MERCHANT LENDING LOAN PROCESSOR

This position allows for an optional hybrid work arrangement which includes a combination of both in-office and remote work on a weekly basis. To be eligible for the program, employees must complete a minimum of 90 days of continuous employment, be in good standing, and agree to the terms of a Work from Home Agreement prior to being eligible for hybrid work. The employee's request is subject to supervisor approval. Working locations and hybrid schedules may be altered at management discretion.

Position Summary:

The Merchant Lending Loan Processor is responsible for the processing and funding of approved merchant loans that come in from merchants through the credit union's indirect lending channel. Reviews loan documents for accuracy, ensures all stipulations are met and funds loans are key job functions. The incumbent will be working in a fast-paced environment, representing the credit union while working closely with merchants and dealerships that are part of our Indirect Lending Program.

Primary Responsibilities and Duties:

1. Serves as the main point of contact for Merchants/Members for any questions/concerns pertaining to the application and/or status.
2. Works closely with the Underwriting Department to ensure a timely and positive experience for our members, merchants, and.
3. Tracks closing dates for pending merchant loans. Reviews progress of application to ensure closing date is not delayed. Escalates issues to management as needed.
4. Identifies, resolves, and reports lending process issues that could impact the member and/or merchant to upper management.
5. Coaches and provides guidance to less experienced Processors as needed.
6. Reviews merchant lending applications received from the merchant to ensure the documents submitted meet established standards for completeness and accuracy.
7. Conducts welcome calls and documents results in application. Follows up with borrower on the progress of the job the merchant is performing.
8. Prepares introduction email to applicant with detailed information of the loan process.
9. Communicates clearly and accurately with merchants to obtain missing documentation and verifies in a timely manner.
10. Opens new membership accounts per membership eligibility standards and established procedures.
11. Verifies critical loan information, including but not limited to, income and employment, per established procedures, or as conditioned by underwriting.
12. Ensures all information entered into the lending platform is accurate and reflective of the information provided on the application.
13. Obtains missing documentation required for loan funding.
14. Answers incoming telephone calls from merchants, members, and other Launch CU employees.
15. Disburses loan proceeds and merchant incentives to merchants by way of ACH origination within a specified period after receiving a complete loan package.
16. Prepares and emails informational packages and letters to members.
17. Demonstrates an ability to meet and exceed established department production, service, and quality standard goals.
18. Adheres to established organizational policies and procedures to ensure consistent operations of the Merchant Lending Department.
    
    

Other Responsibilities and Duties:

1. Follows all Launch Credit Union policies and procedures.
2. Proposes system and/or process improvements to enhance efficiency and quality of results.
3. Completes assigned training in a timely manner.
4. Attends meetings and training sessions as required.
5. Develops, maintains, and demonstrates a working knowledge of credit union loan standards, policies, procedures, and applicable state and federal government rules.
6. Performs other duties as assigned.

Education, Experience, and Skills Required:

1. Minimum of three years of customer service or administrative experience. Lending experience is preferred.
2. A high school diploma or GED.
3. Strong written, verbal, and interpersonal skills.
4. Able to work within a team environment as well as independently with minimal supervision.
5. Detail oriented, organized, accurate, able to work under pressure, ability to adapt to change, and problem-solving skills. Good judgment and decision-making skills, and the ability to multitask.
6. Displays courtesy, tact, and diplomacy during personal contact with others inside and/or outside of the organization for purposes of giving or obtaining information, building relationships, or soliciting cooperation. Strong written, verbal, and interpersonal skills.
7. Self-motivated and demonstrates problem solving skills, maximizing individual productivity and efficiency.
8. Knowledge of the credit union's policies and procedures.
9. Knowledge of Member Services.
10. Proficient with the use of computers. Ability to use a calculator and initiative to learn new technology and tasks.
11. Understands the Truth in Savings Act, Patriot Act, Reg. CC, BSA, OFAC, FACT Act, Reg. B and Reg. Z.

Launch Credit Union is an Equal Opportunity Employer, including protected veterans and individuals with disabilities.