Webster First Federal Credit Union
Indirect Funding Specialist
Webster First Federal Credit Union, Worcester, Massachusetts, us, 01609
Overview
Job Title: Indirect Funding Specialist Department: Consumer Lending Reports To: Assistant Vice President, Consumer Lending About Webster First Federal Credit Union
Established in 1928 and driven by a goal to make life more comfortable for our community, Webster First Federal Credit Union has grown to an over one-billion-dollar financial institution, serving over 90,000 members across our banking and lending services. Our mission is to leverage who we are as a credit union to empower our members to live their best financial lives. We focus on members, not profits, and our values of strength, exceptional service, and “New England authenticity” are at the heart of everything we do. We can’t do it without an exceptional workforce! With approximately 250 employees spread across 15 locations in Massachusetts, Webster First Federal Credit Union is committed to empowering a diverse and inclusive workforce that is representative of the community we serve. Our members come from all walks of life, and our staff reflects that diversity. We hire great people from a wide variety of backgrounds, not just because it’s the right thing to do, but because it makes us stronger. Summary
The Indirect Funding Specialist plays a key role in the end-to-end processing of indirect consumer loans. This position is primarily responsible for the accurate and timely booking, funding, and coordination with dealership partners. In addition to loan processing duties, the specialist provides operational support to ensure the smooth functioning of daily activities within the Loan Servicing team and the Consumer Lending Department. Essential Duties And Responsibilities
Receive, review, and process indirect loan packages with a focus on accuracy and efficiency. Conduct detailed quality control checks on loan documentation to ensure compliance with internal standards and regulatory requirements. Perform all loans funding transactions, including disbursements and related accounting functions. Initiate ACH payments to dealers and reconcile with the Accounting department as needed. Serve as a point of contact for indirect dealers and vendor partners, building and maintaining positive working relationships. Assist with dealer management activities, including onboarding, support, and performance monitoring. Provide exceptional service to members and internal stakeholders, addressing inquiries and offering routine loan assistance. Accurately quote loan payoff amounts to members, dealers (including trade-ins), and insurance companies. Process loan payoffs, pull and release vehicle titles, and complete all title-related documentation, including UCC-1 filings, lien release affidavits, and letters of guarantee. Manage and track vehicle titles using the Vin-TEK system, ensuring timely title processing and release. Support collateral protection insurance (CPI) processes, including adding and removing coverage, issuing refunds, recalculating payments, and notifying members. Process Skip-A-Pay requests and track related loan modifications. Monitor credit reports to support cross-selling and lending opportunities. Prepare delinquency files and forward relevant documentation to the Collections department. Generate monthly reports, such as Minnesota Life Insurance submissions, and process insurance claims, payments, and debt cancellation benefits. Perform various administrative and support tasks, including document scanning, filing, and sorting incoming mail. Assist in training and onboarding new staff members as needed. Ensure compliance with all credit union policies, procedures, and applicable regulations. Perform other duties as assigned to support department and organizational goals. Promotes overall BSA compliance by adhering to all BSA and OFAC regulations specific to the job function and assisting the Credit Union’s BSA department as necessary with any departmental function specific items. Actively promotes the security and privacy of member and employee information through adherence to both information security and physical security policies, procedures, and governing regulations. Training will be completed at least annually for Information Security topics, BSA, and GLBA; annual BSA training will be position specific. Annual training will also include courses on any of the following regulations as they relate to the position described herein: SAFE ACT, Regulations B, C, D, E CC, DD, and Z as well as any training deemed necessary to promote adherence to applicable regulatory requirements. Perform other duties as directed. Qualifications/Requirements
Strong ability to read, understand, and interpret written and verbal instructions. Skilled in clearly presenting information and effectively responding to questions from management, automobile dealers, and credit union members. Proficient in performing basic mathematical calculations, including addition, subtraction, multiplication, and division using whole numbers, fractions, and decimals. Demonstrated analytical thinking with the ability to identify issues, gather relevant data, evaluate facts, and draw logical conclusions. Education/Training Experience
High school diploma required; Associate degree or higher preferred. Minimum of one year of experience in credit union or banking environments, specifically in loan origination and underwriting. Prior experience in customer service and sales is highly valued. Physical Demands & Work Environment
This role primarily takes place in a professional office environment and involves sedentary work, at a desk or teller station, using a computer, and engaging in phone or video conversations. The noise level is generally moderate. Employees may need to sit or stand for extended periods, move about the office, and occasionally lift, push, pull, or carry items up to 20 pounds. Some repetitive motion including movements (motions) of the wrists, hands, and/or fingers. Employees are required to have visual acuity to perform activities such as transcribing, viewing and using a computer, and reading documents, as well as the ability to communicate verbally with colleagues, supervisors, members, and visitors. Reasonable accommodations will be provided as needed. Seniority level
Entry level Employment type
Full-time Job function
