Loan Officer

Job Description

Job Description

Salary:

The Loan Officer is responsible for underwriting quality consumer loans in compliance with applicable laws, regulations, and credit union policies. This role includes providing accurate and timely responses to members regarding loan decisions, as well as gathering necessary documentation to ensure complete loan packages. The Loan Officer is expected to generate quality loans that meet the needs of both the credit union and its members.

In addition to lending responsibilities, this position plays a key role in delivering exceptional member service. The Loan Officer promotes credit union products and services while ensuring all interactions are handled in a friendly, timely, and professional manner.

Responsibilities

• Lending & Underwriting
• Interview members, provide guidance on consumer lending options, and complete accurate loan applications.
• Analyze loan applications, credit reports, collateral, financial statements, and supporting documents to make sound and consistent lending decisions within assigned authority.
• Calculate debt-to-income ratios, assess collateral valuation, and determine overall loan quality.
• Administer loan documentation and creditworthiness reviews to ensure timely and compliant loan closings.
• Manage indirect lending activities by analyzing applications submitted through dealerships, funding approved loans, and reaching out to members directly to resolve questions or documentation issues.
• Communicate and troubleshoot issues within the indirect lending platform to ensure smooth processing and member satisfaction.
• Collaborate with management to strengthen dealer relationships and increase participation in the credit unions indirect lending program.
• Identify and pursue opportunities for cross-selling additional credit union loan products and services.
• Compliance & Risk Management
• Stay current with lending and collection regulations, ensuring all activities comply with applicable laws and credit union policies.
• Maintain working knowledge of regulations including Reg B, Reg Z, Reg CC, the Fair Credit Reporting Act, the Bank Secrecy Act, the Patriot Act, Anti-Money Laundering requirements, and SAFE Act guidelines.
• Uphold all Jefferson Credit Union policies and procedures while safeguarding member and credit union interests.
• All other duties as assigned by management.

Required Qualifications

• High school diploma or equivalent; associate or bachelors degree in Finance, Business, or related field preferred.
• 13 years of experience in consumer lending, underwriting, or related financial services.
• Working knowledge of loan origination systems, credit analysis, and indirect lending processes.
• Familiarity with compliance and regulatory standards including Reg B, Reg Z, FCRA, BSA/AML, and SAFE Act.
• Strong financial analysis skills with ability to calculate debt-to-income ratios and assess collateral values.
• Excellent communication and interpersonal skills with a professional, member-focused approach.
• Proficiency with Microsoft Office and ability to learn new software quickly.
• Highly organized and detail-oriented, able to manage multiple applications and deadlines.

Preferred Qualifications

• Bachelors degree in Finance, Business Administration, or related field.
• 3+ years of experience in a credit union or community banking environment.
• Experience with indirect lending platforms and direct communication with dealerships.
• Established understanding of risk-based lending and consumer loan portfolio management.
• Demonstrated success in cross-selling financial products and services.