Provide introduction to Credit Union's history, culture and mission
2
Provide walkthrough of Credit Union's products and services
3
Training on banking rules and regulations
4
Introduction to Loan Processor's role and responsibilities
5
Training on Credit Union's loan processing software
6
Detailed review of loan application process
7
Customer service training
8
Training on handling confidential customer information
9
Shadow a senior loan processor for hands-on training
10
Train for dealing with exceptions and difficult cases
11
Familiarize with compliance and risk management protocols
12
Understand how to conduct credit and title searches
13
Learn how to verify loan documents
14
Learn how to liaise with loan underwriters and loan originators
15
Approval: Training Completion
16
Issue official email id and access to necessary systems
17
Setup workstation
18
Introduction to team and key personnel
19
Assign a mentor for further assistance
20
Set performance goals and understand evaluation process
Provide introduction to Credit Union's history, culture and mission
In this task, provide an overview of the Credit Union's history, culture, and mission statement. Explain how the Credit Union was established and its core values. Discuss how the Credit Union's mission aligns with serving its members and the community. What impact does the Credit Union's history, culture, and mission have on the Loan Processor's role? How can understanding these aspects help in better serving members? What resources or tools can be used to effectively educate new loan processors about the Credit Union's history, culture, and mission?
Provide walkthrough of Credit Union's products and services
In this task, provide a comprehensive walkthrough of the Credit Union's products and services. Highlight the different types of loans offered by the Credit Union, such as personal loans, auto loans, and home loans. Explain the features and benefits of each loan product. Discuss the variety of banking services available, including savings accounts, checking accounts, and online banking. How does this knowledge about the Credit Union's products and services impact the Loan Processor's role? How can understanding these offerings help in providing excellent customer service? What resources or tools can be used to effectively educate new loan processors about the Credit Union's products and services?
Training on banking rules and regulations
In this task, provide training on the banking rules and regulations that Loan Processors must adhere to. Explain the importance of compliance with laws such as the Fair Credit Reporting Act (FCRA), Equal Credit Opportunity Act (ECOA), and the Bank Secrecy Act (BSA). Discuss the requirements for handling sensitive customer information, including personally identifiable information (PII) and Know Your Customer (KYC) procedures. What potential challenges may Loan Processors face in ensuring compliance with banking rules and regulations? How can these challenges be overcome? What resources or tools can be used to provide effective training on this topic?
Introduction to Loan Processor's role and responsibilities
In this task, provide an introduction to the Loan Processor's role and responsibilities. Explain the importance of the Loan Processor in the loan application and approval process. Discuss the tasks and responsibilities involved, such as reviewing loan applications, verifying documents, and liaising with loan underwriters and loan originators. What impact does the Loan Processor have on the overall loan processing workflow? What skills and qualities are necessary for success in this role? What resources or tools can be used to effectively educate new loan processors about their role and responsibilities?
Training on Credit Union's loan processing software
In this task, provide training on the Credit Union's loan processing software. Walk new loan processors through the various features and functionalities of the software. Explain how to input and update loan application information, generate loan estimates and disclosures, and track the status of loan applications. How does proficiency in using the loan processing software impact the Loan Processor's efficiency and accuracy? What potential challenges may loan processors face when using the software? How can these challenges be addressed? What resources or tools can be used to provide effective training on the software?
Detailed review of loan application process
In this task, provide a detailed review of the loan application process. Explain each step involved, from initial application submission to loan approval or denial. Discuss the documentation required for different types of loans and the criteria used for determining eligibility. How does a thorough understanding of the loan application process benefit the Loan Processor's efficiency and decision-making? What potential challenges may Loan Processors encounter when reviewing loan applications? How can these challenges be mitigated? What resources or tools can be used to provide comprehensive training on the loan application process?
Customer service training
In this task, provide training on customer service skills specific to the Loan Processor role. Discuss the importance of professional and empathetic communication when interacting with loan applicants. Explain how to handle challenging or difficult customer situations, such as loan denials or delays. How can excellent customer service contribute to the overall success of the loan processing workflow? What strategies or techniques can be employed to provide exceptional customer service? What resources or tools can be used to provide effective customer service training?
Training on handling confidential customer information
In this task, provide training on handling confidential customer information. Explain the importance of safeguarding personal and financial data in accordance with privacy laws and regulations. Discuss the procedures for securely storing and transmitting sensitive information. How does proper handling of confidential customer information impact the Loan Processor's adherence to compliance and risk management protocols? What potential challenges may Loan Processors face when handling this information? How can these challenges be addressed? What resources or tools can be used to provide effective training on this topic?
Shadow a senior loan processor for hands-on training
In this task, arrange for new loan processors to shadow a senior loan processor for hands-on training. Provide opportunities for observation and hands-on participation in the loan processing workflow. Encourage new loan processors to ask questions and seek guidance from the senior loan processor. What knowledge and skills can be gained through shadowing a senior loan processor? What potential challenges may arise during the shadowing process? How can these challenges be overcome? What resources or tools can be used to facilitate hands-on training?
