VP of Business Services

*This exciting role is for Bay Federal Credit Union, based in or around Capitola, California*

Role: VP of Business Services

Location: Open to Remote, Preferably West Coast

Expectation: Reasonably frequent visits to corporate HQ

Role Specifics

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.

Functions and Responsibilities

1.    Leadership and Department Development: Lead the Business Services Department, including expanding operational infrastructure, hiring and developing staff, and implementing best practices. Foster a culture of success and drive long-term strategic growth while ensuring day-to-day tactical execution.

2.    Department and Product Development: Recommend and implement business lending and deposit products, treasury management services, and risk assessment tools. Lead high-performing teams ensuring operational excellence and service delivery that aligns with member expectations. Establish workflows, policies, and procedures to ensure scalability, efficiency, and compliance. 

3.    Growth and Business Expansion: Develop and execute strategies to attract and retain business members, expand the credit union’s market presence, and drive revenue growth.

4.    Risk Management and Infrastructure: Oversee risk management frameworks, credit policies, and underwriting standards to ensure a balanced portfolio. Conduct regular loan and portfolio reviews to mitigate risk.

5.    Strategy and Roadmap Creation: Lead the development of long-term business plans, annual strategies, and roadmaps for Business Services. Assess the impact of new programs, operational models, and regulatory changes.

6.    Networking and Partnerships: Build relationships with industry partners, loan participation partners, and key stakeholders to identify trends, develop partnerships, and explore expansion opportunities.

7.    Compliance and Regulatory Adherence: Implement systems and processes to fully comply with regulatory standards and internal policies, including loan documentation, participation agreements, and contractual obligations. Maintain compliance with the Bank Secrecy Act, Patriot Act, and Office of Foreign Assets Control regulations.

8.    Brand Representation and Stakeholder Engagement: Promote and maintain a positive image of Bay Federal Credit Union across all interactions with members, employees, vendors, and the community.

9.    Member Service Philosophy and Collaboration: Uphold the credit union’s service philosophy in all interactions, ensuring seamless collaboration across departments to enhance the member experience.

Supervisory Responsibilities

1.    Establishes the scope of authority and responsibility for direct reports.

2.    Periodically meets with direct reports to establish individual and team performance goals, review, coach, and monitor performance against goals, discuss significant operations issues, and review staff training and development requirements. Establishes goals and measures to track the department's success.

3.    Promotes teamwork among staff to ensure collaborative work and the achievement of standards for excellent member service.

4.    Maintains effective communication with all management staff to ensure coordination and exchange of information for accomplishing Credit Union goals. Gathers and disseminates information to all areas/departments regarding policy and procedure changes and other important issues involving assigned areas.

5.    Analyzes the department's workflow and continuously recommends changes to improve efficiency and reduce potential losses. Recommends and monitors annual budgets to maximize cost effective operations for the department.

6.    Coordinates the hiring, orientation, and training of new staff.

7.    Researches and responds promptly to concerns raised by internal and external Bay Federal auditors and regulatory agencies.

8.    Conducts performance evaluations of direct reports and approves performance evaluations of indirect reports.

9.    Supports projects and programs as assigned.

10. Maintains relations with all necessary vendors and negotiates supplier contracts.

Qualifications

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Education and/or Experience:

·      B.A. or B.S. degree in Finance, Economics, or Business is required.

·      5 or more years of experience in a financial institution as a commercial lending manager (or equivalent) dealing with commercial and SBA loans and treasury management.

·      Minimum of 5 years of experience in business underwriting.

·      Formal Commercial Credit Training or skills commensurate with this level of knowledge.

·      Excellent verbal and written communication skills, with the ability to communicate effectively to all levels of internal and external personnel.

·      Ability to read, interpret, and analyze financial statements, including cash flow, collateral analysis, and interest and payment calculations.

·      Ability to read, understand, and analyze complex tax returns to determine the qualifications of a potential borrower.

·      Thorough understanding of loan programs, credit reports, personal and business financials, audits, and loan default process.

·      The ability to motivate or influence senior-level personnel inside or outside the organization is critical to the job, requiring a significant level of influence and trust. Obtaining cooperation and agreement on important outcomes via frequent material presentations and professional written communication skills is essential to the position.

Other Skills:

·      Proficient with MS Office (Word, Excel, Outlook, PowerPoint)

·      Demonstrated persistence and willingness to take calculated risks.

·      Ability to work independently while managing multiple projects/processes.

·      Strong analytical and reasoning skills and organizational and time management skills.

·      The ability to effectively communicate and, when necessary, effectively challenge at all levels of the organization and summarize data to the reader's needs.

·      Demonstrates effective organizational and planning skills and can successfully guide projects through to completion.

·      Effective diplomacy and conflict management skills, with a strong ability to work across the organization and at all levels.

Language Skills:

·      Requires strong verbal and written communication skills.

·      Ability to write routine and advanced reports, business correspondence, and procedure manuals.

·      Ability to effectively present information and respond to questions from management, staff members, and the general public.

·      Ability to read, analyze, and interpret general business periodicals, professional journals, technical procedures, or governmental regulations related to this position's essential duties and responsibilities.

Mathematical Skills:

·      Ability to compute rate, ratio, and percentage.

·      Ability to add, subtract, multiply, and divide in all units of measure, using whole numbers, common fractions, and decimals.

Physical Skills:

·      While performing duties of the job, employee may be required to use frequent physical activities including sitting, standing, reaching, walking, talking, bending, and constant use of hands.

·      The employee must occasionally lift and/or move up to 5 pounds.

·      Corrected vision in normal range.

Important Disclaimer Notice:

I understand and affirm that in exercising the foregoing duties and responsibilities, I am required to use my judgment and independent discretion. I also agree that if at any time I do not feel I am spending a majority of time doing the supervisory responsibilities as set forth above, I will immediately notify management in writing of this fact.

The job duties, elements, responsibilities, skills, functions, experience, educational factors and the requirements and conditions listed in this job description are representative only and not exhaustive of the tasks that an employee may be required to perform. Bay Federal Credit Union reserves the right to revise this job description at any time and to require employees to perform other tasks as circumstances or conditions of its business, competitive considerations, or work environment change.

About Saltee Co ^ Talent

Saltee Co ^ Talent is the talent division of Saltee Co. Our expertise in identifying top talent for organization is only built and supported through crisp execution and an unwavering commitment to excellence. Additionally, Saltee Co serves banks and credit unions to deliver growth, talent and advisory services. Go check out www.getsaltee.com to learn more.