Vice President Business Lending
Red Canoe Credit Union
Region: Northwest Washington
Contact: Kim Divine
Email: [email protected]
ESSENTIAL JOB FUNCTIONS
- VP/MANAGERIAL ROLE – Responsible for planning, organizing, implementing, and controlling the activities of the Business Lending Department in conjunction with and as directed by the CLO. Provide guidance, feedback, support and leadership to management and staff. Exhibit excellent communication skills and business acumen. Handle any questions, complaints, or problems that may arise. Complete staff performance appraisals in a timely manner.
- EVALUATE LOAN APPLICATIONS/PERFORM BUSINESS CREDIT ANALYSIS/UNDERWRITE LOANS – Consult with current and prospective business members to determine their financial needs, collect necessary loan application information, etc. Gather and analyze appropriate credit reports and financial information to evaluate the borrower’s ability to repay. Proficient in underwriting commercial credit. Participates as a member of the ‘Business Loan Committee’ .
- ACCOUNTS & OTHER SERVICES – In coordination with Operations, responsible for origination of business deposit relationships, business account growth and related processes. Includes related staff training/development and recommendation of new products and services.
- MEMBERSHIP – Develop and maintain strong branch relationships to assist in growth of branch business portfolios.
- MARKETING – Develop and maintain beneficial community and business relationships with community leaders, Small Business Development Centers and Community Development Centers to foster growth in targeted areas.
- RESOURCES – Maintain an awareness of competitive products, practices, and pricing reflecting changes in the Credit Union’s primary market areas. Keep abreast of economic and financial trends to assist in the determination of risk.
- COMPLIANCE – Observe policies and procedures and make recommendations for improvements. Assure adherence to internal controls to ensure compliance with Credit Union goals, objectives, policies, procedures, and applicable laws and regulations.
OTHER BASIC DUTIES
- Performance Management/Evaluations. Make daily observations within department, takes note of staff production, accomplishment of goals, tardiness, etc.
- Training/Cross-Training. Evaluate departmental needs and responsibilities to ensure adequately trained staff.
- Staff Relations. Assures an atmosphere of cooperation and teamwork is maintained.
- Obtain needed documents in order to meet lending criteria as outlined within loan policy and/or the Business Operating Procedural Manual. These types of documents include, but are not limited to, appraisal, credit report, title insurance, UCC searches and environmental reports.
- Discuss proposed loan with CLO and/or Business Loan Committee to obtain preliminary approval prior to proceeding with underwriting process.
- Prepare loan narrative and supporting documents for internal (or externally if needed) underwriting.
- Maintain ongoing relationship with borrower as related to the initial transaction as well as ongoing annual financial analysis.
- Obtain and review loan documents from external underwriter (if needed) in preparation for loan closing; obtain final approval from CLO and/or Business Lending Committee, as per policy.
- Coordinate closing loan activities with borrower, underwriter, and the title company if applicable.
- Answers questions relating to business accounts and loans.
- Responsible for verifying business inventories and floor plans as required.
- Responsible for oversight of preliminary collection activity of business accounts.
- Represents the credit union in the community (i.e., Trade and Service Organizations, etc.).
- Communicate approval or denial of business loans to the business member.
- Develop monthly reports to communicate results with management.
- Responsible for business continuity planning/response/resumption for immediate department/branch.
- Bachelor’s degree in business or related field preferred.
- Five+ years’ experience in managing a commercial loan portfolio and minimum of seven years in a commercial lending environment.
- Strong credit underwriting skills.