What are the responsibilities and job description for the Retail Lending Supervisor position at Exchange Bank?
Management:
• Ensure compliance with regulatory laws and requirements pertaining to residential and consumer lending.
• Ensure department loan officers consistently arrive at loan decisions in a uniform manner to maintain compliance with ECOA and all other loan regulations.
• Make recommendations to management on residential and consumer products, policies and pricing.
• Recruit, select, train, and provide leadership and performance feedback for direct reports.
• Recommend wage adjustments, staffing and work assignments.
• Establish goals and work plans consistent with Bank needs and monitor progress.
• Conduct regular staff and coaching meetings with direct reports.
• Recommend methods and procedures to improve department efficiency.
• Prepare management reports as needed, and order customized reports as appropriate. Based upon findings in reports, recommend changes.
• Participate and work with third party auditors and examiners when conducting the Banks scheduled audits of the Bank’s Home Loan Lending procedures.
• Maintain a high level of compliance and ensure proper corrective actions are taken related to third party findings.
• Attend internal and external management meetings.
• Prioritize daily workflow pertaining to loan fundings, rate locks, new loans, etc.
• Act as liaison between brokers and staff to ensure a productive working relationship.
• Schedule staff and assign work to ensure superior service and work plans are met.
• Work with other departments to successfully complete the sales cycle.
• Refer customers to other Bank departments for additional financial services products.
• Manage broker and wholesale relationships with the Bank.
• Act as product owner for all related software and vendors.
• Primary contact for risk and audit requests related to consumer and residential loans.
• Manage and report on loans in the pipeline.
• Subject matter expert for commercial and residential lending.
• Manage the Bank's NMLS registration.
• Generate, verify and approve consumer and residential loan report and coordinate with retail banking to ensure proper referral
payments through the bank wide Sales Incentive Plan.
Consumer and Residential Loan Processing:
• Train staff on loan procedures, operations and industry updates.
• Oversee loan processors to ensure accurate review of documentation, including credit reports, appraisals, preliminary title reports, and income documentation for accuracy and current date prior to submitting to underwriting.
• Review and process employee consumer and residential loans.
• Communicate with borrowers and loan agents regarding conditions and loan status.
• Upload and submit loans through loan origination systems.
• Obtain and review all “prior to doc” and “prior to close” conditions stipulated by the lender.
• Direct loan processors to prepare and submit interest rate lock request per instruction from Mortgage Loan Consultants.
• Direct loan processors to order loan documentation for approved loans through Loan Service Center Doc Team for portfolio loans or our third-party lenders for brokered out loans.
• Ensure processing system updates are implemented and fulfill required reporting needs.
• Ensure department activities are in compliance with current regulatory requirements.
Consumer and Residential Underwriting:
• Approve and occasionally underwrite 1-4 unit residential, consumer, and construction mortgage loan applications.
• Review and analyze loan application packages to determine creditworthiness of requests.
• Communicate with Mortgage Loan Consultant, as needed, to ensure conditions are met.
• Ensure Residential lending team understands construction loan process and disbursement procedures.
• Review loan applications with the third-party lender and confirm loan is within guidelines of the requested loan program.
• Supervise the approval process and underwriting of all retail loan applications or brokered out loans.
• Train and administer manual and automated loan approval and underwriting systems.
Portfolio Management:
• Monitor the Bank’s requests for modification or refinancing, as it relates to consumer or residential loans.
• Work with the Special Asset Department on problem loans.
• Manage the HMDA reporting.
Non-Essential Functions:
• Other duties as assigned.
Supervisor Responsibility:
• Will supervise a team of 3-4.
Minimum Qualifications:
Bachelor's degree in business administration, accounting or related field; or a
combination of equivalent education and experience. Minimum of 5 years' experience in mortgage and consumer lending, including three years supervisory or managerial experience.
Knowledge, Skills and Abilities:
• Thorough knowledge of bank application approval and underwriting systems.
• Thorough knowledge of loan documentation requirements.
• Knowledge of residential construction and related real estate law, property valuation, etc.
• Knowledge of preliminary and ALTA title reports issued by Title Companies.
• Knowledge of Lending Compliance and Regulatory laws pertaining to residential mortgage and consumer loans.
• Knowledge of state and federal consumer lending regulations.
• Knowledge of modern managerial principles, practices and techniques.
• Skills operating a personal computer including word processing, spreadsheet and presentation software.
• Ability to analyze and thoroughly understand various types of financial statements, tax returns, loan economics and cash flow.
• Ability to attend early morning and evening meetings and events.
Compensation:
The hiring range for this position is $81,000 to $121,000 per year. Actual salary offered will fall within this range commensurate with the candidate's applicable experience, education, and skills.
Salary : $81,000 - $121,000
