In-House Car Loan Administrator

3 days ago

Singapore KING SEARCH PTE. LTD. Full time
Job Summary
The In-House Car Loan Administrator is responsible for managing the administrative and operational aspects of our in-house car loan processing. This role involves handling loan applications, ensuring compliance with regulatory requirements, coordinating with internal teams and external partners (e.g., banks and insurance providers), and providing excellent customer service. The ideal candidate is detail-oriented, organized, and familiar with Singapore's car financing regulations, including those set by the Monetary Authority of Singapore (MAS).
Key Responsibilities
  • Loan Application Processing:
    Prepare, review, and process car loan applications, ensuring accuracy and completeness of documentation (e.g., NRIC, income proof, employment details, and CPF contribution statements).
    Verify applicant eligibility based on criteria such as credit history, income, and Total Debt Servicing Ratio (TDSR) limits (55% of gross monthly income).
    Coordinate with customers to collect required documents and clarify application details.
    • Compliance and Documentation:
      Ensure all loan agreements comply with MAS regulations, including loan-to-value (LTV) limits (60% or 70% based on Open Market Value) and maximum loan tenure (up to 7 years).
      Maintain accurate records of loan applications, approvals, and disbursements in compliance with company policies and Singapore's lending regulations.
      Update hire purchase (HP) details (e.g., loan amount, tenure, interest rate) in the company's financial systems after vehicle registration.
      • Customer Service and Coordination:
        Liaise with customers to explain loan terms, repayment schedules, and interest rates (ranging from 1.68% to 6.68% based on vehicle type and credit profile).
        Collaborate with sales teams and car dealers to streamline the loan application process and ensure timely vehicle delivery.
        Address customer inquiries regarding loan status, repayment options, and early settlement fees.
        • Administrative Support:
          Manage day-to-day administrative tasks, including data entry, filing, and updating loan statuses in the company's CRM or financial software.
          Coordinate with banks, financial institutions, and insurance partners to facilitate loan approvals and disbursements.
          Assist in month-end closing processes, including management reporting and reconciliation of loan accounts.
          • Debt Recovery Support:
            Work with the collections team to monitor loan repayments and follow up on overdue accounts.
            Assist in initiating recovery processes for defaulted loans, ensuring compliance with legal and regulatory guidelines.
          Qualifications and Skills
          • Education: Diploma or Bachelor's degree in Business Administration, Finance, or a related field (fresh graduates are welcome to apply).
          • Experience:
            No prior experience required; comprehensive on-the-job training will be provided to develop skills in loan processing and automotive financing.
            Familiarity with Singapore's car loan regulations (e.g., MAS LTV limits, TDSR requirements) is a plus but not mandatory.
          • Skills:
            Strong attention to detail and organizational skills for managing multiple loan applications.
            Excellent communication and interpersonal skills to interact with customers and internal teams.
            Proficiency in Microsoft Office (Excel, Word) and willingness to learn industry-specific financial or CRM software.
            Ability to handle sensitive financial information with confidentiality and professionalism.
            Eagerness to learn about hire purchase agreements and car financing processes.
          • Other Requirements:
            Proactive, customer-centric, and able to work in a fast-paced environment.
            Positive attitude, resilience, and willingness to learn and adapt.
          Working Conditions
          • Location: Yio Chu Kang.
          • Hours: Monday to Friday, 9:00 AM to 6:00 PM
            • Benefits:
              Competitive salary (SGD 2,400-3,800/month, depending on qualifications and experience).
              Supportive team environment with comprehensive training provided.

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