Indirect Lender

Job description

At VyStar, we offer competitive pay, an excellent benefit package that includes a 401(k) Plan, an extensive paid technical and on-the-job training program, and tuition reimbursement--available to all full and part time employees. Part time positions start at a minimum of 30 hours per week. We encourage you to become a part of VyStar Credit Union's family of employees. Indirect Lender The Indirect Lender must be able to handle high volumes of indirect loan applications from dealers and effectively utilize their analytical judgement to render formalized risk assessment and pricing decisions. The Indirect Lender must be familiar with all VyStar lending policies, procedures, regulations, and State Statutes surrounding Indirect Consumer lending. The incumbent is responsible for the evaluation and verification of loan data to ensure it will meet all indirect lending regulations and requirements. The Incumbent is responsible for maintaining excellent dealer relations, department relations, and maintaining a positive work environment. The Indirect Lender will support AI-driven solutions to increase both efficiencies and accuracy of risk pricing. This includes helping to create a culture where innovation in process improvements is encouraged and where each employee is individually and collectively responsible for reaching individual, department, and corporate goals. As part of the VyStar team, the Indirect Lender provides quality service to VyStar members by making credit decision within prescribed loan authority and quickly acts on credit applications referred through our third-party indirect vendors. The Indirect Lender interacts directly with third party indirect vendors, participating dealerships, and members to facilitate the loan application and approval process. This role also ensures compliance with state and federal lending laws and ensures quality underwriting that leads to loss ratios within targeted thresholds established for profitability. Collaborates with the Indirect Sales Team, Indirect Disbursing team and assists to effectively develop and relationship build with over 400 dealers and third-party vendors. Essential Job Functions: Proficiently perform all duties of an Indirect Lender. Responsible for making the credit decision and risk mitigation of loan applications that originate through the indirect vertical as determined by VyStar’s geographic footprint. Ability to review a credit request for completeness, accuracy and feasibility and be able to discuss requests/results with originating dealer. Identifies critical issues, recognizes red flags and compensating factors, and makes loan decisions using sound discretion and within approval limits. Possess ability to accurately review and analyze individual and corporate tax returns and business financial statements to determine qualifying income on credit applications. Ensure strict adherence to all ECOA and Fair Credit Lending Regulations. Collaborate with internal departments and serve as a liaison for audit and compliance issues as needed. Collaborate with 3rd-party software vendor on computer support and maintenance issues that may include specification design, development oversight, infrastructure changes, report creation, as well as testing and integration of AI driven solutions. Identifies and makes recommendations for process improvements, increased efficiencies, and quality service delivery to ensure timely loan decisions within service level agreements. Maintain and build relationships within the Finance Department and the Dealer Lending Division sales team to help facilitate business and foster good business relations. Stay current on market conditions and changes in the competitions programs to help provide the Dealer Lending Division with a current and competitive product. Understand and comply with Credit Union policy, laws, regulations, and the bank’s BSA/AML. Program, as applicable to your job duties. This includes but is not limited to; complete compliance training and adhere to internal procedures and controls; report any known violations of compliance policy, laws, or regulations and report any suspicious customer and/or account activity. Must be well versed in all Indirect Consumer loan products to include Auto, Motorcycle, RV, and Marine. Must be able to analyze, underwrite and evaluate Indirect Luxury loan applicants for creditworthiness using the available system tools to make an impartial and valid loan decision that is within authority, policy, and compliance guidelines. Ability to review a credit request for completeness, accuracy and feasibility and be able to discuss requests/results with lenders and Dealers. Responsible for knowing the department’s goals and status of those goals. Responsible for maintaining loan delinquency and charge off levels within the acceptable range as defined and published in procedure. Perform to all established performance metrics and goals as outlined by department management and applicable policy and procedures. Possesses underwriting creativity and ability to restructure applications for approval while mitigating the associated credit risk. Must consistently demonstrate a courteous, tactful professional, personable, and friendly communication style with a focus on member and dealer service and an ability to interact with all levels of individuals on the phone and in person. Possess ability to accurately review and analyze individual and corporate tax returns and business financial statements to determine qualifying income on credit applications. Must show concern and respect for others in all interactions and inspires confidence and trust with members, dealers, and co-workers. This position requires varied schedules including weekends and nights and may require additional hours beyond established work schedules to meet the needs of the business, serve members and as necessary to complete project deadlines. All employees and business units, as first line of defense, are expected to proactively help identify, assess, manage, and report