Chief Lending Officer

Full Time - Exempt

Role: To direct and coordinate all consumer and member business lending activities within the credit union, insuring compliance with credit union lending policy and relevant industry, state and federal lending laws; lead the development of lending policy; manage lending activity to meet credit union goals and objectives. Monitors and analyzes economic conditions affecting the credit union lending department and recommends appropriate action. Oversee the indirect lending program, member business lending and services, business development, collections, consumer lending products and services, centralized lending and loan support departments for the credit union. Serves as a member of the Leadership Team and assists the President/CEO in overall management of the credit union.

This position is eligible for a hybrid work from home schedule, as set and approved by the CEO in accordance with the credit union's Remote Work policy.

Essential Functions & Responsibilities:

• 35% - Directs and monitors lending operations for the entire credit union, through subordinate managers/supervisors, to ensure that the credit union meets established goals and objectives with respect to lending. Monitors product delivery and quality and takes action to resolve problems
• 10% - Oversees relationships with lending department vendors and partners
• 10% - Develops, proposes, gains acceptance for and implements lending program policy and strategy; leads activity related to new product development with respect to lending programs
• 10% - Prepares various loan department updates and reports for management's financial and operational needs
• 10% - Participates in establishment of annual department budget and monitors performance to budget throughout the year; establishes annual sales goals for lending programs and initiates action to achieve established goals
• 5% - Examines, evaluates, authorizes or recommends approval of member applications for loans and lines of credit. Reviews periodically for required updated financial information and field visits
• 5% - Serves as a member of various committees as appointed by the President/CEO
• 5% - Analyzes loan data reports for any corrective action and opportunities to gain efficiencies
• 5% - Ensures the credit union is in compliance with all lending regulations and policy limits; develops procedural changes as compliance requires or new programs demand
• 5% - Performs other job-related duties as assigned
  
  

Performance Measurements:

• Research and develop new programs and methods to meet consumer needs and improve lending services by generating revenue and increasing operational efficiencies for the credit union
• Provide input and recommendations for the strategic plan as related to the lending area. Monitor progress toward the achievement of strategic objectives
• Lead the planning and development of lending policies, procedures and goals. Ensure that lending policies, procedures, services, and products meet industry, federal and state regulations, as well as investor requirements
• Establish budgets for lending department and monitor progress with emphasis on revenue generation and operational efficiencies. Manage, coordinate and recommend purchase of equipment and supplies within budget
• Maintain up-to-date knowledge of general economic conditions which may affect the lending department. Monitor, evaluate and report on competitive financial products from major competitors within the region to provide management with sufficient information to identify potential opportunities or weaknesses the credit union faces. Maintain knowledge of competitors' rates, terms, etc., as well as internal trends relating to lending
• Provide input and recommendations for lending interest rates. Initiate discretionary and mandatory loan interest rate changes as determined by the rate review committee
• Formulate and maintain a complete loan policy/reference manual for staff training
• Communicate properly with all lending personnel to ensure that systems and procedures utilized to provide lending services to members operate efficiently and accurately at an exceptional level of service at all points of member contact
• Foster a culture across the lending team of accountability, collaboration and a digital first mindset in order to maximize efficiency through automation and continuous improvement
• Coach, motivate and provide training to lending personnel. Ensure adequate understanding of the credit union's procedures and policies. Define appropriate limits of authority for loan personnel. Conducts performance evaluations for staff
• Represent the credit union in various Credit Union Service Organizations (CUSOs) including but not limited to First Heritage Mortgage Services and Member Business Financial Services. Actively participates in strategic discussions, policy development, and business initiatives. Collaborate with CUSO partners to enhance lending services, share best practices, identify growth opportunities and ensure service level standards are delivered. Ensure the credit union’s lending operations align with CUSO objectives, leveraging shared resources to optimize loan offerings and risk management
• Perform loan interviewer and loan officer duties
• Resolve member complaints involving loan decisions or errors on their accounts, and approve or deny loan applications
• Develop, analyze, and complete monthly loan reports. Analyze monthly loan volume reports and make any necessary adjustments to loan traffic as indicated by that report
• Review loan approvals and denials for soundness of decisions. Perform audit of loan files to ensure quality of work and that lending policies are followed
• Oversee the collection of delinquent loan accounts including the implementation, coordination and control of collection policies and procedures
• Oversee the loan support department including the processing, dispersal, documentation and auditing of direct and indirect loans, ensuring all processes abide by credit union policy and regulatory requirements
• Oversee the credit union's mortgage lending program
• Oversee the participation loan program with other credit unions. Provide direction to the Vice President Member Business Services in effectively managing the loan participation program for the credit union
• In coordination with the Chief Experience Officer, oversee member business account services including the development and management of member business loan and service programs, including those offered by Credit Union Service Organizations (CUSO's). Assist with the development of member business deposit services
• Provide direction to the Member Business Lending department as it pertains to commercial business development and alignment with the strategic goals and objectives of the credit union
• Oversee the credit union's business development program focused on growing relationships with select employee groups, realtors, commercial accounts, dealerships and other community organizations. Provide direction and oversight to the Vice President Member Business Services to carry out established plans
• Attend Board meetings and report on the assigned areas of responsibility as requested by the President/CEO
• Represents the credit union in the communities we serve and in the credit union community by attending community events, civic functions, credit union council meetings, etc. When appropriate, assumes leadership roles on committees and civic organizations
• Project a positive and consistent image of the credit union in all materials and interactions
• Keep management informed regarding key operational issues affecting the department and the credit union. Inform President/CEO of all pertinent internal activity, including staff performance
• Provide support to the Chief Experience Officer in his/her absence
• Serve as a member of the Leadership Team of the credit union. As a team, assign or as delegated, assume duties of the President/CEO in his/her absence as needed
• Travel on a regular basis to all branch locations to ensure level of service meets credit union's quality service standards
• Attend conferences, seminars and workshops relating to job
• Maintain eligibility and continuing education requirements necessary to obtain and maintain various licenses required to underwrite loans
• Maintain a current understanding of lending regulations and comply with policies and regulations including, but not limited to, Bank Secrecy Act, Truth in Lending, Fair Lending, RESPA, HMDA, FCRA and the SAFE Act
  
