Underwriter (P/C) jobs in Wilmington, DE

Description

POSITION PURPOSE

The Underwriter assists the Underwriting Department by reviewing, analyzing and decisioning loan applications for all Del-One consumer loan products. The Underwriter is responsible for the daily operations of the Underwriting Department and works to achieve its goals by exercising discretion and independent judgment in approving credit exception requests within assigned authorities, answering questions from teammates, handling escalations from the branches and dealers, and monitoring the lending queue to ensure sufficient processing of all lending applications. The Underwriter performs quality reviews on funded loans and assists the branch staff with lending related questions and provides exceptional member service to Del-One members and external dealer partners.

Requirements

ESSENTIAL FUNCTIONS AND BASIC DUTIES

Assumes responsibility to assist in the workflow through the Underwriting Department to include reviewing applications, ensuring that exceptions are well documented and stays abreast of all policies and procedures.

• Makes sound credit decisions on all loan applications consistent with Del-One’s credit policy, lending laws and regulations. Makes decision recommendations to a Senior Underwriter or Director of Lending on applications which are high risk or outside lending policy.
• Ensures that all applications are decisioned in a timely manner and in accordance with Del-One’s established service standards and lending regulations.
• Reviews, maintains, and updates procedures. Ensures procedure and policy manuals adhere to compliance and regulatory standards. Makes recommendations for changes to lending policy.
• Leads teammates by example by consistently modeling standout performance and focus on Member Advocacy; instructs staff regarding policy, procedure, and program changes.
• Able to perform multiple time sensitive tasks with the ability to prioritize.
• Possesses a high level of flexibility and willingly completes other duties and special projects as assigned.
• Complies with all Credit Union policies and procedures including those related to Bank Secrecy Act regulations.

Assumes responsibility for establishing and maintaining effective communication and coordination with Credit Union personnel and with management.

• Assists and supports Credit Union personnel as needed. Answers questions of personnel regarding policies and procedures.
• Provide assistance to other Del-One employees, the general membership, dealer partners and third-party vendors as needed.
• Keeps management informed of area activities and of any significant problems.
• Attends and participates in meetings and committees as required.
• Completes required reports and records.

Assumes responsibility for establishing and maintaining professional working relations with members and external lending professionals and governmental agencies.

• Answers questions and resolves problems.
• Conveys correct information regarding lending policies and procedures.
• Maintains the Credit Union's professional reputation.

Assumes responsibility for related duties as required or assigned.

• Maintains and updates knowledge of lending requirements and policies.
• Prepares and distributes reports as needed.
• Stays informed of modifications and updates in software applications.
• Completes special projects as assigned.
• Keeps work area clean, secure, and well maintained.
• Provides suggestions for improvements in lending policies and procedures.

PERFORMANCE MEASUREMENTS

• Loans are reviewed in a timely manner and approved in accordance with applicable legal, regulatory, and program requirements and with established policies and procedures.
• Members' credit worthiness is thoroughly and accurately analyzed.
• Credit Union assets are protected, closed loans are marketable, and lending practices are safe and sound.
• Required documentation is complete and accurate.
• Professional business relations exist with members and external professionals. Assistance is provided as needed.
• Effective working relations and good communication exist with Credit Union personnel.
• Management is appropriately informed of area activities. Reports are complete and timely.

QUALIFICATIONS

Education/Certification:

• High school graduate or equivalent
• College degree preferred
• Additional coursework in business or related field acceptable
• Must be eligible for registration with the National Mortgage Licensing System

Required Knowledge:

• Knowledge of financial statements, credit reports, tax returns, and appraisals.
• Knowledge of Credit Union lending programs, policies, procedures, and standards.
• Able to use all related computer applications.

Experience Required: Underwriting experience is required. Three to Five years’ experience is preferred.

Skills/Abilities: Extensive knowledge of credit analysis and federal lending regulations required. Ability to manage multiple tasks and deadlines simultaneously. Ability to pay close attention to detail and work well under pressure. Ability to adapt well to change. Excellent communication and member service skills required. Working knowledge of Microsoft Office applications is preferred.

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.)

WORKING CONDITIONS

None: No hazardous or significantly unpleasant conditions (such as in a typical office).

MENTAL ACTIVITIES AND REQUIREMENTS OF THIS POSITION

Reasoning Ability:

• Ability to deal with a variety of variables under only limited standardization.
• Able to interpret various instructions.

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 a variety of books, magazines, instruction manuals, atlases, and encyclopedias.
• Ability to prepare memos, reports, and essays using proper punctuation, spelling and grammar.
• Ability to communicate distinctly with appropriate pauses and emphasis; correct punctuation (or sign equivalent) and variation in word order; using present, perfect, and future tenses.

INTENT AND FUNCTION OF JOB DESCRIPTIONS

Job descriptions assist organizations in ensuring that the hiring process is fairly administered and that qualified employees are selected. They are also essential to an effective appraisal system and related promotion, transfer, layoff, and termination decisions. Well constructed job descriptions are an integral part of any effective compensation system.

All descriptions have been reviewed to ensure that only essential functions and basic duties have been included. Peripheral tasks, only incidentally related to each position, have been excluded. Requirements, skills, and abilities included have been determined to be the minimal standards required to successfully perform the positions. In no instance, however, should the duties, responsibilities, and requirements delineated be interpreted as all inclusive. Additional functions and requirements may be assigned by supervisors as deemed appropriate.

In accordance with the Americans with Disabilities Act, it is possible that requirements may be modified to reasonably accommodate disabled individuals. However, no accommodations will be made which may pose serious health or safety risks to the employee or others or which impose undue hardships on the organization.

Job descriptions are not intended as and do not create employment contracts. The organization maintains its status as an at-will employer. Employees can be terminated for any reason not prohibited by law.