Funding Services Specialist

Overview

Under the direction of the Funding Services Supervisor or Funding Services Assistant Manager, this position is accountable for processing and funding loan packages through the Consumer Lending channel by performing audits and verification of employment or income, satisfying stipulations, new account and loan creation, disbursing funds, and preparing documents for imaging while providing excellent service to meet credit union standards. This position supports the credit union by complying with established policies and procedures to achieve organizational goals.

Incoming/Outgoing Phone Calls or Emails: 50 to 150 daily

Initial Contact on Assigned Applications: 10-15 Borrowers daily

Funding Package Processing and Auditing: 5 to 15 daily

New Accounts and Loan Fulfillment:
Per CCCU Operating Plan or Market Volumes

Loan Protection Product Sales:
Per Operating Plan

Loan Audit Quality Requirements:
Minimal errors; consistently within internal audit tolerance

Report Generation and Review: 1-3 reports weekly (FSS II and above)

The incumbent reports directly to the Funding Services Supervisor or Funding Services Assistant Manager. There are no direct reports to this position.

Funding Services Specialist I

• Handles incoming and outgoing phone calls to assist Borrowers, internal credit union staff, Dealers, and Lien Holders. Communicates via email and web chat when appropriate.
• Performs thorough pre-funding reviews to mitigate risk. Gathers items from Borrower, Dealer, Leasing Company, or Lien Holder; reviews to ensure all documentation is present and accurate. Satisfies Loan Officer stipulations prior to funding. When items are missing or inconsistent, makes contact to obtain.
• Performs basic Proof of Income (POI) via non-tax return items such as a pay stub or direct deposit. When necessary, performs Verification of Employment (VOE) inquiries by phone, email, or fax.
• Offers credit union protection products. Ensures applicable qualifications are met, that forms and disclosures are complete, and policies are issued through appropriate vendor sites.
• Processes and funds consumer loans submitted through various delivery channels to include autos, recreational vehicles, motorcycles, personal loans, and credit cards per established policies. Opens new accounts for non-members per guidelines when necessary.
• Prepares new account and loan documents for in-branch or electronic signatures. Ensures all documents are accurate and complete.
• Disburses loan proceeds via Cashier’s Check or deposit to internal account. Notifies Borrower of loan funding completion via phone, email, or web chat.
• Generates barcodes and prepares membership and loan documents for imaging.
• For collateralized loan fundings, processes DMV documentation accurately, ensuring CCCU is listed as Lien Holder. Completes internal checklists and forwards to the Loan Servicing department within the expected timeframe.
• Issues DYD checks to qualifying members by verifying approval information, confirming stipulations are satisfied, and printing proper disclosures for branch staff.
• Performs steps to ensure Bank Secrecy Act (BSA) and Anti-Money Laundering (AML) compliance to reduce risk to the credit union.
• Maintains accuracy within established expectations. Performs assigned work with minimal errors, avoiding negative impact to Dealers, Borrowers, internal staff, or CCCU’s financials and reputation.
• Meets or exceeds service levels and organizational goals per the credit union’s Operating Plan.
• Maintains knowledge of loan documents, products, credit union services, systems, delivery channels, policies, and procedures.
• Makes recommendations for workflow efficiencies or procedure enhancements.
• Performs other relevant administrative duties as required.

Funding Services Specialist II (all above, plus)

• Assists with the review and/or development of training materials and scheduled shadowing sessions for Branch or MSC staff. Participates with materials review and lending-related training courses facilitated by L&QS.
• With management’s approval, places department supply orders remaining within pre-established budget guidelines.

Funding…