We want someone great at what they do – smart, skilled, experienced and passionate. You will need to have a passion for translating the strategic business development and indirect lending initiatives into actionable, measurable outcomes and follow through in a fast-paced environment. You will be responsible for the internal and external presentation of our brand, so you will need to communicate VyStar's intention and personality. This role contributes significantly to annual key performance measures to include all strategic initiatives impacting revenue, net income, loan growth, member growth and geographic expansion and product growth.
Because you will be part of a cross organizational team as well as a departmental team, you must be the kind of person who values collaboration and is skilled at supporting and mentoring of others. Most of all we want someone whose values are aligned to our culture and who is passionate about member service and improving lives.
We are constant students of ourselves, how others see us and how we align our values and strengths to culture, service and strategy. We are committed to creating peace between our personal and professional lives by living the motto that it is not about balance it is about commitments and how we manage them.
This role encompasses the leadership responsibility for the entire indirect lending department and a growing $1.4 billion portfolio. The incumbent is responsible for providing strategic and operational direction in conjunction with the corporate business plans and objectives. They manage all facets of indirect business development efforts, indirect loanunderwriting, indirect lending and point of sale retail relationships, loan funding and relationships with all third-party vendors, dealerships and various retail merchants. The indirect lending channel encompasses numerous consumer products including Auto, Recreational Vehicles, Motorcycles, Marine and various other products to include Solar, HVAC, Unsecured, etc.
Recommends, develops and implements short and long-term strategies to ensure that VyStar maintains and balances growth and quality lending practices. Creates a professional, positive work environment where innovation in process improvement and excellent service delivery is required. Actively leads the initiatives and supports the successful implementation of all business development in the indirect channel to include programs, products, new markets and data analytics software which may include training.
Monitors quality of credit, including application volumes, approvals, and effective cross selling and declinations and keeps Senior Management advised of all trends. Provides reporting and analysis of various consumer lending activities. Takes actions as needed to make improvements, mitigate loss or strengthen identified weaknesses. Makes well thought out recommendations for changes to loan origination systems, credit criteria, and/or policy and acts on recommendations. Individual must be knowledgeable and experienced in all facets of lending; local, state and federal regulations.
In addition, the Incumbent also has primary responsibility to manage and expand the indirect lending channel including new product development and market expansion in line with credit union growth objectives.ESSENTIAL JOB FUNCTIONS:
- Directly leads the indirect consumer lending management team to ensure that all objectives are obtained. Guides and directs proper application of procedures and polices by staff to achieve quality service, improve productivity and efficiencies, maintain confidentiality and security controls for a $1.4 billion portfolio.
- Manage all aspects of indirect business development for the indirect lending vertical including all product development and rollout, system implementation and geographic expansion.
- Continue to effectively manage the 250+ dealer relationships and grow the indirect lending channel.
- Works closely with SVP Consumer Lending, Chief Lending Officer and VP Finance on product profitability and program management that aligns with key business objectives of the organization.
- Responsible for generating over $750 million in annual receivables to drive organizational achievement of annual net income, loan growth and member growth.
- Recommends innovation and effectively manages loan origination systems including data analytics platforms to improve processing efficiencies, reduce costs and enhance net interest income aligned with corporate objectives and Annual Operating Plans.
- Ability to effectively analyze complex dealer financial statements as required to determine viability of strategic partnerships that are critical to credit union key objectives.
- Analyzes content and/or develop appropriate reports to identify trends or emerging needs for Lending Services.
- Excellent leadership skills and a passion for service excellence.
- Ensures that all regulatory reporting is completed on or before required deadlines.
- Makes credit decisions as authorized by the Credit Manager/Chief Lending Officer and outlined in loan policy. Reviews, as necessary, any consumer loan product request that may require an exception to policy. If deemed appropriate, approves the request and reports it to the Chief Lending Officer.
- Responsibility oversight to monitor the reconciliation and balancing of numerous General Ledger accounts as related to business lines, loan funding and loan disbursement activities activity.
- Continually monitors and takes appropriate measures to provide quality assurance to the department in efforts to effectively balance and manage the loan portfolio.
- Continual assessment of lending practices to ensure an innovative and efficient operation.
- Responsibility to ensure all consumer, indirect loan practices are in accordance with the credit union's established procedures and policies.
- Prepares, evaluates and reviews monthly loan volume reports with SVP Consumer Lending to ensure objectives are met and to make any necessary adjustments to identified trends.
- Plans structure and resources for the department(s) to achieve optimal efficiency and performance and makes recommendations for staffing the department to the SVP Consumer Lending and Chief Lending Officer.
- Ensures the Consumer Lending Management team, has a complete understanding of all state and federal regulations (Reg Z, Reg B, Reg D, etc.).
- Manages relationships with over 250 dealers, numerous consumer retailers, all credit union branches, call center and members to resolve issues.
- Ensures proper quality control measures are in place and actively reviews those activities and results.
- Responsibility for the vendor management process as related to indirect lending, point of sale unsecured indirect lending and all third-party relationships for loan origination systems, data analytics platforms and integrated artificial intelligence platforms. Includes negotiating service levels, pricing and all critical elements of the vendor agreement in conjunction with the Enterprise Risk Management group.
- Works with Information Development Systems and Information Technology groups to make recommendations to enhance technology, programs, products and processes to ensure a first-class member experience.
- Monitors adherence to lending policies, regulations and service level standards. Provides monthly reports encompassing each of these items to the SVP Consumer Lending. Works with Sr. Indirect Business Development and Credit Manager and the Point of Sale Business Development Manager to ensure that dealer and retail relationships are established, maintained and monitored to achieve all business initiatives and goals.
- Monitors the performance of staff, coaches and mentors as necessary. Also, handles all related disciplinary action up to and including termination.
- Evaluates and processes employee loan requests according to established policy.
- Assists in the development of new products, policies and drives innovation and technology changes.
- Assists SVP Consumer Lending and the Chief Lending Officer with miscellaneous projects as assigned.
- Ensures all regulatory changes or additions are implemented in the department on time and that all staff members are properly trained.
- Develops and recommends annual business plan and budget recommendations for areas of responsibility.
- Incumbent is expected to demonstrate each of the following VyStar Excellence Behaviors in performing the duties and responsibilities of their job.
- Focus - Focus your full attention by carefully listening to and observing your client or member.
- Connect - Consistently be friendly and approachable. Demonstrate you care.
- Understand - Listen empathetically and ask questions. (70%/30%)
- Counsel - Recommend solutions based on your clients or members' needs and objectives.
- Advance - Ensure that member's expectations were exceeded.
- Verify necessary follow-up action.
JOB KNOWLEDGE, SKILLS & ABILITIES
A minimum of ten years experience is required in the financial industry with at least five of those years specifically in a senior management position within the indirect and/or consumer lending industry.
All technology used in the performance of this position include communications equipment, lending platforms, financial models, third-party vendor platforms and related security equipment. Familiarity with the operation of building equipment and machines operated by the department employees is considered beneficial in problem solving.
Extensive experience in business and market development is required across multiple platforms, products and geographic territories.
A bachelor degree in a business-related field is the minimum educational requirement. Experience in a leadership roll in a lending environment may be substituted on a 2:1 basis.