Underwriter

Universal 1 Credit Union; Beavercreek (OH); On-site; USD 55,000 - 75,000; Full time

Job summary

Universal 1 Credit Union seeks an experienced loan underwriter to evaluate and underwrite loan applications, assess risk, and ensure compliance with credit union policies. The ideal candidate will analyze financial data, communicate with members and staff, and maintain thorough documentation while supporting service excellence.

The role requires three years in financial underwriting, NMLS certification, and availability for evenings and weekends.

Qualifications

• High School Diploma or equivalent required; NMLS certification required.
• Associate degree in related field or equivalent experience preferred.
• Three years of related progressive experience, preferably in a financial environment.
• Evenings, weekends, and on-call work availability.

Responsibilities

• Evaluate and underwrite loan applications for consumer loans, ensuring accuracy and regulatory compliance.
• Analyze financial statements, credit reports, and documentation to determine creditworthiness.
• Assess risk factors and make approvals/denials based on underwriting guidelines.
• Communicate with members and loan officers to obtain needed information and provide updates.
• Maintain complete underwriting documentation and ensure regulatory compliance.
• Identify process improvements to enhance underwriting efficiency and effectiveness.
• Prepare reports on underwriting activity and loan performance.

Skills

Excellent communication

Interpersonal abilities

Interviewing skills

Written communications

Organizational skills

Problem-solving

Financial math

Analyze financial documents

Microsoft Office

Detail-oriented

Multitasking

Education

High School Diploma or equivalent

NMLS certification

Associate degree preferred

Job description

POSITION PURPOSE

Responsible for evaluating and analyzing loan applications to assess creditworthiness and risk. This role involves reviewing financial documents, verifying applicant information, and making informed decisions on loan approvals or denials based on established guidelines and policies. Your goal will be to provide excellent member service while meeting the company's underwriting guidelines and compliance standards. Is aligned with and promotes U1 values.

The ideal candidate will possess strong analytical skills, a thorough understanding of lending regulations, and a commitment to providing excellent member service.

ESSENTIAL FUNCTIONS AND BASIC DUTIES

Upholds U1 Values

• Trustworthy
• Focuses on compliance and security by following regulations and U1 Procedures.
• Understands NCUA insurance and lending regulations.
• Follow directions.
• Friendly
• Effective and professional relationships with members, vendor partners and all levels of employees.
• Supports and mentors U1 employees.
• Reliable
• Meet deadlines and respond promptly.
• Other projects/tasks assigned.
• Assists lending team as needed.
• Assists with training.

Products/Services Support

• Understand all products/services offered by U1.
• Explain all products/services to employees or current/potential members.
• Underwrites appropriate products/services that fit the needs of current or potential members.
• Makes referrals.

Makes Appropriate Referrals

• Follows procedures on when and how to refer members. Referrals include but are not limited to:
• Service Center Managers (merchant lending)
• Lending Team (2nd mortgage and business lending)
• Mortgage Team (1st mortgage)
• Financial Advisory Services (advisory services)
• Credit Solutions (30+ days past due, negative share already closed or charged off, payments for charged off accounts, hardship requests, total loss accounts, repo, bankruptcy, deceased accounts with loans)
• Payments (payment forms assistance, wire requests, debit card dispute requests, ACH originations or troubleshooting, ACH affidavit, credit card balance transfer and credit balance, ATM check deposits, RDC deposits, loan payment or check adjustments)

Lending

• Performs the following:
• Loan Application Review:
  • Evaluate and underwrite loan applications for various types of loans, including consumer loans, ensuring accuracy and compliance with credit union policies and regulatory requirements.
  • Analyze financial statements, credit reports, and other relevant documentation to determine the creditworthiness of applicants.
• Risk Assessment:
  • Assess risk factors associated with loan applications, including credit history, income stability, and debt-to-income ratios.
  • Make informed decisions on loan approvals or denials based on risk assessment and underwriting guidelines.
• Member Communication:
  • Communicate with members and loan officers/employees to obtain additional information or clarification as needed.
  • Provide clear and timely responses to member inquiries regarding loan application status and decisions.
• Compliance and Documentation:
  • Ensure all loan underwriting activities comply with credit union policies, industry regulations, and legal requirements.
  • Maintain accurate and complete documentation of underwriting decisions and related correspondence.
• Process Improvement:
  • Identify opportunities for process improvements to enhance the efficiency and effectiveness of the underwriting process.
  • Collaborate with team members and management to implement best practices and optimize underwriting procedures.
• Reporting and Analysis:
  • Prepare reports and summaries on underwriting activity and loan performance as required.
  • Monitor trends and metrics to identify potential areas of concern or opportunity.

Member Service

• Effectively and professionally assists members by the following:
• Collect information/data.
• Assist with research and resolution.
• Secure and answer questions.
• Report results to members and appropriate team members and/or leadership.
• Utilizes all channels of communication such as in person, phone calls, emails, or other electronic tools while maintaining a positive and professional U1 image.

QUALIFICATIONS

Education/Certification:

• High School Diploma or equivalent is required.
• Required to attain and/or maintain NMLS certification.
• Associate degree in related field or equivalent experience is preferred.

Experience Required:

• Three years of related progressive experience, preferably in a financial environment.

Knowledge/Skills/Abilities:

• Must be able and willing to work evenings, weekends, and be on call.

• Understanding of the Credit Union's field of membership.
• Thorough knowledge of Credit Union services and products.
• Understanding related legal and regulatory requirements.
• Excellent communication and interpersonal abilities.
• Strong interviewing and written communications skills.
• Good organizational and problem-solving abilities.
• Strong financial math skills
• Ability to analyze financial documents and assess loan risk.
• Knowledge of Microsoft Office products
• Highly organized, detail-oriented, and capable of managing multiple tasks in a fast-paced environment.

WORK ENVIRONMENT/PHYSICAL ACTIVITIES

Work Environment:

The work environment described here is representative of those an employee encounters while performing the essential functions of this job. The noise level is usually moderate and typical of those in a typical office.