Train for dealing with exceptions and difficult cases
In this task, provide training on how to handle exceptions and difficult cases in the loan processing workflow. Discuss scenarios that may deviate from the standard process, such as incomplete documentation or discrepancies in credit history. How can Loan Processors effectively address these exceptions and difficult cases? What strategies or techniques can be employed to find solutions and ensure compliance while working with challenging situations? What resources or tools can be used to provide effective training on handling exceptions and difficult cases?
Familiarize with compliance and risk management protocols
In this task, familiarize new loan processors with the compliance and risk management protocols in place at the Credit Union. Explain the importance of adherence to these protocols in ensuring legal and ethical loan processing practices. Discuss the procedures for identifying and mitigating potential risks, such as fraud or non-compliance with regulations. How does familiarity with compliance and risk management protocols benefit the Loan Processor and the Credit Union as a whole? What potential challenges may Loan Processors face in adhering to these protocols? How can these challenges be addressed? What resources or tools can be used to provide effective training on this topic?
Understand how to conduct credit and title searches
In this task, train new loan processors on how to conduct credit and title searches. Explain the importance of these searches in assessing creditworthiness and ensuring clear title for collateral. Discuss the tools and resources available to conduct these searches, such as credit bureaus and title companies. How does proficiency in conducting credit and title searches impact the Loan Processor's ability to make informed decisions? What potential challenges may arise when conducting these searches? How can these challenges be addressed? What resources or tools can be used to provide effective training on this topic?
Learn how to verify loan documents
In this task, teach new loan processors how to verify loan documents. Explain the importance of verifying the accuracy and authenticity of loan documents, such as pay stubs, tax returns, and bank statements. Discuss the procedures and tools available to verify these documents, such as contacting employers or financial institutions. How does proficiency in verifying loan documents impact the Loan Processor's ability to make informed decisions? What potential challenges may arise when verifying loan documents? How can these challenges be addressed? What resources or tools can be used to provide effective training on this topic?
Learn how to liaise with loan underwriters and loan originators
In this task, train new loan processors on how to effectively liaise with loan underwriters and loan originators. Explain the importance of clear and timely communication with these stakeholders in the loan processing workflow. Discuss the information and documentation required for collaboration, as well as the channels of communication available. How does proficiency in liaising with loan underwriters and loan originators impact the Loan Processor's ability to ensure a smooth loan approval process? What potential challenges may arise in these interactions? How can these challenges be addressed? What resources or tools can be used to provide effective training on this topic?
Approval: Training Completion
Will be submitted for approval:
Provide introduction to Credit Union's history, culture and mission
Will be submitted
Provide walkthrough of Credit Union's products and services
Will be submitted
Training on banking rules and regulations
Will be submitted
Introduction to Loan Processor's role and responsibilities
Will be submitted
Training on Credit Union's loan processing software
Will be submitted
Detailed review of loan application process
Will be submitted
Customer service training
Will be submitted
Training on handling confidential customer information
Will be submitted
Shadow a senior loan processor for hands-on training
Will be submitted
Train for dealing with exceptions and difficult cases
Will be submitted
Familiarize with compliance and risk management protocols
Will be submitted
Understand how to conduct credit and title searches
Will be submitted
Learn how to verify loan documents
Will be submitted
Learn how to liaise with loan underwriters and loan originators
Will be submitted
Issue official email id and access to necessary systems
In this task, issue new loan processors official email ids and access to necessary systems. Provide them with their official email addresses and instructions for accessing and using the required systems, such as the loan processing software and document management tools. How does having an official email id and access to necessary systems impact the Loan Processor's ability to carry out their responsibilities? What potential challenges may arise during the issuance process? How can these challenges be addressed? What resources or tools can be used to facilitate the issuance of email ids and system access?
Setup workstation
In this task, assist new loan processors in setting up their workstations. Provide guidance on ergonomics and ensuring a comfortable and efficient workspace. Discuss the required hardware and software, such as computers, monitors, and productivity tools. How does a properly set up workstation contribute to the Loan Processor's productivity and well-being? What potential challenges may arise during the setup process? How can these challenges be addressed? What resources or tools can be used to provide assistance in setting up workstations?
Introduction to team and key personnel
In this task, introduce new loan processors to their team and key personnel. Provide an overview of the Loan Processing team structure and the roles of key personnel, such as the Loan Processing Manager and Senior Loan Processors. What impact does familiarity with the team and key personnel have on the Loan Processor's ability to collaborate and seek support? How can introductions be facilitated and relationships fostered? What resources or tools can be used to provide information and introductions to the team and key personnel?
Assign a mentor for further assistance
In this task, assign a mentor to new loan processors for ongoing assistance and support. Pair them with an experienced Loan Processor who can provide guidance, answer questions, and offer advice throughout their onboarding period. How does having a mentor benefit the new loan processors and the overall onboarding process? What potential challenges may arise in the mentorship relationship? How can these challenges be addressed? What resources or tools can be used to support the mentorship program?
Set performance goals and understand evaluation process
In this task, set performance goals with new loan processors and explain the evaluation process. Discuss the specific performance metrics and targets relevant to the Loan Processor role. Explain how performance will be measured and evaluated, including any performance review periods or milestones. How does setting performance goals and understanding the evaluation process help in tracking progress and professional growth? What potential challenges may arise in setting goals and evaluating performance? How can these challenges be addressed? What resources or tools can be used to facilitate goal setting and performance evaluation?
