Consumer Loan Underwriter
- Employer
- Alerus Financial
- Location
- Minnetonka, Minnesota
- Salary
- Join our team!
View more
- Industry
- Financial Services and Banking
- Role
- Banking / Loan
- Job Type
- Long-Term
- Hours
- Full Time
Job Details
This position is responsible for underwriting all consumer and/or indirect loan products following underwriting guidelines, loan policy and regulatory compliance. This individual decisions consumer loan requests, evaluates loan structures, determines appropriateness of allowing underwriting guideline exceptions or overrides, and provides customer centric credit solutions while managing credit risk. Credit decisions are made within individual lending authority or by endorsing approvals for decisions that require manager approval or loan committee approval. This position will also work with loan operations teams to ensure a seamless, end-to-end process from application to booking. As assigned to indirect lending, this position will also interact with car dealerships and work evening and weekend shifts.
Essential Responsibilities:
Job Function 1: Loan Underwriting - 90%
- Monitor application system for receipt of new credit applications and determine appropriate prioritization.
- Work with Relationship Bankers to determine appropriate loan products to match loan applicant's financing needs and repayment sources and timing.
- Review all application documentation (income, debt and collateral documentation) and determine if additional documentation is required in order to underwrite the application. Verify completeness of application packet or mark incomplete accordingly.
- Identify any misfiled documentation in the company's electronic imaging system and take corrective filing action.
- Formulate credit decision (approve, decline or counteroffer) in compliance with individual lending authority, established underwriting guidelines, compliance and regulatory requirements.
- Obtain proper approval for loan and communicate credit decision. If necessary with counter-offers and declines or other credit opportunities, identify potential new lending opportunities and suggest solutions.
- Responsible for ensuring that consumer loans are policy compliant and that exceptions or overrides are properly approved, documented and tracked.
- Adhere to service level agreements.
- Partner with Relationship Bankers to manage notes maturing reports, past due reports and cure ticklers.
- Answer credit questions and resolve problems raised by Relationship Bankers and Loan Operations
- Provide adequate underwriting coverage and backup for peak needs, vacations etc.
Job Function 2: Consumer Lending Development - 5%
- Work with manager to develop and implement new consumer loan products and promotions.
- Provide input in lending business plans relative to direct consumer and indirect lending.
- Support the development of strategies and product promotions to meet annual growth targets.
- Review competitor offerings relative to company product offerings.
Job Function 3: Training and Compliance - 5%
- Understand and adhere to compliance requirements.
- Successfully complete all required training and compliance courses.
- Respond to directed audit, exam or compliance findings.
- Attend monthly Financial Guide meetings as necessary to keep them updated on product changes and promotions.
- As assigned to indirect lending, communicate and meet with dealerships to provide value added service and understand their needs.
Position Requirements:
Qualifications:
- Bachelor's degree in finance, business, and accounting or other applicable area or equivalent education and job experience.
- One or more years of experience in financial services industry preferred.
- Strong analytical skills with a demonstrated ability to solve financial situations.
- Strong technical aptitude for learning systems and processes.
- Ability to effectively communicate, as well as choose appropriate form of communication as needed (written, verbal).
- Proven ability to prioritize and manage time effectively.
Personal Characteristics:
- Excellent interpersonal skills.
- Self-starter; able to work efficiently without direct supervision.
- Ability to stay calm and work well under pressure.
- Passionate about helping others.
- Professional attitude and appearance.
- Enjoys attention to detail, improving process.
Physical Demands: (must be met with or without a reasonable accommodation)
- Extended periods of time sitting at a desk and using office equipment.
- Ability to operate a personal computer/laptop for approximately 8 hours/day.
- Extended time is spent reviewing physical and electronic documents.
- The employee is occasionally required to stand, walk, reach with arms and hands, climb or balance, and to stoop, kneel, crouch or crawl. Vision abilities required by this job include close vision.
- Periodically, may also do light lifting of supplies and materials which weighs in at approximately 20 lbs.
- Will spend most of time in an indoor environment.
Alerus Financial is an Equal Opportunity Employer of women, minorities, protected veterans and individuals with disabilities.
Company
Alerus is a company that will challenge you to be at your best and where your efforts have real, tangible effects. Our culture is one of collaboration, innovation, forward-thinking, and giving back. And, as a growing company with a presence in markets from New Hampshire to Arizona, we offer a broad range of opportunities for you to travel the career path that matches your abilities, interests, and goals.
What is the current company culture like?
While our footprint spans North Dakota, Minnesota, Arizona, New Hampshire, and Michigan, we still operate like a small company. In other words, every single person on our team matters. Our employees create our culture.
What skills, education, and experiences does your ideal candidate(s) have? Each position has their own specific requirements and qualifications. In addition to those, Alerus seeks people who live out our fundamental beliefs every day: do the right thing, cherish people, empower with knowledge, respect everyone, serve with passion, and embrace change.
How would you describe the company leadership/team management? Alerus has a diverse executive and leadership team. Each leader comes with a wealth of experience and knowledge within their field to help their teams succeed. Alerus leaders, including our C*Suite executives, maintain regular communication with employees on company updates and goals.
Where do you see the company/organization in the upcoming years? Alerus has bank and office locations in North Dakota, Minnesota, Michigan, New Hampshire and Arizona. While we continue to serve our clients in these states we also look to grow our national footprint to best serve clients wherever they may live.
What do you feel candidates need to know about the company before applying? Alerus is more than just a bank and offers many products for our clients including personal & business banking, mortgages, wealth management and retirement savings. We continue to grow and expand but still maintain and operate with a small business feel. We would not have continued success without our employees and all the hard work they do to serve our clients with passion.
See the current Alerus job openings below!
- Website
- https://alerus.com/
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