Consumer Loan Representative
Bank-Fund Staff FCU, Washington, District of Columbia, United States
About BankFund:
BankFund Credit Union is a full-service financial cooperative that was organized and chartered in 1947 as a convenient place for employees of the World Bank Group and International Monetary Fund and their families to save and to obtain credit. Located in Washington, DC, BankFund maintains three full-service branches downtown with our headquarters located near Farragut West metro station. This position is classified as a hybrid role which means that on-site work will be expected. After completion of training for the role, staff generally work on site 40% of the time but this is subject to change based on health and safety standards and operational need.
Responsibilities:
• Ensure timely completion of all consumer loan requests; review all application, credit and collateral information to ensure compliance with all underwriting guidelines and regulatory requirements.
• Disburse approved consumer loans; complete Member Services cross-sell requests.
• Prepare completed documentation for imaging and archiving; organize pending application files for maximum processing and disbursement efficiency; follow-up on all approved, pre-approved and pending loan applications to maximize disbursement volume; withdraw expired applications.
• Request purchase order documentation and ensure proper insurance coverage on all secured auto loans. Prepare collateral documentation for all secured loan transactions to ensure that the Credit Union's interests are promptly and properly secured; forward auto packets and titles to Loan Servicing for further processing.
• Research and acquire collateral value for all secured auto, boat, airplane, RV and motorcycle loans; determine and notate value in the loan processing system and loan-to-value ratio in processing comments. Educate members about the features and benefits of the Credit Union's Payment Protection products, including credit life and credit disability insurance, GAP (Guaranteed Asset Protection) and MRC (Mechanical Repair Coverage); prepare estimates and complete policies through CUNA Mutual Group. Collaborate directly with Card Services to ensure proper processing of new credit card accounts and credit limit increases.
• Encourage adoption of automatic payment options; accurately set up automatic payment options to ensure timely payments.
• Grant lending authority for credit cards up to $25,000, once the representative has been in the position for one year, has demonstrated a solid background in analyzing and making recommendations of members' applications and as deemed merited by management through Credit Committee.
For internal purposes, this position is graded as NE - 6.
The anticipated annualized base salary range for this position is $50,000to $62,000. Final base salary for this role will be based on the individual's job-related experience, skillset, training, certifications and market demands. The benefits available for this full-time position include but are not limited to: medical, dental, and vision insurance, 401(k) plan, life insurance coverage, disability benefits, tuition assistance program and paid time off, including paid parental leave benefits. In addition to base compensation salary, this role position is eligible for an annual incentive plan.
Requirements
Minimum Qualifications:
Education:
• Associates Degree in related field or equivalent combination of Education and Experience.
Experience:
• Minimum 2 years prior banking experience
• A strong and proven commitment to the Credit Union's IMPACT Philosophy
• Well developed communication and member relations skills
• Proven ability to organize and prioritize tasks in a fast paced environment
• Proficient in Computer software programs
BankFund Credit Union is a full-service financial cooperative that was organized and chartered in 1947 as a convenient place for employees of the World Bank Group and International Monetary Fund and their families to save and to obtain credit. Located in Washington, DC, BankFund maintains three full-service branches downtown with our headquarters located near Farragut West metro station. This position is classified as a hybrid role which means that on-site work will be expected. After completion of training for the role, staff generally work on site 40% of the time but this is subject to change based on health and safety standards and operational need.
Responsibilities:
• Ensure timely completion of all consumer loan requests; review all application, credit and collateral information to ensure compliance with all underwriting guidelines and regulatory requirements.
• Disburse approved consumer loans; complete Member Services cross-sell requests.
• Prepare completed documentation for imaging and archiving; organize pending application files for maximum processing and disbursement efficiency; follow-up on all approved, pre-approved and pending loan applications to maximize disbursement volume; withdraw expired applications.
• Request purchase order documentation and ensure proper insurance coverage on all secured auto loans. Prepare collateral documentation for all secured loan transactions to ensure that the Credit Union's interests are promptly and properly secured; forward auto packets and titles to Loan Servicing for further processing.
• Research and acquire collateral value for all secured auto, boat, airplane, RV and motorcycle loans; determine and notate value in the loan processing system and loan-to-value ratio in processing comments. Educate members about the features and benefits of the Credit Union's Payment Protection products, including credit life and credit disability insurance, GAP (Guaranteed Asset Protection) and MRC (Mechanical Repair Coverage); prepare estimates and complete policies through CUNA Mutual Group. Collaborate directly with Card Services to ensure proper processing of new credit card accounts and credit limit increases.
• Encourage adoption of automatic payment options; accurately set up automatic payment options to ensure timely payments.
• Grant lending authority for credit cards up to $25,000, once the representative has been in the position for one year, has demonstrated a solid background in analyzing and making recommendations of members' applications and as deemed merited by management through Credit Committee.
For internal purposes, this position is graded as NE - 6.
The anticipated annualized base salary range for this position is $50,000to $62,000. Final base salary for this role will be based on the individual's job-related experience, skillset, training, certifications and market demands. The benefits available for this full-time position include but are not limited to: medical, dental, and vision insurance, 401(k) plan, life insurance coverage, disability benefits, tuition assistance program and paid time off, including paid parental leave benefits. In addition to base compensation salary, this role position is eligible for an annual incentive plan.
Requirements
Minimum Qualifications:
Education:
• Associates Degree in related field or equivalent combination of Education and Experience.
Experience:
• Minimum 2 years prior banking experience
• A strong and proven commitment to the Credit Union's IMPACT Philosophy
• Well developed communication and member relations skills
• Proven ability to organize and prioritize tasks in a fast paced environment
• Proficient in Computer software programs