Consumer Lending Manager.
Location: Reporting in person to - 50 Main St., Millbury, MA 01527
Work Schedule is: Full Time, Monday – Friday 8:30am-5pm
Position Summary: :Reporting to the Sr. Vice President of Consumer Credit or assignee, the Consumer Lending Manager assists the Loan Operations and Retail Banking staff on the day-to-day lending process. The incumbent will manage; the consumer loan LOS system, rate sheets, and reconcilement of invoices, quality control, and policy / procedure, approves or denies consumer loans according to MCU loan policy and tier levels, and is responsible for the daily on-time funding and dealer interactions.
Responsibilities:
- Manage and oversee the indirect consumer loan funding process from application through disbursement, ensuring accuracy and compliance.
- Develop and maintain strong relationships with indirect lending partners, including dealerships and brokers, to facilitate loan origination and funding.
- Evaluate loan applications for creditworthiness and adherence to underwriting guidelines, making informed decisions to approve or decline loans.
- Monitor loan portfolio performance, analyze trends, and implement strategies to mitigate risk and improve loan quality.
- Collaborate with internal teams such as credit risk, compliance, and operations to streamline processes and ensure regulatory compliance.
- Provide training and support to indirect lending partners to enhance their understanding of loan products and funding procedures.
- Train staff on changes to consumer loan products as well as consumer add-on products such as life and disability insurance, GAP, and Mechanical Breakdown.
- Process employee loan requests for confidentiality in conjunction with HR and auditing purposes.
- Process Mass Save Heat Loans and coordinate with staff to close loans.
- Prepare regular reports on loan performance, funding status, and partner activity for senior management review
- Rate surveys as required.
- Perform other duties as assigned
Qualifications:
- High school diploma or G.E.D. required; associate or bachelor’s degree or equivalent combination of education and experience in loan operations management.
- Minimum of 5-8 years of experience in loan origination, indirect lending, underwriting, and production, preferably in a banking environment.
- Demonstrated management/leadership experience
- Proficiency in Microsoft Office applications, specifically Excel and Word.
- Knowledge of various loan systems.
- Consumer lending background.
- Be Safe Act compliant and registered on NMLS
Skills and Abilities:
- Ability to meet deadlines and display attention-to-detail.
- Sound verbal and written communication skills.
What can Millbury Federal Credit Union offer you?
MCU places strong emphasis on providing quality service to our members and you! MCU offers a family-friendly working environment and outstanding benefits which include:
- Competitive salary
- Vacation, sick and personal paid time off
- 11 paid Federal holidays
- Health, dental, vision, life, and disability insurance
- Tuition assistance
- 401(k) retirement plan with employer match
- Employer funded profit sharing
- Annual bonus to qualified employees
At MCU you will find a respectable and inclusive workplace where everyone is given the opportunity for personal and professional growth. If you share a passion for the community you work in, you just may be a great fit at MCU.
We are an equal opportunity employer, and all qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, disability status, protected veteran status, or any other characteristic protected by law.
In accordance with the Americans with Disabilities Act, it is possible that requirements may be modified to reasonably accommodate disabled individuals. However, no accommodation will be provided which may pose serious health or safety risks to the employee or others or which impose undue hardships on the organization.
EEO / AA Employer
The specific pay for this position will be determined by the Company based on consideration of all relevant factors when and if an offer of employment is extended
Monday - Friday: 8:30am-5:00pm
Full Time: 40 hours/week.
Benefits:
- 401(k)
- 401(k) matching
- Dental insurance
- Employee assistance program
- Flexible spending account
- Health insurance
- Life insurance
- Paid time off
- Tuition reimbursement
- Vision insurance
Work Location: In person
