Consumer Credit Loan Specialist at Fifth Third Bank

Cincinnati, Ohio, United States

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Not SpecifiedCompensation

Junior (1 to 2 years), Mid-level (3 to 4 years)Experience Level

Full TimeJob Type

UnknownVisa

Banking, Financial ServicesIndustries

Requirements

Full-time availability
Expert knowledge of equity and non-equity lending products, services, procedures, policies, and increased efficiencies
Ability to understand and review personal and business tax returns and other income documents
Ability to understand and review vendor documents (title, appraisal, flood, verification of employment, etc.)
Strong customer service skills, including proactive communication via phone and email
Ability to work independently to research and resolve complex issues involving interpretation of bank policies and procedures
Ability to meet quality, handle time, and aux/adherence standards
Experience or capability to mentor and train less experienced Loan Specialists
Ability to assist with training and onboarding of new Loan Specialists
Serve as Consumer Lending Representative in reviewing updates to existing procedures

Responsibilities

Perform pre-underwriting and processing duties for consumer equity and non-equity loan applications
Review and validate complex underwriting stipulations
Provide accurate, clear, and concise information to external customers via phone and email for a superior lending experience
Act as primary loan facilitator for external customers to meet workflow deadlines and service level agreements
Move loan files through the pipeline, updating files and systems as work progresses
Partner with internal departments to escalate and resolve issues
Proactively contact customers to collect documents needed for underwriting (e.g., income documentation, trust information)
Explain products and policies clearly to ensure customer understanding
Evaluate loan documentation, review income documents, analyze data, and clear conditions per delegated authority
Translate internal communications to customers professionally, accurately, and timely
Act as active liaison between clients, underwriting, and financial centers
Actively manage pipeline of consumer loan applications
Field inbound calls from internal and external customers
Communicate unexpected issues or needs to internal and external customers
Maintain high level of customer service through proactive communication with borrowers and loan originators
Serve as escalation point for questions pertaining to documents needed for loan products
Ensure accurate, complete, and timely loan data in processing and underwriting systems
Support retail business partners with consumer loan applications
Accurately enter issues into CIT for routing, tracking, and resolution per standard processes
Respond to complex questions from banking centers on products, systems, and operational procedures
Complete call tracking and support documentation as required
Act as Trusted Advisor, educating customers and bankers proactively
Identify, assess, manage, monitor, and report risks

Skills

Key technologies and capabilities for this role

Loan ProcessingPre-UnderwritingDocument VerificationIncome AnalysisCustomer ServiceRisk ManagementData AnalysisPhone InteractionEmail CommunicationUnderwriting Stipulations

Questions & Answers

Common questions about this position

Is this a remote position or does it require office work?

This information is not specified in the job description.

What is the salary or compensation for this role?

This information is not specified in the job description.

What key skills are required for the Consumer Credit Loan Specialist role?

Key skills include reviewing and validating underwriting stipulations, evaluating loan documentation and income documents, understanding personal and business tax returns, reviewing vendor documents like title and appraisal, and providing clear customer communication via phone and email.

What is the company culture like at Fifth Third Bank?

The culture emphasizes doing the right thing for customers and colleagues, driving positive customer experiences, achieving results while managing risks, and continually improving customer service for internal and external customers.

What makes a strong candidate for this position?

Strong candidates excel in proactive customer communication, accurately evaluating complex loan and income documentation, acting as a liaison between clients and internal teams, and maintaining expert knowledge of loan processing systems.

Fifth Third Bank

Provides banking, loans, and wealth management services

About Fifth Third Bank

Fifth Third Bank offers a variety of financial services, including personal and business banking, loans, mortgages, credit lines, and insurance products. Their services cater to individual consumers, small businesses, and commercial clients, providing comprehensive solutions for managing finances. The bank generates revenue through interest on loans, service fees, and commissions from insurance and investment products. Unlike many competitors, Fifth Third Bank emphasizes community engagement and financial education, providing resources to help clients improve their financial literacy. The goal of Fifth Third Bank is to support clients in achieving their financial objectives while fostering a strong connection with the communities they serve.

Cincinnati, OhioHeadquarters

1858Year Founded

IPOCompany Stage

Social Impact, Financial ServicesIndustries

10,001+Employees

Benefits

Health Insurance

Paid Sick Leave

Paid Holidays

Performance Bonus

Flexible Work Hours

Risks

Rising interest rates may decrease demand for loans and mortgages.

Competition from fintechs like Robinhood threatens Fifth Third's wealth management sector.

Sophisticated cybersecurity threats pose risks to customer data and trust.

Differentiation

Fifth Third Bank offers comprehensive financial solutions for individuals and businesses.

The bank emphasizes community engagement and financial education for client empowerment.

It provides a wide range of insurance products, including life, health, and disability.

Upsides

Increased demand for digital banking boosts Fifth Third Bank's online service offerings.

Partnerships with fintech enhance technological capabilities and customer experience.

Growing interest in sustainable finance attracts environmentally conscious customers.

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