What are the responsibilities and job description for the Director of Indirect Lending position at EdFed?
Job Summary:
Directs and monitors lending operations and ensures the Credit Union meets goals and objectives. Develops and implements Board approved policies & strategies. As a result, develops and implements procedures for Credit Union staff. Ensures that the Credit Union is in compliance with lending regulations. Is a leader with EdFed’s Mission and Vision Values.
Duties & Responsibilities:
- Directs and monitors all facets of Indirect lending operations and monitors progress on a regular basis that is consistent with the Credit Union’s strategic plan. This includes oversight of Indirect lending portfolios, underwriting, lending compliance and quality assurance.
- Formulate and maintain loan procedures for the Indirect lending function that is up-to-date with all regulations and requirements. Ensure staff training, development, and compliance
- Serve as Indirect lending compliance subject matter expert with an emphasis on fair lending compliance, provide related guidance to management and assist with the ongoing development of compliance training to ensure the credit union is in full compliance with all lending laws and regulations.
- Ensures the Credit Union meets established Indirect lending goals and objectives. Works with the SVP of Lending to develop and execute strategies for lead generation, pricing and all other matters related to revenue generation within the Credit Union’s guidelines and industry standards.
- Responsible for hiring indirect lending staff to include completing performance evaluations and development plans as necessary.
- Oversee the development and monitoring of performance standards. Provide mentoring, coaching and training to support direct reports.
- Compile and analyze data to evaluate the current and future status of Indirect loan production, portfolio and performance.
- Monitors and analyzes loan data through statistical reporting.
- Monitors loan quality and recommends underwriting changes to the SVP of Lending.
- Approves / denies Indirect loans including those for Credit Union employees.
- Supports business and marketing initiatives to enhance Indirect loan production.
- Implements changes to improve lending efficiencies.
- Researches and implements new channels for Indirect opportunities.
- Serves as a member of the Asset/Liability committee.
- Develops and maintains relationships with third parties and automobile dealers who participate in indirect lending programs, including periodic visits to dealerships as necessary.
- Assists with other duties and projects as assigned.
