Loan Officer - Richmond Branch (IL)

Position Summary:

The Loan Officer position is responsible for providing a superior member service experience during the consumer loan application process and when responding to member transaction requests. The Loan Officer plays a pivotal role in helping members achieve their financial goals by guiding them through the consumer loan process. Loan Officers respond to member requests for consumer loans and recommend additional products and services that elevate the member's financial wellbeing and perform these tasks with accuracy and efficiency. This role requires a strong understanding of lending regulations, excellent communication and sales skills, and a commitment to providing superior member service. The position requires the ability to work during branch hours, including Saturdays, and supporting other locations to meet needs across the branch network. Full-time branch employees are scheduled up to 40 hours per week.

Work Arrangement: This position is able to work onsite at our Richmond branch (IL).

Schedule:

• This position requires working a standard 40 hour week during Branch hours of operations
  
  
  
  • Monday - Thursday 8:00am - 5:45pm
  • Friday 8:00am - 6:15pm
  • Rotating Saturdays 8:00am - 1:15pm
  
  
  
  
• Employees work every other Saturday and receive a consistent day off during the week to offset their hours
• Scheduled hours could change based on business need and future department growth.

An offer of employment with MSU Federal Credit Union and affiliates is contingent upon the agreed work arrangement (onsite/hybrid/remote) and work location. MSU Federal Credit Union may or may not be able to accommodate temporary or permanent changes to work arrangements or allow employment outside the city and/or state of residency in which the new hire resides at the time of offered employment.

Essential Duties & Responsibilities:

Loan Officer I:

• Provide superior member service by responding positively to lending and account inquiries with urgency, processing transactions and applications accurately and efficiently, personalizing interactions with recommendations of products and services specific to members' unique needs.
• Interview consumer loan and Visa applicants while providing information on products and services that best meet the applicant's needs. Request, verify, and deliver all appropriate documentation to the underwriting department.
• Analyze and interpret credit reports to assess financial risk and provide thorough information to inform lending decisions, ensuring compliance with relevant regulations and company policies.
• Identify and sell products and services, provide financial education to enhance the member experience, and consistently achieve individual and departmental goals.
• Utilize loan follow-up and outbound calling to further develop relationships with current members and loan applicants, offer products and services with measurable success, and ensure completeness and timelines of decisioning and funding of loans.
• Demonstrate proficiency in Credit Union product knowledge, services, and fintech partners.
• Utilize department and Credit Union procedures to mitigate risk and ensure that member requests and transactions are processed with accuracy, protecting members and the Credit Union from loss.
• Display adaptability and flexibility in meeting business needs based on member volume patterns at a branch or throughout the branch network.
• Utilize a variety of channels to ensure effective communication and collaboration within the branch, the Consumer Loan Center and throughout the Credit Union to foster a positive and professional relationship while enhancing overall service delivery.
• Actively promote and guide members in using Credit Union technology, enhancing their experience and empowering members to manage their finances with ease and confidence.
• Complete required departmental activities and trainings to ensure compliance with state and federal regulations and Credit Union policies.
• Adhere to safety and security procedures regarding emergency situations, third party access to secure areas, and promptly communicate suspicious activity to leadership.
• Follow established processes and guidelines in daily activities, adhering to all applicable laws and regulations, adapting to new information, technology platforms, handling ambiguity and adapting to change.
• Manage time efficiently and take initiative within the branch; seek opportunities to develop or enhance knowledge.
• Effectively handle escalations by taking ownership, de-escalating concerns with empathy and professionalism, and resolving issues to achieve superior service.
• Apply fraud detection strategies, taking steps to mitigate risks, protecting members and the Credit Union.
• Consistently meet or exceed established performance metrics, contributing to the Credit Union's goals and delivering a high standard of service.

Loan Officer II:

• Master all duties and responsibilities of Loan Officer, consistently demonstrating high performance through established metrics.
• Consistently offer products and services to members, achieving individual goals as identified for the position and supporting branch performance.
• Perform comprehensive financial analysis to recommend appropriate lending solutions that align with members' financial situations, conducting an in-depth financial analysis of members' income, assets, liabilities, and credit histories to recommend complex lending solutions.
• Develop and execute comprehensive fraud detection strategies, identifying complex patterns, and recommending steps to mitigate risks.
• Provide detailed information to underwriters on complex loan scenarios, ensuring all necessary documentation is submitted accurately.
• Assist with Home Equity applications by submitting member information and documents in a timely and accurate manner.
• Support the training of new Loan Officers, assisting with processing loan applications and sharing best practices.
• Demonstrate a strong understanding of products and services while using the ability to effectively communicate their features, benefits, and uses to members when recommending solutions.
• Contribute to service improvement efforts by resolving complex member inquiries and suggesting process enhancements.
• Share knowledge of products, services, and procedures with members and coworkers, presenting relevant topics at meetings as needed.
• Enhance the member experience by supporting service initiatives, promoting responsiveness, and recommending tailored solutions that drive member satisfaction and loyalty.
• Assist peers to ensure concerns are addressed promptly and professionally, effectively handling escalations, de-escalating concerns with empathy and professionalism, and resolving issues to achieve superior service.

