VP of Payments and Risk

Job Description

Job Description

In support of Sun Federal’s mission, vision, values and culture, the Vice President of Payments and Risk has dynamic and innovative leadership responsibility for strategic planning, organizing, and directing the Credit Union’s Digital, Cards, Lending Risk, and Risk teams. As a member of the Senior Team, actively participates in organizational vision setting and the development of the annual Strategic Business plan. Creates and maintains a high level of cultural engagement (employee & member) among work teams and across the organization. Trains, directs, develops, and evaluates assigned staff. Ensures compliance, risk management and operational support in the delivery of products and services. Works to maintain high employee engagement and is a cultural champion.

Essential Duties & Responsibilities: Employee must effectively carry out the following essential duties and responsibilities of this position in a manner that consistently demonstrates Sun Federal’s mission, values, and culture. Other duties may be assigned.

1. Assumes responsibility for the development and implementation of effective support delivery.
   1. As a member of Senior Team, takes a leadership role in overall strategic planning for excellent operational support delivery systems, processes, procedures, and protocols that are regulatorily compliant, manage risk, and ultimately meet member service goals.
   2. In conjunction with credit union-wide business plan prioritizes, innovates, and organizes new or enhanced products and services including delivery, compliance, risk management and training for the following areas:
      1. Digital Services: Consumer and Business online, mobile and digital delivery channels product and service management.
      2. Card Services: Debit Card and Credit Card portfolio, product, and service management.
      3. Payment Services: Share draft, ACH, wires, stop payments, returns, and tracking.
      4. Loss Mitigation: Delinquency management through legal collection for consumer, real estate, and business loans.
      5. Loan Servicing: Consumer loan document, product, protection, credit bureau reporting and process compliance.
      6. Risk Management: BSA/AML program, deposit account compliance, vendor management, Enterprise Risk Management (ERM), and risk account servicing including Overdraft Privilege and Member Expulsion/Withdrawal of Services administration.
      7. Internal Audit: Supervisory Committee/internal audit scope, NCUA complaints, and merger due diligence.
2. Leadership of Digital, Cards, Lending Risk, and Risk Management Teams.
   1. Ensures execution and development aligned with Sun Federal’s Leadership Competencies which are: Lead People, Inspire Others, Think Critically, Communicate Clearly, and Develop People.
   2. Provides leadership to direct reports through effective coaching, engagement, delegation, and communication. Conducts monthly one-on-one meetings.
   3. Ensures that employees are well trained and instructed regularly regarding policy, procedures, and program changes.
   4. Conducts performance appraisals of direct reports as required. Formulates and implements corrective actions as needed.
   5. Ensures that staffing levels are appropriate and human resources are effectively utilized. Interviews, hires, and assigns directors and management team.
   6. Reviews and ensures the accuracy of department job descriptions.
   7. Ensures quality and integrity of programs and services are maintained.
   8. Monitors and tracks market trends, emerging technologies, and key vendor developments. Conducts periodic reviews of existing systems, products, and procedures to ensure Credit Union’s mission and vision objectives are met.
   9. Evaluates the Department’s effectiveness through analyses of activity/workflows, on-site observation, and other measurable criteria.
3. Assumes responsibility for ensuring that professional business relations are established and maintained with members, vendors, trade professionals, etc.
   1. Ensures that questions and concerns are promptly and courteously resolved.
   2. Ensures that Credit Union policies and procedures are effectively conveyed.
   3. Ensures that the Credit Union’s professional reputation and appropriate levels of confidentiality are maintained.
   4. Manages Department-related vendor relationships, budgets, and contracts.
   5. Represents the Credit Union with various trade professionals and groups
4. Assumes responsibility for establishing and maintaining effective communication and coordination with Credit Union staff and management.
   1. Ensures that Department functions are well coordinated with retail operations and related departments. Provides proactive assistance as required.
   2. Completes required reports and records.
   3. Attends and participates in meetings and committees as required.
   4. Serves on the IT Steering, Innovation & Product Development and Talent Management Committees.
   5. Attends Supervisory Audit, Loan Review and Capital Adequacy Committee meetings.
5. Assumes responsibility for related duties as required or assigned.
   1. Stays informed of trends and regulations to ensure effectiveness, safety, and compliance. Reports significant changes to the Senior Management Team and Board as appropriate.
   2. Supports review of service vendor options and contract decisions that impact member service and organizational support.
   3. Ensures that work areas are clean, secure, and well maintained.

Qualification Requirements: To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of knowledge, skill and/or ability required. Reasonable accommodation may be made to enable individuals with disabilities to perform the essential functions. The individual must be able to successfully pass background checks.

Education/Certification: Bachelor’s degree in business or related field.

Required Knowledge: Thorough knowledge of Credit Union services and products. Understanding of related legal and regulatory requirements. Thorough understanding of systems, functions, policies, and procedures. Maintains knowledge of governing regulations, compliance and information security issues and provides management with updates regarding exposure to new or pending developments.

Experience Required: Eight (8) to ten (10) years of experience in financial institution risk management, operations, and/or member services. At least five (5) years’ experience directly leading and managing teams.

Skills/Abilities: Strong leadership, supervisory and interpersonal skills. Solid project management skills. Well organized and attentive to detail. Creative and self-motivated. Strong communication skills. Technical and advance analytical, financial, and budgeting skills. Ability to travel as needed.

Physical Activities and Requirements

Talking: Especially where one must frequently convey visionary and/or detailed or important information accurately.

Average Hearing: Able to hear average or normal conversations and receive ordinary information.

Repetitive Motion: Movements frequently and regularly required using the wrists, hands, and/or fingers.

Average Visual Abilities: Average, ordinary visual acuity necessary to prepare or inspect documents or products or operate machinery.

Physical Strength: Medium work; exerts up to 50 lbs. of force occasionally; and/or up to 20 lbs. frequently, 10 lbs. constantly.

Working Conditions: No hazardous or significantly unpleasant conditions (such as in a typical office.)

Mental Activities and Requirements

Reasoning Ability: Ability to apply logical or scientific thinking to a wide range of intellectual and practical problems. Able to deal with very difficult concepts and complex variables.

Mathematics Ability: Ability to use advanced algebra, exponents, logarithms, linear equations, quadratic equations, mathematical induction and binomial theorem, permutations, calculus, and/or analytic geometry. Able to perform basic statistical calculations including frequency distributions, reliability and validity of tests, normal curve, analysis of variance, correlation techniques, chi-square application and sampling theory and factor analysis.

Language Ability: Ability to read periodicals, journals, manuals, dictionaries, thesauruses, and encyclopedias. Ability to prepare business letters, proposals, summaries, and reports using prescribed format and conforming to all rules of punctuation, grammar, diction, and style. Ability to conduct training, communicate at panel discussions and to make professional presentations.