  

Knowledge and Skills:

Experience:

Ten years to fifteen years of similar or related experience working within the financial services industry.

Education:

• A bachelor's degree, or (2) achievement of formal certifications recognized in the industry as equivalent to a bachelor's degree
  
  

Interpersonal Skills:

Work frequently involves exercising advanced conflict resolution, giving material presentations, and resolving issues impacting multiple departments or divisions. Role also requires the ability to motivate or influence others as a material part of the role, with a significant level of diplomacy and trust. Obtaining cooperation (internally and/or externally) is an important part of the role and a high level of interpersonal skills is critical to the success of this position.

Other Skills:

Must have in-depth understanding of and ability to interpret regulations affecting lending programs. Extensive knowledge of consumer, commercial, real estate lending and collections practices and procedures. Should be able to run spreadsheet and word processing software. Work also requires thorough knowledge of consumer loan policy, real estate policy, credit granting criteria, interest rates and how they are computed and documentation for each type of loan provided by the Credit Union. The ability to operate a computer is required.

Physical Requirements:

• Involves sitting most of the time. Walking and standing are required occasionally
• Repetitive finger movements to perform typing or otherwise working with paper files and documents
• Requires close visual acuity to prepare and analyze data and figures; view a computer terminal; read and assess work quality
  
  

Work Environment:

• Not substantially exposed to adverse environmental conditions
• State of Pennsylvania residency required
• Position is eligible for a hybrid work from home schedule, as set and approved by the positions manager in accordance with the credit union's Remote Work policy. In order to be approved to work from home, a cable modem or fiber internet connection is required which must have minimum service speed of 10M download / 2M upload, with less than 1% packet loss. Internet service and modem are the employee's expense
  
  

Service 1st Federal Credit Union provides equal opportunity without regard to sex, gender identity, sexual orientation, race, color, religious creed, national origin, physical or mental disability, protected veteran status, or any other characteristic protected by applicable law in employment and in our business activities.

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