Position Title: Credit Analyst Department: Underwriting
Classification: Exempt Approved By: Human Resources
Position Reports To: Consumer Lending Manager
Positions Supervised: None
Responsible for reviewing and underwriting loan applications. Identifies, analyzes, and evaluates loan risks and compensating factors, and ensures the safety of Credit Union assets. Approves, counter offers, or denies loan applications. Ensures loans are approved within the terms of the Credit Union's standards and procedures, and regulatory underwriting guidelines. Presents loan requests above lending limit for approval as per loan policy. Provides support to Member Service personnel. Ensures members and prospective members are promptly and professionally served. Provides general Credit Union information and identifies and cross sells appropriate products and services. Assists with loan collection efforts as needed.
ESSENTIAL FUNCTIONS AND BASIC DUTIES
1. Assumes responsibility for accurately evaluating the credit worthiness of potential borrowers.
a. Evaluates applicant's employment history. Ensures that the probability of continued employment is good. Evaluates likelihood of job tenure. Assesses overtime, bonuses, and commissions used to qualify. Analyzes tax returns and balance sheets of self-employed applicants.
b. Evaluates the adequacy of the applicant's income and the probability that the member will be able to meet expected financial obligations.
c. Assesses potential borrower's assets. Ensures that assets meet closing requirements are derived from acceptable sources, and that acceptable levels of reserves will remain after closing.
d. Reviews borrower's credit. Reviews the manner in which obligations have been met and financial affairs managed. Investigates derogatory credit. Ensures that debts are appropriately listed and rated.
e. Completes all underwriting functions in accordance with various program requirements, Credit Union standards, and related legal and regulatory requirements.
f. Evaluates and assesses the collateral used for security on loan requests.
2. Assumes responsibility for establishing and maintaining effective communication and coordination with Credit Union personnel and with management.
a. Assists and supports Credit Union personnel as needed. Answers questions of Member Service personnel regarding policies and procedures.
b. Keeps management informed of area activities and of any significant problems.
c. Attends and participates in meetings and committees as required.
d. Completes required reports and records.
3. Assumes responsibility for establishing and maintaining professional working relations with members and external lending professionals and governmental agencies.
a. Answers questions and resolves problems.
b. Conveys correct information regarding loan policies and procedures.
c. Maintains the Credit Union's professional reputation.
4. Assumes responsibility for related duties as required or assigned.
a. Maintains and updates knowledge of underwriting requirements and policies.
b. Completes special projects as assigned.
c. Keeps work area clean, secure, and well maintained.
d. Provides suggestions for improvements in underwriting policies and procedures.
1. Loans are reviewed and approved in accordance with applicable legal, regulatory, and program requirements and with established policies, procedures and lending authority.
2. Members' credit worthiness is thoroughly and accurately analyzed.
3. Credit Union assets are protected, closed loans are profitable, and lending practices are safe and sound.
4. Professional business relations exist with members and external professionals. Assistance is provided as needed.
5. Effective working relations and good communication exist with Credit Union personnel.
6. Management is appropriately informed of area activities. Reports are complete and timely.
Enthusiasm & Positivity: One’s own sense of pride and a positive attitude within the workplace/openness to being part of a team.
Creating Partnerships: Creating collaborative relationships based on trust, and mutual understanding to achieve shared goals.
Creativity & Adaptability: Finding creative solutions, supporting innovation and improvement opportunities and willing to be agile.
Commitment to Learning & Growth: Growing your knowledge and skill sets to meet and exceed the expectations of your position and our organization.
Integrity & Ethics: Serving our members and work partners honestly while upholding compliance, fairness and cultivating relationships based on trust.
This position requires registration under the National Mortgage Licensing System (NMLS) as a Mortgage Loan Officer (MLO).
Education/Certification: Bachelors degree or equivalent combination of education and experience is required.
Knowledge of financial statements, credit reports, tax returns, and appraisals.
Full understanding of underwriting requirements.
Ability to make strong lending decisions by following loan policies and procedures.
Knowledge of Credit Union lending programs, policies, procedures, and standards.
Able to use all related computer applications.
One plus years experience in consumer lending or equivalent combination of education and experience.
Ability to identify risks and structure loans accordingly.
Ability to identify members’ needs, utilizing working knowledge of the credit union’s products and services, and capture appropriate cross-sell opportunities to refer to a Member Services Consultant.
Ability to function successfully in a fast-paced environment, including the need to multi-task, with frequent changes in circumstances.
Excellent communication and member service skills.
Ability to work in stressful, high pressure situations.
Solid analytical and negotiating skills.
Sound credit judgment.
Ability to operate related computer applications and related business equipment.
Good organizational skills and attention to detail.
PHYSICAL ACTIVITIES AND REQUIREMENTS OF THIS POSITION
Talking: Especially where one must frequently convey detailed or important instructions or ideas accurately, loudly, or quickly.
Average Hearing: Able to hear average or normal conversations and receive ordinary information.
Repetitive Motion: Movements frequently and regularly required using the wrists, hands, and/or fingers.
Average Visual Abilities: Average, ordinary, visual acuity necessary to prepare or inspect documents or products, or operate machinery.
Physical Strength: Sedentary work; sitting most of the time. Exerts up to 10 lbs. of force occasionally. (Almost all office jobs.)
None: No hazardous or significantly unpleasant conditions (such as in a typical office).
MENTAL ACTIVITIES AND REQUIREMENTS OF THIS POSITION
Reasoning Ability: Ability to apply logical or scientific thinking to define problems, collect data, establish facts, and draw conclusions.
Able to interpret a variety of technical instructions and can deal with multiple variables.
Mathematics Ability: Ability to compute discount, interest, profit, and loss; commission markup and selling price; ratio and proportion and percentage.
Able to perform very simple algebra.
Language Ability: Ability to read periodicals, journals, manuals, dictionaries, and thesauruses.
Ability to prepare business letters, proposals, summaries, and reports using prescribed format and conforming to all rules of punctuation, grammar, diction, and style.
Ability to conduct training, communicate at panel discussions and make professional presentations.