Loan Workout Manager jobs in Binghamton, NY

The Loan Processor performs duties within the established parameters of the policies and procedures of the department. This position plays a critical role in assessing the creditworthiness of loan applicants and ensuring compliance with the credit union's policies and guidelines, and industry regulations. They are responsible for evaluating loan applications, analyzing financial data, and making informed decisions regarding loan approvals. Expertise in assessing risk and evaluating loan applications will contribute to the overall success of the credit union's lending operations.

Essential Functions and Responsibilities:

• Loan Application Evaluation: Review loan applications submitted by credit union members, analyzing financial information, credit histories, and other relevant factors to determine loan eligibility and risk assessment.
• Risk Assessment: Assess the creditworthiness of applicants by examining their income, employment history, credit scores, and debt-to-income ratios, ensuring adherence to the credit union's lending policies and regulatory requirements.
• Financial Analysis: Analyze financial statements, tax returns, and other relevant documents to evaluate the financial stability of applicants and determine their ability to repay the loan.
• Compliance and Policy Adherence: Ensure compliance with lending regulations, credit union policies, and underwriting guidelines during the loan approval process.
• Decision Making: Make informed decisions on loan approvals, denials, or alternative structures based on the evaluation of credit risk, collateral value, and overall financial profiles of applicants.
• Communication: Communicate loan decisions and recommendations to loan officers, members, and other relevant stakeholders, providing clear explanations and guidance when necessary.
• Documentation and Record Keeping: Maintain accurate and organized loan files, documenting the underwriting process, decisions, and any additional conditions imposed on approved loans.
• Collaboration: Collaborate with loan officers, and other internal teams to ensure effective communication and a smooth loan origination process.
• Continuous Improvement: Stay updated on industry trends, regulatory changes, and best practices related to loan underwriting, seeking opportunities to enhance underwriting processes and contribute to the credit union's success.
• Commitment to maintaining confidentiality and handling sensitive member information with professionalism and integrity.
• Ability to work independently, manage multiple priorities, and meet deadlines in a fast-paced environment.

Performance Measurement:

Performance will be measured on tangible measurable objectives noted above and as assigned as well as demonstrated skills and behaviors.

• Adherence and compliance with credit union procedures and policies and lending guidelines.
• Prompt friendly, personal and professional service to members, potential members and teammates. Make eye contact, smile, and provide a welcome inviting greeting.
• Complete assigned training, ensure continued up to date product knowledge, establish successful sales techniques, and other development activities as assigned.
• Contribute to cohesive collaborative teamwork with all departments within.
• Maintain high level of confidentiality regarding credit union staff and member information.
• Prompt follow-up and responsiveness to internal and external contacts and inquiries. Demonstrate ownership and accountability of assignments and tasks.

Knowledge, Skills and Abilities:

Experience:

• Proven experience in lending and/or loan underwriting within a financial institution, preferably in a credit union or banking environment.
• In-depth knowledge of loan underwriting principles, credit analysis, risk assessment, and lending regulations.
• Familiarity with mortgage loans, consumer loans, and small business loans.
• Strong analytical skills and attention to detail, with the ability to interpret financial data and make sound decisions.
• Proficiency in using loan origination software, credit scoring systems, and other relevant tools.

Education: Associates’ degree in finance, business, or a related field (preferred).

Interpersonal:

This position involves contact with others inside and outside the organization and requires professionalism, courtesy, finesse, tact and diplomacy. This position requires the ability to engage and influence others by building rapport. Must demonstrate excellent communication skills, both written and verbal, to effectively interact with members and internal stakeholders.

Other Skills:

Computer skills to include Internet research, typing, data entry and knowledge of Microsoft Office applications; strong EXCEL skills desired.

Physical Demands:

The physical demands described here are representative of those that must be met by an

employee to successfully perform the essential functions of this position. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

While performing the duties of the position, the employee is regularly required to stand or sit, use hands and arms to reach, and hands and fingers to feel. The employee is regularly required to talk, hear and communicate with others. The employee periodically stands, walk, reach, stoop, kneel, crouch or squat and use the stairs.

Employees must regularly lift and/or move up to 10 pounds. Periodically lift and/or move 20 lbs. Specific vision abilities required by this job include close vision, color vision, peripheral vision, depth perception and the ability to adjust focus.

Job Type: Full-time

Pay: $18.00 - $21.00 per hour

Expected hours: 40 per week

Benefits:

• 401(k)
• 401(k) matching
• Dental insurance
• Health insurance
• Life insurance
• Paid time off
• Vision insurance

Schedule:

• 8 hour shift
• Day shift
• Monday to Friday
• Weekends as needed

Ability to Relocate:

• Binghamton, NY 13905: Relocate before starting work (Required)

Work Location: In person