Senior Loan Officer I

To evaluate, approve/disapprove moderately complex consumer loan applications, requests for refinancing, extension of existing loans, reinstatements of overdraft lines of credit, appeals, and changes or releases of collateral within approved lending limits. Work is performed under limited supervision.

Responsibilities

• Review loan applications for completeness, data integrity and accuracy and to determine if additional information and/or supporting documentation is required
• Collaborate with Consumer Loan Processors to ensure that all required data and supporting documentation is obtained
• Ensure loan applications are in compliance with applicable federal and state laws, rules, regulations, NCUA guidelines, and Navy Federal policies and procedures
• Analyze member credit and credit reports independent of scoring systems to confirm loan eligibility
• Determine/evaluate collateral, interest rates, terms and other related consumer loan criteria
• Approve consumer loans and authorize loan disbursements
• Exercise prudent judgement and lending practices to minimize financial risk to Navy Federal’s Consumer Lending Portfolio
• Collaborate with Risk Management and Security to assist in identifying possible fraud involving loan applications
• Provide a high level of expertise and member service to resolve moderately complex inquiries, requests, and problems
• Review loan applications forwarded by Junior Loan Officers recommended for disapproval or that exceed their approval limit and take appropriate action
• Understand member needs, recommend appropriate lending solutions, and provide unparalleled quality service
• Maintain knowledge of applicable federal and state laws, rules, regulations and Navy Federal policies and procedures
• Research and respond promptly to inquiries from members and internal business units
• Adhere to production standards and thresholds
• Identify and recommend lending process improvements to management
• Provide guidance and training to Member Service Representatives and Consumer Loan Processors via the Assist Line and WebEx Live Assist channels
• Collaborate with Training team to maintain the on-line manual to ensure all guidelines are accurate and current
• Serve as a mentor/trainer and provide guidance and assistance to Junior Loan Officers
• Perform other duties as assigned

Qualifications

• Bachelor’s degree in Finance, Business Administration, or related field, or the equivalent combination of education, training, and experience
• Experience working in underwriting and/or processing lending products, preferably in a large financial services organization
• Working knowledge of applicable federal and state laws, rules and regulations
• Working knowledge of consumer loan and underwriting processes, principles, policies and financial practices
• Working knowledge of operational and regulatory risks and controls
• Working knowledge of banking/financial industry trends, products and services
• Working knowledge of information contained in a credit bureau report
• Effective skill interpreting and applying relevant data/instructions to guidelines, procedures, practices and, applicable laws, rules, and regulations
• Effective skill in evaluating creditworthiness to make lending decisions
• Effective skill exercising initiative and using good judgment to make sound decisions
• Effective research, analytical, and problem-solving skills
• Effective skill assimilating information, analyzing facts, and developing logical conclusions
• Effective skill conducting moderately complex personal and business financial analysis
• Effective skill interacting with staff, management, vendors and members diplomatically and tactfully
• Effective skill building effective relationships through rapport, trust, diplomacy and tact
• Effective organizational, planning and time management skills
• Experience managing multiple priorities independently and/or in a team environment to achieve goals
• Experience working in a high volume, fast paced environment
• Experience in guiding and mentoring others
• Ability to work independently and in a team environment
• Advanced verbal, interpersonal and written communications skills
• Effective database, word processing, spreadsheet, and presentation software skills (e.g., Microsoft Access, Excel, PowerPoint, etc.)

Desired Qualifications

• Working knowledge of Navy Federal consumer loan products, services, programs, policies and procedures
• Working knowledge of consumer lending industry, best practices, and automated financial systems
• Working knowledge of Navy Federal’s functions, philosophy, operations and organizational objectives

Lead Loan Officer

To assist in leading and coordinating the activities of a team of Junior and Sr Loan Officers to achieve Consumer Lending production objectives. Evaluate, approve/disapprove consumer loan applications, requests for refinancing, extension of existing loans, reinstatements of overdraft lines of credit, appeals, and changes or releases of collateral within authorized lending limits. Serve as subject matter expert and point of contact regarding consumer lending process, systems, and policies and procedures. Support management in developing and executing strategic plans. Work is performed under general direction. May act as Supervisor in the incumbent’s absence.

