Consumer Loan Officer

OVERVIEW:

As a Consumer Loan Officer at City of Boston Credit Union, you will play a key role in the lending process by evaluating and underwriting consumer loan applications. Primary responsibilities will include assessing creditworthiness, ensuring compliance with lending policies, and making informed decisions to support the credit union's goals. The ideal candidate will possess a strong analytical mindset, attention to detail, and a thorough understanding of consumer lending practices.

Specific duties include, but are not limited to, the following:

• Loan Application Review: Evaluate consumer loan applications to determine creditworthiness and adherence to lending policies. Analyze credit reports, income documentation, and other relevant financial information.
• Risk Assessment: Assess the level of risk associated with each loan application. Make recommendations for loan approvals or denials based on established criteria.
• Compliance: Ensure compliance with federal, state, and local lending laws and regulations. Stay updated on changes in regulatory requirements and adjust underwriting practices accordingly.
• Communication: Collaborate with branch staff, members, and other stakeholders to gather additional information when necessary. Communicate underwriting decisions to relevant parties in a clear and timely manner.
• Documentation: Maintain accurate and thorough documentation of the underwriting process. Ensure that all required documentation is collected and retained in accordance with regulatory guidelines.
• Customer Service: Provide support to the all staff by offering insights into underwriting decisions. Address inquiries from members regarding the underwriting process professionally and courteously.
• Risk Mitigation: Identify potential risks associated with consumer loans and propose strategies for risk mitigation. Participate in the development and enhancement of underwriting policies and procedures.

REQUIREMENTS:

• Bachelor's degree in finance, business, or a related field or equivalent working experience.
• Five to seven (5 to 7) years’ experience as a consumer lending loan officer or similar role in a credit union or banking environment.
• Strong understanding of consumer lending practices, credit analysis, and risk assessment.
• Familiarity with loan origination systems and financial software.
• Excellent analytical and problem-solving skills.
• Attention to detail and a commitment to accuracy.
• Effective communication and interpersonal skills.

Job Type: Full-time

Benefits:

• 401(k)
• Dental insurance
• Health insurance
• Life insurance
• Paid time off
• Vision insurance

Payment frequency:

• Paid weekly

Work setting:

• In-person
• Office

Education:

• Bachelor's (Required)

Experience:

• Loan officer: 5 years (Required)

Ability to Commute:

• South Boston, MA 02127 (Required)

Ability to Relocate:

• South Boston, MA 02127: Relocate before starting work (Required)

Work Location: In person