What are the responsibilities and job description for the Consumer Lending Manager position at Bay Federal Credit Union?
About the Role:
Responsible for the planning, directing, supervising and coordinating of consumer lending functions from origination through closing. This position is responsible for maintaining the Credit Union’s requirement for quality lending products and services, while implementing and maintaining efficient processing of consumer loans. Additionally, this position monitors consumer loan decisions to ensure they follow the Credit Union’s underwriting guidelines, that the Credit Union is compliant with consumer loan regulations, and that all staff meet or exceed the member experience expectations while meeting the financial goals of the organization.
Scheduled Weekly Hours:
40 hours per week; Monday – Friday (must be available for team escalations Saturdays)
What you’ll be doing:
- Provides leadership and strategic direction to all areas of responsibility including origination, processing, underwriting, and closing/funding of Consumer loans.
- Works collaboratively with Consumer Lending Assistant Manager and team members involved in the origination, and fulfillment of consumer loans, to ensure accurate, responsive, and timely review, processing, underwriting, and funding of loans.
- Ensures that loan documentation, including follow-up documentation, is reviewed, and analyzed to ensure our consumer portfolio minimizes exposure to losses while using the appropriate risk assessment and that loan fundings adhere to Credit Union policy and procedures, as well as fulfillment of service level agreements.
- Ensures that operational excellence and continuous improvement are key focuses and are supported throughout the consumer lending department.
- Will work with leadership to maximize service levels by reducing or eliminating unnecessary processes, guidelines, and documentation, while enhancing communication and timely follow through and incorporating Credit Union initiatives.
- Work with the VP of Consumer and Business Lending to establish the scope of authority and responsibility for direct reports.
- Responsible for staff development, cross training, performance management, and adhering to policies/procedures/guidelines.
- Provides leadership to staff to ensure proper safeguarding of assets and conformity to Credit Union policies and procedures; directs and supports the team through consistent coaching, praise, and rewards to maintain high level of employee engagement.
- Conducts performance evaluations of direct reports and recommends merit increases, when applicable ensuring that performance reviews are completed on-time.
- Analyzes and approves loans outside of normal lending guidelines when appropriate and within lending authority.
- Works with dealers, branches, member service center, marketing, and Business Relationship Manager to analyze periodic market research on competitor’s programs and participate in preparing proposal recommendations for product, program and pricing or rate changes when appropriate.
- Collaborates with all key stakeholders in the execution of strategic and operational activities.
- Promotes and fosters key relationships with all delivery channel constituents including Dealer Relationship Manager, branches, member service center, marketing, dealers, and strategic partners.
- Forecasts, plans for, and manages consumer lending origination volumes and fosters efficiency through competitive industry benchmarks and productivities.
- Collaborates with VP of Consumer and Business Lending to develop the department budget and oversees the ongoing management of department expenses.
- Maintains a thorough knowledge of all related State and Federal regulations. Ensuring that the Credit Union’s loan policies, procedures and practices are in compliance with all applicable laws as well as NCUA rules and regulations.
- Works with internal/external auditors to ensure that the department maintains compliance with all Credit Union policies and Federal regulations.
- Serves as the user-expert of the consumer loan origination system and dealer portals, Dealer Track, Route One, and CUDL. Monitors, initiates, and coordinates periodic upgrades to these systems to ensure the Credit Union is maximizing its capability to deliver credit efficiently and remain fully compliant with regulatory requirements.
- Promotes and maintains a positive image of the Credit Union brand and philosophy at all times to personnel, members, vendors and the community. Attends presentations and conferences, as appropriate.
You’re Perfect For This Role If You Have:
- High School Diploma or equivalent required.
- B.A. or B.S degree in Finance or Business preferred.
- At least 5 years of progressively complex responsibilities in Consumer Lending with strong emphasize in Indirect lending, or equivalent.
- Minimum of 2 years of supervisory/management experience, or equivalent.
- 2-3 years of experience with Loan Origination Systems and Core Systems specific to the banking or credit union industry preferred.
Who We Are:
Bay Federal Credit Union was started in 1957 when local school teachers pooled their money together to start a credit union. This original vision and investment has grown into the area’s largest locally-owned financial institution, with nearly $1.6 billion in assets. Today, Bay Federal provides full service financial products and solutions to individuals and businesses in Santa Cruz, Monterey, and San Benito counties.
As a local, member-owned, not-for-profit financial cooperative, we are passionate about contributing to the community and being an integral part of its incredible story. Each year, our employees volunteer their time and donate their money to local non-profits, schools, and events. Our managers serve on local non-profit Boards of Director to be involved, understand challenges, and to make a real difference in the communities we serve.
From our founding as a teacher’s credit union, Bay Federal has continued our commitment to education. We offer annual student scholarships for members and offer a comprehensive array of solutions to support our member's financial wellness. Through online financial education course offerings, solutions for teachers and students, as well as special programs for youth, our financial wellness programs are free and available to the public. This is a small part of our work in creating thriving and vibrant communities!
We look forward to continuing our story, and hope that you will be a part of it!
Perks of Joining Bay Federal Credit Union:
- Rated #1 Credit Union to Work For by CU Journal
- Best Places to Work in the Bay Area (SF Business Times/Silicon Valley Journal)
- 11 Federal Holidays observed as paid days off
- We invest in your professional growth & development by providing access to industry standard webinars, LinkedIn Learning courses, and career tracking. We also partner with Cabrillo College for a 12 week leadership program for up and coming supervisor and manager level employees
- Mac McCormac Employee Scholarship award for $1,500 towards education expenses
- Our hybrid work approach combines the flexibility of remote working with the benefits of bi-annual in-person all staff meetings
Benefits Offered at Bay Federal Credit Union:
- 401k Matching – $1 for $1 company match up to 5% of pay
- Eligibility to participate in annual bonus plan
- Benefits Offered – Medical, Dental, Vision, Life Insurance, and Long Term Disability coverage
- Employee Assistance Program that supports 6 face-to-face sessions per person, per reason, for you and your household
- A wellness program that supports your physical, financial, and emotional health
- Supplemental benefits such as Pet Insurance and Aflac
Bay Federal Credit Union is proud to offer a competitive, robust compensation and benefits package. Bay Federal considers many factors in determining base pay such as experience, education/training, internal peer equity, job location, and other business considerations when extending an offer. For Santa Cruz, CA only, the pay scale Bay Federal reasonably expects to pay for this position is $86,400 - $108,000 annually. Salaries are based on the geographic location in which you live if working remotely.
Bay Federal provides health care benefits, life and disability insurance, paid holidays and 401k with a company match to eligible employees; along with employee paid voluntary benefits. Paid time off is accrued per paycheck for eligible employees at a rate based on your tenure. Leaves of absences are available in adherence with state and federal regulations.
Bay Federal is committed to providing equal employment opportunity for all persons regardless of age, disability, national origin, race, color, religion, sex, sexual orientation, gender, gender identity or expression, pregnancy, veteran or military status, marital and civil partnership/union status, alienage or citizenship status, creed, genetic information or any other status protected by applicable federal, state, or local law. Bay Federal is at at-will employer.
For CCPA's requirements regarding security practices and procedures, please see our privacy page here (https://www.bayfed.com/privacy). Bay Federal Credit Union takes our obligation to keep our member's data safe and secure and adhere to industry standard best practices
Salary : $86,400 - $108,000
