The SVP, Consumer Lending is responsible for strategy development and execution, planning and overall leadership of the businesses and functions supporting a full end-to-end application-to-servicing member experience. The SVP, Consumer Lending develops and leads the digital transformation strategy for the Consumer Lending function, including driving adoption of a digital and automated end-to-end consumer loan experience with internal and external partners (including Fintech). The incumbent develops and leads the execution of the credit union’s consumer loan platform, including identifying and building relationships with key strategic partners and service providers. The SVP, Consumer Lending is accountable for leading BECU’s consumer lending inbound and outbound team, consumer underwriting, real estate and non-real estate loan fulfillment and funding, quality control, business unit compliance, loan servicing, and credit bureau management. This position partners with other BECU business unit leaders and key business partners to drive the growth and effective operation of the business unit. As part of BECU’s Diversity, Equity, and Inclusion strategy, the SVP, Consumer Lending guides the development of products and service delivery channels that ensure equitable access for all members of the communities we serve.
- Perform all responsibilities in accordance with BECU Competencies, compliance, regulatory and Information Protection requirements.
- Manage, monitor, and provide direction for the business unit’s operations and sales, vendor/ business partner relationships and service levels.
- Set and execute overall strategy across Consumer Lending business, products and infrastructure areas.
- Drive strategic initiatives that have a material impact on BECU results.
- Actively monitor the competitive landscape and develop partnerships with Fintech or other key service providers to transform the member and employee experience, while building the scale and efficiency to support high growth.
- Lead the phone acquisition, underwriting, processing, closing, funding, servicing and credit bureau management functions
- Lead implementation of processes, procedures, and LOS (Loan Origination System) improvements to achieve continuous quality improvement, maximum efficiency, employee engagement, and member satisfaction.
- Lead cross-functional priority discussions and decision for consumer lending-related projects and initiatives.
- Develop and implement a digital and automated end-to-end consumer loan member experience; actively engage and in BECU’s broader digital transformation efforts.
- Partner with Credit Risk Management, Product Management and Marketing to drive consumer lending initiatives that support growth and create member value.
- Partner with Digital and Retail channel owners to maintain high loan application quality, maximize pull-through rates, and deliver an exceptional member experience.
- Establish and leverage a thorough knowledge of the Credit Union’s policies, systems, pricing policies/programs, profitability models, risk/audit exam procedures, and loan officer signing authority to ensure the optimal performance of the business unit.
- Identify, assess and develop new lending markets and other new business opportunities within and outside of BECU’s existing business footprint.
- Represent BECU’s Consumer Underwriting business unit in cross-Credit Union governance and lateral integration groups, such as the Credit Risk Committee (CRC), Lending Pricing Council, and key stakeholder and business partner meetings.
- Develop and implement capacity planning models to ensure staffing and production are optimized.
- Lead analysis of industries and relevant peer groups within them to determine key industry and/or member demographic group drivers and how these affect individual market participants.
- Review and monitor credit underwriting trends, reports and analysis to ensure exception rates and origination quality remains within the defined risk appetite, guidelines and policy.
- Maintain Senior Loan Officer lending authority and review and underwrite high dollar, member escalation or exception credit requests within that authority.
- Implement risk management and compliance procedures in accordance with BECU requirements and policies.
- Administer BECU personnel policies, as stated in the Employee Resources Guide, in a fair and consistent manner.
- Be an active participant of Credit Union senior management, including being knowledgeable of and actively participating in the development and execution of the annual plan, and be knowledgeable about the events, trends and developments in the financial services industry.
- Develop and submit for approval a yearly operating plan and budget, including staffing projections, for all areas of responsibility.
- Ensure proper review and quality control of loans, making sure that documentation is complete, and security pledged is sufficient.
- Provide ongoing coaching, mentoring and training within the department to develop and encourage employee performance. Meet with staff on a timely basis for the purpose of conducting Year-End and Mid-Year Reviews, using Competencies and Goals as performance measures.
- Perform additional duties as assigned.
- Bachelor’s degree in business or related discipline required, or equivalent work or educational experience. Advanced degree preferred.
- Minimum twelve years of leadership experience in high-growth financial institution required.
- Minimum ten years of senior management experience in a scaled lending production/origination operation required.
- Minimum 5 years of experience leading large consumer or small business or mortgage loan operations functions, including underwriting, loan fulfillment and servicing required.
- Experience within retail financial institution branch channels, and with mobile and on-line delivery channels required.
- Experience in the Fintech space required- either working in a related role, or in building strategic partnerships and executing implementations with Fintech providers.
- Broad-based P+L leadership experience across multiple, different business lines required.
- Experience building and leading a digital loan or product delivery process is required
- Demonstrated knowledge of emerging technologies like AI, RPA and ML and their applications or use cases in the consumer lending space.
- Experience in short range (one year) and long range (three to five years) planning.
- Good project management skills.
- Effective sales and leadership skills.
- Good interpersonal skills to ensure personnel/member related issues are handled in a fair and consistent manner.
- Proficient verbal and written communication skills to effectively communicate in the English language.
- Moderate travel to out-of-area locations.
- Full time hours required, with additional hours as necessary.