Allegacy Federal Credit Union
Indirect Underwriter
Allegacy Federal Credit Union, Winston Salem, North Carolina, United States, 27104
Allegacy Federal Credit Union
Employee Job Description
Job Title: Indirect Underwriter Job Code: 20246
Reports To: Supervisor, Indirect Lending, TLC
General Accountability
The primary purpose of this position is to assist Allegacy Federal Credit Union in living out its mission, "to help you make smart financial choices" and support the expected behaviors of the Synergy culture. To achieve this goal the employee must provide outstanding service to both internal and external members. A key component of this service to identify the financial needs of the member and recommend an appropriate credit union solution. In addition, this position assists members with loan applications and other AFCU product account openings. This position counsel's members as to best AFCU product to meet their needs, inputs and verifies documentation into the loan or account system and processes approved loans. This position mainly makes final underwriting decisions related to both indirect/sales finance auto loans, as well as Lifestyle Lending applications that come into the LOS from provider source relationships. This position provides customer service throughout the loan request/and or account opening process and is responsible for cross-selling other Allegacy products and services.
This position reviews and underwrites loans that are not always within the guidelines of AFCU's direct consumer auto loan guidelines, assuring consistency within the credit granting processes. The position also functions as ongoing support and assists in the training of new employees and those with identified training needs in related areas. This position is often also required to assist in management of the loan workflow process related to both indirect and lifestyle loans, which often includes loan processing and documentation functions, in addition to underwriting of these loans.
This position will also be responsible for high level and complicated underwriting of indirect loans. This individual must be able to demonstrate the ability to help guide and oversee the loan processing, funding, and ACH functionalities involved within this area. This individual will be a main point of contact with indirect and lifestyle lending LOS as well. He/She should monitor the proper functionality of the LOS day to day to ensure its performance is adequate to meet the business need and work with the vendor to resolve issues that might occur.
Nature and Scope
This position provides needs-based advice and counsel to members in respect to their borrowing needs while offering additional products that will assist AFCU in becoming the primary financial institution for our membership. The objective is for this indirect auto loan to be a conduit that leads to a deeper relationship with this new member. This position must be thoroughly aware of all AFCU products and services along with the proper disclosures and regulations and ensure that they are properly communicated at loan or account closing.
This position has the responsibility of protecting the credit union from loss by making sound lending decisions in a riskier market. This position works directly with indirect dealer relationships to provide timely and efficient decisions that offer AFCU an optimal chance to eventually fund each application received. This position must work as a strong teammate with the other Indirect Underwriter to ensure proper coverage from business day to business day. Each of these officers must be willing and able to work on Saturdays and many legal holidays (even though the credit union might be closed) in order to meet the demands of the indirect auto lending marketplace. The quick decisions required of this position require the innate ability to spot potential "red flags" within a potential applicant's credit history and/or job history. This loan type carries a higher loan loss risk level if every possible measure is not taken to ensure credit legitimacy and quality.
Specific Accountabilities
Deliver outstanding service to both internal and external service that meets or exceeds our Service Promises.We promise to treat you with the respect deserving of an owner.We promise to find ways to offer simplicity and convenience.We promise to recognize your needs and recommend innovative solutions that will help you make smart financial choices.We promise to ensure the security of your financial information.We promise to take ownership of your request.We promise to express our appreciation for the opportunity to serve you.Completion of all required compliance training to include BSA.Meet or exceed established sales and service goals.Must possess effective knowledge of the Credit Union's products and services.Must be willing and able to work a "varied" work schedule, which includes extended workdays, when needed, weekend (Saturdays) work, and working on legal holidays, even when the credit union's general operations are closed.Must be willing and able to aid in the supervision, coaching and mentoring of other members of the indirect lending loan processing and funding team as needed.Interview applicants applying through remote channels to ascertain requests and make appropriate product recommendations.Coordinate the processing of loan applications to ensure prompt examination of applicant's credit worthiness to minimize risk to AFCU.Ensure that proper documentation is disclosed to applicant to comply with laws, regulations and policies that relate to credit union's indirect lending procedures.Recommend other credit union products (cross-sell) based on identified needs during the underwriting process.Work with the other members of the indirect and lifestyle lending area to ensure that all processes with the workflow are properly and timely executed to meet the business need.Collaborate with other departments throughout the credit union to grow membership and increase community awareness of AFCU.Incorporate AFCU performance attributes in daily work activities along with the willingness and ability to display a professional, courteous and helpful attitude to members (internal as well as external).Provide service in a professional manner when dealing with automobile dealers and other product representatives outside the credit union. Discretion must be always exercised to preserve the member/loan officer confidentiality.Additional duties as assigned to meet business needs.
Requirements
Knowledge, Skills and Abilities
Demonstrate successful sales performance that supports and promotes a sales and service culture within AFCU.
Demonstrate lending decision-making ability including analyzing credit requests.
Ability to discuss, recommend all AFCU's products and services.
Accuracy in handling complicated transactions.
Demonstrate customer service skills, including problem solving for members.
Ability to conduct business in a professional manner, exercising personal discretion and independent judgment, while maintaining compliance with policies, laws, and regulations.
Ability to maintain confidentiality in respect to the member's financial affairs.
Education and Experience
Two or more years' experience in a risk-based lending environment.
Relevant experience in the indirect/sales finance lending marketplace; 2 years preferred.
Undergraduate degree in business or related degree preferred.
Demonstrated familiarity and proficiency with computers required.
