Job Abstract

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 FOR POSITION: Monday - Friday 8am-4:30pm Saturday 8am-4:30pm Rotation.

SUMMARY OF POSITION:

The Consumer Loan Underwriter will be responsible for performing a thorough initial and/or second underwriting review to ensure compliance Tower Federal Credit Union policies, procedures and underwriting guidelines. The Consumer Loan Underwriter will have the authority to approve/deny/counter-offer consumer loans along with some exception loan authority, along with the ability to recommend policy exceptions to Management according to the Consumer Lending Loan Approval Authority Matrix.

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PRINCIPAL ACCOUNTABILITIES AND FUNCTIONS:

1. Performs a thorough underwriting review of all consumer loans to ensure compliance with Tower FCU policies and guidelines, all State and Federal regulatory.
   
   
2. Performs a thorough review of all consumer loans prior to clear to close and provides immediate feedback to the Consumer Loan Processor or Funder with any corrective measures to be taken prior to closing.
   
   
3. Underwrites and evaluates the risk on all consumer lending loan applications daily in accordance with established service and production levels in order to render a timely prudent underwriting decision.
   
   
4. Reviews and analyzes all information on the loan application matching it to the documentation in the loan file and data in the Loan Origination System (LOS).
   
   
5. Reviews and analyzes documentation obtained throughout the process in order to determine continuous loan eligibility and an update of the data in the LOS to ensure data integrity.
   
   
6. Obtains necessary lending authority approval when terms of loan are outside of underwriter’s lending authority level.

1. Participates in all required credit union compliance, product knowledge training and complies with government laws and regulations.

1. Follows established security measures to guaranty the confidentiality of Tower’s membership.

1. Complies with established service level agreements for member loan inquiries, explains loan underwriting decisions, and suggests alternatives products or services related to submitted loan requests for consideration.

1. Verifies and analyzes documentation received to include but not limited to credit report, paystubs, W-2s, personal tax returns, business tax returns, bank statements, retirement statements, property appraisals, and any other documents necessary to determine adherence to Tower FCU policies and

1. Effectively communicates and works in a team environment with other Consumer Loan Underwriters, Consumer Loan Processors, Consumer Loan Funders or other Tower team members.

1. Participates in the ‘buddy system’ within the Consumer Loan Underwriting teams.

1. Supports all consumer loan origination channels within the Consumer Lending Operations department.

1. Meets all training and proficiency requirements as outlined in the Consumer Lending Loan Approval Authority Matrix for Trainee up to Level II authority.

1. Demonstrates the ability to follow Tower procedures, polices, and guidelines when exercising up to Level II loan approval and exception authority according to the Consumer Lending Loan Approval Authority Matrix.

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REQUIRED QUALIFICATIONS:

• 2 year degree in business or a related field
• One to 2 years of progressively responsible credit union or lending experience. Education & experience requirements vary based on levels.
• Or, equivalent combination of education and work experience.

COMPETENCIES:

• Successfully demonstrated analytical decision making ability with attention to detail.
• Ability to learn and work in a fast paced environment.
• Ability to multi-task and prioritize work as required.
• Ability to effectively work with mathematical concepts with a high degree of accuracy.

• Ability to work and communicate effectively with Tower FCU members and other members of the Consumer Lending team.
• Ability to work independently and to identify/solve problems and to seek guidance when necessary and to resolve them in an expeditious manner.
• PC Proficient to include: Word, Excel, Outlook, internet, e-mail and loan origination software
• Ability to adapt to changes within internal, market or regulatory environments.

• Ability to exercise prudent judgment in decision-making and protection of member confidential information.
• Ability to arrive at work routinely and promptly.

• Ability to work within stringent time constraints and in a high pressure environment.
• Ability to receive constructive feedback from co-workers and management.
• Ability to work in a team environment and demonstrate the ability to help others.

• Ability to write operational reports, business correspondence and complete required loan origination forms.

• Ability to identify emerging problems in the loan origination process and resolve them in an expeditious manner.

• Ability to resolve problems and operational problems through effective interpersonal skills.
• Ability to effectively represent the credit union to members and third-party strategic partners.

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WORKING CONDITIONS:

• 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 15 lbs. with or without assistance.
• Ability to work the hours needed which may extend beyond the defined work schedule when operating conditions dictate
• TFO clearance