Indirect Lending Underwriter
Webster First Federal Credit Union, Worcester, Massachusetts, us, 01609
Location: Hybrid (271 Greenwood Street, Worcester, MA)
Position Summary
Dealer First Lending Solutions (DFLS) is a full-service, indirect lending CUSO (credit union service organization) of Webster First Federal Credit Union. Indirect Lending Underwriters are responsible for analyzing and evaluating credit applications for indirect loans for sub-lenders and approved dealers, and ensuring the applications meet the sub-lender’s lending policies and guidelines. This role includes working with auto dealerships and other indirect lending partners, reviewing, and approving, countering, or denying loan applications. The ideal candidate will be energetic, detail-oriented, possess a positive attitude, and have exceptional communication skills. A supportive team player that can serve clients in a timely manner while delivering excellent customer service will be most successful in this role.
This is a 40-hour per week hybrid position with requirements for weekly in-person meetings in Worcester, occasional work outside normal business hours, and travel for dealer visits required. The standard schedule is Monday through Wednesday: 8:00 a.m. – 4:00 p.m.; Thursday: 9:00 a.m. – 6:00 p.m., Friday: 8:00 a.m. – 5:00 p.m. Indirect Lending Underwriters are required to work at least one Saturday per month (10:00 a.m. – 5:30 p.m.) and rotating holidays.
Essential Functions & Responsibilities
Review collateral specifications, customer profiles, and credit files to render decisions on indirect lending applications received from a network of dealers, while managing predetermined turn-around time guidelines. Escalate decision making to management when necessary.
Assess the creditworthiness of applicants and the collateral offered and maintain accurate and detailed notes in loan applications.
Work with dealers and clients to obtain any missing or incomplete application information needed to make a credit decision.
Maintain a high level of customer service and confidentiality with clients and dealership personnel while resolving issues with speed, accuracy, and empathy.
Have the ability to resolve dealer and client concerns and issues in a timely manner.
Under general guidance of management, prioritize application queues based on time, dealer, and credit score, and make accommodations based on funding, collateral, and credit policy.
Use limited authority levels to make policy override decisions and review funding exceptions.
Monitor loan origination system queues and communicate with dealers and clients electronically and by phone to resolve issues in a timely manner.
Adhere to all company policies, stay abreast of policy amendments, and successfully complete any required training in a timely manner.
Attend weekly meetings in Worcester, MA and periodic offsite dealer visits, as scheduled.
Promote Bank Secrecy Act (BSA) Compliance by adhering to all BSA and Office of Foreign Assets Control (OFAC) Regulations specific to the job functions and by assisting the BSA Department as necessary with any departmental function-specific items.
Support the overall business objectives of WFFCU at all times, exercising flexibility, creativity, strategic thinking, and exceptional customer service, externally and internally.
Perform similar work-related duties, as assigned.
Education, Experience, and Skill Requirements
High school diploma or equivalent. Bachelor’s degree preferred
Minimum of 5 years of banking/credit union experience required.
Minimum of 2 years of indirect auto underwriting experience required.
Collection experience preferred.
Basic math skills and ability to spot discrepancies to understand department analytics.
Ability to read and understand credit bureau data.
Basic understanding of state and federal regulatory compliance and policy issues and risk mitigation as well as fair lending and preferential lending.
Proficient with Microsoft Office, including Excel, Word, Teams, and Outlook, as well as industry specific software.
Excellent written and verbal communication skills, and ability to develop and maintain relationships with dealers and clients
Excellent referral and customer service skills.
Professional demeanor with strategic thinking ability.
Strong organizational skills and attention to detail.
Positive attitude and team player
Valid, insurable driver’s license and reliable transportation to be able to travel to Worcester weekly, for team meetings and for periodic dealer visits offsite.
Ability to be relied upon to be available for work, including occasional weekends, holidays, and hours outside of normal business hours.
