Consumer & Indirect Loan Officer IV

Andrews Federal Credit Union; Suitland (MD); Hybrid; USD 70,000 - 100,000; Full time

Benefits offered by this job

12 paid holidays

Healthcare plans

Career development

Retirement plan

Childcare stipend

Job summary

Andrews Federal Credit Union, headquartered in Suitland, MD, is seeking a Consumer & Indirect Loan Officer to underwrite quality consumer loans and manage both indirect dealership and direct loan processes. The role requires communicating with dealers daily and ensuring complete loan packages.

The position emphasizes adherence to laws and regulations, mentoring junior staff, and achieving daily underwriting goals within a hybrid work model.

Qualifications

• 5+ years loan underwriting experience in lending or a related field, or a college degree with 1 year of underwriting experience.
• Knowledge of Reg B, Reg Z and FCRA.
• Detail-oriented with strong math and communication skills.

Responsibilities

• Analyze loan applications, credit bureau reports, collateral, and financial documents to make sound underwriting decisions.
• Maintain productivity and meet underwriting goals and daily loan volume.
• Mentor and QC loans for lower-level Loan Officers and oversee daily operations of underwriting.
• Collaborate with dealers and members to discuss loan programs and alternatives; notify of loan decisions.

Skills

Mathematical aptitude

MS Office 365 proficiency

Excellent communication skills

Organizational skills

Education

Bachelor’s degree or related field

Tools

MS Office 365

Job description

Job Details: Job Location: Headquarters - Suitland, MD 20746, Position Type: Full Time, Are you ready for an exciting career in the financial services industry? If so, Andrews Federal is the place for you! Andrews Federal is a transformative, international financial institution, proud to serve our military and communities. Our top priority remains to help our members achieve financial wellness.

With a positive workplace culture embedded in every aspect of our DNA, our organization has been certified as a Great Place to Work for 4 consecutive years. Andrews Federal offers a highly competitive compensation and benefits package to maintain a happy and healthy workforce.

As our organization continues to thrive, we seek a highly motivated workforce that is not afraid to provide innovative solutions within the financial services industry. Our leaders encourage collaboration and new ideas as we continue to serve our global membership.

Some of the perks of working at Andrews Federal include:

• 12 paid holidays a year including your birthday
• Affordable healthcare plans and Employer Paid FSA accounts
• Career development, training opportunities, career coaching, and tuition reimbursement
• Retirement plans with a competitive matching option
• Childcare stipend to help working families

Purpose of Position

The Consumer & Indirect Loan Officer is responsible for the underwriting of quality consumer loans in compliance with applicable laws and regulations. Underwrites both indirect Dealership Loans and Direct Loans. The incumbent must effectively communicate with the dealers daily and build dealer relationships. Provides accurate and timely responses to dealers and members regarding loan decisions and gather additional documentation to ensure the loan package is complete. Generates acceptable quality loans for the credit union and its members.

Essential Duties

• Analyze loan applications, credit bureau reports, collateral evaluation, member account data, financial statements, tax returns, pay stubs and other documentation in order to make sound and consistent loan decisions on consumer loans up to the assigned limits and loan approval authority level.
• Maintain productivity and quality of service standards and expectations. Assist lending staff with loan policies and assist with complicated loan scenarios. Determine debt-to-income ration, collateral valuation, and general loan quality.
• Ensure that all loan decisions are based on an accurate and thorough understanding of each member's financial needs and conditions, and that they are made in accordance with guidance contained in the policies and procedures manual. Utilize appropriate investigative techniques and counter-offer possibilities to maximize loan opportunities.
• Discuss loan programs and alternatives with the dealers and members; notify dealers and or members of loan decisions. Serve as financial advisor and constructive financial critic to the credit union's dealers and members.
• Properly administer the creditworthiness and documentation of all loans that are originated. Coordinate the elimination of any obstacles to closing.
• Mentor and QC loans for lower-level Loan Officers, providing guidance and support as needed.
• Oversee the daily operations for the Loan Officers and loan underwriting dept. to ensure that Direct and Indirect areas are covered, monitoring staffing and loan queues daily.
• Maintain an accurate record of all decisions and actions taken.
• Must meet required goals and standard for underwriting and number of loan applications reviewed daily.
• Must be willing to to work Saturday hours as requested by the Manager.
• Recognize and pursue opportunities for cross-sales for Direct Loans.
• Collaborate with the manager to develop strategies to increase dealer participation.
• Utilize reports to target indirect dealer business activity.
• Must have great organizational skills and effective communication skills.
• Complete Andrews Federal Business Secrecy Act (BSA) training program which includes receipt of a satisfactory testing score annually.
• Perform additional duties and responsibilities as directed.

Required KSA's

• 5 plus years loan underwriting experience in a lending environment preferred, or a college degree in a related field and one year of lending or underwriting experience.
• Working knowledge of applicable laws and regulations related to lending (Reg B, Reg Z, and Fair Credit Reporting Act).
• Prior underwriting and loan approval experience is preferred.
• Strong mathematical and working knowledge of MS Office 365 suite applications.
• Must be detail-oriented and ability to operate a variety of office equipment.
• Excellent organizational, written and verbal communication skills.

Physical Requirements

• Ability to sit/stand at a desk and computer for extended periods.
• This position is hybrid. Must be able to work every other Saturday 9-5.

In accordance with the Americans with Disabilities Act, requirements may be modified to reasonably accommodate disabled individuals. However, no accommodation will be made which may pose serious health or safety risks to the employee or others or which impose undue hardships on the organization.