What are the responsibilities and job description for the Loan Operations Manager position at Midcoast Federal Credit Union?
Loan Operations Manager
Bath, Maine
Midcoast Federal Credit Union is seeking a Loan Operations Manager to support our Loan Operations Department. The Loan Operations Manager is responsible for providing oversight to the Credit Union's Loan Operations Department, ensuring efficient and compliant processing of first mortgages, home equity, and consumer loans. This role involves hiring, training, coaching, and managing performance, as well as collaborating with the Loan Officer and Loan Processor Team Leads to address processing issues and facilitate employee development. The Loan Operations Manager is expected to maintain comprehensive knowledge of all Credit Union products, services, and promotions to support effective loan operations. The Loan Operations Manager provides back-up support for underwriting and processing for first mortgages, land loans, home equity loans, business and consumer loans, and to the Loan Specialists with auditing and escrow processing. This is a hybrid position with some in-office work required. The ability to report to an assigned location is expected.
Essential Functions & Responsibilities:
· Responsible for operational and regulatory compliance as it relates to mortgages, home equity lines of credit, consumer loans, small business loans, originating, processing, closing, funding, delivery and servicing. Monitor and manage the timeliness and quality of the home equity and consumer loan pipelines ensuring applications have a decision within 30 days of application or contains the required documentation, per Reg B. Monitor and manage the accuracy of HMDA data from application to submission to the loan application register (LAR).
· Responsible for hiring, assessing performance, coaching and developing direct employees. Motivate, direct, and evaluate the work of direct reports while ensuring a positive team atmosphere is maintained between the loan specialist, processor, and loan officer. Work closely with the Loan Officer and Processor Team Leads to ensure successful alignment to goal achievement. Develop and coordinate with the Loan Officer and Processor Team Leads on education and training for the Loan Operations Team. Keep staff updated on regulatory and program/guideline changes.
· Support Loan Officer and Processor Team Leads on processing issues. Assure proper input, set up, maintenance, and transfer of mortgage loan data into all software programs including document imaging. Ensure that proper QC and auditing are performed to ensure compliance with established guidelines and regulations. Assist with external audit support as needed.
· Maintain knowledge of all Credit Union products, services, and promotions. Work with Marketing staff to develop new lending promotions and advertising campaigns to meet set goals. Oversee and evaluate products, policies, and procedures and implement changes in conjunction with the VP Loan Operations, as needed to maintain regulatory compliance and efficiency. Demonstrates compliance with all internal procedures, applicable policies, and regulations.
Experience
3-5 years of similar or related experience. This position oversees a team of 11 direct reports; previous experience managing a larger team and strong people skills are essential.
Education
A two-year college degree, or completion of a specialized certification or licensing, or completion of specialized training courses conducted by vendors, or job-specific skills acquired through an apprenticeship program.
Benefits
Compensation commensurate with experience. Midcoast FCU offers a comprehensive benefits package including medical, dental, short / long term disability, life insurance, 401(k) with employer match program, paid time off, paid birthday off and additional wellness-based incentives.
Midcoast FCU is an Equal Opportunity Employer
Pay: $75,000.00 - $90,000.00 per year
Benefits:
- 401(k)
- 401(k) matching
- Dental insurance
- Employee assistance program
- Employee discount
- Health insurance
- Life insurance
- Paid time off
- Parental leave
- Professional development assistance
- Referral program
- Tuition reimbursement
- Vision insurance
Work Location: Hybrid remote in Bath, ME 04530
Salary : $75,000 - $90,000