Consumer Lending Manager

Millbury Credit Union; Millbury (MA); On-site; USD 78,000 - 83,000; Full time

Benefits offered by this job

Health, dental, vision insurance

401(k) with employer match

Annual bonus

Job summary

Millbury Credit Union in Millbury, MA is seeking a Consumer Lending Manager to oversee day-to-day lending operations and manage the loan process.

The role leads the consumer loan LOS system, approves/denies loans, coordinates funding, and ensures compliance with MCU policy. Strong leadership and lending experience are essential.

Qualifications

• High school diploma or GED; associate or bachelor’s degree preferred.
• 5-8 years experience in loan origination, indirect lending, underwriting, and production.
• Demonstrated management/leadership experience.

Responsibilities

• Approve/deny loans across branches per MCU policy.
• Review denied loans monthly for policy compliance.
• Maintain lending software, rate pages, and train staff on software usage.

Skills

Management/Leadership

Attention to detail

Communication skills

Education

High school diploma or GED

Associate or Bachelor's degree

Tools

Microsoft Excel

Microsoft Word

Job description

Regular Full-Time Professional

Salary Range: $78,000.00 To $83,000.00 Annually

Location: 50 Main St., Millbury, MA 01527 (in office position)

Work Schedule: Full Time, Monday – Friday 8:30am-5pm

If you are unable to complete this application due to a disability, contact this employer to ask for an accommodation or an alternative application process.

Position Summary

Reporting to the Sr. Vice President of Consumer Credit or assignee, the Consumer Lending Manager assists the Loan Operations and Retail Banking staff on the day-to-day lending process. The incumbent manages the consumer loan LOS system, rate sheets, reconcilement of invoices, quality control, policy / procedure, and approves or denies consumer loans according to MCU loan policy and tier levels. Is also responsible for the daily on-time funding and dealer interactions.

Responsibilities

• Approve / deny loans from all branches and origination sources. Answer questions by phone or email regarding processing, documentation, and loan closings in accordance with MCU policy and procedure.
• Review denied loans on a monthly basis ensuring compliance with lending policy and procedure.
• Perform a post-closing review of closed loans and tracks and report finding back to the Sr. Vice President of Retail Banking & Operation and the Sr. Vice President of Consumer Credit monthly; work with staff to train and rectify errors when required.
• Maintain lending software and perform, when necessary, software updates and maintain rate pages / tables. Train staff on use of software.
• Process Mass Save Heat Loans and coordinate with staff to close loans.
• Originate process and close applications when necessary.
• Comply with federal and state regulations as applicable.
• Train staff on changes to consumer loan products as well as consumer add-on products such as life and disability insurance, GAP, and Mechanical Breakdown.
• Process employee loan requests for confidentiality in conjunction with HR and auditing purposes.
• Prepare monthly reports as required.
• Reconcile consumer- and indirect-loan-related invoices as required.
• Maintain Consumer Loan policy and procedures for annual approval as required.
• Review monthly and report quarterly to manager on website accuracy for consumer lending products.
• Initiate GAP Ins. claims.
• Engage in daily approval / concurrence and funding of indirect auto loans including document review, ACH preparation, and payoff reconcilement.
• Manage the Consumer Loan Clerk Indirect Funding Specialist, including annual review process.
• Manage workflow and staffing levels to ensure coverage for indirect funding process.
• Work closely with management and third-party administrator of indirect lending program.
• Rate surveys as required.
• Be Safe Act compliant and registered on NMLS.
• Perform other duties as assigned.

Qualifications

• High school diploma or G.E.D. required; associate or bachelor’s degree or equivalent combination of education and experience in loan operations management.
• Minimum of 5-8 years of experience in loan origination, indirect lending, underwriting, and production, preferably in a banking environment.
• Demonstrated management/leadership experience
• Proficiency in Microsoft Office applications, specifically Excel and Word.
• Knowledge of various loan systems.
• Consumer lending background.
• Be Safe Act compliant and registered on NMLS

Skills and Abilities

• Ability to meet deadlines and display attention-to-detail.
• Sound verbal and written communication skills.

Benefits

• Competitive salary
• Vacation, sick and personal paid time off
• 11 paid Federal holidays
• Health, dental, vision, life, and disability insurance
• Tuition assistance
• 401(k) retirement plan with employer match
• Employer funded profit sharing
• Annual bonus to qualified employees

Equal Opportunity Employment

We are an equal opportunity employer, and all qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, disability status, protected veteran status, or any other characteristic protected by law.

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

EEO / AA Employer

The specific pay for this position will be determined by the Company based on consideration of all relevant factors when and if an offer of employment is extended.