What are the responsibilities and job description for the VP of Commercial Lending position at WMCU?
Description
WMCU is seeking a detail-oriented and strategic VP of Commercial Lending. In this role you will be responsible for providing information on credit union products and services to current and potential business members. You will develop, enhance and maintain the business lending portfolio and recommend business lending decisions.
What We’re Looking For
Approximately half of our current team members have advanced through promotions or transfers within the Credit Union. We make it a priority to promote internal candidates whenever feasible, taking your professional goals into careful consideration. Join us and embark on a journey towards personal growth, where you’ll have the opportunity to develop new skills, expand your knowledge, and accomplish goals that enhance both your professional career and personal life.
Who We Are
WMCU is a not-for-profit financial cooperative that proudly serves members at 11 locations across West Michigan. We are a local member-owned and operated credit union that strives to meet our members where they are at, helping them to grow financially and celebrate their successes. With a passion for community involvement, we are committed to supporting the communities our members and team members call home.
WMCU is an Equal Employment Opportunity (EEO) employer, ensuring fair and unbiased employment practices.
WMCU is seeking a detail-oriented and strategic VP of Commercial Lending. In this role you will be responsible for providing information on credit union products and services to current and potential business members. You will develop, enhance and maintain the business lending portfolio and recommend business lending decisions.
What We’re Looking For
- Bachelor’s degree in business, Finance, Accounting, or related field (required). Master’s degree preferred.
- Minimum of 7-10 years of experience in commercial lending, business banking, or financial services, preferably in a financial institution or credit union.
- 3-5 years of leadership or management experience within a financial institution preferred.
- Strong experience in credit analysis, underwriting, and commercial loan portfolio management.
- Knowledge of credit union or banking regulations, including NCUA, BSA/AML, and related compliance requirements.
- Deliver exceptional service to members and employees consistent with WMCU's mission, vision, and core values.
- Interview business loan applicants and gather financial, credit, and background information.
- Assist members through the business loan application process and ensure complete, accurate documentation.
- Obtain and analyze credit reports, verify debts, and calculate debt-to-income ratios and debt exposure.
- Evaluate borrower information and make lending recommendations based on underwriting analysis.
- Review and process business loan refinances and modifications of existing loans.
- Ensure all business lending activities comply with internal policies, procedures, and regulatory requirements.
- Monitor the business loan portfolio, including loan volume, covenant compliance, liens, review dates, and financial reporting requirements.
- Work with management and compliance teams to maintain effective internal controls and regulatory compliance.
- Maintain knowledge of applicable federal and state lending regulations, including NCUA, BSA/AML, and OFAC requirements.
- Verify loan documentation, repayment terms, and coordinate funding and closing activities for approved loans.
- Provide guidance on business lending matters, resolve member concerns, and explain loan denials when necessary.
- Support collection efforts on business loan accounts in partnership with the collections department.
- Promote and cross-sell business products and services to meet member needs and support organizational goals.
- Manage business lending vendor relationships, support Business Lending Committee activities, and recommend tools and resources that enhance lending operations.
- Exhibits confidence in self and others; Inspires and motivates others to perform well. Effectively influences actions and opinions of others.
- Support team members by building their confidence and motivating them to do their best. Recognize those who have performed at a high level.
- Competitive salary
- A robust free benefit package (healthcare, dental, vision insurance, life, STD & LTD)
- Health Savings Account plus company contributions
- 401K plus up to 9% company contributions
- Paid time off (10 holidays, vacation, birthday, volunteer time)
- Education reimbursement
- Annual merit raises
- Employee Assistance Program
Approximately half of our current team members have advanced through promotions or transfers within the Credit Union. We make it a priority to promote internal candidates whenever feasible, taking your professional goals into careful consideration. Join us and embark on a journey towards personal growth, where you’ll have the opportunity to develop new skills, expand your knowledge, and accomplish goals that enhance both your professional career and personal life.
Who We Are
WMCU is a not-for-profit financial cooperative that proudly serves members at 11 locations across West Michigan. We are a local member-owned and operated credit union that strives to meet our members where they are at, helping them to grow financially and celebrate their successes. With a passion for community involvement, we are committed to supporting the communities our members and team members call home.
WMCU is an Equal Employment Opportunity (EEO) employer, ensuring fair and unbiased employment practices.