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Indirect Loan Processor

Company: University of Kentucky Federal Credit Union
Location: Lexington
Posted on: November 22, 2021

Job Description:

Job DetailsJob Location Corporate Offices - Lexington, KY
Position Type Full Time
Education Level High School
--Job Shift Day
Job Category Banking

Description UKFCU is an equal employment opportunity employer and is committed to providing employment opportunities to minorities, females, veterans, and disabled individuals. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability or status as a protected veteran. UKFCU invites you to review the current "EEO Is the Law" poster as part of the application process. A link to the most current posters is . Please also see the 2015 Supplemental EEO Poster .

Applications are only accepted through our online application system. However, if you need assistance with any part of the application process or are unable to apply online because of a medical condition or disability and need an accommodation, please contact to let us know the nature of your request. Please note, UKFCU accepts only employment applications that are complete and received by the Office of Human Resources by the specified deadline for each opening.
_________________________________________________________________________________________________________ Title: Indirect Loan Processor Department: Loan Operations Reports to: Indirect Lending Manager FLSA: Non-exempt Job Grade: 7 Job Purpose: To provide service to the credit union by processing Indirect Vehicle Loan Applications submitted by the Dealers in a manner that ensures compliance with all appropriate laws and regulations Essential Job Results: JOB SPECIFIC RESULTS

  • Gathers information from the Dealer on potential Indirect Loan applications. Inputs the information into the Credit Union's data processing system. Once the information is submitted, it is forwarded to the underwriters for decision.
  • Communicates with the Dealers on any incomplete paperwork or missing items related to the loan and/or account and records in proper dealer tracking records.
  • Delivers decisions to the Dealers by informing them of approval, denial or counter offer in an expedient manner, explaining terms and conditions, documenting notes to files, accurately completing loan documentation, file notes and disbursements, completing adverse action requirements and exploring other options for members. Communicate and interact with department management and staff to provide information on loan status.
  • Ensures the Indirect Loan file is complete will all documentation by verifying the loan has been created correctly and all funding proceeds are properly balanced and all information is accurate on the data processing system. Ability to identify red flags and/or alerts in loan documentation in order to avoid potential fraud. Reviews all for accuracy.
  • Ensures all Indirect Accounts are created on the core processing system correctly and all documentation is timely, accurate, stored for permanent safe keeping and compliant per procedures.
  • Maintains effective working relationships with the Dealership F&I departments by communicating application decision, funding requests and all dealer concerns via all forms of communication.
  • Verifies the information provided by the Dealers per Indirect Lending procedures by calling members to authenticate the information provided on the credit application and documenting the verification results.
  • Maintains account records by updating member information as necessary.
  • When directly serving members, cross-sells credit union services by answering inquiries, actively informing members of new services and product promotions, ascertaining members' needs, directing members to other staff as appropriate.
  • Maintains member and employee confidence and protects operations by keeping information confidential and sharing on a business-related as-needed basis only.
  • Engages in problem resolution by clarifying the member's and/or employee's complaint; determining the cause of the problem; selecting and explaining the best solution to solve the problem; expediting correction or adjustment; following up to ensure resolution; and keeping the supervisor informed of problems and solutions.
  • Complies with UKFCU policies and procedures by enforcing and adhering to internal UKFCU procedures and board-established policies.
  • Complies with federal, state and local regulations and legal requirements by enforcing and adhering to requirements.
  • Maintains professional and technical knowledge by maintaining an awareness of competitors' rates and terms, industry trends and technology; attending staff meetings; identifying opportunities to attend seminars that enhance skills and maintain knowledge of new products that could assist in improving operational effectiveness; reviewing professional publications; establishing personal networks; benchmarking state-of-the-art practices; and participating in professional societies.
  • Contributes to a team effort by accomplishing corporate and individual goals and other related results as needed. Qualifications MINIMUM REQUIREMENTS
  • One year of similar or related experience.
  • High school diploma or equivalent.
  • Ten-key calculator, general PC and computer keyboarding experience.
  • Ability to communicate with others one-on-one, fielding questions and responding to complaints.
  • Strong, friendly voice and demeanor, good diction.
  • Ability to add, subtract, multiply and divide all units of measure using whole numbers, fractions and decimals with American currency, and to apply these concepts to practical solutions.
  • Ability to compute rate, ratio and percent with American currency, and to apply these concepts to practical solutions.
  • Ability to define problems, collect data, establish facts and draw conclusions while dealing with a variety of abstract and concrete variables.
  • Ability to write reports, correspondence and procedures.
  • Ability to work independently. PHYSICAL DEMANDS: The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. While performing the duties of this job, the employee is regularly required to sit and stand; use hands to finger, handle, or feel objects, tools, or controls; reach with hands and arms; and talk or hear. The employee frequently is required to walk and stand. The employee is occasionally required to stoop, kneel, crouch, or crawl. The employee must occasionally lift and/or move up to 25 pounds. Specific vision abilities required by this job include close vision, distance vision, color vision, peripheral vision, depth perception, and the ability to adjust focus. WORK ENVIRONMENT: The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. The employee will be required to work indoors in a climate controlled office setting. The noise level in the work environment is usually moderate. MENTAL DEMANDS: The mental characteristics necessary to competently perform this job include the occasional need to be persuasive, use good judgment; and, the continuous need to use auditory perception, memory, and reasoning ability. *The intent of this job description is to provide a representative summary of the types of results that will be required of the positions given this title, and shall not be construed as a declaration of the specific responsibilities of any particular position. Employees may be requested to perform job-related tasks other than those specifically outlined in this description. CategoryLoan Interviewers and ClerksEducationHigh School or EquivalentExperience1 to 20+ yearsJob typeFull time

Keywords: University of Kentucky Federal Credit Union, Lexington , Indirect Loan Processor, Other , Lexington, Kentucky

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