Job details

Inbound Central Consumer Loan Officer

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Position Summary:

Provide information on credit union products and services to members according to all credit union policies and procedures, and Federal and State rules and regulations. Collate and analyze individual financial information in support of loan decisioning process. Evaluate and recommend loan approvals, denials, counteroffers, loan modifications, and debt restructuring based upon individual circumstances and data. Process required forms and related documentation for consumer loan products. Partners to approve or deny loan applications within prescribed parameters. Promote credit union products and services.

Duties and Responsibilities:

Interview consumer loan applicants. Assist member in completing loan applications over the phone and/or electronically.
Collate, analyze, and evaluate information & documentation in support of loan applications.
Evaluate borrower Character, Collateral, Capacity to Repay, and Credit position as a part of loan decisioning process based upon individual circumstances.
Calculate debt-to-income ratios, collateral needs, and payment plans on consumer loan applicants.
Correspond with members, applicants, and creditors to resolve questions regarding application information.
Provide information on consumer loan products that best meet the member’s individual needs and circumstances.
Help recommend the structure of loan pricing, terms, and amounts for individual borrowers.
Recommend loan approval/denials, counter-offers, and deviations from conventional loan structure and pricing. Manage loan closing process with customers.
Consult with members and the public about asset purchase, credit management, budgeting, debt restructuring, and financial planning issues.
Notify applicant of loan decision. Inform prospective borrowers of loan commitments.
Review regulations as they apply to installment loan security agreements.
Make outbound calls to members to solicit loan applications.
Provide exceptional member service to our members.
Abide by all applicable policies, procedures, and regulations.
Work proactively to build relationships necessary to meet set goals for the position.
Effectively assist members through the loan application and approval process, educating them about loan issues as needed.
Effectively prepare loan documentation for processing, ensuring it is complete and accurate.
Assist in managing risk through diligence in the information gathering process.
Provide timely, service-oriented feedback to applicants regarding the status of their loans.
Perform assigned loan prospect calls to assist in meeting goals for the position.

Knowledge, Skills, and Abilities:

Knowledge of the consumer loan application process.
Knowledge of consumer credit.
Ability to collate and analyze individual borrower financial information.
Receive inbound calls and internal referrals to help members with loan products or service-related issues.
Collaborate and partner with other departments such as Underwriting and Loan Servicing for fulfill loan requests.
Evaluate information and make recommendations regarding loan pricing, structure, amounts, terms, debt restructuring, and loan modifications as appropriate.
Ability to recommend loan approvals, denial, and counteroffers based upon analysis of individual facts and circumstances.
Ability to build rapport, explaining product features & benefits, and persuasively communicate.
Skills in developing business.
Sound PC computing skills, including MS-Office and loan application software.
Strong problem-solving skills.
Ability to build credibility and trust.

Education and Experience:

High School Diploma or equivalent required. College Degree in Business Administration, Marketing, Sales, or Finance desired.
Previous Consumer Lending, Banking, Financial Consulting, or Sales experience desired.
Experience working in a face-to-face customer service/sales environment.
Experience making outbound calls to solicit business.
Experience working in a process-oriented environment with importance placed on attention to detail.
A record of success in meeting set, external goals for productivity.

Physical Requirements (with or without accommodation):

Long periods of sitting will occur regularly.
Occasional lifting and/or moving 15 lbs or less.
Use of a computer and telephone required.
Occasional bending, stooping, or crouching may be required.

This job description is not a complete statement of all duties and responsibilities comprising this position.

Average salary estimate

$60000 / YEARLY (est.)

min

max

$50000K

$70000K

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What You Should Know About Inbound Central Consumer Loan Officer, Marine Credit Union

Are you ready to take on an exciting challenge as an Inbound Central Consumer Loan Officer? Join our vibrant team where you can work from the comfort of your home! At our credit union, you'll play a crucial role in helping our members navigate the world of consumer loans. Your mission will be to provide valuable information on our diverse range of products and services while adhering to all policies and regulations. You'll engage with members over the phone or online, assisting them in completing loan applications, analyzing their financial information, and evaluating options that best suit their unique needs. Your keen analytical skills will come in handy as you tally up debt-to-income ratios and assess collateral to make informed loan decisions. Beyond just processing applications, you’ll cultivate relationships with our members by offering tailored recommendations on loan structuring, pricing, and terms. Communication is key, as you'll inform applicants about their loan status and help demystify the financial planning process. If you have a knack for problem-solving and a passion for exceptional customer service, this could be the perfect fit for you. We value creativity and resourcefulness, and we are excited to see how you can contribute to our team while helping our members achieve their financial goals.

Frequently Asked Questions (FAQs) for Inbound Central Consumer Loan Officer Role at Marine Credit Union

What qualifications do I need to become an Inbound Central Consumer Loan Officer?

To become an Inbound Central Consumer Loan Officer, a high school diploma or equivalent is essential, while a college degree in fields like Business Administration or Finance is preferred. Additionally, previous experience in consumer lending, banking, or sales will be beneficial to succeed in this role.