Indirect Loan Officer

Indirect Loan Officer is responsible for facilitating the indirect loan application, and the approval of indirect automobile, motorcycle and recreational vehicles loans that originate from approved dealerships.

Essential Functions

• Work with dealerships on the loan application process to ensure completeness of information.
• Review loan applications submitted and when necessary gather additional information on applicant.
• Calculate debt-to-income ratios on loan applicants.
• Determine collateral value and payment qualifications.
• Approve, Counter or Deny loan application within authority limit and in accordance with established lending policy. Refer to management any loans that require further review.
• Disburse proper documents for loans denied.
• Cross-sell credit union products and services including but not limited to Payment Protection and GAP protection.
• Assist with reviewing all incoming loan packets from dealers for completeness, proper order, loan policy and appropriate documentation.
• Assist with funding the loans and opening new member accounts.
• Aid in follow up with dealerships for missing documents needed prior to funding.
• Order payment booklets for members.
• Prepare and Send Payoff request for members while at dealerships.
• Assist with indirect promotions and marketing offers.
• Assist with preparing and sending follow up letters for Smart Approvals.
• Assist with the preparation of loan documents and supporting documents for imaging.
• Work with, train and assist Indirect Lending Support to ensure understanding of documents, policy/procedures and regulations with indirect lending.
• Be knowledgeable in all regulatory requirements regarding indirect lending.Ensure all contracts and relationships with auto dealers comply with State, Federal and Erie FCU rules and regulations.
• Prepare special and recurring reports relating to lending activity at the Credit Union.
• Maintain current knowledge of all Credit Union policies and procedures, including compliance with federal laws and regulations as set forth by the NCUA and other regulatory agencies.

NOTE: The list of essential functions is not exhaustive. It may be supplemented as necessary.

ADDITIONAL FUNCTIONS:

• Assist in other departments as necessary.
• Attend training courses, conferences and seminars as necessary.
• Assist members with inquiries on existing loan accounts and services and perform necessary research for a resolution.

JOB SPECIFICATIONS:

• Requires professional, well-developed interpersonal skills for communication with dealerships, members and co-workers.
• Requires thorough knowledge of the Credit Union’s policies, procedures, products and services regarding the lending function. Requires knowledge of laws and regulations governing indirect lending.
• Intermediate mathematical skills required (calculations and concept involving decimals, percentages and fractions, etc.)
• Requires completion of high school education.
• Requires at least one year of experience in the lending or services function of a financial institution.
• Requires PC proficiency and knowledge of Office Suite.

Physical Requirements

Sitting = Continuous Crawling = Occasional

Standing = Frequent Climbing = Occasional

Walking = Frequent Balancing = Occasional

Driving an automobile = Occasional Reaching Overhead =Occasional

Lifting/Carrying = Occasional Reaching Forward = Occasional

Amount of Weight = 15-25 Kneeling = Occasional

Squatting = Occasional Push/Pull = Occasional

Bending = Occasional Twisting = Occasional