Consumer Lending Funder

Note:  All full-time positions include the option of $0 out-of-pocket premium cost for Employee Only PPO AND exceptionally low premiums for all other PPO coverage levels. 

Tower is offering a $1000 Signing/Retaining bonus as of 1/20/2024.  

Hours: Monday - Saturday 8:00am - 4:30pm.  Holidays and weekends as needed based upon volume

Hiring Range- $22.24/hr - $33.36/hr

SUMMARY OF POSITION: 

The Consumer Loan Funder (CLFU) is responsible for all duties pertaining to the timely and accurate closing of consumer loans and credit cards by coordinating closing with Consumer Lending Processors, and finalizing pre-approved checks and indirect vehicle loans and related packets. The CLFU works within well-defined guidelines and specific timeframes to facilitate processing of member loan applications to the funding stage. Follows well established policies, procedures and guidelines in performing these tasks.

PRINCIPAL ACCOUNTABLITIES AND FUNCTIONS:

1. Receives indirect vehicle loan packets from dealers, verifies completeness of packets, and verifies final loan structure is within original approved parameters and guidelines. Communicates missing documentation or other issues to dealer finance staff.

1. Receives pre-approved auto loan checks in for clearing, ensures all documentation from dealer and member has been received, and follows up with dealer and/or member as needed.

1. Receives consumer loan and credit card applications from Consumer Loan Processors, verifies all stipulations and required documentation has been received, and verifies application is within original approval parameters and guidelines. Verifies that all documentation for third party/auxiliary consumer loan products is complete, if applicable.

1. Opens new membership accounts, including verifying acceptable identification, ensuring proper funding of account and verifying membership eligibility through acceptable documentation.

1. Creates new consumer loans on member accounts, ensuring accurate payment and due dates, including advancing due dates as necessary based on next billing cycle.

1. Disburses loan proceeds to dealers via ACH or paper check. Calculates and disburses reserve payments, which may be based on loan amount and/or quality and quantity of paper. Ensures membership is funded from these proceeds if additional funds are not received at time of disbursement.

1. Documents all closed loans on appropriate spreadsheet. Balances GLs and prepares ACH file for indirect loan disbursements.

1. Communicates problems and conflicts that may arise through any channel to Management and Dealer Account Executive for expedited resolution. Responds promptly to dealer loan inquiries.

1. Administers keys and combinations to function as dual authority for access to vaults and negotiable instruments.  Responsible for ensuring dual control when such access is granted.

1. Maintains an awareness of security risks in the areas of member identification, membership eligibility and confidentiality.

1. Maintains a thorough knowledge of the credit union’s consumer loan products and procedures and regulatory guidelines in order to facilitate effective, compliant closing of loans.

1. Works with co-workers as a team member in analyzing and solving situations that may arise in the closing and funding process.

1. Checks work from other funders for accuracy, and coordinates transfer of paper loan documents to the Records department.

1. Performs related duties and assignments as requested.

REQUIRED QUALIFICATIONS:

• Graduation from high school or possession of a high school equivalency certificate.
• One to three years’ experience working in consumer lending, preferably in a closing function, with a working knowledge of consumer lending products and services.
• Or, an equivalent combination of education and experience.

COMPETENCIES:

• Ability to become proficient in the front-end and back-end operations and administration of the lending delivery and accounting systems.
• Ability to effectively work with mathematical concepts with a high degree of accuracy.
• Ability to operate a personal computer in an Internet environment, and effectively use: Microsoft Office applications (Word, Excel) and perform applications satisfactorily.

• Ability to operate a 10 key calculator.

• Ability to grasp and understand legal documents.
• Ability to grasp and understand operating procedures and standards of the Consumer Lending Originations department.

• Ability to communicate effectively in oral and written form.
• Ability to communicate work process issues to other members of the Consumer Lending team.

• Ability to compute rate, ratio, and percent. Ability to reconcile and balance transaction records.
• Ability to read, analyze and interpret procedure manuals (operational or technical).
• Ability to write routine reports, internal and external communications and procedural manuals.
• Ability to provide explanation or instruction in one-on-one situations either in person or over the telephone, concerning operational and technical issues.
• Ability to present ideas and concepts and respond to questions in one-on-one situations with dealerships, members, employees and vendors in person or over the phone.
• Ability to uncover inaccuracies in loan applications due to misrepresentation, fraud or data entry errors and to directly and tactfully address these inaccuracies.
• Ability to recognize and uncover objections and roadblocks to closing loans and effectively address resolve these issues, resulting in positive relationships and increased business.
• Ability to write effective, concise and complete correspondence to TFCU members on a daily basis.
• Ability to define problems, collect data, establish facts and draw valid conclusions.
• Ability to focus on detail and verify accuracy of numbers and text.
• Ability to interpret a variety of technical instructions in written, mathematical or diagram form.
• Ability to prioritize diverse job assignments and meet established deadlines.
• Ability to complete tasks with a high degree of accuracy and attention to detail.
• Ability to handle a multitude of tasks in a high stress loan environment.
• Ability to determine needs and serve others.
• Ability to respond to sensitive inquiries and complaints in a timely, effective manner.
• Ability to maintain sensitive and confidential information.
• Ability to provide constructive feedback to members concerning loan applications.
• Ability to determine needs and covey appropriate solutions to others.
• Ability to persuade others to consider alternative courses of action when appropriate.
• Ability to work well with colleagues and management.
• Has knowledge of and adheres to credit union policies and procedures and all regulations related to the Bank Secrecy Act, the USA PATRIOT Act and OFAC. 

WORKING CONDITIONS:

• Ability to sit for extended periods of time and demonstrate sufficient dexterity and vision to skillfully operate a variety of office equipment.
• Ability to periodically work overtime when operating conditions dictate.
• Ability to sit, stand and walk for extended periods and demonstrate sufficient dexterity and vision to operate a variety of office equipment.
• Ability to lift up to 20 lbs. with or without assistance.
• Ability to work the hours needed which may extend beyond the defined work schedule when operating conditions dictate
• TFO Security Clearance