Consumer Credit Analyst III
Consumer Credit Analyst III is responsible for performing risk analysis for complex secured and unsecured consumer loans. The Credit Analyst reviews, analyzes, and evaluates consumer loan applications and based on their judgment approve, modify or deny consistent with credit union guidelines. Consumer Credit Analyst III must clearly document and communicate the reasoning for their decision. Maintain and strengthen relationships with members, and internal/ external originators. A Credit Analyst III will mentor less senior analysts and be prepared to assist in more complex credit decisions or approve transactions outside of other's lending authority. Maintain a thorough understanding of the credit union's underwriting standards, risk philosophy, credit culture and market conditions. Exhibits good leadership ability.
TASKS, DUTIES, FUNCTIONS:
- Review, analyze, and evaluate loan applications based on established credit union policies and apply knowledge of underwriting procedures and risk mitigation techniques to approve, counter, or deny consumer loan applications by:
- Review and ensure the transaction is accurate, complete and compliant.
- Analyze credit history to determine propensity for repayment.
- Analyze income and financial statements to determine ability to repay.
- Evaluate required documentation for accuracy and truthfulness.
- Apply fraud detection and prevention techniques.
- Utilize the credit reports to calculate key lending ratios to determine capacity, credit utilization, and Loan to Value. Ensure application request are in line with credit union guidelines, identify mitigating factors and render judgmental decisions within their designated loan authority.
- Maintain a thorough understanding of state and federal laws and regulations related to credit union compliance- including bank secrecy, anti-money laundering, Fair Lending and Truth in lending laws appropriate to the position.
- Responsible for receiving and initiating escalated phone inquiries and must communicate and interact with originator and external business partners to provide information or reasoning regarding loan decision.
- Effectively address and resolve all complaints or issues raised by members, internal staff and business partner.
- Gather information, perform analysis, and prepare reports as directed by management.
- Assist with training originators regarding lending policies, process or procedures, administering lending promotional campaign.
- Make recommendations and assist with updating product, policy and procedure materials pertaining to consumer lending.
- Assist in the preparation of training and/or lending presentation.
- Train personnel on lending policies and procedures. Provide work direction, feedback and training to less experienced staff. Mentor others in credit decision making and department procedures and policies.
- Perform upgrade validations pertaining to lending systems. Understand the use of the automated loan origination system and recommend efficiency improvement.
- May act as a team lead and provide performance feedback to less senior consumer credit analyst.
- May act as a backup in absence of Supervisor.
- Perform other Lending duties as assigned.
PHYSICAL SKILLS, ABILITIES, AND EXERTION UTILIZED IN THE PERFORMANCE OF THESE TASKS:
- Effective oral and written communication skills required to interact with staff, and members to perform constructive follow up on member loan requests, inquiries, and concerns.
- Must possess sufficient manual dexterity to skillfully operate an on-line computer terminal and other standard office equipment, such as financial calculators, personal computer, facsimile machine and telephone.
- Ability to work required hours which may include weekend shifts and work hours after 6:00 p.m.
- Some travel may be required.
ORGANIZATIONAL CONTACTS & RELATIONSHIPS:
- INTERNAL: Management group and all levels of staff.
- EXTERNAL: Members and external originators.
- EDUCATION: Successful completion of High School curriculum is required. Associates degree is preferred.
- EXPERIENCE: Minimum 7 year in consumer lending, in a judgmental lending environment where LOS is used as a guide to make decisions and 4 years of experience reviewing, analyzing, evaluating loan applications and rending judgmental decisions.
- Strong analytical, organizational skills and attention to detail. Ability to calculate figures and amounts.
- Ability to use logical reasoning when interpreting facts and make objective observations, examinations, evaluations and recommendations.
- Remain knowledgeable on key trends in the financial services industry that impact loan quality and underwriting.
- Solid interpersonal, oral and written communication skills to build and maintain professional relationships with originator and members.
- Good leadership abilities.
- Extensive knowledge of consumer loan underwriting, credit analysis and reporting.
- Possess a high degree of integrity to use judgment to make appropriate and fair lending decisions on behalf of the credit union.
- Comprehensive understanding of both branch and indirect credit union lending policies.
- Ability to sell and promote product lines, and back up lending decisions in a way that enhance originator relationships.
- Time and queue management skills to effectively prioritize multiple objectives.
- Intricate understanding of regional lending market conditions and collateral values.
- Understand the use of the automated loan origination system. Operate on standard Microsoft programs and other computer operations.
- Stay up to date on changes within the department, organization, industry and current market conditions.
- Must work well in a fast paced and flexible production oriented department.
- Analytical skills to include reviewing and understanding complex paystub and personal and corporate tax return documents.
- Prolonged sitting throughout the workday with occasional mobility required.
- Corrected vision within the normal range.
- Hearing within normal range. A device to enhance hearing will be provided if needed.
- Occasional movements throughout the department daily to interact with staff, accomplish tasks, etc.
- Must be flexible with scheduling, including evenings, weekends, and holidays.