Vice President of Banking Operations

Position Summary

Oversees consumer, commercial and mortgage operations. Provides guidance in the development of policies, programs, systems, and processes for consumer, commercial and mortgage operations. Develops, coaches, and supports staff in the successful performance of their roles. Participates in departmental strategic planning.

Essential Duties And Responsibilities

• Provides leadership, direction, and goals in the areas of consumer, commercial and mortgage operations which requires being onsite at the assigned office location on an as needed basis. Strategizes and presents high level information on consumer, commercial and mortgage operations’ specific initiatives and results that are consistent with and directly contribute to overall strategic initiatives and financial performance results.
• Supports the strategic planning process through departmental planning and participates as requested in organizational level strategic planning. Aligns initiatives with business direction. Directs the consumer, commercial and mortgage operations’ efforts in an efficient manner to assure that Magnifi Financial meets its strategic goals and objectives while minimizing risk.
• Formulates and recommends policy and procedure changes as it relates to consumer, commercial and mortgage operations. Works with executives to approve policies which may have an organization-wide effect.
• Develops, monitors, and proactively responds to appropriate assessment criteria to measure member satisfaction and effectiveness of consumer underwriting, operations and servicing and oversees mortgage support functions.
• Recommends changes to, deposit and loan products and services, systems and processes and oversees the implementation and training of new and existing deposit and loan products.
• Oversees audit and risk assessments related to consumer, commercial, and mortgage operations.
• Manages the conformance to, deposit and lending policies, regulatory compliance, underwriting standards, and internal controls throughout the organization, coordinating all support activities with cross-functional areas such as branch administration, business and mortgage lending and credit departments. Reviews reports for quality control to ensure operational procedures are being followed.
• Oversees deposit and lending software needs and changes to ensure compliance with applicable laws, regulations, and policy. Makes decisions regarding system releases and upgrades in conjunction with the Enterprise Application Analyst and Infrastructure team, ensuring no interruption in product and service delivery.
• Conducts market analysis, solicits input from production and support staff, and identifies trends to enhance/create product and service offerings to meet member and staff needs on an ongoing basis.
• Develops, monitors, and proactively responds to developing trends and improves, recommends, and creates changes to loan and deposit products and services.
• Monitors existing business, mortgage, and consumer loan portfolios for all loans, including loans retained for servicing and participations. Reviews reports for quality control to ensure operational procedures are being followed.
• Participates in work groups and/or committees. Works in collaboration with executives, vice presidents, management, and staff to meet the goals and objectives of Magnifi Financial.
• Oversees development, training and management of the performance and compensation of direct and indirect staff. Approves hiring decisions and delivers performance reviews and compensation for staff. Responsible for commercial, consumer and mortgage operations’ results that are achieved through the successful management of staff.
• Develops and manages the budget and the monthly rolling forecast that has a major impact to the overall success of the organization. Participates in budgeting for deposit, mortgage, commercial and consumer lending products.
• Provides leadership to community relations efforts, serving as a key ambassador for Magnifi Financial, interacting with key members of the industry and communities served. Projects a positive image in the field of membership and with current and prospective members.
  
  

Education And Experience

Bachelor’s degree in a business or finance related field plus eight years progressively responsible management experience in a financial institution with eight years in deposit and/or lending operations, in a similar or greater size organization; or equivalent knowledge and skills gained through a minimum of ten years related work experience.

Licenses And Certifications Required

• Must be bondable
• Must register and maintain the unique identification number (originator ID) according to the S.A.F.E. Act.
• Notary Public designation within 3 months of start date in this position desired but not required.
  
  

Supervision/Management

May directly or indirectly be responsible for the formal supervision/management or provide work direction to the following positions:

• Commercial Operations Manager
• Retail Operations Manager
  
  

Benefits

We are committed to investing in our team! Magnifi Financial offers benefits that help everyone achieve their full potential. Full-time employees are eligible for the following benefits (benefits with an asterisk are also available to eligible part-time positions):

• Opportunities for Training and Development *
• Leadership Development *
• Job Level Advancement (ability to move up in your position through training and development) *
• Tuition Reimbursement *
• 32 Hours Volunteer Paid Time Off *
• Paid Time Off - starting at 4 weeks per year for FT; prorated for PT *
• Medical
• Dental
• Vision
• Employer paid Life Insurance/AD&D
• Employer paid Disability Insurance
• Retirement Plan - Employer match up to 4%, eligible for annual profit sharing *
• Paid Parental Leave
• Bonus/Incentive Program
• Health and Wellness Programs *
  
  

Pay Transparency

Salary Range: $102,471/yr. through $153,707/yr.

Salaries vary based on factors such as location, internal equity, skills, experience, education, and qualifications for the role.

Total compensation package varies based on position and may include bonuses, performance-based incentives, commission, and/or discretionary bonuses.

Who We Are

At Magnifi Financial, we offer a collaborative, friendly environment where we support our employee's growth and development, and create a positive work atmosphere. As a member-owned organization, we are focused on making dreams come true for our members. Our vision is enhancing the lives of members and community through strength, service and growth.

Magnifi Financial has grown to more than 85,000 members, $2.4 billion in assets, over 400 employees, and over 25 branch locations throughout Minnesota. But what hasn’t changed is our focus on the members and communities we serve.