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Consumer Loan Underwriter

Corporate Office (Central Park)

Pay Range: $30.66 - $36.73

Remote Eligible: Hybrid

We offer a pay-for-performance compensation program including bonuses for all employees and a competitive benefits package. See https://www.cuofco.org/careers for a high-level overview of our benefits package and bonus offerings.

General Purpose of the Position 

The Consumer Loan Underwriter is responsible for reviewing, analyzing and making sound credit decisions on direct and indirect loan applications. This role requires creative decision-making and thinking outside the box to find solutions that benefit both the member and the credit union. Strong communication skills are essential to collaborate with internal teams and external partners including auto dealers to find the best solution for our members.  This role must effectively manage high volumes of loan applications, maintaining a balance between efficiency, accuracy and risk mitigation while meeting service standards.   

ESSENTIAL DUTIES AND RESPONSIBILITIES (includes the following) 

  • Review and analyze direct and indirect applications for auto loans, personal loans and other consumer lending products.  
  • Evaluate credit reports, debt to income ratios, unsecured debt ratios, payment to income, collateral and other relevant information to determine credit worthiness.    
  • Review, calculate and notate income verification.  
  • Approve, deny, or counteroffer loans working within credit union policies and regulatory guidelines.  
  • Provide creative solutions and alternative options for members who may not meet standard loan requirements.  
  • Effectively manage loan queues and application volume to ensure timely loan decisions are within service level agreements.  
  • Prioritize time-sensitive requests from internal teams, members and dealerships.  
  • Communicate in a professional and courteous manner.  
  • Provide clear explanation of loan decisions and guidance to internal teams and dealers offering alternative solutions when applicable.  
  • Communicate with member advocates and lending team as needed to ensure that loan decisions are in the best interest of the member and credit union. 
  • Identify and mitigate potential risks in loan applications including fraud, misrepresentation, credit risk and collateral risk.  
  • Identify and clear consumer statement alerts on credit bureau.  
  • Respond to dealer calls regarding loan application status, underwriting requirements, and decisions, providing clear and prompt communication to foster strong dealer relationships.  
  • Maintains positive and productive relationships with indirect dealers.  
  • Participate in regular training and stay informed of changes in underwriting practices, credit union policies and procedures.  
  • Provide feedback and recommendations to improve the underwriting process and collaborate with lending leaders to refine lending guidelines and procedures as necessary.  
  • Documents loan decision and require provisions necessary to complete the loan. 
  • Keeps the leader informed of area activities and of any significant problems. 
  • Work closely with Senior Underwriters and Lending leadership regarding any loan recommendations where policy exceptions or lending authority is outside of set limits. 
  • Prepare correspondence adverse action letters as required within credit union policy and federal regulations. 
  • Performs administrative and support tasks to complete the decision process when necessary. 
  • Participates in Consumer Lending Quests by clearly explaining the underwriting process and rationale behind lending decisions.  
  • Conducts thorough testing of changes within lending origination system. 
  • Practice confidentiality and be able to work well under pressure. 
  • Provides excellent service by demonstrating courtesy and personal concern for members and co-workers' needs and follows-up to ensure those needs are met. 
  • Adhere to all Federal and State laws and regulations applicable to the credit union, including the Bank Secrecy Act and OFAC. 
  • May perform other duties as requested or assigned. 

 

Requirements 

EDUCATION AND EXPERIENCE 

High school diploma or equivalent (GED), plus a minimum of two years lending (underwriting) experience with direct and indirect consumer loans within a financial institution. 

PHYSICAL DEMANDS 

While performing the duties of this job, the employee is typically required to sit for long periods.  The employee continually is required to talk or hear. The employee is occasionally required to stand, walk, stoop and reach with hands and arms. The employee will occasionally lift and/or move up to 20 pounds.  Specific vision abilities required by this job include close vision and the ability to adjust focus.  Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.   

Core Competencies 

Every position at Credit Union of Colorado is grounded in our organizational Values and Core Competencies. These skills and behaviors guide how we work, collaborate, and deliver results. Click here to view our Values and Core Competencies on Atlas. 

Credit Union of Colorado is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex (including pregnancy, childbirth, or related medical conditions), sexual orientation, gender identity or expression, national origin, age, disability, genetic information, marital status, veteran status, or any other characteristic protected by applicable federal, state, or local laws. 

Please note applicants can redact any information that identifies their age, birth date, or dates of schooling on either their resume or any additional materials provided.

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