Job Title: Lending Quality Assurance Analyst
Location: United States-IL-Chicago
What will your day look like?
You will support all Lending Lines of Business (Residential, Commercial, and Consumer) with thorough inspection and validation of loan assets generated by origination, underwriting, and processing functions internally and externally. The Lending Quality Assurance Analyst establishes loan origination and underwriting work-product review procedures and sampling regimes sufficient to ensure compliance with and investor established guidelines and requirements. The incumbent will work closely with line of business subject matter experts on documentation improvements; tests and validates processes, procedures, and systems changes prior to full implementation. The Analyst will monitor and measure the daily work-product of vendors and business partners as necessary to ensure adherence to standards and services level requirements. General direction is received from the Supervisor, Lending Quality Assurance.
Do you see yourself doing this?
Loan Quality Review
- Develop a routinized process and checklist for loan level QA review
- Conduct loan level file quality reviews to ensure compliance with regulatory and other investor loan quality requirements.
- Determine both pre-funding and post-funding sampling methodology for the quality reviews
- Identify and document quality shortfalls and deficiency patterns that may impact overall loan salability. Record, measure and report findings to Lending Management.
- Identify checkpoints and opportunities for improvement of current processes that will increase loan quality and advance efficiency and consistency. Make recommendations to Lending Management.
- Communicate and act as the liaison between third parties and .
- Conduct ongoing review of user documentation and training materials for accuracy and consistency; update as required.
- Maintain knowledge on loan underwriting and industry best practices; determine applicability for the credit union and as appropriate share across lending department.
- Partner with the Lending Line of Business leaders to ensure compliance and quality of internal and third-party provider processes meet ’s established guidelines and lending best practices as identified from loan quality reviews.
- Monitor credit union industry loan trends and keeps abreast of technological changes and opportunities within the lending area.
What makes you a great fit?
You’ll be a great fit if in addition to the completion of a Bachelor’s degree in Business, Finance or a related field, required, and you have:
- Minimum 1-year Quality Assurance experience working for a financial institution; or an equivalent combination of training and experience
- Comprehensive knowledge of mortgage, commercial, and consumer loan origination processes, policies and procedures
- Previous experience working as an underwriter preferred
- Proficient with Microsoft Office Suite including: Word, Excel, PowerPoint and Outlook
- Strong team player with demonstrated initiative
- Excellent customer service skills
- Excellent organizational skills with ability to multitask in a fast-paced environment
- Strong written and oral communication skills
- Strategic thinker with proven analytical ability and has strong attention to detail
- Demonstrated effectiveness in managing multiple priorities and meeting deadlines in a fast-paced environment; flexibility with changing priorities on a daily basis
- Demonstrated commitment to quality and continuous improvement
When you’re happy, we’re happy!
As a thank you for joining our team, you’ll benefit from:
- Competitive medical, dental, and free vision benefits
- Competitive compensation plan
- Contributions towards gym memberships