BMO Financial Group.
Consumer Lending Operations Underwriter II
BMO Financial Group
The Consumer Lending Underwriter II is an experienced underwriter. This position has developed and maintains an extensive understanding of complex underwriting, data and trends. The Consumer Lending Underwriter II acts as Service Champion back-up when needed to assist Sales & Operation. This Underwriter is required to work effectively with team members to maximize customer service.
(60%) Credit Decisions
Approve loans and concurrences up to pre-approved lending limits
Consumer Loan Quality/Documentation
Assures compliance with all regulations
(5%) Developing Business Relationships
Credit/Lending, Approve or Decline loans â€“
This job has the credit authority to exercise lending limits to approve quality deals that exceed subordinatesâ€™ discretionary limits.
$100,000 Secured/$10,000 Unsecured
- Based upon individual Lending Limits as delegated under the Qualification Process.
â€“ This position has authority to access and utilize customer and financial information
â€“ Based on analysis of audit results this person has the ability to adjust origination processes, upon management approval, to eliminate a deficiency
Evaluate debt ratio, loan-to-value ratio, property valuation as well as other factors to determine creditworthiness
Evaluate and structure loan requests, determining appropriate documentation for approved loans
Evaluate financial risk in conformance with underwriting policies, procedures and methodologies
Assessing loan attributes and documentation for soundness
Analyze and review the file for accuracy, thoroughness and completeness
Know the red flags and ensure that issues that fall outside of the Bankâ€™s and regulatory guidelines are reviewed and escalate questionable issues to management for further review and decisioning.
Provide excellent customer service to the sales channel network through professional written and verbal communication and teamwork
Identify and professionally communicate any areas of improvement needed relating to application
Ensure needs are met or exceeded by resolving complaints in a timely manner
Optimize opportunities by referring cross-sales to the appropriate sales LOB
To deliver on these accountabilities, the incumbent must have the following authorities:
Credit/Lending, Approve or Decline loans to Lending Limit
Access to customer information - this information should only be accessed when needed for information in conjunction with a loan application.
Empowerment â€“ Authority to take action within limitations as established by the business unit management and the incumbent.
The job is accountable for collateral security, risk management and the maintenance of internal and external control standards and effectively employing managerial accountabilities and authorities. This job has direct impact on the achievement of key business unit objectives.
Key measures are as follows: Productivity and performance measurements: Number of processed loan applications, turn-around time, exceptions, team work, and adaptability. Number of processed applications is dependent upon volume. Expected turn-around time is one hour or less. Applications should be underwritten with minimal errors.
Additionally, this role requires the individual to consistently contribute to their goal of Consumer Direct Lending while adhering to all bank defined policies for dress, attendance, continuing education and security directives.
Knowledge and Skills
Bachelors or equivalent work experience with a Mortgage Lender or Financial Institution
5 years of underwriting experience required in retail loan products
Expert knowledge of lending/compliance regulations, underwriting guidelines and credit qualifications
Well-organized, energetic, self-starter with strong research and analytical skills
Strong analytical skills
Critical thinking skills
Excellent customer and customer service (written and oral) skills
Solid PC navigation skills including MS Office application such as Office, Excel, Word, etc
Weâ€™re here to help
At BMO Harris Bank we have a shared purpose; we put the customer at the center of everything we do â€“ helping people is in our DNA. For 200 years we have thought about the futureâ€”the future of our customers, our communities and our people. We help our customers and our communities by working together, innovating and pushing boundaries to bring them our very best every day. Together weâ€™re changing the way people think about a bank.
As a member of the BMO Harris Bank team you are valued, respected and heard, and you have more ways to grow and make an impact. We strive to help you make an impact from day one â€“ for yourself and our customers. Weâ€™ll support you with the tools and resources you need to reach new milestones, as you help our customers reach theirs. From in-depth training and coaching, to manager support and network-building opportunities, weâ€™ll help you gain valuable experience, and broaden your skillset.
To find out more visit us at ~~~/
BMO Harris Bank is committed to an inclusive, equitable and accessible workplace. By learning from each otherâ€™s differences, we gain strength through our people and our perspectives. BMO Harris Bank is an Equal Opportunity Employer for all, inclusive of Minorities, Women, Veterans, and Persons with Disabilities.
Retail Lending & Mortgages
United States-Wisconsin-West Allis
BMO Financial Group.
Website : http://www.bmo.com
Established in 1817, BMO Financial Group serves more than 12 million personal, commercial, corporate and institutional customers in North America and internationally.