Retail Lending Support Specialist

Merchants Bank has an opening for a Retail Lending Support Specialist.  This position can work from any of the Merchants Bank locations in MN and WI.

Duties for this role include underwriting, processing, and loan documentation fulfillment for consumer loans and credit card applications received via Universal Bankers, Credit Card Staff, and Online.  Must have a thorough understanding of consumer loan documentation; understand and adhere to loan policy; understand and adhere to regulatory compliance, accurately complete required disclosures and required reporting.  This position will work collaboratively with retail staff.

Requires excellent communication skills, ability to work in a self-directed manner with excellent time management skills, and solid analytical and decision-making skills.  Minimum 2 years’ experience in retail lending.

Please click on Apply Now or apply in person at any Merchants Bank location. Questions can be emailed to hr@merchantsbank.com. Merchants Bank is an Equal Opportunity Employer of women, minorities, protected veterans and individuals with disabilities.

Job Summary:

This position will be responsible for underwriting, processing, and loan documentation fulfillment for consumer loans and credit card applications received via Universal Bankers, Credit Card Staff, and Online.  Priority must be given to providing exceptional customer service. Must have a thorough understanding of consumer loan documentation; understand and adhere to loan policy; understand and adhere to regulatory compliance, accurately complete required disclosures and required reporting.  Work collaboratively in an expedient and efficient manner with retail sales staff, and if needed, in an advisor capacity.      

Key responsibilities:

• Ethics:

• Maintain strict customer confidentiality at all times both on the job and off the job in the community.  

• Provide exceptional customer service:

• Review applications in a timely manner according to Service Level Agreements
• Process applications in Decision Pro
• Clearly communicate with customer and/or retail sales or credit card staff regarding supporting documentation needed to underwrite requests
• Clear and frequent communication with retail sales or credit card staff to keep them informed of progress being made on requests
• Handle concerns and complaints promptly and professionally and take appropriate action to resolve them quickly

• Loan Processing and Underwriting:
  • Review and process loan applications in Decision Pro
  • Assess applicants’ eligibility based on financial status, credit, income, property and other relevant factors
  • Order evaluations/appraisals
  • Obtain NADA values
  • Order UCC searches
  • Order title search
  • Order flood determinations
  • Obtain appropriate hazard and/or flood insurance
  • Make informed decisions (approve/decline) regarding loan approvals or denials, in accordance with approved lending authority and sound lending practices as set forth in Bank policies and procedures
  • Seek appropriate approval for loans outside lending authority and policy guidelines
  • When appropriate and within approved level of authority, approve exceptions to loan policy with consideration that exceptions should be kept to a minimum
  • Provide alternative solutions for applicants where appropriate
  • Provide recommended decision to frontline retail sales staff
  • If applicable, process denial letters and send to applicant

• Loan Documentation:
  • Prepare required loan documentation in Laser Pro
  • Be accurate and timely
  • Prepare and provide closing documents to frontline retail sales staff or provide to applicants via DocuSign

• Post Closing:
  • Complete HMDA reporting
  • Obtain final title work
  • Work with retail sales staff to obtain items needed to clear any outstanding exceptions

• Risk Management and Compliance
  • Complete all required compliance training on time, as outlined in our policies and procedures.
  • Participate as needed/requested in audits and other regulatory duties
  • Maintain knowledge of and adheres to all applicable laws and regulations and policies and procedures relevant to retail consumer lending and Merchants Bank
  • Maintain excellent fraud prevention and resolution procedures at all levels

• Adherence to company mission, values & goals
• Contribute to a positive working environment through words and actions
• Complete all company culture training as assigned
• Complete other duties as assigned

• Community Engagement

• Participate in community activities to actively promote the bank.

Minimum Qualifications:

• Excellent communication skills required, including strong verbal and written communication skills, including phone, email and internal instant messaging
• Strong technology skills: proven ability to learn and master multiple software systems.
• Strong financial acumen, and an ability to explain and advise frontline retail sales staff on financial considerations
• Proven success working in a self-directed manner, with strong time management skills
• Proactively manage schedule, follow through as promised, address challenges and identify opportunities for improvement
• Solid analytical, organizational, problem solving and decision-making skills
• Ability to multi-task and work on various duties with frequent interruptions

Working Conditions:

Work will be performed while sitting at a desk, with a very low degree of lifting. Lifting will generally not require over 10 pounds in weight or pressure. Work involves sitting most of the time; position is defined as sedentary.  Inside working environment, low noise level.  Very pleasant surroundings. Extensive terminal and PC work will require good finger/eye coordination and dexterity.  Requires individual with above-average aptitude in reasoning, intelligence, and clerical perception.  Requires individual with ability to interact with internal and external customers primarily on telephone and through correspondence.

Mental Demands/Skill Requirements:

This position requires a high degree of intellectual ability, including strong computer and financial acumen, as well as strong human relationship building and conflict resolution skills. Also requires an ability to maintain the utmost level of professionalism while engaging with customers and coworkers on highly sensitive and emotionally charged topics.

Retail Loan Support Specialist I – Monitors/triages workload within software system, performs administrative tasks within the department operating system relative to requested work, and ability to process and underwrite non-real estate secured loan applications.  Understands and has ability to prepare non-real estate secured loan documentation and provide to frontline staff for face-to-face signing or via DocuSign to the customer.  Minimum 2 years’ experience in retail lending.

Retail Loan Support Specialist II – Knowledge and experience to process and underwrite all retail loan types (real estate secured and non-real estate secured).  Thorough understanding of and ability to prepare required documentation and disclosures that meet regulatory requirements and timing for all retail loan types.  5+ years of proven success in consumer lending including second mortgage activity.