What are the responsibilities and job description for the Vice President of Consumer Lending position at Redwood Credit Union?

At Redwood Credit Union we are on a journey to re-imagine the way we do business, and we can’t do it without you - our next great hire.

Since 1950, Redwood Credit Union has been helping people reach their financial goals and dreams with a focus on helping others. As a not-for-profit financial institution, our passion is for helping our Members meet their financial needs, whether it’s through better rates, low or no fees, or expanded services.

That people-first approach holds true for our employees, too. Our work environment is built on service and trust. It's all possible with a leadership team committed to hiring talented people and helping them develop their careers.

Redwood Credit Union is looking for a Vice President of Consumer Lending who will be responsible for driving a strategic plan and directing all consumer lending activities for Redwood Credit Union (“RCU”). These activities include the origination of the following products : direct and indirect auto loans, recreational vehicles, credit cards and Signature loans, including the documentation and funding of these loan products, as well as first and second lien mortgages. Emphasis is placed on providing excellent Member experiences, significantly growing the business (while minimizing loan-loss exposure), recruiting, developing, and retaining superior team members, and managing sound, compliant lending operations.

ESSENTIAL FUNCTIONS :

Executive Leadership

Review and identify cost-effective utilization of all resources. Lead and direct the management of human capital to ensure the availability of skills and abilities needed to meet RCU’s vision, mission, values, and service doctrine.
Serve as a member of the Leadership team, providing leadership and direction for RCU.
Communicate with senior management regarding all aspects of consumer lending and consumer lending operations, procedures, policies, and strategies.
Identify potential for losses by monitoring loan portfolios and taking / recommending remedial action.
Recognize problems, issues, and opportunities; evaluate and consider alternatives; develop, present, and recommend strategic and tactical opportunities; and make appropriate decisions.
Maintain and develop strong proficiency in all areas of lending operations including document preparation for all consumer loan documentations. This includes keeping abreast of changing legal landscape and industry trends.
Attend and actively participate in Leadership team meetings, staff meetings, strategic and operational planning sessions, etc.
Act or appoint appropriate loan operations team members as liaison to audit and compliance officers for audit and compliance concerns to ensure adherence.
Serve on and / or direct a number of committees to strive for consensus to ensure effective interface and communication of policies, programs, and goals among lending services, other departments, and branches.
Manage the overall development of lending through business-development programs, motivate staff to sell and market RCU, and partner with marketing and analytics to take an active role meeting Members’ needs.
Partner with the VP of Lending Systems to direct the Consumer Lending Pre-Approval strategy to ensure proper outreach to our Members at the right time, with appropriate risk levels, and with the correct offering.
On behalf of RCU, “own” the relationships with key assigned vendor partners such as MeridianLink and CU Direct. Additionally, provide leadership and participation in industry trade groups, advisory boards, etc.
Participate in and represent RCU at internal and external events, conferences, and community functions.

Program Management

Recruit, select, train, motivate, coach, mentor, and evaluate reporting staff.

Lead and direct all consumer loan activities : origination, processing, underwriting, and the closing / funding of all consumer loans and credit cards.

Develop and implement loan pricing (via ALCO) and portfolio management strategies that will meet or exceed return on asset targets while meeting loan growth goals.

Evaluate lending products, policies, procedures, practices, documents, and forms to assure efficiency, compliance, and Member service.

Provide exceptional service to all external and internal Members and clients.

Continually assess the competitiveness of all programs and practices against the relevant comparable companies, industries, and markets; balance the needs of RCU and the needs of Members.

Establish and maintain credibility throughout RCU by being an effective listener and problem solver for team members on all lending related issues.

Collaborate with VP Payments to ensure we have a robust credit card offering with programs that put our card “top of wallet” such as line increases, rewards, and balance transfers to continue to strategically grow our card portfolio.

Controlling

Lead the consumer lending team to properly rereview, approve, decline, and counter all loans within policy and lending limits, conduct quarterly portfolio review and make credit recommendations based on performance.

Delegate appropriate lending authorities to lending personnel, e.g. lending limits and annual review of Lending Policy with the Board.

Review monthly consumer loan activity and reports to maintain high credit-quality standards and ensure problem loans are satisfactorily resolved.

After defining and assigning key tasks, establish measurement criteria for tracking results, assign priorities and resources, and perform regular follow-through.

Establish and monitor reporting systems designed to keep the Senior Leadership Team (SLT) and Board of Directors informed of all relevant activities and issues, including timely preparation of monthly status reports.

Evaluate staffing and production to ensure efficient use of resources.

Monitor and review the department budgets and goals.

Planning

As a member of the Leadership team, help formulate plans and policies affecting the overall performance of RCU.

Lead and develop the annual business and budgeting process for consumer lending to ensure alignment with the long-term goals and objectives of RCU.

Partner with the VP of Lending Systems to lead and direct our ancillary products and vendors that bring alternatives and value to our Members such as ZEST, Lenders Protection, etc.

Develop all consumer lending-related promotional programs in partnership with the Marketing team.

Cultivate and execute a plan to create sales growth opportunities with the Consumer Lending team by establishing direct relationships with branches, dealers, vendors, and community partnerships to deepen penetration with Members.

Other Functions

Volunteer time and capital in community non-profit groups.

Provide general training to RCU team members outside of our lending teams.

Establish and maintain relationships with key contacts in the community including volunteer centers and non-profit organizations; participate in community events.

Perform other duties as assigned.

The ideal candidate has a combination of education and experience equivalent to a bachelor's degree in business administration, finance or closely related field, and a minimum of twelve years’ experience with lending in a financial institution, with at least four years of that experience at a senior management level.

Compensation : Base starting range : $170,102 to $224,121 annually commensurate with experience.

Our base salary starting range is based on scope and responsibilities of the position, candidate's work experience, education / training, key skills, and internal peer equity. We offer a competitive total rewards package including a wide range of medical, dental, vision, financial, and other benefits.

Redwood Credit Union offers a robust benefits package to our eligible employees including :

Competitive medical, dental, and vision insurance, mental health offerings

Employee performance incentive plan

Salary Advancement– Merit increase based on performance

401(k) program with employer match

Time Off- Competitive PTO accrual plus 11 paid company holidays and your birthday off!

RCU Discounts and Perks-

RCU employees are eligible for a .75% discount off RCU standard collateral auto loans

RCU employees are eligible for a 1% discount on all recreational or boat loan products

2% discount off Visas and LOC Loans through RCU

0% interest loan to support employees with various immigration related expenses such as visa application fees and relocation costs. Loan amount up to $1,000.

0% interest loan to support employees with expenses associated with the naturalization process. Loan amount up to $15,000.

0% interest on garment, fitness, or home office equipment loan of up to $500

100% financing for employee purchased homes!

Why work for Redwood Credit Union?

Local financial institution, providing unparalleled service since 1950

Recognized by Newsweek as one of "America's Best Credit Unions 2024"

Top 5 Healthiest Credit Union in the USA, rated by Glatt Consulting

Voted Best Places to Work in the North Bay 19 years in a row

World-class employee engagement scores

Rated Superior in Service by more than 90% of Members, surveyed by SF Gate

Recognized by Forbes as one of “America’s Best Small Employers 2023"

Internal Team Members

If you are a current Team Member, please apply through the internal careers page located in RCUNET.

We are an Equal Opportunity Employer

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Salary : $170,102 - $224,121

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