Consumer Loan Junior Underwriter at West Suburban Bank in Aurora, Illinois

Job Description:

Consumer Loan Junior Underwriter

US-IL-Aurora

Job ID: 2021-4172
Type: Regular Full-Time
# of Openings: 1
Category: Lending - Consumer
Consumer Lending

Responsibilities

Summary: The Junior Underwriter is responsible for underwriting, analyzing and evaluating a consumer loan application and the supporting documents to assess borrower's credit worthiness and minimize risk or loss to the company.

Essential Functions of the Junior Underwriter:

Reasonable accommodations may be made to enable individuals with disabilities to perform the following essential functions.

• Communicates with Universal Bankers and customers as necessary to achieve a mutually benificial transaction, and underwrites the loan within assigned underwriting authority using sound underwriting judgment and independent decision-making.
• Structures and documents exceptions to published loan policy and presents to Underwriter II or management for approval.
• Analyze credit reports, tax returns and financial statements, property appraisals, titles and associated documentation to determine credit worthiness of borrower.
• Calculate income for all types of borrowers; analyze various sources of income
• Escalate possible red flags or possible misrepresentation to the manager.
• Provide feedback to management on workflow efficiencies between the underwriting and processing department.
• Converses with Universal Bankers and customers as necessary to resolve questions regarding application. Actively counter offers and cross-sells loan products wherever possible.
• Communicates denials or counter-offers to Universal Bankers and customers as necessary. Responsible for compliance of assigned applications to applicable lending regulations and internal processing procedures. Maintains current knowledge of regulations and procedures.

Qualifications

Required Education and Experience:

• Excellent computer skills. Proficiency in Microsoft Office Suite;
• Strong verbal and written communication skills; Strong attention to detail;
• Excellent analytical and critical thinking skills. Ability to recognize potential red flags, inconsistencies within files documentation and other problem areas and initiate proper mitigation action;
• Excellent time management skills and the ability to set and shift priorities as needed, to work under time and deadline pressure, and to effectively manage a large workload;
• Knowledge of applicable underwriting guidelines. Extensive knowledge of loan requirements for all types of non-real estate consumer installment, and consumer open-end credit, general knowledge knowledge of real estate underwriting guidlelines;
• Strong knowledge of applicable lending regulations, including non- real estate secured, consumer open end credit, and consumer closed end credit;
• Subject to SAFE Act Registration Requirements.
• Minimum 3 years' experience with consumer loan underwriting and/or credit processing.

Preferred Education and Experience:

• Bachelor's degree in Business, Finance or equivalent work experience.

Equal Opportunity Employer/Veterans/Disabled

All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, or protected veteran status and will not be discriminated against on the basis of disability.