Position Title: Loan Officer
Department: Consumer Lending
We are guided by our IDEA principles – Inclusion, Diversity, Equity, and Accessibility – to support a workforce that reflects our community. Our principles support Greylock’s mission and our goals of building a diverse workforce – reflecting multiple identities – and supporting the diverse communities we serve. We strive to ensure that the spaces in which we work and community members we engage are inclusive.
There is a $2,000 non-discretionary bonus available for full time employment. Eligibility for the bonus is $1,000 after successful completion of onboarding to be paid in the second paycheck, and $1,000 after 6 months of continued full time satisfactory service.
Under the direction of the VP of Consumer Lending, originates and may underwrite all loan products for the Credit Union in conformance with established Credit Union policies, strategies and procedures.
Key Job Requirements:
1. Performs any functions, within scope of authority and expertise to provide the highest level of service and responsiveness to the members served by the Credit Union while performing all duties in accordance with prescribed regulatory compliance guidelines and Credit Union policies and procedures.
2. Originates and underwrites assigned loans to meet sales and service goals. Provides quality member service throughout the loan process. Makes loan decisions within assigned limits and makes recommendations for approval of loans in excess of individual lending authority. Informs members of the various loan programs, products and services offered by the Credit Union. Maintains frequent contact with members, as applicable, up through loan closing. Responsible for the quality of loan documentation and adherence to Loan Policies and Procedures. Provides credit counseling to members when necessary. Answers questions regarding rates, policies and practices at the Credit Union.
3. Establishes and maintains solid contact and relationships with network of auto and recreational vehicle dealerships and other related professionals as assigned to promote and develop Credit Union business; provides information on rates, new programs or procedures implemented by the Credit Union.
4. Responsible for the timely completion of the monthly loan reports as assigned for the Loan Manager. Implements and manages dealer referral incentive program. Monitors activity levels and dealer participation; troubleshoots potential issues. Maintains a satisfactory turnaround time for dealer referred applications. Ensures timely delivery of dealer-related supplies such as rate sheets, promotions, contracts, lease information and account opening forms.
5. Assists in collection effort to ensure that delinquency percentages and loss ratios meet the goals of the credit union.
6. Monitors and reviews monthly Dealer Delinquency/Charge off reports and notifies the Loan Manager of any concerns. Continually reviews the character and solvency of each dealership/F&I personnel.
7. Counsels other lenders regarding loan decisions as needed.
8. Reviews processes to generate business and ways to render support between the various Credit Union departments. Helps develop short and long-term goals.
9. Responds to a wide variety of member inquiries. Researches member accounts to correct errors and update system. Assists with transactions. Responds to and resolves, within limits of authority, member problems or inquiries regarding consumer loan accounts. May suggest financial coaching or financing alternatives as necessary or when loan is denied.
10. Maintains current knowledge of all Credit Union products with a strong concentration on lending products. Actively refers other credit union products and services. Provides product guidance to members.
11. Promotes the Credit Union wherever and whenever possible. Encouraged to actively represent the Credit Union in local civic, community and professional organizations.
12. Works closely with branch partners to provide consumer lending support.
The above is a description of the ordinary duties of the position. It should be expected that from time to time other duties both related and unrelated to the above may be assigned and, therefore, required.
As approved by the Board of Directors.