Consumer Credit Specialist

Consumer Credit Specialist

At Bank of America, we are guided by a common purpose to help make financial lives better through the power of every connection. We do this by driving Responsible Growth and delivering for our clients, teammates, communities and shareholders every day. Being a Great Place to Work is core to how we drive Responsible Growth. This includes our commitment to being an inclusive workplace, attracting and developing exceptional talent, supporting our teammates' physical, emotional, and financial wellness, recognizing and rewarding performance, and how we make an impact in the communities we serve. Bank of America is committed to an in-office culture with specific requirements for office-based attendance and which allows for an appropriate level of flexibility for our teammates and businesses based on role-specific considerations. At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. Join us!

Job Description:

As a Consumer Credit Specialist you will be responsible for originating loans for clients with residential mortgage needs while serving as the primary lending specialist within the financial center. You will engage with clients in person and over the phone to deliver a variety of lending products, including First Mortgages, HELOCs, Auto Loans, Credit Cards, and Core Banking Products. Your role is key to building and deepening client relationships, balancing sales performance, operational risk, and the overall client experience.

Key Responsibilities:

• Offer clients customized assistance by providing guidance and advice on a wide variety of borrowing and banking products, tailored to each phase of the client's financial plan.
• Initiate loan applications for residential mortgage applicants, which include First Mortgage agreements and Home Equity Line of Credit options. Additionally, market alternative banking services like Vehicle Loans, Revolving Credit Lines, and Foundational Banking essentials.
• Examine the monetary needs of individuals and utilize your expertise in banking and credit products to suggest options that best match their aspirations.
• Evaluate and discuss different housing loan products, aiding individuals in completing the mortgage application journey by gathering essential documents and ensuring they are kept informed throughout each stage of the process.
• Establish client connections through outreach strategies and pipeline organization tasks, incorporating regular follow-up procedures to address client demands and nurture lasting connections.
• Respond to client requests, offer timely updates, and refer clients to relevant internal team members based on their specific financial needs.
• Work together with financial center leaders, performance managers, and market leaders to offer customized support and coaching to associates, ultimately leading to exceptional client experiences.
• Reduce operational risk by verifying that loan applications and procedures adhere to both company policies and regulatory frameworks.
• Engage client relationship management solutions to oversee sales results, customer interactions, and post-engagement procedures.
• Fulfillment of the SAFE Act registration criteria, which includes background verification and registration maintenance, is a fundamental requirement for the job at hand.

Required Qualifications:

• Mortgage origination experience of at least two years is a prerequisite for this position. Yet, individuals who have acted in the capacity of a Home Service Specialist II, Lending Client Associate, Lending Client Support Manager, Lending Specialist, Senior Banker, Business Solutions Advisor, or Financial Solutions Advisor at Bank of America for one year may alternatively fulfill this requirement
• Awareness of the standards for credit and mortgage qualification is necessary
• Engages proactively with clients by listening actively to their requirements and goals, demonstrating a commitment to meeting their needs.
• Demonstrates excellence in professional communication by confidently engaging with clients, showcasing comfort and proficiency in interactions, whether in-person or over the phone.
• Possessing critical thinking skills enables an individual to analyze financial and credit data in order to advise clients on product/pricing policies and guidelines and to gather any additional required information.
• Possesses excellent customer service skills, able to oversee the end-to-end client experience and provide effective solutions to any challenges.
• Competent in expressing ideas clearly through both written and verbal means.
• Aptitude for handling uncertain situations and being resilient to fluid conditions.
• Committed, eager, driven, and achievement-focused; displays a relentless pursuit of success.
• Open to working weekends and extended hours when the situation calls for it.
• A committed collaborator and team enthusiast, translating information and know-how into effective and fruitful relationships both internally and externally.
• Capability to learn and comprehend technological innovations.
• Expresses a firm commitment to professional ethics by methodically including relevant regulatory due diligence and complying with all Federal and State compliance regulations.

Desired Qualifications:

• Previous involvement in a financial institution where goals were consistently met or exceeded.
• Aptitude in deciphering and comprehending complicated financial data to provide alternative financial recommendations.
• Comprehension of the diverse banking products and services on the market.
• Competent in time management, organizing, prioritizing, and performing multiple tasks simultaneously.
• Practical skills in loan origination within a retail setup and proficient knowledge of Mortgage Products, which include Conventional, Jumbo, HELOC, and Government-related choices
• Procedures for organizing, processing, evaluating, and closing financial transactions
• Guidelines established at a national level that govern the borrowing and lending processes specific to real estate
• FHA and HUD rules play a crucial role in ensuring fair and equitable practices in the housing market
• Different Credit Facilities (Credit Card, Auto Loans)
• Proficient with MS software and experienced in utilizing laptop technology.

Skills:

• Client Management
• Client Solutions Advisory
• Directing attention towards the needs and desires of customers and clients is fundamental in service delivery
• Referral Identification
• Risk Management
• Client Experience Branding
• Credit Documentation Requirements
• The process of determining the likelihood of default and evaluating potential risks is encompassed by credit and risk assessment
• Pipeline Management
• Referral Management
• Attention to Detail
• Collaboration
• Issue Management
• Prospecting
• Relationship Building

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