Live Life Federal Credit Union is looking for a Vice President of Lending & Collections who is responsible for organizing, planning and directing the credit union’s Lending & Collections functions, maximizing service, efficiency, profits and growth. This includes oversight of all consumer and commercial underwriting and the management of indirect lending. The VP establishes and implements departmental lending policies and operational procedures consistent with regulatory and overall credit union management policies. Reports to the EVP & COO. This position also:
- Manages and directs the Lending department, including activities related to the development, underwriting, and maintenance of the credit union’s lending, maintains a budget, relative to the department and credit union.
- Exercises usual authority of a VP concerning staffing, performance appraisals, supervisory feedback, Promotions, salary recommendations and terminations.
- Ensures a competent, motivated staff through training and counseling. Ensures compliance with credit union standards and local, state and federal laws and regulations.
- Markets all lending programs to the Branch Network, Auto Dealer Base and other necessary partners.
- Underwrites, approves, declines, or counter offers loan applications within set lending authority.
- Assists Senior Management with relative reporting, tracking, audits and examinations. Develops, maintains and recommends pricing strategies for all Consumer Loan products. Resolution of member service issues in a timely and accurate manner.
- Management of applicable vendor relationships.
- Assigns and prioritizes accounts to be worked to minimize delinquency and losses.
- Determines work procedures and priorities, prepares work schedules, and expedites workflow to maximize efficiency and productivity.
- Review collector activity to ensure that collector contact and quality expectations are being met. Identify team member strengths and weaknesses.
- Coach team members on a consistent basis in order to improve their efficiency and effectiveness. Contacts delinquent borrowers in person, by telephone, or by mail in cases of escalated or difficult delinquency situations in order to avoid further delinquency and charge-offs.
- Confers with members to establish work out loan repayment strategies in order to minimize delinquency and losses. Provides credit counseling to members in financial difficulty.
- Review Bankruptcy accounts within PACER to ensure that the credit unions interests are protected.
- Work in concert with the credit union attorney(s) to minimize losses to bankruptcy and bankruptcy fraud.
- Report monthly, yearly and year-over-year delinquency statistics reporting to the LLFCU board and regulatory bodies.
- Create unique reports to define trends, anticipate problems and find proactive delinquency solutions.
- Monitor the recovery and sale of repossessed assets to ensure the timely liquidation for maximum value.
- Monitor the recovery and sale of foreclosed assets.
- Review condition and value in order to maximize resale.
- Review accounts for charge-off per LLFCU policy and accounting standards.
- Reports charge-offs to the board. Monitor the collection performance of attorneys and outside collection agencies in order to maximize recoveries and minimize expenses.
Experience: Minimum of five years financial institution experience in operations, member servicing and lending & collections.
Education: A two-year college degree or completion of a specialized course of study at a business or trade school equivalent to approximately 64 credit hours.
Interpersonal Skills: The ability to motivate or influence others is a material part of the job, requiring a significant level of diplomacy and trust. Obtaining cooperation (internally and/or externally) is critical to the VP’s success.
Other Skills: To perform this job successfully, an individual should have a strong knowledge of PC skills including Microsoft Word, Excel, Fiserv Galaxy and Loancierge core processing and other relative lending software.
Job Type: Full-time
Salary: $40,003.58 to $55,000.00 /year
Experience:
- Manual Underwriting: 1 year (Required)
- Loan Processing: 1 year (Preferred)
- Collections: 1 year (Preferred)
Education:
- High school or equivalent (Required)
License:
- NMLS (Preferred)
Additional Compensation:
- Bonuses
Work Location:
- One location
- Multiple locations
Benefits:
- Health insurance
- Dental insurance
- Vision insurance
- Retirement plan
- Paid time off
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