Chief Lending Officer

JOB TITLE:

Chief Lending Officer 

REPORTS TO:

Chief Executive Officer

LAST REVIEWS

April 2019

JOB SUMMARY:


Consistent with providing Your Neighbourhood Credit Union’s (YNCU) members with the right financial services to live life, dream big and achieve financial success, the Chief Lending Officer (CLO) is responsible for ensuring the long-term success of YNCU’s lending operations through effective management, member service, innovation and achievement of sustainable business growth while anticipating and mitigating risk to YNCU.

The CLO leads the Retail, Commercial, Agricultural, Small and Medium Size Business lending and Collections teams, and maintains industry trends and key performance analytics to optimize lending services and product penetration to enhance the member experience.

The CLO is tasked with ensuring that YNCU is compliant with regulatory requirements from external regulators, external auditors, internal auditors, etc.

The CLO is also an active and key contributor within ALCO.

As an integral member of the Chief Leadership Team, the CLO must demonstrate superior leadership and be a role model not only for the Lending Team, but the corporate wide staff complement.


DUTIES & RESPONSIBILITIES:   

  • Actively and collaboratively participate in YNCU’s strategic planning process with the Chief Leadership Team and the Board of Directors and work closely with peers to develop and implement long and short-term plans to bring the Strategic Plans to life.  Be an advocate for internal culture, new initiatives, and transformation.
  • Facilitate the development and execution of a total lending strategy including portfolio mix, concentration mix, growth strategies, new product development and market penetration which is consistent with YNCU’s Strategic Plan objectives
  • Actively and collaboratively participate in the annual budget process to ensure alignment of department with YNCU goals and objectives
  • Create effective business plans to ensure overall soundness, quality and profitability of YNCU’s lending portfolios
  • Leverage technology, research, recommend and implement new programs, systems, and products as they pertain to Lending Services
  • Facilitate risk mitigation and ensure compliance with all regulations pertaining to Lending Services
  • Prepare and/or provide oversight to the development of YNCU lending policies, operational procedures, and goals to best serve YNCU and its members
  • Monitor adherence to sound credit practices and administration policies and procedures
  • Define appropriate limits of authority for all lending staff and ensure adequate understanding of YNCU’s lending procedures and policies
  • Ensure the execution of established goals with Team members and other business units, and monitor progress toward and sustainability of achieving set goals
  • Conduct reviews of existing policies to ensure effectiveness and ensure policies are updated and are in accordance with evolving regulations, legal requirements, and industry trends
  • Ensure that lending activities are conducted in accordance with established policy guidelines, procedures and standards, and are properly documented
  • Stay informed of trends and changes in lending programs, products and services and provide reports to the Chief Leadership Team and the Board of Directors. Monitor local, regional and national economic, financial, industry and political events which could impact YNCU.
  • Maintain up-to-date knowledge of changing legislative and regulatory climate and initiate appropriate changes to YNCU’s lending processes and policies
  • Direct and monitor lending operations including Retail, Commercial, Agricultural, Small and Medium Size Business, and Collections to ensure YNCU meets established lending goals
  • Work closely and collaboratively with the Chief, Member Experience Officer who is responsible for Retail sales, member satisfaction and service
  • Establish and monitor YNCU’s lending culture in terms of risk tolerance, loan structure, pricing and fees
  • Work closely and collaboratively with the Chief Financial Officer, who is responsible for rates, to monitor rates and pricing of all lending products to ensure competitiveness with marketplace and ultimate yields for YNCU
  • Ensure that high quality internal and external member service standards are developed, communicated, and maintained throughout Lending Services and that any member complaints are addressed promptly
  • Assume responsibility for ensuring that professional business relationships are established and maintained with members, vendors, the business community, and trade organizations
  • Ensure that YNCU’s professional reputation is maintained throughout lending and business transactions with members
  • Oversee management staff within Lending Services and provide clear expectations and direction, encourage interdependence and collaboration across the department and YNCU, evaluate performance on a consistent, timely, and regular basis, and encourage performance and a positive results-driven work environment
  • Provide leadership to assigned Team members through effective goal setting, delegation, and communication, and drive the achievement of goals in all of the lending areas
  • Conduct performance reviews as required, and formulate and implement corrective actions as needed
  • Facilitate the design of career development and training plans for each direct report to include coaching, motivation and support
  • Ensure that Team staffing levels are appropriate and human resources are effectively utilized
  • Establish and maintain effective communication strategies and coordination with Team members and others across YNCU
  • Serve collaboratively as a member of the Chief Leadership Team demonstrating an appropriate level of professionalism and leadership skills
  • Prepare reports, participate in meetings and serve on committees as required, and represent and promote YNCU at external functions
  • Perform other duties as required

QUALIFICATIONS:

  • Post secondary diploma, degree and/or certification in business, finance or a related program, or equivalent business experience
  • Minimum ten (10) years in a senior management position with solid experience in financial lending, progressive lending experience in a Credit Union or similar financial institution and expertise in all aspects of Retail, Commercial, Agricultural, Small and Medium Size Business lending and Collections
  • Strong knowledge of the Credit Unions and Caisses Populaires Act and Regulations, Credit Union By-laws and Policies
  • Working knowledge of government regulations and legal requirements involving lending, collections and related functions
  • Thorough knowledge of YNCU lending products and applicable policies and procedures
  • Sound knowledge of economic and financial trends
  • Effective understanding and use of Microsoft Office (Outlook, Excel, Word, PowerPoint) and experience with lending-related systems/platforms
  • Must have a valid Ontario driver's licence and reliable available vehicle
  • Must be bondable

COMPETENCIES:
  • Exceptional leadership ability and a record of accomplishment as part of a senior leadership team
  • Demonstrated effective leadership skills that create a positive work environment where employees thrive and the organization achieves desired results
  • Excellent communication, presentation and negotiating skills to maintain effective relationships with senior leadership, the Board of Directors, management, staff and outside business partners
  • Must have a high level of interpersonal skills to handle sensitive and confidential situations
  • Must possess a superior level of member service, be a positive role model for staff, and demonstrate a high level of commitment to the organization
  • Self-motivated and analytical with a desire to constantly improve YNCU operations
  • Must be able to move from issue identification through root cause analysis and action implementation to measurement of results
  • Ability to solve complex problems, analyze, interpret and report on trends and manage multiple projects
  • Maintain an understanding of Credit Union industry lending policies to be able to revise and update internal policies to meet legislative and regulatory requirements
  • Ability to exercise discretion and independent judgment.
  • Strong organizational skills
  • Exceptional commitment to continued personal development



 

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