Loan Officer - Lincoln Ave Branch (Chicago)

Position Summary:

The Loan Officer position is responsible for providing a superior member service experience during the consumer loan application process and when responding to member transaction requests. The Loan Officer plays a pivotal role in helping members achieve their financial goals by guiding them through the consumer loan process. Loan Officers respond to member requests for consumer loans and recommend additional products and services that elevate the member's financial wellbeing and perform these tasks with accuracy and efficiency. This role requires a strong understanding of lending regulations, excellent communication and sales skills, and a commitment to providing superior member service. The position requires the ability to work during branch hours, including Saturdays, and supporting other locations to meet needs across the branch network. Full-time branch employees are scheduled up to 40 hours per week.

Schedule:

• This position requires working a standard 40 hour week during Branch hours of operations
  
  
  
  • Monday - Thursday 8:30am - 5:45pm
  • Friday 8:00am - 6:15pm
  • Rotating Saturdays 8:30am - 1:15pm
  
  
  
  
• Employees work every other Saturday and receive a consistent day off during the week to offset their hours
• Scheduled hours could change based on business need and future department growth.

Pay & Benefits:

• This position starts at $25/hr depending on experience
• 100% Company-Paid Health, Dental, Vision, and Long-Term Disability Premiums
• Company-Provided Group Term Life Insurance Policy for full-time employees
• Up to 26 days of PTO within your first year, as well as Volunteer Time Off & 11 Paid Holidays
• 401(k) with a 2:1 Match
• Tuition Reimbursement
• Up to 12 Weeks of Paid Parental Leave

Work Arrangement: This position is scheduled for an onsite presence at the Lincoln Ave Branch. The address is 2727 N Lincoln, Chicago, Illinois 60614.

An offer of employment with MSU Federal Credit Union and affiliates is contingent upon the agreed work arrangement (onsite/hybrid/remote) and work location. MSU Federal Credit Union may or may not be able to accommodate temporary or permanent changes to work arrangements or allow employment outside the city and/or state of residency in which the new hire resides at the time of offered employment.

Essential Duties & Responsibilities:

• Provide superior member service by responding positively to lending and account inquiries with urgency, processing transactions and applications accurately and efficiently, personalizing interactions with recommendations of products and services specific to members' unique needs.
• Interview consumer loan and Visa applicants while providing information on products and services that best meet the applicant's needs. Request, verify, and deliver all appropriate documentation to the underwriting department.
• Analyze and interpret credit reports to assess financial risk and provide thorough information to inform lending decisions, ensuring compliance with relevant regulations and company policies.
• Identify and sell products and services, provide financial education to enhance the member experience, and consistently achieve individual and departmental goals.
• Utilize loan follow-up and outbound calling to further develop relationships with current members and loan applicants, offer products and services with measurable success, and ensure completeness and timelines of decisioning and funding of loans.
• Demonstrate proficiency in Credit Union product knowledge, services, and fintech partners.
• Utilize department and Credit Union procedures to mitigate risk and ensure that member requests and transactions are processed with accuracy, protecting members and the Credit Union from loss.
• Display adaptability and flexibility in meeting business needs based on member volume patterns at a branch or throughout the branch network.
• Utilize a variety of channels to ensure effective communication and collaboration within the branch, the Consumer Loan Center and throughout the Credit Union to foster a positive and professional relationship while enhancing overall service delivery.

• Actively promote and guide members in using Credit Union technology, enhancing their experience and empowering members to manage their finances with ease and confidence.
• Complete required departmental activities and trainings to ensure compliance with state and federal regulations and Credit Union policies.
• Adhere to safety and security procedures regarding emergency situations, third party access to secure areas, and promptly communicate suspicious activity to leadership.
• Follow established processes and guidelines in daily activities, adhering to all applicable laws and regulations, adapting to new information, technology platforms, handling ambiguity and adapting to change.
• Manage time efficiently and take initiative within the branch; seek opportunities to develop or enhance knowledge.
• Effectively handle escalations by taking ownership, de-escalating concerns with empathy and professionalism, and resolving issues to achieve superior service.
• Apply fraud detection strategies, taking steps to mitigate risks, protecting members and the Credit Union.
• Consistently meet or exceed established performance metrics, contributing to the Credit Union's goals and delivering a high standard of service.

Knowledge, Skills, and Abilities Required:

• Follow proper balancing and cash handling procedures
• Regular and predictable attendance
• Demonstrate company core values
• Ability to work scheduled hours including, weekend and overtime, when applicable
• Receptive to accepting and applying feedback
• Strong attention to detail
• Proficient in member service
• 3+ years customer service/sales experience or equivalent desired, with consumer lending experience preferred
• Knowledge of lending regulations, credit analysis, and loan origination processes
• Demonstrate comprehensive knowledge of consumer lending products, services, and processes
• Strong ability to analyze financial and credit data
• Excellent listening skills
• Professional business etiquette and presentation skills, including maintaining professional workspace
• Proficient in sales skills with identifiable results
• Critical thinking and problem-solving skills
• Effective verbal and written communication skills
• Effective teamwork and collaboration skills
• Skills in de-escalating and resolving escalating member situations
• Effective use of fraud detection and prevention techniques
• Adaptability and Flexibility
• Analytical skills and the ability to work independently
• Math and general clerical aptitude
• Ability to multitask and prioritize
• Reliable and dependable
• Functional knowledge of Credit Union or other financial institution systems, products, services, and procedures preferred
• High School Diploma or GED

Physical Demands & Work Environment:

• May be required to remain in a stationary position for an extended period of time
• Ability to operate standard office technology, equipment and tools, which may include many hours of computer and phone usage.
• Occasionally needs to move about inside of office area
• Exposure to potentially hazardous condition, i.e. robbery. Receives detailed instructions and procedures to be followed to minimize the exposure
• May be required to bend, reach, stoop, or perform other physical movements as necessary to access files, equipment, or other materials
• This position is able to work in onsite working arrangements

Disclaimer:

• Note this job description is not intended to be construed as an exhaustive list of all functions, responsibilities, skills, and abilities. Additional functions and requirements may be assigned by supervisors as deemed appropriate. This document does not represent a contract of employment, and MSU Federal Credit Union reserves the right to change this position description and/or assign tasks for the employee to perform, as MSUFCU may deem appropriate.
• MSUFCU is an affirmative-action, equal-opportunity employer.
• To perform this job successfully, an individual must be able to perform each essential job duty satisfactorily. Reasonable accommodations may be made to enable qualified individuals with disabilities to perform essential job functions.