Senior Loan Officer:

• Master all duties and responsibilities of Loan Officer and Loan Officer II, consistently demonstrating high performance through established metrics.
• Drive team success by supporting individual and branch sales goals through behavior modeling, encouragement, role-playing, training activities, and promotions.
• Facilitate adaptation to internal and external business changes, including strategies, structures, procedures, and technology, helping peers navigate transitions smoothly.
• Lead proactively by initiating and supporting training sessions, promotions, decision-making processes, and risk assessments.
• Exhibit leadership in managing complex member situations and requests, providing guidance and solutions.
• Serve as a resource for members and colleagues by offering in-depth knowledge of products, services, and procedures, establishing yourself as a go-to expert across all branches.
• Proven ability to mentor effectively to help others identify and address complex fraud situations, ensuring the security and trust of members.
• Demonstrated success in training and mentoring new Loan Officers in loan application processing and member interactions, ensuring a high standard of service.
• Resolve escalated issues strategically by implementing effective solutions, enhancing service delivery, and mentoring others to prevent future occurrences.
• Develop leadership skills by presenting topics at branch meetings, fostering a culture of continuous learning and improvement.
• Evaluate and improve processes by offering suggestions to leadership for increased efficiencies, training opportunities, and enhanced member service.
• Lead and optimize member service initiatives by developing training programs for team members and driving continuous improvement to elevate the overall member experience.

Job Requirements:

Loan Officer I:

• Follow proper balancing and cash handling procedures
• Regular and predictable attendance
• Demonstrate company core values
• Ability to work scheduled hours including, weekend and overtime, when applicable
• Receptive to accepting and applying feedback
• Strong attention to detail
• Proficient in member service
• 3+ years customer service/sales experience or equivalent desired, with consumer lending experience preferred
• Knowledge of lending regulations, credit analysis, and loan origination processes
• Demonstrate comprehensive knowledge of consumer lending products, services, and processes
• Strong ability to analyze financial and credit data
• Excellent listening skills
• Professional business etiquette and presentation skills, including maintaining professional workspace
• Proficient in sales skills with identifiable results
• Critical thinking and problem-solving skills
• Effective verbal and written communication skills
• Effective teamwork and collaboration skills
• Skills in de-escalating and resolving escalating member situations
• Effective use of fraud detection and prevention techniques
• Adaptability and Flexibility
• Analytical skills and the ability to work independently
• Math and general clerical aptitude
• Ability to multitask and prioritize
• Reliable and dependable
• Functional knowledge of Credit Union or other financial institution systems, products, services, and procedures preferred
• High School Diploma or GED

Loan Officer II:

• Master all Loan Officer knowledge, skills, and abilities
• In-depth understanding of consumer loan processes, including application and funding procedures
• Advanced sales skills with proven ability to fund loans, and the ability to support peers in developing their sales skills
• Exceptional communication skills, with the ability to effectively convey complex information to members and co-workers
• Advanced skills in de-escalating and resolving member issues, with a proven ability to effectively navigate complex conflicts and guide peers in managing escalated concerns
• Proven ability to make complex decisions with the ability to guide others in developing this skill
• Represent the department on Credit Union committees, special projects, and initiatives, with professionalism
• Work independently, demonstrating accountability while requiring minimal supervision
• Emerging leadership skills to mentor with the ability to support training efforts and share best practices with peers

Senior Loan Officer:

• Master all Loan Officer and Loan Officer II knowledge, skills, and abilities
• Subject matter expert on the loan process including risk identification and mitigation
• Comprehensive understanding of consumer loan products, services, and procedures
• In-depth knowledge of branch operations, sales strategies, and performance metrics
• Well-versed in regulatory requirements and compliance standards in the financial industry
• Advanced skill of fraud detection and prevention techniques
• Knowledge of training methodologies and best practices for mentoring and coaching
• Leadership and team management skills, with the ability to motivate and guide team members
• Excellent communication skills, both verbal and written, for effective member and colleague interactions
• Analytical skills to evaluate processes and suggest improvements
• Advanced sales skills to support branch sales goals and initiatives
• Training and development skills to mentor new employees and enhance team performance
• Ability to adapt to changes in business strategies, structures, procedures, and technology
• Proactive leadership in initiating and supporting training, promotions, and risk assessments
• Capability to serve as a resource for in-depth product and service knowledge across branches
• Mentoring ability to guide others in identifying and addressing fraud situations
• Presentation skills to develop and deliver topics at branch meetings
• Continuous improvement mindset to evaluate and enhance processes, training, and member service initiatives
• Expertise in advanced de-escalation and resolution of member issues, coupled with exceptional problem-solving and decision-making abilities to navigate complex situations
• Strategic thinking to effectively manage and resolve escalated concerns while guiding others

Competencies:

• Core Competencies that must be demonstrated by all Credit Union employees include Communicate, Navigate Change & Evolve, Solve Problems & Make Decisions, Plan, Prioritize, and Achieve, and Collaborate. Review the corresponding behaviors here.

Physical Demands & Work Environment:

• May be required to remain in a stationary position for an extended period of time
• Ability to operate standard office technology, equipment and tools, which may include many hours of computer and phone usage.
• Occasionally needs to move about inside of office area
• Exposure to potentially hazardous condition, i.e. robbery. Receives detailed instructions and procedures to be followed to minimize the exposure
• May be required to bend, reach, stoop, or perform other physical movements as necessary to access files, equipment, or other materials
• This position is able to work in onsite working arrangements

Disclaimer:

• Note this job description is not intended to be construed as an exhaustive list of all functions, responsibilities, skills, and abilities. Additional functions and requirements may be assigned by supervisors as deemed appropriate. This document does not represent a contract of employment, and MSU Federal Credit Union reserves the right to change this position description and/or assign tasks for the employee to perform, as MSUFCU may deem appropriate.
• MSUFCU is an affirmative-action, equal-opportunity employer.
• To perform this job successfully, an individual must be able to perform each essential job duty satisfactorily. Reasonable accommodations may be made to enable qualified individuals with disabilities to perform essential job functions.