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Millbury Federal Credit Union logoMillbury Federal Credit Union

Consumer Lending Manager

Millbury, Massachusetts, United States · On-site

$78k–$83k/yr

Senior

Consumer Lending Manager Location: 50 Main St., Millbury, MA 01527 (in office position) Work Schedule is: Full Time, Monday – Friday 8:30am-5pm Position Summary: Reporting to the Sr. Vice President of Consumer Cred…

Skills: Indirect Lending, Loan Origination, Underwriting, Credit Analysis, Relationship Management

Millbury Federal Credit Union logo

Consumer Lending Manager

Millbury Federal Credit Union

Millbury, Massachusetts, United States • On-site

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Senior

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  • $78k–$83k/yr
  • Full-time
  • high school, associate degree, bachelor degree
  • Competitive Salary, Vacation, Sick Paid Time Off, Personal Paid Time Off, 11 Paid Federal Holidays, Health Insurance
  • Posted 7d ago
  • ~40 hrs/week

Responsibilities

Oversee the indirect and consumer lending department, managing the funding process from application to disbursement. Develop relationships with indirect partners like dealerships and analyze loan performance to mitigate risk and optimize strategies.

Requirements

Requires a high school diploma with a preference for an associate or bachelor's degree and 5-8 years of experience in loan origination and underwriting. Must be Be Safe Act compliant and registered on NMLS with proficiency in Microsoft Office.

Full job description

Consumer Lending Manager

Location: 50 Main St., Millbury, MA 01527 (in office position)

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 manages; the consumer loan LOS system, rate sheets, reconcilement of invoices, quality control, policy / procedure, and approves or denies consumer loans according to MCU loan policy and tier levels. Is also responsible for the daily on-time funding and dealer interactions.

Responsibilities:

  • Approve / deny loans from all branches and origination sources. Answer questions by phone or email regarding processing, documentation, and loan closings in accordance with MCU policy and procedure.
  • Review denied loans on a monthly basis ensuring compliance with lending policy and procedure.
  • Perform a post-closing review of closed loans and tracks and report finding back to the Sr. Vice President of Retail Banking & Operation and the Sr. Vice President of Consumer Credit monthly; work with staff to train and rectify errors when required.
  • Maintain lending software and perform, when necessary, software updates and maintain rate pages / tables. Train staff on use of software.
  • Process Mass Save Heat Loans and coordinate with staff to close loans. 
  • Originate process and close applications when necessary.
  • Comply with federal and state regulations as applicable.
  • 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.
  • Prepare monthly reports as required.
  • Reconcile consumer- and indirect-loan-related invoices as required.
  • Maintain Consumer Loan policy and procedures for annual approval as required.
  • Review monthly and report quarterly to manager on website accuracy for consumer lending products.
  • Initiate GAP Ins. claims.
  • Engage in daily approval / concurrence and funding of indirect auto loans including document review, ACH preparation, and payoff reconcilement.
  • Manage the Consumer Loan Clerk Indirect Funding Specialist, including annual review process.
  • Manage workflow and staffing levels to ensure coverage for indirect funding process. 
  • Work closely with management and third-party administrator of indirect lending program.
  • Rate surveys as required.
  • Be Safe Act compliant and registered on NMLS.
  • 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.

Related keywords

Indirect LendingConsumer LoansUnderwritingNMLSBe Safe ActLoan OperationsCredit RiskComplianceDealership PartnershipsLoan DisbursementPortfolio PerformanceMass Save Heat LoansCreditworthinessBankingFinancial Goals

About Millbury Federal Credit Union

LinkedInVisit site

Your Community Credit Union

Industry
Banking
Company size
51-200 employees
Founded
1934
Headquarters
Millbury, MA
LinkedIn followers
597

MCU is a community credit union that offers competitive deposit rates and a wide variety of low-cost lending options. Member NCUA, Member MSIC, Equal Housing Lender. If you or an immediate family member live or work in Worcester County, it's easy to join MCU. Just open a deposit account for $5 or more...and you're a member! With branches located in Millbury, Auburn, Worcester and South Grafton, we take pride in consistently delivering the highest level of service to our members for over 85 years.

Offices: 50 Main Street, Millbury, MA 01527, US · 117B Stafford Street, Worcester, MA 01603, US · 56 Auburn Street, Auburn, MA 01501, US · 460 West Boylston Street, Worcester, MA 01606, US · 377 Providence Road, South Grafton, MA 01560, US

Personal CheckingDeposit AccountsAuto LoansMortgagesStudent LoansSafe Deposit RentalsElectronic BankingCredit CardsSmall Business and Commercial LendingInvestment Services
View all jobs at Millbury Federal Credit Union

About Millbury Federal Credit Union

LinkedInVisit site

Your Community Credit Union

Industry
Banking
Company size
51-200 employees
Founded
1934
Headquarters
Millbury, MA
LinkedIn followers
597

MCU is a community credit union that offers competitive deposit rates and a wide variety of low-cost lending options. Member NCUA, Member MSIC, Equal Housing Lender. If you or an immediate family member live or work in Worcester County, it's easy to join MCU. Just open a deposit account for $5 or more...and you're a member! With branches located in Millbury, Auburn, Worcester and South Grafton, we take pride in consistently delivering the highest level of service to our members for over 85 years.

Offices: 50 Main Street, Millbury, MA 01527, US · 117B Stafford Street, Worcester, MA 01603, US · 56 Auburn Street, Auburn, MA 01501, US · 460 West Boylston Street, Worcester, MA 01606, US · 377 Providence Road, South Grafton, MA 01560, US

Personal CheckingDeposit AccountsAuto LoansMortgagesStudent LoansSafe Deposit RentalsElectronic BankingCredit CardsSmall Business and Commercial LendingInvestment Services
View all jobs at Millbury Federal Credit Union

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