What are the responsibilities and job description for the VP of Business Lending position at Area Federal Credit Union?
Join Our Team as the VP of Business Lending!
- Meet with members regarding business lending requests.
- Perform onsite reviews of business accounts.
- Underwrite business loan applications.
- Develop business loan products and services.
- Ensure that business loan policies, procedures, services, products, and documentation meet federal and state regulations.
- Formulate and maintain a loan procedures manual for business loan department that is up-to- date with all regulations and requirements. Ensure staff training and compliance.
- Maintain up-to-date knowledge of general economic conditions or changing trends that may affect the credit union’s business lending department. Provide timely feedback that allows the credit union to react competitively.
- Maintain knowledge of competitors’ rates and terms and other trends relating to business lending. Construct products, rates, and terms that reflect the marketplace.
- Provide input and recommendations for lending interest rates to Management.
- Evaluate the job performance of subordinates to ensure quality work and service to members.
- Develop and assess monthly loan reports. Develop procedures and reporting tools for effective information to flow through the department.
- Review loan approvals and denials for soundness of conclusions.
- Perform audit of business loan files to ensure quality of work and quality of documentation.
- Define appropriate limits of authority for business service loan personnel.
- Minimum of two years of lending experience required.
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