Vice President of Consumer Lending (Onsite)

Frontwave Credit Union is seeking a Vice President of Consumer Lending to execute its  strategic plan growing the consumer lending operations and achieve  the credit union’s goals and objectives.  The ideal candidate will be a strategic leader with a proven track record of developing  strategic direction and demonstrating strong execution skills. They will foster a collaborative culture that supports all Credit Union objectives and goals. 

 

This leader will provide vision and direction, ensuring alignment with organizational goals, member satisfaction, and regulatory compliance.  They will also provide leadership to the consumer lending team, which is responsible for originating, processing, underwriting, funding and servicing various types of consumer loans.   Key responsibilities include product design and support, marketing, pricing and departmental development activities.    

 

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!

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. Leads 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.
• Analyze industry trends, market trends, and member needs to position the organization as a leader in consumer lending.
• Continuously look for opportunities to expand our presence in areas we do not serve.
• Partners and collaborates with executives 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, and 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, including but not limited to auto loans, credit cards, unsecured loans, solar loans, and lifestyle loans.
• Oversee day-to-day consumer lending operations, ensuring efficiency, compliance, and exceptional member service.
• Establishes consumer underwriting standards and Key Performance Indicators (KPIs) to achieve  goals and objectives through  effective credit risk management policies and procedures consistent with the Credit Union’s philosophy.
• Establish and monitor performance metrics to ensure optimal loan performance and profitability.
• Lead and support loan origination, underwriting, and processing teams to achieve departmental goals.
• As appropriate, develop and recommend changes to risk models, underwriting standards, programs, policies, and procedures.  Collaborates with the Collections Department to monitor, identify, and mitigate emerging consumer and home equity loan portfolio risk trends.
• 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.
• Develop and manage the annual budget for the consumer lending department.
• Monitor financial performance metrics, including loan growth, delinquency, and charge-off rates.
• Drive product innovation and development to meet evolving member needs and market demands.
• Manage loan pricing strategies, competitive positioning, and new product launches.
• Develop promotional programs to increase loan volume and member engagement.
• 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.
• Ensure all lending activities comply with federal and state regulations, and internal policies.
• Partner with the Compliance and Risk teams to assess and mitigate risks associated with consumer lending.
• Lead audits, regulatory exams, and reviews to uphold the organization’s commitment to transparency and compliance.
• 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.
• 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.
• Act as the primary liaison for consumer lending with internal and external stakeholders.
• Represent the organization at industry events, conferences, and community initiatives.
• Build and maintain strong relationships with vendors, regulatory agencies, and other partners.

PROJECTS-STRATEGIES-GOALS

• Collaborate with executive and senior management to align consumer lending strategies with organization goals.
• Lead overall business planning for the consumer lending business unit, ensuring it is aligned with the Credit Union's strategic vision.
• Support Credit Union growth objectives, profitability, and financial performance objectives
• Implement strategies to optimize loan portfolio performance and maximize revenue.
• 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

• Recruit, mentor, and develop a high-performing consumer lending team.
• Foster a culture of collaboration, innovation, and member-focused service.
• Set clear performance objectives and provide ongoing coaching and feedback.
• Hires, trains, develops, coaches, and hold 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 conduct 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.

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.

 

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

 

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.