Business Lending Support Processor
Company: United States Senate Federal Credit Union
Posted on: May 27, 2023
In the Senate Community tradition of service, we strive to improve the financial wellness of our members throughout all stages of life by integrating sustainability and security into every financial solution.
Culture Competencies: S.T.R.I.V.E
Maintains our members' and employees' trust by safeguarding their financial data and information.
Values and respects everyone's abilities, opinions, and feedback to achieve trust, safety, and well-being in a friendly, welcoming, and cooperative environment. Actively devoted to our motto of "better together".
Is honest, professional, authentic, and genuine in creating relationships that are uncompromising and true to ethical principles.
Generates new ideas, supports change, provides new efficient solutions, and solves problems creatively while balancing risk.
Under general supervision and in compliance with all federal and state regulations and established USSFCU policies and procedures, is responsible for originating, processing, and closing a high volume of business loan applications originated via phone or web. Serves as an ambassador of USSFCU by espousing our "Member First" philosophy and fulfilling our purpose of helping our members achieve financial success. Develops relationships with members by engaging as a member advocate, actively listening, identifying member needs and providing solutions. Driven to meet or exceed individual performance and departmental sales/service goals.
Major Duties & Responsibilities:
Represents the Credit Union in a courteous, engaging, professional manner and provides excellent member service to both members and internal teammates. Is efficient, results driven, and accurate. Understands the impact of behavior and performance on the credit union, the members, potential members, and teammates.
Conducts productive interviews with business loan applicants, gathering the required information for a credit application. Explains loan options, rates, terms, and collateral requirements. Educates business members by providing accurate information regarding credit union products, services, policies, and procedures, helping them to arrive at a beneficial conclusion. Understands and conveys to business members the appropriate rules and regulations related to loan products and services. Understands, interprets, and provides follow-up on important data from various credit reports.
Tracks progress and maintains up-to-date status of assigned loans. Responsible for input and/or verification of data provided by business members, various credit reports, and third-party vendors. Responsible for acting as a liaison between Underwriting and the business member. Thoroughly document loan request and any additional information that will assist Underwriter with the decision process. Thoroughly document status of loan decision, including any follow-up required by business member. Effectively explains loan decisions, stipulations, and requirements to members.
Responsible for obtaining and verifying pertinent documentation based on loan product type and conditions, including but not limited to identification documents, income verification documents and payoffs from other financial institutions or creditors. Works closely with other departments to identify and prevent loan fraud.
Coordinates execution and delivery method of loan documents with members. Establishes repayment and interest schedules based upon loan guidelines and rates.
Orders, reviews, and analyzes appraisals, titles, tax returns, flood reports and any additional documents that may be required by the underwriter.
Creates and updates loans in core system. Responsible for correct funding of loan proceeds, including distribution to proper general ledger accounts as required with the purchase of GAP and/or warranty coverages, overnight processing fees, or other fees as applicable.
Insures loan files are complete and accurate and contain proper signatures, dates, and supporting loan documents.
Maintains proficiency in USSFCU's lending platform and serves as liaison to I.T. Department for any System issues that may impede efficient and accurate member service. Must have the ability to understand and maintain secured document delivery via use of DocuSign and the on-line Message Center.
Actively listens and offers referrals for products and services based on business member needs. Ability to work independently. Meets or exceeds performance, sales, and service goals established by management. Is results driven, possesses a high sense of urgency, and is self-motivated to succeed. Able to multi-task and effectively prioritize a high-volume workload, which requires good organizational skills.
Responds to business member inquiries regarding credit union business loan services and/or account discrepancies. Prioritizes first-call resolution to member concerns. Assists other departments as necessary and works closely with other departments to ascertain necessary corrections for errors. Clears audit exceptions in a timely manner. Performs account file maintenance as necessary.
Interacts in a positive manner with all team members to promote unity, communication, and consistency of operations to help the department and the organization. Takes initiative and actively contributes to helping the team meet and exceed lending and organizational goals.
Actively engages and participates in training, coaching sessions, team meetings, group discussions and motivational/promotional activities with the organization. Completes assigned training initiatives as required within the prescribed timeframe. Strives to improve own personal performance. Takes responsibility and ownership of actions and decisions.
Ensures Credit Union's compliance with Federal Lending Regulations including but not limited to the Equal Credit Opportunity Act, Fair Credit Reporting Act, Truth in Lending, Military Lending Act, Telephone Business Protection Act, Graham-Leach-Bliley Act, and Business Financial Protection Bureau rules.
Complies with all applicable Rules, Regulations and Statutes of the NCUA and other appropriate governing bodies to include but not limited to: The Credit Union Bylaws, Bank Secrecy Act, Office of Foreign Assets Control, Fair Lending Act, and Fair Credit Billing Act.
Complies with all Credit Union policy and procedural guidelines, including but not limited to Member Identification Policy, Bank Secrecy Act, USSFCU Red Flag Policy, USSFCU Loan Policy, and USSFCU Business Lending Guidelines and Procedures.
Performs other duties as assigned.
Education/Experience: High school diploma/equivalent required; Bachelor's degree preferred. Minimum of 2 years lending experience required. Business lending experience preferred.
Skills: Knowledge of Business Membership Products, Services, Guidelines, Policies, and Procedures. Requires advanced understanding of Business and Business Loan Products, Loan Policy, Loan Procedures, Guidelines, and Underwriting criteria preferred. Basic math skills and problem-solving skills required. Ability to cross-sell products and services; ability to read and interpret business credit reports. Requires attention to detail; proofreading skills; flexibility. Advanced knowledge of core banking systems; advanced knowledge of document and data storage systems, including importing and editing skills preferred. Basic knowledge of Microsoft Office suite. Capable of working independently in a high-volume, fast-paced environment, while maintaining a high level of accuracy. Ability to troubleshoot member issues with credit union products/services, including third party products.
Communication:Demonstrated ability to develop and maintain positive relationships with members, teammates, and other credit union departments. Advanced interviewing and interpersonal skills required. Excellent written and oral communication skills required. Requires ability to listen to member needs and recommend appropriate products and services. Deals effectively with members and all levels of staff.
Location: This position can be located at either the Bowman Building or Contact Center locations.
Supervisory: None Required.
Equal Opportunity Employer/Veterans/Disabled
An Equal Opportunity Employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, or protected veteran status, and will not be discriminated against on the basis of disability.
Keyword: Business Lending Support Processor
From: United States Senate Federal Credit Union
Keywords: United States Senate Federal Credit Union, Alexandria , Business Lending Support Processor, Accounting, Auditing , Alexandria, Virginia
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