Finance and Sales Industries Banking
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Job Title: Indirect Funding Specialist Department: Consumer Lending Reports To: Assistant Vice President, Consumer Lending About Webster First Federal Credit Union
Established in 1928 and driven by a goal to make life more comfortable for our community, Webster First Federal Credit Union has grown to an over one-billion-dollar financial institution, serving over 90,000 members across our banking and lending services. Our mission is to leverage who we are as a credit union to empower our members to live their best financial lives. We focus on members, not profits, and our values of strength, exceptional service, and “New England authenticity” are at the heart of everything we do. We can’t do it without an exceptional workforce! With approximately 250 employees spread across 15 locations in Massachusetts, Webster First Federal Credit Union is committed to empowering a diverse and inclusive workforce that is representative of the community we serve. Our members come from all walks of life, and our staff reflects that diversity. We hire great people from a wide variety of backgrounds, not just because it’s the right thing to do, but because it makes us stronger. Summary
The Indirect Funding Specialist plays a key role in the end-to-end processing of indirect consumer loans. This position is primarily responsible for the accurate and timely booking, funding, and coordination with dealership partners. In addition to loan processing duties, the specialist provides operational support to ensure the smooth functioning of daily activities within the Loan Servicing team and the Consumer Lending Department. Essential Duties And Responsibilities
Receive, review, and process indirect loan packages with a focus on accuracy and efficiency. Conduct detailed quality control checks on loan documentation to ensure compliance with internal standards and regulatory requirements. Perform all loans funding transactions, including disbursements and related accounting functions. Initiate ACH payments to dealers and reconcile with the Accounting department as needed. Serve as a point of contact for indirect dealers and vendor partners, building and maintaining positive working relationships. Assist with dealer management activities, including onboarding, support, and performance monitoring. Provide exceptional service to members and internal stakeholders, addressing inquiries and offering routine loan assistance. Accurately quote loan payoff amounts to members, dealers (including trade-ins), and insurance companies. Process loan payoffs, pull and release vehicle titles, and complete all title-related documentation, including UCC-1 filings, lien release affidavits, and letters of guarantee. Manage and track vehicle titles using the Vin-TEK system, ensuring timely title processing and release. Support collateral protection insurance (CPI) processes, including adding and removing coverage, issuing refunds, recalculating payments, and notifying members. Process Skip-A-Pay requests and track related loan modifications. Monitor credit reports to support cross-selling and lending opportunities. Prepare delinquency files and forward relevant documentation to the Collections department. Generate monthly reports, such as Minnesota Life Insurance submissions, and process insurance claims, payments, and debt cancellation benefits. Perform various administrative and support tasks, including document scanning, filing, and sorting incoming mail. Assist in training and onboarding new staff members as needed. Ensure compliance with all credit union policies, procedures, and applicable regulations. Perform other duties as assigned to support department and organizational goals. Promotes overall BSA compliance by adhering to all BSA and OFAC regulations specific to the job function and assisting the Credit Union’s BSA department as necessary with any departmental function specific items. Actively promotes the security and privacy of member and employee information through adherence to both information security and physical security policies, procedures, and governing regulations. Training will be completed at least annually for Information Security topics, BSA, and GLBA; annual BSA training will be position specific. Annual training will also include courses on any of the following regulations as they relate to the position described herein: SAFE ACT, Regulations B, C, D, E CC, DD, and Z as well as any training deemed necessary to promote adherence to applicable regulatory requirements. Perform other duties as directed. Qualifications/Requirements
Strong ability to read, understand, and interpret written and verbal instructions. Skilled in clearly presenting information and effectively responding to questions from management, automobile dealers, and credit union members. Proficient in performing basic mathematical calculations, including addition, subtraction, multiplication, and division using whole numbers, fractions, and decimals. Demonstrated analytical thinking with the ability to identify issues, gather relevant data, evaluate facts, and draw logical conclusions. Education/Training Experience
High school diploma required; Associate degree or higher preferred. Minimum of one year of experience in credit union or banking environments, specifically in loan origination and underwriting. Prior experience in customer service and sales is highly valued. Physical Demands & Work Environment
This role primarily takes place in a professional office environment and involves sedentary work, at a desk or teller station, using a computer, and engaging in phone or video conversations. The noise level is generally moderate. Employees may need to sit or stand for extended periods, move about the office, and occasionally lift, push, pull, or carry items up to 20 pounds. Some repetitive motion including movements (motions) of the wrists, hands, and/or fingers. Employees are required to have visual acuity to perform activities such as transcribing, viewing and using a computer, and reading documents, as well as the ability to communicate verbally with colleagues, supervisors, members, and visitors. Reasonable accommodations will be provided as needed. Seniority level
Entry level Employment type
Full-time Job function
Finance and Sales Industries Banking
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