life and AD&D Insurance

Paid Time-Off Program

Educational Reimbursement Program

Paid Holidays

Special Recognition Programs

Referral Program

Foothill Credit Union is an Equal Opportunity Employer and does not discriminate against any team member or applicant for employment because of race, color, sex, age, national origin, religion, sexual orientation, gender identity, status as a veteran, and basis of disability or any other federal, state, or local protected class.

Summary: The Consumer Loan Officer I role is not just a job but a crucial part of our credit union's mission to "improve members' financial health by providing an exceptional member experience." This position embodies our core values, always representing the Credit Union in a professional, friendly, helpful, and timely manner. The Consumer Loan Officer I plays a pivotal role in making informed lending decisions, contributing to the growth and stability of our credit union. They evaluate loan applications, assess risk, and ensure our lending practices align with regulatory guidelines and internal policies. The CLO I also assesses dealership-submitted loan applications while cultivating and nurturing relationships with auto dealerships to drive business growth. Expertise in indirect auto lending practices and familiarity with platforms like Credit Union Direct Lending (CUDL) will be essential in facilitating seamless transactions between dealerships and the credit union.

Essential Duties and Responsibilities: Additional functions and requirements may be assigned by supervisors as deemed appropriate.

85% Loan Officer Duties and Responsibilities:

· The ability to handle complex loan decisions.

· Manage dispersal of Meridianlink workflow and Queues.

· Review loan applications and assess applicants' creditworthiness, analyzing financial documents, credit reports, and other relevant information.

· Evaluate each loan application's overall risk profile, considering factors such as income, debt-to-income ratio, credit history, and collateral value.

· Make informed lending decisions based on the credit union's lending policies, regulatory requirements, and risk tolerance.

· Collaborate with loan processors, branch team, and other stakeholders to gather additional information and insights for complex or borderline cases.

· Ensure compliance with federal and state lending regulations, credit union policies, and industry best practices.

· Identify potentially fraudulent activities and take appropriate actions to mitigate risk.

· Participate in ongoing training to stay updated on industry trends, regulations, and underwriting guidelines.

· Assist in developing and refining credit policies, underwriting procedures, and risk assessment models.

· Communicate effectively with internal teams to provide insights, share decisions, and contribute to the overall loan processing workflow.

15% Auto Loan Buyer Duties and Responsibilities:

· Conduct a thorough analysis of dealership-submitted loan applications, ensuring compliance with lending policies and regulatory requirements.

· Evaluate dealership-submitted applicants' financial information, credit history, and debt-to-income ratios to determine creditworthiness, incorporating insights from dealer referrals to streamline underwriting.

· Assess the risk associated with each loan application and make informed decisions on loan approvals, leveraging knowledge of indirect lending practices to mitigate risk and enhance profitability.

· Utilize expertise in indirect lending practices and CUDL to efficiently underwrite auto loans, collaborating closely with auto dealerships to expedite approvals and ensure a seamless member experience.

· Develop and maintain strong relationships with auto dealerships, liaising between dealerships and the credit union to foster mutual trust and collaboration.

· Identify opportunities to expand the credit union's auto loan portfolio by engaging with new and existing dealer partners, negotiating favorable terms, and promoting lending products and services.

· Monitor the credit union's auto loan portfolio, analyzing performance metrics and identifying growth opportunities while staying informed about market trends and competitor offerings.

· Provide exceptional customer service to members and auto dealerships, addressing inquiries, resolving issues, and ensuring a positive experience throughout the loan process.

· Update and review Quarterly Dealer Scorecards and review with department management.

Experience/Education:

· A minimum of 3 years of experience underwriting auto and consumer loans, strongly emphasizing developing and maintaining relationships with auto dealerships.

· Extensive knowledge of indirect lending practices, including familiarity with platforms like Credit Union Direct Lending (CUDL) and a proven ability to navigate complex lending processes.

· Excellent analytical skills and attention to detail, with the ability to assess credit risk and make sound lending decisions in a fast-paced environment.

· Excellent understanding of lending regulations, credit analysis, risk assessment, and underwriting methodologies.

Licenses: Must be registered as a Real Estate Loan Originator through the National Mortgage Licensing System and Registry and renew annually as required.

Other Essential Skills and Abilities:

· Must possess strong interpersonal skills, a positive attitude, good collaboration, and a desire to help people.

· Must be able to identify members' opportunities for financial improvement, communicate recommendations, and provide support.

· Must possess effective verbal and written communication skills.

· Must have reliable attendance.

· Strong communication and interpersonal skills, with the ability to effectively collaborate with internal teams, auto dealerships, and external stakeholders.

· Proficiency in using financial analysis tools, loan origination systems, and Microsoft Office applications.

· Commitment to maintaining the highest integrity, professionalism, and Member service standards in all interactions.

· Bilingual (Spanish/English) preferred.

· A valid California Class C Driver's License, a method of transportation when needed to carry out job-related essential functions, and at least minimum automobile insurance coverage as required by the State of California

Compensation details: Hourly Wage

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