Job Abstract

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 as well as a full-service Lending Center near Farragut West metro station.

Summary:

Originate all BFSFCU real estate loan products. Collaborate with realtors and contacts to develop referral relationships. Counsel members regarding BFSFCU products and services offered, and cross-sell loan products to members in an effort to add value and provide full financial services.

Responsibilities:

• Accept applications and interview members applying for first mortgage and equity loans from BFSFCU. Counsel and advise members with regard to their financial activities, explaining the different financing options available through the Credit Union. Review applications, credit reports and income verifications to ensure compliance with Credit Union and investor lending policies, guidelines and credit standards. Review all assigned applications to ensure compliance with Credit Union and investor guidelines and credit standards.
• Review and submit pre-approval requests to underwriting for review.
• Submit complete loan application package for processing.
• At the direction of the Manager, Loan Originations provides shadowing, on the job training, and consultation for all Loan Origination staff. Ensuring a consistent and successful transfer of job knowledge.
• Sells and cross-sells products and services while talking with members. Achieves individual sales goals.
• Explain Mortgage Lock-in procedure and Options. Lock member into requested program.
• Responds to written, in-person, Glia chat, e-mail and telephone inquiries from members concerning Credit Union consumer and mortgage loan products.
• Handles complex loan issues, complaints and various problems that members may have with the loan process, information requested, property requirements, interest rates and points, secondary market policies, underwriting criteria, etc.
• Discusses loans with members immediately following denial decision. Advises members of corrective measures and additional lending options and other alternatives if available.
• Acquires and maintains a strong knowledge of all Credit Union products and services, in order to identify and meet the needs of our members, during the evaluation stage of our service IMPACT program.
• Prepare all initial federally regulated disclosures on mortgage loans. Ensuring that the borrowers receive these documents along with necessary federal brochure within three days of receipt of an application.
• Achieves individual sales goals. Creates and maintains a Service IMPACT Culture by cross-selling to enhance and secure customer relationships. Uses needs-based selling to meet members’ financial objectives and refers sales opportunities to other departments, when appropriate.
• Summarizes and documents all member interactions in the Customer Relationship Management (CRM) system and handles all documents in accordance with Credit Union procedures.
• Maintain effective communication with all Credit Union employees to ensure coordination and exchange of information to accomplish Credit Union goals.
• Must be able to obtain and maintain registration with the National Mortgage Licensing System (NMLS). Maintenance of their unique identifier number includes applying for an annual recertification through the NMLS database.
• Successfully participate in annual Information Security refresher training. Comply with the Information Security Policy, including the immediate reporting of unusual or suspicious activity to management and the Information Security Officer. Follow all procedures to protect company computers from viruses, and to maintain the security and confidentiality of Credit Union data.
• Participate in annual Bank Secrecy Act (BSA) and Office of Foreign Assets Control (OFAC) training and demonstrate knowledge and understanding of the BSA and OFAC, including the immediate reporting of unusual or suspicious activity to the Risk Management Department. Undertake additional training specific to daily responsibilities and as required to ensure continued compliance with all applicable regulations.
• Ensure the Credit Union’s safe harbor protections as allowed by the BSA. Understand that if confronted with knowledge of existence of a Suspicious Activity Report (SAR), an obligation exists to preserve the confidentiality of that SAR, as well as any information that may reveal the existence of a SAR. Maintain awareness of, and immediately report to the Compliance Officer, any unauthorized disclosure of a SAR, or unauthorized disclosure of information related to a SAR. Understand that failure to do so is a violation of federal law and may lead to both civil and criminal penalties for SAR disclosure violations.
• Demonstrate commitment to the Credit Union’s Service IMPACT philosophy.
• Follows security procedures regarding securing members’ identities prior to discussing account information, clearing desk-tops at the end of each business day, the proper disposal of personal information for the prevention of identity theft.
• Undertakes other work-related duties as assigned by the Manager, Loan Originations.

Minimum Qualifications:

Education:

• B.S. Degree in related field or equivalent combination of Education and Experience
• Must be eligible to register with the Nationwide Mortgage Licensing System & Registry (NMLS) and must maintain registration with NMLS as a registered Mortgage Loan Originator (MLO).

Experience:

• Five to Seven years lending experience
• Prior Banking Experience preferred
• Strong understanding of Credit Union’s loan products and services
• Recent loan officer or underwriting experience that adheres to recent regulatory changes is required
• Knowledge of IMC, OSI and Relationship Manager
• Well-developed communication and member relations skills
• Proven ability to organize and prioritize tasks in a fast-paced environment
• Impressive business writing skills
• Strong problem-solving abilities with the ability to think independently

For internal purposes, this position is graded as NE-12