Vice President, Consumer Lending

Redwood Credit Union • Napa, CA

1d • $179,248 - $210,873 • Onsite

About The Position

Redwood Credit Union is seeking 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†). This role is responsible for the full consumer credit portfolio (auto, personal, credit card and indirect lending) across the credit union, driving growth through digital first experiences, modernizing lending through technology, and deepening Member relationships through data-driven personalization. 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.

Requirements

• Ability to manage and develop multiple diverse sales and operational units with the inherent conflicts from demands and priorities.
• Thorough knowledge of all aspects of financial institution consumer lending methods, practices, and services; knowledge of consumer lending best practices.
• Thorough knowledge of modern management techniques and practices.
• Current knowledge of all laws, rules and regulations pertaining to consumer lending and consumer loan documentation.
• Technology fluency and comfortability in driving change management with an appetite for applying AI/emerging tech in to lending processes.
• Knowledge of credit and interest rate economics.
• Knowledge of assets, liabilities, and credit dynamics in a lending environment.
• Strong negotiation, persuasion, and public speaking skills.
• Strong analytical skills with the ability to analyze problems and opportunities, identify and evaluate alternatives, and develop sound, effective approaches.
• Ability to plan, implement, and evaluate the achievement of strategic and business plan goals, objectives, and work plans.
• Ability to lead, motivate, and supervise team members.
• Ability to communicate effectively, both verbally and in writing.
• Ability to establish and maintain effective working relationships with a diverse group of people including Board Members, regulators, team members, attorneys, vendors, partners, and other parties.
• Ability to travel 20% of time.
• Bachelor's degree in business administration, finance, or closely related field.
• Minimum of ten years’ experience with lending in a financial institution.
• Minimum of three years of progressive leadership experience.

Nice To Haves

• Hands-on experience or strong working knowledge of AI/Machine Learning applications used in lending as well as a deep understanding of pre-approval execution.

Responsibilities

• 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.
• Recognize problems, issues, and opportunities; evaluate and consider alternatives; develop, present, and recommend strategic and tactical opportunities; and make appropriate decisions.
• 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 IT/data teams to build and enhance lending automation, AI-driven tools, real time decisioning, and predictive analytics to improve the lending lifecycle.
• On behalf of RCU, “own†the end-to-end borrower experience including the relationships with key assigned vendor partners such as SavvyMoney, MeridianLink and CU Direct.
• Evaluate and implement vendor partnerships to drive growth, improve speed, delivery and Member Experience.
• Participate in and represent RCU at internal and external events, conferences, and community functions. Additionally, provide leadership and participation in industry trade groups, advisory boards, etc.
• 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.
• Design and execute lending strategies that increase Member engagement and product adoption.
• Partner with Marketing and branch teams on referral programs, relationship-based pricing and Member engagement initiatives.
• 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 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.
• 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.
• Monitor portfolio performance, delinquency trends, and early warning indicators; recommend adjustments to strategy proactively.
• 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.
• 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 VP/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.
• 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.

Benefits

• 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 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!

What This Job Offers

• Job Type: Full-time
• Career Level: Executive