Consumer Loan Processor

S&T Bank; Indiana (PA); On-site; USD 21,000 - 41,000; Full time

Job summary

S&T Bank seeks a ratings-focused Consumer Lending Operations specialist to process and verify consumer loan applications, ensuring compliance with banking regulations and internal policies. You will verify data, assess risk, and prepare required disclosures across the loan lifecycle.

Responsibilities include data integrity, document review, and collaboration with underwriting and Retail Bankers to resolve issues, while maintaining records and contributing to process improvements.

Qualifications

• Requires a high school diploma or equivalent basic education.
• Experience with consumer lending and regulatory knowledge is preferred.
• Must be capable of identifying potential fraud or misrepresentation during loan processing.

Responsibilities

• Update and verify accuracy of data input into consumer loan origination software.
• Analyze loan-to-value ratio, debt-to-income, credit report, and supporting documentation for fraud risk.
• Ensure all required documentation is attached to the loan origination software before underwriting.
• Review equity applications to ensure third-party reports are ordered and disclose packages within 3 business days.
• Review application and credit report for mismatches and fraud indicators.
• Verify and distribute reports (Title Searches, Tax Certifications, Flood Determinations, Appraisals) per loan approval.
• Maintain the Appraisal General Ledger daily.
• Assist Retail Bankers with questions about the loan process and conditions for underwriting.
• Maintain proficiency with loan origination software, MS Office, and core banking systems.
• Stay updated on banking laws and company underwriting policies; pursue relevant certifications when appropriate.
• Maintain positive relationships with coworkers, vendors, and customers; work independently and in teams.
• Perform additional duties as needed.

Skills

Consumer lending knowledge

Regulatory knowledge

Fraud detection

Data entry accuracy

Attention to detail

Education

High school diploma or equivalent

Tools

Loan origination software

Documentation software

Microsoft Word

Microsoft Excel

Microsoft Outlook

FIS core system

Imaging system

Vendor software

Internet research

Job description

Function

Responsible for the processing of consumer loans, communication with Retail Bankers and ensuring compliance of consumer loan applications in accordance with S&T Bank, regulatory and equity guidelines, and conditional loan approvals. Requires knowledge of consumer lending, applicable banking laws, federal and state regulations, policies, and lending platforms.

Duties And Responsibilities

• Update and verify accuracy of data input into consumer loan origination software.
• Analyze loan-to value ratio, debt-to-income, credit report, application and examine supporting documentation to identify potential fraud or misrepresentation.
• Ensures all required documentation required is accurate according to the consumer loan approval are attached to the Consumer Lending loan origination software prior to sending to final underwriting and satisfy any processing underwriting conditions.
• Review consumer equity applications to ensure third-party reports have been ordered according to the conditional loan approval and accurately prepare and provide initial and re-disclosure packages within the required 3 business days from application date or changed circumstance prior to final underwriting.
• Reviews application and credit report for documentation by underwriting for mismatches of social security number, date of birth, address, fraud alerts, and OFAC.
• Responsible for the review, verification, and distribution, while ensuring the accuracy and completeness of Title Searches, Tax Certifications, Flood Determinations and Appraisals in accordance with the approval of the consumer loan application by:
  • Analyzing and reviewing the reports and comparing them to each other and the approval to ensure the information coincides with each other. Distributing the reports to the Bankers once received and reviewed.
  • Working with Consumer Lending Underwriters and Retail Bankers on rectifying differences between the required reports and the loan approval conditions to ensure all are equal (i.e., judgments, tax liens, incorrect parcel numbers and/or addresses Borrower’s Legal Name, etc.).
  • Ensures all reports are Included in systemic application file for retention once accuracy has been confirmed.
  • Works with the various Vendors to have information corrected on the reports timely and corresponds with outside counsel as needed to ensure validity of supporting documents.
  • Complete the Flood Insurance Worksheet calculations to ensure the Bank obtains adequate flood insurance coverage.
• Balances and maintain the Appraisal General Ledger daily.
• Monitors departmental email address to assist Retail Bankers with questions about the consumer loan process and provides guidance on what is needed to satisfy conditions of the conditional approval to advance the loan to final underwriting.
• Daily interactions include bank personnel, attorneys, insurance agents, appraisers, abstractors, state and local regulators, other financial institutions, tax collectors and occasional contact with borrowers.
• Ensures documentation is within the application for the credit report for mismatches of social security number, date of birth, address, fraud alerts, and OFAC completion by consumer underwriting.
• Maintains logs and reports to be used by Consumer Loan Operations Management.
• Reporting all errors and findings and recommending ideas and actions to improve processes and procedures.
• Maintains proficiency in the Consumer Lending loan origination software, documentation software, Microsoft Office (Word, Excel, & Outlook), Internet searches, Core Operating System (FIS), imaging system, applicable vendor software along with the upgrades to these programs or replacement software and any other conduit available to process all orders as well as prepare required documentation.
• Acquire and maintain a thorough knowledge of all applicable banking laws / state and federal regulations and the Bank’s Corporate & Lending Policies / Underwriting Manuals to ensure compliance.
• Advances knowledge through further education and/or obtaining certifications and attending training, where appropriate, on regulatory platforms and audit issues or concerns.
• Maintains a positive and productive working relationship with all co-workers, vendors, and bank customers. And demonstrates positive interpersonal skills with the ability to work independently as well as motivated to work as a team player to contribute to the success of the department and the Bank.
• Performs additional job duties as needed.

Education

Requires a high school diploma or equivalent basic academic education.

Experience

Requires two to five years general business experience, two to five years of specialized experience in Consumer Lending, documents regulatory knowledge.

Physical Demands

This work can be performed at multiple locations. Operates a keypad device 80-90% of the day, operates electronic equipment 0-10%. Primary parts of the body involved include fingers, thumb, hand, wrist(s), elbows. Sitting 80-90%, walking 0-10% of the day. This work can be performed with reasonable accommodations.

Offered rates and salaries may vary based on geographic location, market data and on experience, education, and evidenced position specific skill requirements.

For roles that are incentive eligible, payment is based upon the plan document and company, business, and/or individual performance.

Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities

The contractor will not discharge or in any other manner discriminate against employees or applicants because they have inquired about, discussed, or disclosed their own pay or the pay of another employee or applicant. However, employees who have access to the compensation information of other employees or applicants as a part of their essential job functions cannot disclose the pay of other employees or applicants to individuals who do not otherwise have access to compensation information, unless the disclosure is (a) in response to a formal complaint or charge, (b) in furtherance of an investigation, proceeding, hearing, or action, including an investigation conducted by the employer, or (c) consistent with the contractor’s legal duty to furnish information. 41 CFR 60-1.35(c)

Salary Range

$15.00 - $30.53