risks within their domain of work. To enhance a healthy risk culture and support our growth for good pillar, employees will maintain vigilance in safeguarding our operations while ensuring compliance with regulatory mandates. The Risk team serves as the second line of defense by providing risk oversight and credible challenge whereas the Audit team serves as the third line of defense by providing risk assurance. Must enjoy working independently and effectively as a team member in a high demand, deadline-driven, multi-task environment with organization and attention to deal being imperative. Other Critical Functions: Identify and recommend opportunities for AI application. Has advanced knowledge in Indirect luxury item underwriting, large dollar loans. Participates in education programs by instructing VyStar personnel in the advantages of, and the Policies and Procedures regarding, VyStar’s Indirect loan products. Consistently adheres to VyStar’s core values and Code of Ethics and acts in accordance with those values. Performs the activities and projects as assigned and requested by the department Credit and Operations manager. Projects and Training: Must successfully complete a minimum of 40 hours of on-going lending training annually. This may include classes held internally at VyStar or community courses sponsored by VyStar and external and internal seminars. Successfully completes and passes on-line training courses when offered Participates in coordination of all loan origination and core system testing and implementation of on-going system releases and enhancements. Ensures all regulatory changes and/or enhancements are tested and implemented within the department and that all personnel receive the training necessary to keep loans within regulatory compliance. Attend training classes as appropriate. Consistently adheres to VyStar core values and Code of Ethics and acts in accordance with those values. Public Relations: The position requires daily and close contact with dealers, VyStar Credit Union employees, members, and vendors. The incumbent must possess a congenial attitude, active listening skills, strong teaching skills, and a commitment to quality service. The incumbent must ensure that all written and verbal communication is professional and exemplifies the professional standard of VyStar Excellence behaviors. VyStar Excellence: Incumbent is expected to demonstrate each of the following VyStar Excellence behaviors in performing the duties and responsibilities of their job. Focus – Focus your full attention by carefully listening to and observing your clients or member. Connect – Consistently be friendly and approachable. Demonstrate you care. Understand – Listen empathetically and ask questions (70% to 30%). Counsel – Recommend solutions based on your client’s or member’s needs and objectives. Advance – Ensure that member’s or client’s expectations were exceeded. Verify necessary follow-up actions were completed. Required Minimum 2-4 years’ experience underwriting Indirect consumer loans, with established loan authority; 2 years Indirect experience preferred. High School Diploma or equivalent Proficiency in Microsoft Word and Excel and various loan application platforms is preferred Applicants must demonstrate the qualities of a self-starter and be a leader among their peers. Applicants must have positive, well-developed communication skills, both written and oral, be detail oriented, excellent analytical skills, have good organizational and active listening skills, the ability to work in a fast-paced environment, and proven ability to work with others. Must have professional conduct and appearance and be self-motivated. Must work under the philosophy of “people helping people” and can communicate with members and management on all levels. Job Knowledge, Skills and Abilities: Must be able to arrive at work on time, work on site and have regular work attendance. Must be able to work varied schedules including weekends, nights and holidays not observed by the Indirect lending business unit. May also require additional hours beyond established works schedules to meet the business demands. Must be able to work cooperatively with other co-workers regardless of personality, presence, or communication style. Must be able to perform several tasks at once and be able to work in a stressful fast paced atmosphere. Must be able to coordinate multiple and changing priorities and multi-task. Must be able to verbally communicate with all other associates. Must be able to occasionally work outside of normal business hours. Disclaimers and Work Environment: Nothing in this position description is an implied contract for employment. The position description is intended to be an accurate account of the essential functions. The functions are not all encompassing and are subject to change at any time by management. The work environment characteristics described are representative of those that 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. As required or requested, may exert up to 20 pounds of force occasionally and/or a negligible amount of force constantly to lift, carry, push, pull or otherwise move objects. VyStar Credit Union is not seeking outside assistance or accepting unsolicited resumes from staffing agencies or search firms for employment or contractor opportunities. Any resumes submitted by an outside vendor to any employee at VyStar via e-mail, internet, or directly to hiring managers without a valid written search agreement with the Talent Acquisition / HR department will be deemed the sole property of VyStar Credit Union. No placement fee will be paid if a candidate is hired as a result of the referral, or through other means. Thank you for your inquiry regarding our current job opening. Your resume will be carefully reviewed against the position requirements. Should your experience and skills match, you will be contacted by one of our Human Resources department staff members. Thank you again for your interest in this position! VyStar Credit Union Human Resources