Strong verbal and written communication
Reliability, financial responsibility and personal integrity
Employee Job Description
Job Title: Indirect Underwriter Job Code: 20246
Reports To: Supervisor, Indirect Lending, TLC
General Accountability
The primary purpose of this position is to assist Allegacy Federal Credit Union in living out its mission, "to help you make smart financial choices" and support the expected behaviors of the Synergy culture. To achieve this goal the employee must provide outstanding service to both internal and external members. A key component of this service to identify the financial needs of the member and recommend an appropriate credit union solution. In addition, this position assists members with loan applications and other AFCU product account openings. This position counsel's members as to best AFCU product to meet their needs, inputs and verifies documentation into the loan or account system and processes approved loans. This position mainly makes final underwriting decisions related to both indirect/sales finance auto loans, as well as Lifestyle Lending applications that come into the LOS from provider source relationships. This position provides customer service throughout the loan request/and or account opening process and is responsible for cross-selling other Allegacy products and services.
This position reviews and underwrites loans that are not always within the guidelines of AFCU's direct consumer auto loan guidelines, assuring consistency within the credit granting processes. The position also functions as ongoing support and assists in the training of new employees and those with identified training needs in related areas. This position is often also required to assist in management of the loan workflow process related to both indirect and lifestyle loans, which often includes loan processing and documentation functions, in addition to underwriting of these loans.
This position will also be responsible for high level and complicated underwriting of indirect loans. This individual must be able to demonstrate the ability to help guide and oversee the loan processing, funding, and ACH functionalities involved within this area. This individual will be a main point of contact with indirect and lifestyle lending LOS as well. He/She should monitor the proper functionality of the LOS day to day to ensure its performance is adequate to meet the business need and work with the vendor to resolve issues that might occur.
Nature and Scope
This position provides needs-based advice and counsel to members in respect to their borrowing needs while offering additional products that will assist AFCU in becoming the primary financial institution for our membership. The objective is for this indirect auto loan to be a conduit that leads to a deeper relationship with this new member. This position must be thoroughly aware of all AFCU products and services along with the proper disclosures and regulations and ensure that they are properly communicated at loan or account closing.
This position has the responsibility of protecting the credit union from loss by making sound lending decisions in a riskier market. This position works directly with indirect dealer relationships to provide timely and efficient decisions that offer AFCU an optimal chance to eventually fund each application received. This position must work as a strong teammate with the other Indirect Underwriter to ensure proper coverage from business day to business day. Each of these officers must be willing and able to work on Saturdays and many legal holidays (even though the credit union might be closed) in order to meet the demands of the indirect auto lending marketplace. The quick decisions required of this position require the innate ability to spot potential "red flags" within a potential applicant's credit history and/or job history. This loan type carries a higher loan loss risk level if every possible measure is not taken to ensure credit legitimacy and quality.
Specific Accountabilities
Deliver outstanding service to both internal and external service that meets or exceeds our Service Promises.We promise to treat you with the respect deserving of an owner.We promise to find ways to offer simplicity and convenience.We promise to recognize your needs and recommend innovative solutions that will help you make smart financial choices.We promise to ensure the security of your financial information.We promise to take ownership of your request.We promise to express our appreciation for the opportunity to serve you.Completion of all required compliance training to include BSA.Meet or exceed established sales and service goals.Must possess effective knowledge of the Credit Union's products and services.Must be willing and able to work a "varied" work schedule, which includes extended workdays, when needed, weekend (Saturdays) work, and working on legal holidays, even when the credit union's general operations are closed.Must be willing and able to aid in the supervision, coaching and mentoring of other members of the indirect lending loan processing and funding team as needed.Interview applicants applying through remote channels to ascertain requests and make appropriate product recommendations.Coordinate the processing of loan applications to ensure prompt examination of applicant's credit worthiness to minimize risk to AFCU.Ensure that proper documentation is disclosed to applicant to comply with laws, regulations and policies that relate to credit union's indirect lending procedures.Recommend other credit union products (cross-sell) based on identified needs during the underwriting process.Work with the other members of the indirect and lifestyle lending area to ensure that all processes with the workflow are properly and timely executed to meet the business need.Collaborate with other departments throughout the credit union to grow membership and increase community awareness of AFCU.Incorporate AFCU performance attributes in daily work activities along with the willingness and ability to display a professional, courteous and helpful attitude to members (internal as well as external).Provide service in a professional manner when dealing with automobile dealers and other product representatives outside the credit union. Discretion must be always exercised to preserve the member/loan officer confidentiality.Additional duties as assigned to meet business needs.
Requirements
Knowledge, Skills and Abilities
Demonstrate successful sales performance that supports and promotes a sales and service culture within AFCU.
Demonstrate lending decision-making ability including analyzing credit requests.
Ability to discuss, recommend all AFCU's products and services.
Accuracy in handling complicated transactions.
Demonstrate customer service skills, including problem solving for members.
Ability to conduct business in a professional manner, exercising personal discretion and independent judgment, while maintaining compliance with policies, laws, and regulations.
Ability to maintain confidentiality in respect to the member's financial affairs.
Education and Experience
Two or more years' experience in a risk-based lending environment.
Relevant experience in the indirect/sales finance lending marketplace; 2 years preferred.
Undergraduate degree in business or related degree preferred.
Demonstrated familiarity and proficiency with computers required.
Strong verbal and written communication
Reliability, financial responsibility and personal integrity