Chief Lending Officer

Job Location

Sunset - Los Angeles, CA

Remote Type

Hybrid

Position Type

Full Time

Education Level

4 Year Degree

Salary Range

$231,088.75 - $385,147.91 Salary

Travel Percentage

Up to 25%

Job Shift

Day

Job Category

Executive

Description

The Chief Lending Officer provides the leadership, management, and vision necessary to establish and implement lending solutions that result in continued growth, profitability, efficiency, and member satisfaction. As a visionary leader, the CLO proficiently plans, organizes, and directs the consumer, real estate, business, and alternative lending services of the credit union to ensure loan portfolio performance for real estate, indirect auto, consumer, business and commercial loans are profitable and meet strategic objectives. The CLO must be able to effectively and efficiently manage the entire lending process and work closely with all members of the Executive Team to ensure cooperation between all departments in order to generate new profitable business opportunities. The CLO will also be responsible for creating a culture of cooperation, accountability, and a highly engaged workforce that is people and results-driven and consistently meets and exceeds member expectations.

Major Duties and Responsibilities:

1. 25% - Loan Portfolio Management
2. 20% - Loan Production
3. 20% - Loan Quality Control
4. 15% - Teamwork and Cooperation
5. 15% - Communication
6. 5% - Other duties as assigned.

• Collaborates with Executive Leadership in identifying and implementing lending strategies to increase profitable, sustainable growth of the credit union's consumer, mortgage, and commercial lending/servicing portfolios.
• Participates in the credit union's long and short-term strategic planning process and implementation.
• Establishes strategic plans to align with the credit union's business plan.
• Establishes and ensures the implementation of target goals for the department.
• Evaluates new markets, business lines and products for growth, making recommendations and creating strategies using this knowledge to best position the credit union to grow and achieve our strategic objectives.
• Manages lending operations encompassing loan growth, portfolio quality and new product design.
• Develops credit decisioning analytics, underwriting standards, and policies.
• Responsible for loan portfolio performance evaluation and risk analysis.
• Makes recommendations for changes or additions to loan programs, processes or services which offer expanded benefits to members. Implements approved loan products and processes.
• Monitors competitor's products and services in the marketplace to ensure there are no competitive gaps in our products. Responsible for recommendations of product and service enhancements that supports the long-term vision.
• Directs the development and implementation of an annual budget for the various lending areas of the credit union assuring that information submitted accurately reflects projected revenue and expenses and is documented in a manner that supports a meaningful monthly variance review and analysis.
• Implements costs controls, income generation, and marketing efforts; monitor expenses to ensure compliance with budget. Suggest marketing campaigns to achieve budget goals.
• Maintains and reviews monthly statistics on reports to evaluate quality of loan applications submitted from various dealers, and the quality of loan decisions made by underwriters.
• Reviews loan documentation to ensure that it accurately describes loan products and remains in compliance with lending regulations. Originates loan policy and underwriting guidelines, subject to final approval, and communicates such to all personnel involved in loan origination and persons authorized to approve loans.
• Regularly reviews cash flow projections, determining cash needs to meet loan demand, excess cash for investment and borrowing requirements.
• Negotiates all loan participations and purchase agreements, reviews applicable loan documents, effects settlement and maintains files and servicing for such loans. Negotiates terms on major loan projects and substantial loan requests.
• Keeps informed of relevant developments, regulations, best practices and innovations, trends, market conditions, technological advances, and competitor activities relative to lending, electronic services products, collections, service delivery systems and channels; as well as providing timely and pertinent analysis and recommendations as appropriate.
• Designs, develops, and implements sales and employee incentive programs that effectively motivate teams and achieve the overall goals of the credit union. Tracks, evaluates, and reports results of sales and employee incentive programs to the Leadership Team.
• Actively participates in and contributes to Management Meetings, Strategic Planning Sessions, Loan Committees and Board of Director Meetings.
• Represents and promotes the credit union at external functions and in the community as required.

NOTE: The list of essential functions is not exhaustive. It may be supplemented as necessary.

Qualifications

• Bachelor's degree (BA) or equivalent from an accredited college or university, Master's preferred; 10 + years related experience and/or training; or the equivalent combination of education and experience.
• Business Lending Certification preferred.
• Real Estate Broker License preferred.
• NMLS License preferred.

Experience:

• Minimum 10 years of financial services or credit union experience.
• Minimum of 7 years of direct lending operations experience.
• Minimum of 5 years of senior or executive leadership level experience.
• Minimum of 5 years in real estate secondary market seller/servicer experience.
• Minimum of 5 years in business lending and servicing experience.
• Minimum of 5 years in alternative, indirect, and fintech lending experience.
• Knowledge of credit review and loan scoring principles, models, and methods for evaluating loan portfolio performance and asset quality. Has a working knowledge of loan participation, purchase agreements, and secondary market investment programs.
• Ability to read, analyze, and interpret legal documents, governmental regulations, financial reports, and professional publications; ability to effectively present information and respond to inquiries from senior management, attorneys, vendors, government agents, and the general public; ability to write reports and business correspondence.
• Excellent organizational and time management skills with the ability to provide leadership, supervision, and training using positive supervisory techniques to ensure maximum productivity; demonstrated ability in organization and delegation skills.
• Advanced math skills; ability to calculate interest, commissions, proportions, and percentages; balance accounts; add, subtract, multiply, and divide into all units of measure, using whole numbers, common fractions, and decimals; locate routine mathematical errors; compute rate, ratio, and percent, including the drafting and interpretation of bar graphs.
• Proficient in MS Office (Excel, Word, etc.) with the ability to learn new software programs as required.

Performs all duties and assignments in compliance with credit union policies and appropriate regulatory statutes, including BSA regulations and those that correspond with specific job duties.

This Position Description is not a complete statement of all duties and responsibilities comprising this position.