Loan Officer/MSR

Organization: Sioux Valley Co-op Federal Credit Union
Date Posted: March 26, 2024
Region: South Dakota
Location of Position: Watertown
Position Level: Entry

Loan Processing and Underwriting:

Job Description: Small Credit Union Loan Officer and Member Service Representative (MSR)

Position Overview: As a Loan Officer and Member Service Representative (MSR) at our small credit union, you will play a pivotal role in providing financial services and support to our members. You will be responsible for assisting members with their loan applications, providing guidance on financial products, and delivering exceptional customer service.

Key Responsibilities:
Review loan applications and supporting documents.
Assess creditworthiness and financial background of applicants.
Conduct underwriting processes to determine loan approvals.
Ensure compliance with regulatory requirements and credit union policies.

Loan Consultation:
Provide personalized guidance to members regarding loan options.
Explain terms, conditions, and repayment schedules clearly.
Assist members in understanding their credit reports and scores.
Recommend suitable loan products based on individual financial situations.

Member Service and Support:
Serve as the primary point of contact for member inquiries and requests.
Address member concerns professionally and promptly.
Assist members with account-related transactions and inquiries.
Promote and cross-sell credit union products and services to meet member needs.

Documentation and Record-Keeping:
Maintain accurate and complete loan files and documentation.
Ensure all loan documents are properly executed and filed.
Follow up on missing or incomplete information as needed.
Maintain confidentiality and security of member information.

Compliance and Risk Management:
Stay updated on industry regulations, compliance standards, and best practices.
Adhere to lending policies, procedures, and regulatory requirements.
Identify and mitigate potential risks related to loan processes and transactions.

Qualifications:
Bachelor's degree in finance, business administration, or a related field (preferred).
Previous experience in lending, banking, or financial services.
Knowledge of loan underwriting principles, credit analysis, and financial risk assessment.
Strong customer service and communication skills.
Attention to detail and accuracy in documentation.
Ability to work independently and as part of a team.
Familiarity with financial software and systems (e.g., loan origination software, CRM tools).

Benefits:
Competitive salary and benefits package.
Opportunities for professional development and career growth.
Positive work environment with a focus on teamwork and collaboration.
Contribution to the financial well-being of members and the community.
Note: This job description is intended to outline the general nature and level of work being performed by individuals assigned to this position. It is not intended to be an exhaustive list of all responsibilities, duties, and skills required. Management reserves the right to modify, add, or remove duties as necessary to meet business needs.

Job Type: Full-time

Pay: $50,000.00 - $60,000.00 per year

Benefits:
Dental insurance
Health insurance
Paid time off

Payment frequency: Paid monthly

Schedule: Monday to Friday

Work setting: In-person/Office

Work Location: In person

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