VP, Business Services

About the Role:

The VP of Business Services is responsible for developing and leading Bay Federal’s Business Services Department. This role is strategic and tactical, requiring hands-on involvement in developing infrastructure, expanding systems, and launching business lending and deposit products. This position oversees all aspects of business loan origination, processing and underwriting, portfolio management, business deposit services, and treasury (cash) management. This leader is accountable for business relationship growth, asset quality, departmental profitability, and product/service expansion. This role requires expert knowledge of Commercial Real Estate (CRE), Small Business Administration (SBA), and Commercial & Industrial (C&I) lending, along with experience in building business banking and treasury solutions. Additionally, this position will lead strategic projects, implement operational improvements, and actively participate in ALCO and other designated committees.

Scheduled Weekly Hours:

40 hours per week; Monday – Friday; 8:30 – 4:30pm

What you’ll be doing:

• Lead and develop the Business Services Department, including building infrastructure, hiring and coaching staff, and driving a high-performance, growth-oriented culture
• Design and implement business lending, deposit, and treasury management products while establishing scalable workflows, policies, and procedures
• Develop and execute strategies to grow business membership, expand market presence, and increase revenue
• Oversee risk management, credit policies, and underwriting standards, including regular portfolio reviews to ensure a balanced and compliant portfolio
• Create and drive long-term strategic plans, annual goals, and operational roadmaps aligned with organizational priorities
• Build and maintain strong relationships with industry partners, stakeholders, and vendors to support growth and expansion opportunities
• Ensure full compliance with all regulatory requirements (including BSA, Patriot Act, and OFAC) and internal policies
• Champion exceptional member service and cross-functional collaboration to enhance the overall member experience
• Oversee department operations including budgeting, workflow optimization, and continuous process improvement
• Manage, mentor, and evaluate staff performance, including goal setting, training, and ongoing development initiatives

You’re Perfect For This Role If You Have:

• A Bachelor’s degree in Finance, Economics, or Business
• 5 years of experience in a financial institution, including commercial lending and SBA loans
• At least 5 years of business underwriting experience
• Formal commercial credit training or equivalent expertise
• Strong ability to analyze financial statements, cash flow, collateral, and borrower qualifications
• Experience interpreting complex tax returns and evaluating creditworthiness
• Deep knowledge of loan programs, credit reports, and the full loan lifecycle, including default processes
• Excellent verbal and written communication skills, with the ability to influence and present to senior stakeholders
• Strong analytical, organizational, and project management skills with the ability to manage multiple priorities independently
• Proficiency in Microsoft Office (Word, Excel, Outlook, PowerPoint) and the ability to synthesize and present data effective

Who We Are:

Bay Federal Credit Union was started in 1957 when local school teachers pooled their money together to start a credit union. This original vision and investment has grown into the area’s largest locally-owned financial institution, with nearly $1.6 billion in assets. Today, Bay Federal provides full service financial products and solutions to individuals and businesses in Santa Cruz, Monterey, and San Benito counties.

As a local, member-owned, not-for-profit financial cooperative, we are passionate about contributing to the community and being an integral part of its incredible story. Each year, our employees volunteer their time and donate their money to local non-profits, schools, and events. Our managers serve on local non-profit Boards of Director to be involved, understand challenges, and to make a real difference in the communities we serve.

From our founding as a teacher’s credit union, Bay Federal has continued our commitment to education. We offer annual student scholarships for members and offer a comprehensive array of solutions to support our member's financial wellness. Through online financial education course offerings, solutions for teachers and students, as well as special programs for youth, our financial wellness programs are free and available to the public. This is a small part of our work in creating thriving and vibrant communities!

We look forward to continuing our story, and hope that you will be a part of it!

Why You’ll Love Working at Bay Federal Credit Union

At Bay Federal, we believe that when our employees thrive, our members and community do too. We’re proud to offer a comprehensive benefits package and meaningful perks designed to support your well-being, growth, and success, both at work and beyond.

Comprehensive Benefits

• 401(k) Matching: We’ll match your contributions dollar-for-dollar up to 5% of your pay.
• Annual Bonus Eligibility: Share in our success through our annual bonus plan.
• Health Coverage That Cares: Choose from quality Medical, Dental, Vision, Life Insurance, and Long-Term Disability options.
• Employee Assistance Program: Receive up to six face-to-face sessions per person, per reason, for you and your household.
• Wellness Program: Holistic support for your physical, financial, and emotional health.
• Rocket Lawyer Legal Services: Company-sponsored program that provides legal documents, advice, and attorney assistance for a wide range of needs.
• Additional Options: Customize your coverage with Pet Insurance and Aflac supplemental plans.

Perks That Set Us Apart

• Recognized as the #1 Credit Union to Work For by Credit Union Journal.
• Named a Best Place to Work in the Bay Area by SF Business Times and Silicon Valley Journal.
• 11 paid Federal Holidays each year, so you can recharge and celebrate.
• Career Growth & Development:
• • Access to industry-standard webinars and LinkedIn Learning courses.
  • Leadership partnership with Cabrillo College – a 12-week program designed for emerging supervisors and managers.
  • $1,500 Mac McCormac Employee Scholarship to support your education goals.
• Hybrid Work Environment: Enjoy flexibility with remote work opportunities and connect in person during our biannual All-Staff Meetings.

Bay Federal Credit Union is proud to offer a competitive, robust compensation and benefits package. Bay Federal considers many factors in determining base pay such as experience, education/training, internal peer equity, job location, and other business considerations when extending an offer. For Santa Cruz, CA only, the pay scale Bay Federal reasonably expects to pay for this position is $167,385 - $223,181 annually. Salaries are based on the geographic location in which you live if working remotely.

Bay Federal provides health care benefits, life and disability insurance, paid holidays and 401k with a company match to eligible employees; along with employee paid voluntary benefits. Paid time off is accrued per paycheck for eligible employees at a rate based on your tenure. Leaves of absences are available in adherence with state and federal regulations.

Bay Federal is committed to providing equal employment opportunity for all persons regardless of age, disability, national origin, race, color, religion, sex, sexual orientation, gender, gender identity or expression, pregnancy, veteran or military status, marital and civil partnership/union status, alienage or citizenship status, creed, genetic information or any other status protected by applicable federal, state, or local law. Bay Federal is at at-will employer.

For CCPA's requirements regarding security practices and procedures, please see our privacy page here (https://www.bayfed.com/privacy). Bay Federal Credit Union takes our obligation to keep our member's data safe and secure and adhere to industry standard best practices.