Vice President of Consumer Lending

Company: Monterra Credit Union
Location: Redwood City
Posted on: February 4, 2025

Job Description:

Are you knowledgeable about lending operations, principles and practices, with senior-level experience leading a lending team?

Apply below after reading through all the details and supporting information regarding this job opportunity.
Are you able to effectively and professionally communicate to all levels of employees, vendors and board members?
Would you like to work at a collaborative organization that thrives on providing outstanding member service both internally and externally?

If so, we'd love to talk with you about Monterra Credit Union's Vice President of Consumer Lending Position!

Located in the heart of the Bay Area, Monterra Credit Union is a community-centric and growth-oriented financial institution. We invest in the success of people and our community by giving back, making things easier, and committing ourselves to our members' potential. Diversity, equity and inclusion are critical to our success, and we value the varied backgrounds and experiences that everyone brings to our organization. If you value collaboration, forward-thinking, and giving back, this just might be the place for you.



SALARY & BENEFITS

Monterra Credit Union reflects the value placed on employees by providing an excellent salary and benefits package:

Starting pay of $161,000 - $179,000 per year depending on experience
Semi-annual bonuses for meeting key financial and operational goals
Medical, Dental, Vision, Life, and Long-Term Disability insurances
401(k) including generous matching contributions
Discounts on financial products and services, including mortgage and auto loans
Paid time off, tuition reimbursement, and much more!



POSITION SUMMARY

The Vice President (VP) of Consumer Lending is a strategic leader responsible for planning, directing, managing, and evaluating all areas of consumer lending, including direct and indirect auto loans, all other vehicle loans (boats, RV's, motorcycles), personal loans and credit cards along with staff management, employee development, recruiting and retaining top performing employees.



This role is focused on working with staff to create a process that drives a positive member experience. The VP of Consumer Lending will strive to grow the portfolio while playing a key role in the credit union's risk management. The position is also a member of the Senior Leadership Team (SLT) which provides overall strategic leadership to the organization. Responsibilities of the role also include participating in the Credit Risk Management Committee (CRMCO) and Asset Liability Committee (ALCO) for Monterra Credit Union.



PRIMARY RESPONSIBILITIES

Serves as a member of the SLT by actively participating in SLT meetings, mentoring and holding peers and staff responsible for all areas that impact the strategic plan, as well as contributes to high quality member service, growth, engagement, risk management and profitability of Monterra CU.
Participates in developing Monterra CU's strategic plan, annual business plan ("Bold Steps"), and budget. Works with cross-functional teams in carrying out strategic initiatives.
Proactively drives new strategies by anticipating and planning for future organizational needs, member/product needs, member engagement and ensure all staff understands the overall vision in regard to the strategic goals.
Oversees all Consumer Lending operations functions including: origination, processing, underwriting, closing/funding, and servicing of all consumer loans
Provides relevant lending-related and credit risk-related input to the annual budget, and maintains accountability for achieving budgetary goals and limits.
Oversee all aspects of Consumer Lending, including coaching and mentoring of direct reports, setting semi-annual goals, conducting semi-annual performance reviews, recommending promotions and salary changes.
Collaborates with the Payments Department in credit card underwriting and credit card program management.
Participates on the Credit Risk Management Committee (CRMCO) in actively managing credit risk though sophisticated credit risk analytics, sound internal controls and operating procedures, and solid underwriting practices as a means of delivering on Monterra CU's lending-related value propositions while staying within Monterra CU's credit risk tolerances.
Participates on the Asset-Liability Committee (ALCO) in actively managing Monterra CU's interest rate risk, proposing pricing on consumer loans and dealer reserve, managing net interest margin, and staying within Monterra CU's interest rate and liquidity risk tolerances.
Review current programs/products for relevance and rate competitiveness in the marketplace.
Oversees the Indirect Lending program, dealer relationships and car sale events.
Champions credit union insurance partnerships.
Evaluates Global Auto (locator service) success and member benefit.
Partners with the Marketing team in recommending new lending products and promotions.
Promotes cross-sell opportunities throughout the organization's lines of business.
Represents Monterra CU in the community by attending community functions and participating on select Boards.
Owner of the MeridianLink LoansPQ system, which includes contract management, receiving/responding to any system notifications and alerts, vendor accountability, compliance, etc. Works closely with the System Administrators and System Subject Matter Experts as needed to ensure the system is working properly and to its fullest extent.
Ensures compliance with applicable laws and regulations, including but not limited to, the Bank Secrecy Act, the Patriot Act, and laws enforced by the Office of Foreign Assets Control.
Provides service that aligns with the Credit Union's mission of passionately delivering relevant products, services, and education tailored to help our members, employees, and communities achieve their financial goals.



PHYSICAL DEMANDS

The physical demands and work environment characteristics described are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

While performing duties of the job, employee may be required to use frequent physical activities include sitting, standing, reaching, walking, talking, bending, and constant use of hands.
Employee must occasionally lift and/or move up to 5 pounds.
Employee may occasionally work overtime.
These activities are not necessarily performed to the same degree and combination every day.



Apply Now for Consideration!



Monterra Credit Union is an equal-opportunity employer. Qualified applicants will receive consideration for employment without regard to race, religion, color, national origin, sex, sexual orientation, gender identity, disability, or protected veteran status.






Qualifications


Minimum of a Bachelor's Degree or equivalent experience in Consumer Lendinng
Minimum of 7-10 years' experience in lending for a mid- to large-size financial institution.
Ability to plan, organize and effectively run multi-faceted and dynamic consumer lending department of a mid- to large-size financial institution.
Thorough knowledge of all aspects of financial institution operational methods practices and services.
Strong data analytics capabilities.
Knowledge of financial concepts, systems, operations, methodologies, and stands of performance.
Ability to plan, implement, and evaluate the achievement of goals, objectives, and work plans.
Ability to lead, motivate, and supervise employees.
Ability to establish and maintain effective working relationship with a diverse group of people including Board Members, regulators, Members, employees, attorneys, vendors, and other parties.
Ability to communicate effectively both verbally and in writing.

Keywords: Monterra Credit Union, Cupertino , Vice President of Consumer Lending, Executive , Redwood City, California