Vice President of Lending

Market USA FCU, a $135 million dollar certified Great Place to Work credit union located in Laurel, MD is seeking a VP of Lending to join our team. The position directs and coordinates all lending and collection activities within the Credit Union, ensuring compliance with Credit Union lending policies and regulations. Key duties: plans, directs, and coordinates the development of lending policies, procedures, goals, and objectives. Directs lending activity to meet Credit Union goals and objectives.

The position oversees lending and collection processes, products and portfolio performance. It ensures lending operations are efficient as possible and technology use is optimized. It analyzes delinquency and loan losses and proposes underwriting model and loan policy/procedural changes, as appropriate. The position evaluates loan products to keep competitive and maintain sufficient yield. It manages needed changes to products and auto decisioning, all lending forms, letters, including adverse action notices, debt protection, MRC and GAP. The position manages vendor relationships for lending related vendors.

The position will report to our CEO.

Market USA has a hybrid work model allowing flexibility to work remotely with mandatory onsite work on Wednesdays and as needed.

Position Purpose/Summary

Directs and coordinates all lending activities within the Credit Union, ensuring compliance with Credit Union lending policies and regulations. Plans, directs, and coordinates the development of lending policies, procedures, goals, and objectives. Directs lending activity to meet Credit Union goals and objectives.

Essential Job Functions:

Primary accountability for specific functions and results. The list of essential functions is not exhaustive and may be supplemented or changed as necessary.

• Plan, recommend, and implement lending programs, policies and strategy
• Analyze statistical data in all areas of lending operations and make recommendations for the efficient operation and growth of the credit union and control of delinquency and loan losses.
• Develop, implement, and maintain operational lending procedures and policies to maximize efficiency, quality of work, and provide consistent quality service to members.
• Complete Loan Origination System (Origence) maintenance and enhancements.
• Hire, oversee, coach, and develop staff. Conduct performance appraisals.
• Direct and oversee preparation of periodic reports on lending operations and products.
• Analyze indirect loan originations via monitoring of dealer reports for consistency, look-to-book ratio, loan volume, loan losses, and credit tier distribution/yield.

Performance Measurements:

• Ensure all lending activity adheres to established policies, procedures, and governmental regulations. Maintain high level of knowledge related to all lending areas.
• Coordinate and execute effective lending programs and promotions that support Credit Union goals and objectives and fulfill member needs
• Effectively supervise assigned personnel, producing a productive, well-trained, and motivated staff. Ensure staff makes contributions towards achievement of Credit Union goals and direct reports achieve X% of individual goals.
• Meet or exceed specific goals and objectives established for all lending areas. Maintain delinquency at or below X% of loans outstanding, sell debt protection on at least X% of new and rewritten loans, and maintain charge-off rate of no more than X%. Establish and provide support for staff to achieve goals and objectives.
• Provide informed, professional and accurate service and support to all members and associates.
• Communicate effectively with management. Communicate issues in a timely and appropriate manner. Liaison between staff and management.
• Complete employee performance appraisals and handle performance issues in an appropriate and timely manner.

Position Qualifications:

To perform at a proficient level and be fully qualified, a person would be expected to have:

• Education (Minimum Needed): (1) A bachelor's degree, or (2) achievement of formal certifications recognized in the industry as equivalent to a bachelor's degree or (3) completion of a specialized certification or licensing.
• Experience (Minimum Needed): Five plus years of similar or related experience.
• Specialized Knowledge Needed for Performance of Job: Thorough knowledge of loan underwriting for consumer unsecured personal loans, credit cards, vehicle and home equity. Proficiency in Microsoft Office products. Supervision, assists, coordinates, manages, and directs others. Organizes work flow to accomplish established objectives, delegates tasks, ensures adequate training, evaluates subordinate effectiveness, and administers necessary discipline.

Physical Requirements:

This job is in an office environment. The employee must have the ability to effectively communicate and interact with other staff and the public (members, potential members, vendors). The employee must have the physical capability to effectively use and operate various office-related equipment including, but not limited to, a computer, telephone, calculator, copier, filing cabinet, scanner and fax machine. The employee may be required to occasionally lift and carry up to 20 lbs. While performing the duties of this job, the employee is regularly required to see, talk, hear, use hands to finger, handle or feel and reach with hands and arms. The employee is often required to move around the office.

Other Duties

Please note this job description is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities that are required of the employee for this job. Duties, responsibilities and activities may change at any time with or without notice.

Job Type: Full-time

Pay: $93,863.00 - $140,795.00 per year

Benefits:

• 401(k) 5% Match
• 401(k) matching
• Dental insurance
• Employee assistance program
• Employee discount
• Flexible schedule
• Flexible spending account
• Health insurance
• Health savings account
• Life insurance
• Paid sick time
• Paid time off
• Parental leave
• Vision insurance
• Work from home

Schedule:

• Monday to Friday

Supplemental Pay:

• Bonus opportunities

Application Question(s):

• Do you have experience with updating controls and rates in loan origination systems?
• Do you have experience with indirect lending?

Education:

• Bachelor's (Preferred)

Experience:

• loan underwriting: 5 years (Required)
• management: 5 years (Preferred)

Ability to Commute:

• Laurel, MD 20723 (Required)

Work Location: Hybrid remote in Laurel, MD 20723

Salary : $93,863 - $140,795