Indirect Lending Underwriter

Northwest Federal Credit Union; Herndon (VA); On-site; USD 81,000 - 137,000; Full time

Benefits offered by this job

Medical, dental and vision plans

4 weeks paid vacation

12 paid holidays

401(k) with employer match

Job summary

Northwest Federal Credit Union is seeking an Indirect Lending Specialist to grow relationships with automobile dealerships and manage the bank's indirect lending program. You will support branches and dealers, review loans, and ensure adherence to credit criteria and policy.

The role focuses on expanding dealer partnerships, maintaining program metrics, and providing timely reporting while upholding compliance and service standards. On-site role with comprehensive benefits.

Qualifications

• Minimum 3 years experience in Indirect Lending underwriting.
• Established and transferable dealer relationships.
• Effective oral and written communication skills.
• Ability to review and analyze data and make decisions based on lending policies.
• Ability to maintain confidentiality and work with sensitive information.

Responsibilities

• Identify and add new dealerships to the indirect lending program.
• Increase market share and community awareness.
• Provide education to branches and dealerships on NWFCU programs.
• Deliver exceptional service to members and dealers.
• Manage dealer numbers to meet program expectations.
• Assist with dealer holdbacks and charge-backs.
• Provide accurate market data and reports for a geographic area.
• Maintain relationships through communication and site visits.

Skills

Dealership relations

Communication skills

Analytical skills

Decision making

Attention to detail

Team collaboration

Education

High school diploma or equivalent

Job description

The Indirect Lending team is responsible for developing and managing relationships with automobile dealerships as part of the strategic direction to meet loan goals. This team offers/sells the Credit Union’s indirect financing and manages promotional programs, provides market competitive reports, and identifies new dealers that fit the Credit Union’s business plan. They also review loan applications against credit criteria and credit union policy to make credit decisions for approval.

Responsibilities

• Identify and add new dealerships to the Credit Union’s indirect lending program
• Increase credit union’s market share and community awareness
• Provide education and knowledge to branches and dealerships on the Credit Union’s programs
• Provide exceptional service to external and internal members while demonstrating a solid knowledge base of the Credit Union’s indirect lending program
• Managing the ongoing dealer numbers/ratios to ensure the dealer is meeting program expectations
• Assist with the identification of dealer holdbacks and charge-backs with the emphasis on the Credit Union’s best interest
• Provide accurate market competition and numbers in the designated geographical area
• Manage existing dealer relationships through consistent communication and site visits to ensure the Credit Union’s utilization and exposure
• Provide monthly reporting as outlined; which includes the key ratios/numbers to protect the Credit Union’s interests
• Maintain current knowledge on all Credit Union loan offerings, standard operating procedures (SOPs), risk-based underwriting parameters, and product-specific conditions, etc
• Remain current on consumer lending market developments, news and trends
• Assists National Director of Indirect Lending Business Development with achievement of strategic initiative
• Research and resolve problems or discrepancies
• Provide quality member/customer service promptly through various communication methods
• Stay abreast of and maintain/ensure compliance with all rules and regulations pertaining to applicable lending function, including all relevant state and federal laws and guidelines
• Analyze, evaluate, and make decisions on loans as directed by lending policies and procedures
• Remains cognizant of and adheres to NWFCU policies and procedures as well as regulations pertaining to the Bank Secrecy Act(BSA)
• Performs other related duties as assigned

Qualifications

• High school diploma or equivalent
• Minimum 3 years experience in Indirect Lending underwriting with a working knowledge of Indirect Lending workflow and processes
• Must have established and transferable dealer relationships that can immediately contribute to expanding NWFCU's book of business
• Effective oral and written communication skills
• Ability to collaborate and be an effective member of a team
• Ability to review and analyze or interpret data and documentation and to make decisions regarding subsequent actions
• Ability to maintain confidentiality
• Accuracy and detail-orientation
• Quality-focused
• Ability to interact effectively with all levels of the organization and/or with members
• Ability to analyze and comprehend complex information and be able to disseminate that knowledge in a clear way to others
• Excellent written and verbal communications skills
• Ability to maintain highest level of confidentiality regarding all sensitive, confidential, and proprietary Credit Union information
• Must have the ability to work Monday - Saturday and rotating holidays
• Must have the ability to work a variable weekend schedule

Additional Compensation

Northwest Federal offers a comprehensive and inclusive benefits program, which includes medical, dental and vision plans for you and your family, 4 weeks paid vacation, 12 paid holidays, 24 hours of paid volunteer time, parental leave, company paid disability and life insurance, and a generous 401(k) plan with up to 7% employer match.

Base compensation for this role ranges from $80,720 – $137,248 annually, depending on experience and qualifications.

EEO Notice

Northwest Federal Credit Union is an Equal Opportunity Employer and will consider all qualified applicants without regard to race, color, age, religion, sex, sexual orientation, gender identity, genetic information, national origin, disability, protected veteran status or any other classification protected by law.

NWFCU complies with federal and state disability laws and makes reasonable accommodations for applicants and employees with disabilities. If reasonable accommodation is needed to participate in the job application or interview process, to perform essential job functions, and/or to receive other benefits and privileges of employment, please contact the Human Resources Department at 703-709-8900 [e-mail].