Responsibilities

• Review loan applications for completeness, data integrity and accuracy and to determine if additional information and/or supporting documentation is required
• Review and decision loans that have a higher level of complexity and/or exceed the dollar limits of the Senior Loan Officer I/II’s approval authority
• Assist Junior, and Sr Loan Officer I/II team members with questions regarding lending requests
• Provide a high level of expertise and member service to resolve complex inquiries, requests, and issues that arise; research and respond promptly to inquiries from members and internal business units
• Analyze member credit and credit reports independent of scoring systems to confirm loan eligibility
• Assist with overseeing, managing, and controlling high-risk loan adjustments and unreconciled items to ensure accuracy and mitigate financial risk
• Detect errors and initiate or arrange for corrective action; ensure prompt resolution
• Understand member needs, recommend appropriate lending solutions, and provide unparalleled quality service
• Perform secondary reviews and grant exceptions on requests sent up by Senior Loan Officers (e.g., appeals, high dollar loan amounts, etc.), and that are recommended for disapproval or that exceed their approval limit; take appropriate action
• Respond to member complaints, including those through Consumer Financial Protection Bureau, Better Business Bureau and letters to the President for management; conduct research to ensure accuracy of response to members
• Participate in driving continuous process improvement to increase member experience quality; increase revenue; minimize financial risk and maintain high operational efficiency
• Identify operational and performance gaps and obstacles; recommend changes and improvements to Supervisor
• Participate in monitoring internal lending process and perform quality control audits to ensure compliance with applicable federal and state laws, rules, regulations, NCUA guidelines, and Navy Federal policies and procedures
• Maintain thorough knowledge of applicable federal and state laws, rules, regulations, NCUA guidelines, and Navy Federal policies and procedures
• Ensure lending processes and procedures are consistent and in alignment with department and organizational objectives; notify Supervisor of inconsistencies
• Remain alert to threats to loan security, fraudulent applications, and other questionable practices that may negatively impact the quality of the loan portfolio or create inappropriate financial risk
• Ensure system outages, and/or issues are promptly resolved through communication with ISD, Consumer Lending Business Analysts, and management
• Assist leadership with establishing and ensuring production goals, standards, and strategies are implemented and align with department priorities
• Assist leadership with scheduling and coordinating work to ensure production requirements are met
• Ensure collateral is properly secured and released in accordance with Navy Federal requirements
• Provide guidance and training to Member Service Representatives and Consumer Loan Processors via the Assist Line and WebEx Live Assist Chat
• Collaborate with the Consumer Lending Training team to maintain the Loan Officer Handbook; ensure training material and guidelines are accurate and current
• Collaborate with other business units to analyze and improve processing procedures and resolve issues as they come up
• Identify and recommend procedural changes and system enhancements and changes to management
• Prepare reports and presentations for management as necessary
• Ensure proper recordkeeping and provide technical advice and guidance to staff
• Perform other duties as assigned

Qualifications

• Bachelor’s degree in Finance, Economics, Business Administration, or related field, or the equivalent combination of education, training, and experience
• Significant experience serving in a lead capacity in a lending production environment with an emphasis in underwriting and/or processing consumer lending products, preferably for a large financial services organization
• Advanced knowledge of applicable federal and state laws, rules and regulations
• Advanced knowledge of consumer lending and underwriting processes, principles and financial practices
• Advanced knowledge of operational and regulatory risks and controls
• Advanced skill conducting complex personal and business financial analysis
• Advanced knowledge of banking/financial industry trends, products and services
• Advanced knowledge of information contained in a credit bureau report
• Advanced skill interpreting and applying relevant data/instructions to guidelines, procedures, practices and, applicable laws, rules, and regulations
• Advanced skill in evaluating creditworthiness to make lending decisions
• Advanced skill to comprehend, analyze, interpret, communicate and apply government and financial industry regulations related principles and practices, and company instructions, procedures and policies
• Advanced skill explaining multiple, complex loan programs, and financing options
• Effective skill communicating complex technical concepts to non-technical audiences
• Advanced skill exercising initiative and using good judgment to make sound decisions
• Advanced research, analytical, and problem-solving skills
• Advanced skill assimilating information, analyzing facts, and developing logical conclusions
• Advanced skill interacting with staff, management, vendors and members diplomatically and tactfully
• Advanced skill building effective relationships through rapport, trust, diplomacy and tact
• Advanced organizational, planning and time management skills
• Significant experience managing multiple priorities independently and/or in a team environment to achieve goals
• Significant experience working in a high volume, fast paced environment
• Significant experience in leading, guiding and mentoring others
• Advanced verbal, interpersonal and written communications skills
• Advanced database, word processing, spreadsheet, and presentation software skills (e.g., Microsoft Access, Excel, PowerPoint, etc.)

Desired Qualifications

• Advanced knowledge of Navy Federal’s functions, philosophy, operations and organizational objectives

Hours: Monday - Friday, 8:00AM - 4:30PM CST/9:00AM - 5:30PM EST

Location: 820 Follin Lane, Vienna, VA 22180 | 5550 Heritage Oaks Dr. Pensacola, FL 32526

Navy Federal is now hybrid! Our standard enterprise requirement for a hybrid schedule is to report on-site 4-16 days each month. The number of days reporting on-site will ultimately be determined by the employee's leadership and business unit needs. You will learn more throughout the hiring and on boarding process.

Salary Range: $24.00 - $48.50 hourly

Navy Federal Credit Union assesses market data to establish salary ranges that enable us to remain competitive. You are paid within the salary range, based on your experience, location and market position.

Posting End Date: 05/22/23

Job postings are subject to close early or extend out longer than the anticipated closing date at the hiring team’s discretion based on qualified applicant volume.