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Senior Indirect Consumer Underwriter

Company: PenFed Credit Union
Location: Eugene
Posted on: November 22, 2021

Job Description:

Overview: Are you looking to take your career from good to great?As an employee of PenFed, every day is an opportunity to thrive, and be part of a team working to ensure our organization is providing world class service to our members, employees, and our communities.We exist to help our members realize their full potential, educate and encourage their dreams, and make every effortto follow our mission and help our members do better. Joining PenFed is more than being an employee; its about being a part of the PenFed family.PenFed is hiring a Senior Indirect Consumer Underwriter at our Eugene, Oregon location. The primary purpose of this job is to review and underwrite consumer loan applications (excluding 1st & 2nd trust) received through our indirect lending channel within delegated underwriting authority in accordance with Federal regulation and PenFed Board of Director Policies, procedures, and standards. Responsibilities: Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. This is not intended to be an all-inclusive list of job duties and the position will perform other duties as assigned.

  • Review and analyze applications for auto loans submitted by auto dealers. Gather necessary background information to make a sound lending decision based on the applicants credit profile.
  • Review and evaluate loan applications and approves, pends, or declines requests to extend credit.
  • Maintain a working knowledge of the analysis and judgmental decision process for indirect auto loan products (new & used auto, 3rd party products originated on the indirect lending platform).
  • Possess a strong understanding of the lifecycle of an automobile purchase in a dealership, and the relevant factors that drive applications to our indirect lending channel.
  • As a result of higher lending authority, execute higher risk and more complex underwriting decisions. Work as an escalation point to junior lenders for questions, concerns, and second reviews.
  • Ability to review funding package and understand the necessary documents required to fund an Indirect Auto contract.
  • Handle inbound calls regarding loan applications/contracts and maintain dealership relationships (Telephone communication skills required).
  • Build and enhance relationships with existing auto dealerships (Experience working in phone based sales/service environment).
  • Maintain a working knowledge of current loan fraud and credit abuse trends, particularly those common in indirect lending (e.g., misrepresentation of applicant data, straw buyers, etc.)
  • Lead peer mentoring and coaching activities to develop junior underwriting team, provides feedback and context for complex underwriting decisions.
  • Properly evaluate, justify, and execute requests for exceptions to policy within delegated authority; additionally, screens exception requests from junior underwriters to ensure proper justification and processing.
  • Collaborate with other departments and/or institutions to corroborate or collect information related to consumer lending decisions.
  • Work closely with Senior Management in the developing and refining the Indirect Auto program, including pricing, policies, procedures, and product enhancements.
  • Assist IT department with user acceptance and other systems testing.
  • Maintain a thorough understanding of state and federal laws and regulations related to credit union compliance including bank secrecy and anti-money laundering laws appropriate to the position.
  • Review policies, procedures, and guidelines and makes recommendations for improvement. Qualifications: Equivalent combination of education and experience is considered.
    • Bachelors Degree in a related field is strongly preferred.
    • Minimum of four (4) years of experience in an underwriting role with two (2) or more years of experience specifically in indirect underwriting is required.
    • Minimum of six (6) years of experience in a direct or indirect underwriting role is preferred.
    • Experience with the CU Direct underwriting platform is preferred
    • Prior experience in auto sales, auto finance, indirect lending or consumer collections is required.
    • Experience coaching, leading, and developing subordinates is strongly preferred.Supervisory ResponsibilityThis position will not supervise employees.Licenses and CertificationsMust successfully complete Pentagon Federal Loan Officer Training Program.Must be eligible to register with the relevant state insurance licensing organizationWork EnvironmentWhile performing the duties of this job, the employee is regularly exposed to an indoor office setting with moderate noise. Schedules may include off hours, nights, weekends, and holidays as necessary.*Most roles require working in an office setting with moderate noise and the ability to lift 25 pounds.*TravelAbility to travel to various worksites and be on-call may be required.Special Message Regarding COVID 19PenFed is continuing to hire and train exceptional individuals to help us serve our 2 million members both here and around the world.In light ofthe current situation with novel coronavirus (COVID-19), we have modified our hiring, onboarding, training, and deployment protocols in order to comply with current local and state guidance around social distancing. About Us: Established in 1935, PenFed today is one of the countrys strongest and most stable financial institutions with over2 million members and over $26billion in assets. We serve members in all 50 states and the District of Columbia, as well as in Guam, Puerto Rico and Okinawa. We are federally insured byNCUAand we are an Equal Housing Lender. We are available to members worldwide, via the web, seven days a week, twenty-four hours a day.We provide our employees with a lucrative benefits package including robust medical, dental and vision plan options, plenty of paid time off, 401k with employer match, on-site fitness facilities at our larger locations, and more.Equal Employment OpportunityPenFed management will maintain and observe personnel policies which will not discriminate or permit harassment or retaliation against a person because of race, color, creed, age, sex, gender, gender identity, gender expression, religion, national origin, ancestry, marital status, military or veteran status or obligation, the presence of a physical and/or mental disability or medical condition, genetic information, sexual orientation, and all statuses protected by applicable state or local law in all recruiting, hiring, training, compensation, overtime, position classifications, work assignments, facilities, promotions, transfers, employee treatment, and in all other terms and conditions of employment. PenFed will also prohibit retaliation against individuals for raising a complaint of discrimination or harassment or participating in an investigation of same.PenFed will also reasonably accommodate qualified individuals with a disability so that they can apply for a job or perform the essential functions of a job unless doing so causes a direct threat to these individuals or others in the workplace and the threat cannot be eliminated by reasonable accommodation or if the accommodation creates an undue hardship to PenFed. Contact human resources (HR) with any questions or requests for accommodation at.#LI-CM2

Keywords: PenFed Credit Union, Eugene , Senior Indirect Consumer Underwriter, Accounting, Auditing , Eugene, Oregon

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