Indirect Lending Specialist

Position Summary:

The Indirect Lending Specialist processes Indirect Lending loan applications, opens new membership savings accounts, and coordinates information with automobile dealers under the direction of the AVP, Indirect Lending in conformance with established Credit Union policies and procedures.

Primary Responsibilities:

Performs functions, within scope of authority and expertise, to provide the highest level of service and responsiveness to members served by the Credit Union.

1. Serves as a quality control analyst in review of all indirect lending contracts received for funding by automobile dealerships. Scrutinizes all application and loan documents received to ensure the file is complete and uses judgment to identify any potential problems or errors.

2. Acts as a general liaison with automobile dealerships regarding the status of loan applications and answers any questions regarding application status and/or contract issues.

3. Logs communications with automobile dealerships for loans as needed.

4. Ensures proper payment of loans to the automobile dealerships by completing administrative and data entry to the loan system in a timely manner. Confirms the correct loan information including amounts, rates, terms, etc. to complete funding.

5. Creates and sends daily funding statements to each automobile dealership for loans processed.

6. Processes and enters Credit Union gap policies into the claims management system.

7. Performs related loan processing, clerical, and administrative duties as required or assigned including opening new membership savings accounts.

8. Reviews, balances, and makes any necessary corrections to the Indirect Lending general ledger.

9. Scans and electronically files loan documents to the loan system.

10. Ensures time management in daily tasks to guarantee task and funding are completed in a timely fashion.

11. Adheres to all LCU policies and procedures. Responsible for compliance with the following regulations: BSA, OFAC, and other regulations as required.

Secondary Responsibility:

12. Provides backup to the Consumer Lending department as needed.

13. Responds to general loan inquiries from members and employees.

Work-Life Balance, Benefits & Compensation:

We understand the importance of work-life balance, and our programs give employees peace of mind. Employees at Leominster Credit Union are offered a comprehensive, affordable, and competitive benefits package including a rich 401K plan offering 100% of the first 5% 401K Match contribution and 3% 401K Safe Harbor contribution. Please review our full benefits package at leominstercu.com/careers. 

The salary range for this role is between $18.55 and $23.19. Actual compensation will be determined based on experience and other factors as permitted by law. This position is eligible to work remotely up to 2 days per week after 3 months of hire in accordance with the Work From Home guidelines. 

High School diploma or equivalent. At least one year experience in a customer service, clerical, or administrative position is required. Prior financial institution experience is preferred. Must be detail oriented and have good organizational, time management, and customer service skills. Must be comfortable contacting dealership representatives through various communication channels including over the phone. Must be comfortable working with others to meet deadlines and gain cooperation. Knowledge of PC software and ability to utilize various types of office equipment, including computer terminal.

Employees are expected to exhibit LCU’s core values, You’re Somebody, Own It, Work Together, Be Caring, in all interactions with internal and external members to achieve the credit union’s goals and support a culture of inclusion