DIRECTOR OF COMMERCIAL LOAN OPERATIONS

Job Summary: The Director of Commercial Loan Operations oversees all processing and servicing functions for commercial loans while fostering a high-performing team culture with a focus on member satisfaction as well as employee growth. This role manages the daily functions of the Commercial Loan Operations team, maintaining a strong focus on operational efficiency and compliance. Key responsibilities include ensuring the gathering and preparing of documents necessary to close, fund, and service commercial loans; overseeing participation reporting; ensuring adherence with legal requirements and internal/external policies and procedures; assisting with external audits; and managing all aspects of the annual review process including financial requests. The position will communicate with many different parties including members, loan officers, upper management, and third parties to ensure a smooth and timely loan process.

All job positions at 7 17 Credit Union may be assigned further duties with or without notice, verbally or in writing.  Essential duties and responsibilities include the following. 

Primary Duties:

1. Employee Management

• Lead and manage team members involved in commercial loan processing and servicing.
• Monitor and evaluate individual performance, providing monthly feedback and conducting annual performance appraisals. 
• Establish and review performance standards, complete evaluations on schedule, and administer disciplinary actions when necessary. 
• Develop and maintain a training program, including determining the training needs of the team, researching, and using available training resources, providing staff training, and measuring training results.
• Conduct regular team meetings to communicate updates, align priorities, and reinforce service standards. 
• Communicate credit union objectives, strategic plan, and mission statement to team members.
• Develop and implement career development plans for team members, including educational support, goal setting, and training opportunities. 

1. Departmental Management
   • Partner with other Commercial Lending leaders to foster a culture in Commercial Loan Operations that prioritizes member experience and teamwork, ensuring loans are closed quickly and efficiently.
   • Collaborate with Commercial Lending leadership to set annual and strategic goals for the department that align with the credit union’s goals.
   • Manage the tracking and monitoring of documentation, exceptions, and insurance.
   • Address and resolve member concerns and/or escalations regarding loan closings and loan servicing.
   • Develop and evaluate products and procedures currently in place and implement approved changes as needed.
   • Complete overrides and approvals as needed, within established policies and procedures.
   • Support Commercial Loan Operations team in a backup capacity for all departmental functions, as needed.
   • Commercial Processing/Closing Oversight
     1. Manage closing pipeline to ensure expected closing times are met.
     2. Utilize and train staff in relevant systems to aid in successful closings.
     3. Responsible for quality control processes to ensure loan file accuracy and regulatory compliance are being met.
   • Commercial Servicing Oversight
     1. Assist Member Solutions department with servicing delinquent commercial loans, including modifications, foreclosures, repossessions, Real Estate Owned properties, and disposition of assets.
     2. Oversight of all participation servicing activities including booking and ongoing participation reporting.
     3. Reviews maturing loans and expiring lines of credit and take necessary action to ensure their timely renewal.
     4. Manages annual review financial collection and escalation process and ensures annual reviews are completed timely.
2. Projects & Efficiency Improvements
   • Identify process improvement needs for Commercial Processing and Servicing to streamline, automate, and enhance workflows, tracking, reporting, and controls, with a strong focus on improving member experience and operational efficiency.
   • Lead departmental and business unit projects.
   • Lead process improvement efforts in coordination with applicable stakeholders.
   • Assists with the set-up and implementation of new products and processes utilizing technology.
   • Collaborate to create and execute strategies around participation servicing, product and system enhancements, and digital commercial servicing functionality.
3. Miscellaneous
   • Assist with audits from NCUA, ODFI or any other governmental agency or third-party vendor.
   • Build/maintain production reports to improve product and/or vendor performance.
   • Manage third-party vendor relationships and serve as an internal and external point of contact for assigned vendors.
   • Assist with management of third-party vendor relationships as well as vendor onboarding and due diligence reviews.
   • Complete annual regulation training as assigned.
   • Perform all other duties as assigned.

This position manages the following jobs: Commercial Loan Processor, Commercial Lending Administrative Support Representative

Internal and External Contacts:  Other Employees, Members, Vendors, Corporate Management 

Confidentiality Requirements: Must keep members' documents, financial information, transactions and other Credit Union business in strictest confidence.

Travel Demands:  Occasionally travel to vendors or business customers.

Prerequisite Education:

  1. High school diploma or equivalent

     2. Bachelor’s degree in business administration, finance or other related field preferred OR equivalent work experience

 Prerequisite Experience:  Must have performed the following qualifying functions at least weekly as a regular part of the job duties:

1. Ten years of financial institution experience required, with at least five years in commercial loan operations
2. Five years of management experience required
3. Excellent communication skills and ability to deal with others in a friendly, courteous and efficient manner
4. Meticulous attention to detail
5. Knowledge of regulations and compliance for commercial lending, understanding of the real estate closing process, and commercial entity and loan documentation
6. Strong problem-solving ability
7. Proficient with Microsoft Word, Excel and personal computer programs (such as Loan Origination or document preparation software)

Other Prerequisite Requirements of the position:

1. Ability to learn loan document preparation software
2. Must be able to handle information in strict confidence
3. Ability to proceed on own initiative

Required knowledge, skills and abilities once in the job:

Demonstrated team leadership abilities

Advanced knowledge of commercial lending and loan servicing to include: Commercial non-real estate and real estate lending, loan servicing, escrow, taxes, and insurance

Customer service attitude and skills to include: Team player attitude, commitment, patience, enthusiasm, creativity, listening, comprehension, initiative, cooperation, attention to detail, resourcefulness

Professionalism to include: Confidence, good judgment, appropriate demeanor and appearance, ability to interact with employees and members

Skills to include: Problem solving, decision making, time management, interpersonal communications, organization, ability to work independently, flexibility

Must be able to maintain extensive contact with applicants and members and conduct relationships in a professional manner that will enhance the marketing effort of the credit union

Must be accurate and thorough in processing loans

Certifications, licenses required once in the job:  None

Physical, Mental or Visual Demands: The physical demands described here 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 the duties of this job, the employee is regularly required to: stand, walk, sit, use hands to finger, handle, or feel objects, tools, or controls, reach with hands and arms, talk or hear. 

This job regularly requires the employee to lift _1__ to _20_ pounds __5_ times per day.

Specific vision abilities required by this job include close vision, distance vision, color vision, peripheral vision, depth perception, the ability to adjust and focus.