Vice President of Lending

Participate in strategic planning and the development of credit union policies, procedures, and goals. Accountable for the credit union’s administrative management of loan functions. Develop and implement consistent organizational policies and procedures that comply with external regulations. Support and lead residential mortgage department, indirect lending, consumer lending and collections. Ensure maximum profitability of lending activities that are also in the best interest of the member.

Responsibilities

1. Accountable for planning, organizing, and directing the credit union’s collections, consumer lending functions, and mortgage lending.
2. Set the Loan Department’s strategic plans to align with the credit union’s approved Board planning goals. Establish and ensure the implementation of target goals for the department.
3. Ensure lending activities result in the credit union achieving its greatest volume potential, providing appropriate profit for the credit union, managing risk, all with delinquency and charge-off ratios that are relevant to managing a risk-based lending program.
4. Ability to incorporate technology for improving the member experience for delivering the loan product to our members, improve the underwriting process in consumer lending, and maximize cross-sell opportunities of credit union loan products and services.
5. Create the budget for the department and track on an ongoing basis for adherence.
6. Develop, implement, and monitor policies and procedures in accordance with credit union goals and strategies. Work with other departments to maintain consistency in credit union policies and procedures.
7. Oversee and monitor the loan function to achieve its strategic goals. Direct the work of loan department in all areas of underwriting, loan processing, loan documentation, and approval or denial loans for consumer, mortgage, or member business loans.
8. Accountable for the sale of residential mortgage loans on the secondary market and the on-going servicing of residential mortgage loans that are held in portfolio or sold with servicing retained.
9. Interview loan applicants, resolve member complaints, and approve or deny loan applications as needed.
10. Oversee the development and monitoring of performance standards. Provide mentoring, coaching, or training to assist and develop managers and staff.
11. Research and evaluate the feasibility of new lending products. Develop and implement plans for expansion of lending programs. Keep abreast of changes in the industry and changing trends in lending and react to changes in a way that maintains competitiveness.
12. Work with loan managers, loan officers, loan support staff and members on complex issues to prevent loss to the credit union and support the membership.
13. Work with the CEO on reporting requirements associated with CDFI certification.
14. Design and manage loan products that support underserved communities, consistent with CDFI mission objectives.
15. Incorporate CDFI mission and compliance requirements into the overall lending strategy.
16. Prepare reports and documentation required for CDFI grant compliance and performance evaluation.
17. Monitor competitor interest rates and terms to provide input and recommendations. Oversee implementation for lending interest rates changes.
18. Define appropriate limits of authority for loan and mortgage personnel.
19. Establish and monitor effective control procedures for late and/or delinquent or potentially delinquent loans. Authorize legal proceedings. Identify and recommend loans for charge-off.
20. Evaluate vendors to partner with the credit union.
21. Recommend new loan products and services, and changes in existing loan products and services to meet the financial needs of the credit union.
22. Represent and promote the credit union at external functions.

Qualifications

Served successfully in a leadership role within the financial industry for at least two or more years.

Education

Bachelor’s degree preferably in Business Administration or related field.