What are the responsibilities and job description for the Loan Manager position at STAR Financial Credit Union?
Job Summary:
The Loan Manager is responsible for overseeing the lending operations of the credit union, ensuring efficient loan processing, compliance with regulatory requirements, and excellent member service. This role involves managing consumer lending portfolio, evaluating credit risk, and leading the loan department staff to achieve financial and strategic goals.
Key Responsibilities:
Loan Operations & Risk Management:
- Oversee the end-to-end loan process, including origination, underwriting, approval, and servicing of consumer, mortgage, and business loans.
- Ensure compliance with NCUA, CFPB, BSA/AML, and other regulatory requirements related to lending operations.
- Monitor loan portfolio performance, including delinquency rates, loan-to-share ratios, and risk assessment metrics.
- Develop and enforce lending policies and procedures to maintain high credit quality standards.
- Work within the community to foster new business growth.
Member Services & Loan Product Development:
- Work closely with members to assess their lending needs and recommend appropriate loan products.
- Develop and enhance loan products and services to meet members’ needs and drive growth.
- Ensure smooth and efficient member experience in loan applications, approvals, and funding.
Team Leadership & Development:
- Supervise, mentor, and provide training to loan officers and staff.
- Establish performance goals and provide regular feedback and coaching.
- Foster a culture of compliance, service excellence, and continuous improvement within the loan department.
Financial & Strategic Management:
- Analyze lending trends and market conditions to drive strategic lending initiatives.
- Collaborate with executive management to set and achieve loan growth targets.
- Prepare reports and presentations on loan performance and risk exposure for the CEO and Board of Directors.
Qualifications:
- Bachelor’s degree in finance, Business Administration, or a related field (preferred).
- 5 years of experience in credit union or banking lending operations, with at least 2 years in management role.
- Strong knowledge of lending regulations, credit risk assessment, and underwriting principles.
- Experience with loan origination systems (LOS) and financial software.
- Excellent leadership, communication, and problem-solving skills.
- Ability to analyze financial statements, credit reports, and market trends.