Family Loan Development Officer

Apr 15, 2024

About Us:

London Community Credit Union is a community-focused financial institution committed to empowering individuals and families to help reduce poverty and increase financial resilience within Hackney, Haringey, Islington, Newham, Tower Hamlets, Waltham Forest and the City of London. We provide a range of financial products and services tailored to the unique needs of our members, fostering financial inclusion and stability within the community.

Overview:

We are seeking a dedicated and motivated individual to join our team as a Family Loan Development Officer. We have launched our Family Loan and are looking for an individual with a solid all-round business background with the desire to prove their knowledge by continuing the development and growth of our Family Loan.

In this role, you will be responsible for developing promoting and facilitating family loans within our credit union.

Family Loans are very popular in many credit unions across England.

Our Family Loan is available to everyone who is eligible for membership of London Community Credit Union who receives child benefit. The loan allows the applicant to apply for a small loan of up to £600, in return for small repayments and having their child benefit paid into their London Community Credit Union account.

Research by the Swoboda Research Centre has shown that a well delivered and targeted Family Loan product receives a resounding endorsement from credit union members, as it provides a valuable service for members, particularly those on low incomes, and meets borrowing and savings needs in a way that would not be possible without the dedicated Child Benefit payment mechanism.

The Successful Candidate:

This role will continue the development of LCCU’s Family Loan. As the successful candidate, you will have a desire to develop an understanding of finance and lending. You will be good at marketing with an interest in segmentation. You will be ambitious and responsible. You will seek to engage our members, while extolling the virtues of responsible lending.

Key Responsibilities:

1. Market Assessment and Loan Promotion: Actively promote family loans to existing and potential members through various well-targeted channels, including email campaigns, social media, in-person meetings, phone calls, and community events.

2. Application Processing: Assisting colleagues with understanding and streamlining the application process, ensuring a smooth application process for members as they complete loan applications, gather required documentation, and ensure compliance with lending regulations and internal policies.

3. Financial Counselling: Provide appropriate financial information, counselling and guidance to members to help members and applicants understand their loan options, manage debt responsibly, and improve their financial well-being.

4. Relationship Building: Cultivate strong relationships with members by delivering exceptional customer service, offering ongoing support throughout the loan application process, and addressing any concerns or questions.

5. Collaboration: Collaborate with other departments within London Community Credit Union, such as underwriting and loan services, to streamline loan processes and enhance the overall member experience.

6. Performance Tracking: Maintain accurate records of loan applications, approvals, and disbursements, and track key performance indicators related to loan volume, delinquency rates, and member satisfaction.

7. Compliance: Stay informed about regulatory changes and industry best practices related to lending practices, ensuring full compliance with relevant laws and regulations.

  • Qualifications:
  • – Bachelor’s degree in business administration, finance, or a related field (preferred or working towards).
  • – Previous experience in financial services, banking, or lending, with a focus on consumer loans.
  • – Strong understanding of lending principles, credit analysis, and risk management.
  • – Excellent communication and interpersonal skills, with the ability to build rapport and trust with diverse individuals and families.
  • – Detail-oriented with strong organizational skills and the ability to manage multiple tasks simultaneously.
  • – Proficiency in Microsoft Office applications and loan management software.
  • – Commitment to upholding ethical standards and treating members with integrity and respect.
  • – Knowledge of the East London community and its unique socioeconomic dynamics (preferred).
  • Benefits:
  • – Competitive salary commensurate with experience.
  • – Benefits package including pension savings plan.
  • – Opportunities for professional development and career advancement within the credit union.
  • – A supportive and inclusive work environment that values teamwork, diversity, and community engagement.
  • How to Apply:
  • Interested candidates should submit a resume and cover letter outlining their qualifications and relevant experience to recruitment@londoncu.co.uk. Please confirm you have permission to work in the UK.
  • London Community Credit Union is an equal opportunity employer committed to diversity and inclusion in the workplace. We encourage individuals from all backgrounds to apply.