Vice President of Consumer Lending (Onsite)

Overview

Frontwave Credit Union is searching for a Vice President of Consumer Lending to execute the Credit Unions strategic plan growing the consumer lending operations and meeting credit union’s goals and objectives. The successful VP candidate will be a strategic leader with a proven ability to develop strategic direction and strong execution skills promoting a culture of collaboration that supports all Credit Union objectives and goals.

The Vice President of Consumer Lending will be charged with driving the growth of consumer lending, though all delivery channels including Internet, phone, indirect and branch for auto, credit cards, unsecured, solar, recreational vehicles, motorcycles and watercraft portfolios by creating frictionless member and staff experience through operational excellence in all facets of the loan origination cycle. This position is responsible for providing leadership to the consumer lending team responsible for originating, processing, underwriting, funding and servicing various types of consumer loans. Responsibilities include product design and support, marketing, pricing and development activities of the department.

About Frontwave Credit Union:

Frontwave Credit Union is a member-owned not-for-profit financial institution serving San Diego, Riverside, and San Bernardino counties. Founded in 1952, we have grown to 13 branches with 120,000 members and manage over a billion in assets. At Frontwave Credit Union, we are focused on creating consumer solutions to provide our members and the communities we serve with products and services that enhance the quality of life for our members through exceptional service and the progressive application of technology.

What’s In It For You:

Competitive pay, 401k matching, mortgage and auto discounts.

9-27 days of PTO per year (based on tenure) and 10 paid holidays.

Affordable medical, dental, vision health plans, and Flexible Spending Account.

Employee Assistance Program with a variety of services.

Career development, training, and coaching, mentoring; tuition reimbursement up to $4,000/year.

Culture of excellence and continuous improvement.

We strive to be the best place you’ve ever worked!

Responsibilities

ESSENTIAL DUTIES AND RESPONSIBILITIES:

Includes the following non-inclusive list. Other duties may be assigned. All duties are to be performed in compliance with applicable laws, regulations and Credit Union policies and procedures.

LEADERSHIP COMPETENCIES

• Provides strategic leadership and vision for continual growth and lead the development and implementation of short and long-term strategies, goals and objectives that increase our share of the market in consumer lending products and services within the communities we serve.
• Continuously look for opportunities to expand our presence in areas we do not currently serve.
• Support Credit Union growth objectives, profitability and financial performance objectives
• Partners and collaborates with executive and stakeholders to develop and implement effective consumer lending products that support our short term and long term strategic objectives.
• Responsible for business development, production, relationship building for Indirect Lending origination, acquisition and retention of consumer loan products.
• Responsible for creating, establishing, and monitoring various consumer lending products and programs, to included but not limited to, auto loans, credit cards, unsecured loans, solar loans and lifestyle loans.
• Establishes consumer underwriting standards and Key Performance Indicators (KPI’s) to obtain goals and objectives through appropriate credit risk management policies and procedures consistent with the Credit Union’s philosophy, polices and criteria.
• Develop and recommend changes to risk models, underwriting standards, programs, policies and procedures as appropriate. Collaborates with the Collections Department to monitor, identify, and mitigate emerging risk trends within the consumer and home equity loan portfolios.
• Manage the performance of the pricing model and decision engine in the loan origination system for optimal risk and use.
• Monitor loan portfolio performance and trends to identify opportunities and loan quality issues with solutions.
• Collaborate with stakeholders to manage the Consumer Lending Quality Control program.
• Collaborate with internal and external stakeholders to ensure products, processes, systems, and policies and procedures are adhered to.
• Drives operational and business efficiencies of Frontwave’s consumer lending through all channels.
• Review the application lifecycle and portfolio performance to ensure that policies and procedures are adhered to and that continual optimization is a priority.
• Lead overall business planning for the consumer lending business unit, ensuring it is aligned with the strategic vision of the Credit Union.
• Monitor competitive pricing and product features positioning to ensure optimized value.
• Maintain a thorough understanding of state and federal laws and regulations related to credit union compliance.
  
  

PROJECTS – STRATEGIES-GOALS

• Manage consumer loan portfolio through lending analytics to ensure credit union financial goals are met or exceeded.
• Drive profitability while articulating the member value and demonstrating a commitment to the mission of the Credit Union.
• Promotes high levels of member service and satisfaction through all Credit Union channels.
• Capable of leading initiatives while leveraging a broad range of teams at the Credit Union.
• Coordinates with operations and marketing on all consumer loan campaigns to ensure timely and effective results.
  
  

STAFF

• Hires, trains, develops, coaches, and holds staff accountable to KPI’s and Service Excellence Standards.
• Prepares and presents performance evaluations to employees.
• Monitors, maintains, and documents accurate records for hours worked, overtime hours, and time off.
• Plans and conducts regularly scheduled staff meetings.
• Organizes, prepares, and conducts training sessions as needed
• Collaborates with the Learning and Development department to ensure staff throughout the Credit Union are knowledgeable in consumer lending and home equity loans.
• Ensure effective communication of Frontwave’s consumer lending philosophy between departments and branches to promote the member experience.
  
  

Qualifications

EDUCATION and/or EXPERIENCE:

Bachelor’s Degree in Business or related discipline. Minimum of ten (10) plus years of consumer lending experience and five (5) plus years in mid-level management or higher in consumer lending directing and growing a consumer loan portfolio with in the financial industry. FinTech experience preferred.

QUALIFICATIONS:

• Strong thorough knowledge of consumer lending products and programs including auto, credit cards, unsecured, other secured products and solar loans.
• Knowledgeable of Consumer lending related insurance products such as Guarantee Asset Protection (GAP), Mechanical Breakdown Protection (MBP) and Debt Protection.
• Solid loan servicing and DMV background
• Strong underwriting and analytical skills necessary to evaluate credit requests.
• Must have a working knowledge of the Microsoft suite of office programs.
• Sales Management
• Proficient in use of Microsoft word processing, spreadsheet, database, and presentation applications. Knowledge of consumer lending loan origination system (LOS) is required, knowledge of MeridianLink LOS is desirable.
  
  

Salary Range: $132,092.48 - $198,138.72

Service Excellence Standards

When joining Frontwave Credit Union, you can expect to be a part of a workforce committed to the following Service Excellence standards:

• We see it. We own it. We get it done.
• We ignite positive experiences.
• We do things right every time.
• We are collaborators – united, cohesive and engaged.
• We innovate and evolve.
• We create memorable experiences for life.
• We starts with me.