Loan Processor

ALERO FINANCIAL CREDIT UNION; Elgin (IL); On-site; USD 42,000 - 64,000; Full time

Job summary

ALERO FINANCIAL CREDIT UNION is seeking a detail-oriented loan processor to work with lending staff and members to process loan applications efficiently. You will prepare documentation, book loans upon approval, and ensure compliance with policies and regulations.

Responsibilities include maintaining loan and member records, following up on documentation, supporting title work, and delivering responsive member service while upholding the credit union's standards and regulatory requirements.

Qualifications

• Minimum high school diploma or equivalent and one year experience in an office or customer service.
• Effective communication and interpersonal skills required.
• Ability to multi-task and maintain accuracy under pressure.

Responsibilities

• Process loan applications and book loans upon approval.
• Prepare and complete loan documentation and maintain records.
• Follow up on all loan documentation to department standards.
• Collaborate with lending staff to reduce turnaround times.
• Ensure compliance with federal/state regulations and credit union policies.
• Assist with title follow-up and scanning as needed.
• Provide member service and handle inquiries about loans.
• Maintain service levels within the department.

Skills

Customer service

Interpersonal skills

Communication

Attention to detail

Multi-tasking

Education

High school diploma or equivalent

Job description

Responsible for working with lending staff and members to process loan applications in a timely and efficient manner. Responsible for complete follow-up on loan requests, including all system requirements and documentation completion. Act as a vital link between members and Alero lending staff by processing new loans and subsequent loan requests professionally and efficiently. Duties must be accomplished in compliance with federal and state laws and in accordance with the credit union's policies and procedures and with constant attention to Alero's creed, vision, mission and goals.

Duties and Responsibilities

Process loan applications.

• Prepare and complete loan documentation and loan booking upon approval by a certified loan officer.
• Maintain and follow up on all loan documentation within department standards.
• Complete maintenance of the new loan setup, new membership and account setup, payroll creation and follow-up.
• Work closely with all lending staff to maximize average turnaround time on all loans.
• Meet with the Lending Manager/Lending Supervisor(s) on a regular basis for title follow-up and additional needs.
• Submit and maintain standards required on all completed loans to be audited for compliance.
• Recognize the need to ask for assistance from the Lending Manager/Lending Supervisor(s) when needed.
• Assist the Loan Technician with title follow up and scanning.
• Maintain acceptable service levels in the department.

Provide member service.

• Assist with member telephone inquiries relating to their loan or general questions regarding the credit union.
• Sell credit union products and services related to loan products (e.g., debt cancellation, MRC and GAP)
• Resolve member problems by obtaining information and researching records until the matter is resolved.

All other duties as assigned.

Qualifications:

Education & Experience

• Minimum high school diploma or its equivalency and one-year experience in an office environment or customer service, preferably experience in loan processing in a credit union or related business.
• Able to communicate effectively through excellent interpersonal and telephone skills.
• Must possess excellent judgment, reasoning, math, grammar, spelling, computer skills and be able to multi-task.
• Attention to detail, a high level of communication skills and the ability to work both independently and in a team setting are required.

Applicable federal and multi-state regulations including, but not limited to:

• NCUA Rules and Regulations (12 CFR Chapter VII)
• 12 CFR Part 701 - Organization and Operation of Federal Credit Unions
• 12 CFR § 701.21 - Loans to Members and Lines of Credit to Members
• 12 CFR Part 707 - Truth in Savings
• 12 CFR Part 716 - Privacy of Consumer Financial Information
• Truth in Lending Act (TILA), Regulation Z
• Equal Credit Opportunity Act (ECOA), Regulation B
• Fair and Accurate Credit Transactions Act (FACTA)
• Home Mortgage Disclosure Act (HMDA), Regulation C
• Electronic Fund Transfer Act (EFTA), Regulation E
• Electronic Signatures in Global and National Commerce Act (E-SIGN Act)
• Unfair, Deceptive, or Abusive Acts or Practices (UDAAP) Requirements
• Military Lending Act (MLA)
• Secure and Fair Enforcement for Mortgage Licensing Act (SAFE Act), Regulation G
• Bank Secrecy Act (BSA)
• USA PATRIOT Act
• Office of Foreign Assets Control (OFAC) Regulations
• State Credit Union Acts and Regulations
• State Consumer Credit and Lending Laws
• State Privacy and Data Protection Laws
• State Electronic Transactions Acts
• State Motor Vehicle Title and Lien Perfection Laws
• State Debt Collection Laws
• State Consumer Fraud and Deceptive Practices Acts
• State Notary and Electronic Notarization Laws
• State Unclaimed Property (Escheatment) Laws
• State UCC (Uniform Commercial Code) Secured Transactions Provisions
• Applicable Multi-State Mortgage and Consumer Lending Requirements
• Credit Union Policies and Procedures

While performing the duties of this job, the employee is frequently required to sit, view information on a computer screen, and talk or hear. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Telephone conversations may be monitored or recorded for the purposes of training, coaching, feedback and quality assurance on an unannounced basis.