About the Work Environment & Physical Demands While performing the duties of this job, the employee is regularly required to use hands to finger, handle, or feel; reach with hands and arms; and to talk or hear. The employee is frequently required to sit and to use a computer or other electronic devices and office equipment. The employee is occasionally required to stand, walk, and drive. The employee must occasionally lift and/or move up to 25 pounds. Specific vision abilities required by this job include close vision, distance vision, peripheral vision, depth perception, and ability to adjust focus. The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodation may be made to enable individuals with disabilities to perform the essential functions.
Pay Range $50,000-$60,000/year
Note This range reflects the full salary band for positions at this level. Individual compensation is determined based on experience, skills, and internal equity.
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This is a 40-hour per week hybrid position with requirements for weekly in-person meetings in Worcester, occasional work outside normal business hours, and travel for dealer visits required. The standard schedule is Monday through Wednesday: 8:00 a.m. – 4:00 p.m.; Thursday: 9:00 a.m. – 6:00 p.m., Friday: 8:00 a.m. – 5:00 p.m. Indirect Lending Underwriters are required to work at least one Saturday per month (10:00 a.m. – 5:30 p.m.) and rotating holidays.
Essential Functions & Responsibilities
Review collateral specifications, customer profiles, and credit files to render decisions on indirect lending applications received from a network of dealers, while managing predetermined turn-around time guidelines. Escalate decision making to management when necessary.
Assess the creditworthiness of applicants and the collateral offered and maintain accurate and detailed notes in loan applications.
Work with dealers and clients to obtain any missing or incomplete application information needed to make a credit decision.
Maintain a high level of customer service and confidentiality with clients and dealership personnel while resolving issues with speed, accuracy, and empathy.
Have the ability to resolve dealer and client concerns and issues in a timely manner.
Under general guidance of management, prioritize application queues based on time, dealer, and credit score, and make accommodations based on funding, collateral, and credit policy.
Use limited authority levels to make policy override decisions and review funding exceptions.
Monitor loan origination system queues and communicate with dealers and clients electronically and by phone to resolve issues in a timely manner.
Adhere to all company policies, stay abreast of policy amendments, and successfully complete any required training in a timely manner.
Attend weekly meetings in Worcester, MA and periodic offsite dealer visits, as scheduled.
Promote Bank Secrecy Act (BSA) Compliance by adhering to all BSA and Office of Foreign Assets Control (OFAC) Regulations specific to the job functions and by assisting the BSA Department as necessary with any departmental function-specific items.
Support the overall business objectives of WFFCU at all times, exercising flexibility, creativity, strategic thinking, and exceptional customer service, externally and internally.
Perform similar work-related duties, as assigned.
Education, Experience, and Skill Requirements
High school diploma or equivalent. Bachelor’s degree preferred
Minimum of 5 years of banking/credit union experience required.
Minimum of 2 years of indirect auto underwriting experience required.
Collection experience preferred.
Basic math skills and ability to spot discrepancies to understand department analytics.
Ability to read and understand credit bureau data.
Basic understanding of state and federal regulatory compliance and policy issues and risk mitigation as well as fair lending and preferential lending.
Proficient with Microsoft Office, including Excel, Word, Teams, and Outlook, as well as industry specific software.
Excellent written and verbal communication skills, and ability to develop and maintain relationships with dealers and clients
Excellent referral and customer service skills.
Professional demeanor with strategic thinking ability.
Strong organizational skills and attention to detail.
Positive attitude and team player
Valid, insurable driver’s license and reliable transportation to be able to travel to Worcester weekly, for team meetings and for periodic dealer visits offsite.
Ability to be relied upon to be available for work, including occasional weekends, holidays, and hours outside of normal business hours.
About the Work Environment & Physical Demands While performing the duties of this job, the employee is regularly required to use hands to finger, handle, or feel; reach with hands and arms; and to talk or hear. The employee is frequently required to sit and to use a computer or other electronic devices and office equipment. The employee is occasionally required to stand, walk, and drive. The employee must occasionally lift and/or move up to 25 pounds. Specific vision abilities required by this job include close vision, distance vision, peripheral vision, depth perception, and ability to adjust focus. The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodation may be made to enable individuals with disabilities to perform the essential functions.
Pay Range $50,000-$60,000/year
Note This range reflects the full salary band for positions at this level. Individual compensation is determined based on experience, skills, and internal equity.
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