The Assistant Vice President Loan Operations Manager oversees the processing, underwriting, and closing departments on loans origination through the residential and consumer lending channels. Will design, manage, and administer systems, processes, and procedures to ensure accurate and timely processing in a lending compliant manner; leads the loan operations staff; and ensures the department meets organizational goals. Communicates and collaborates with internal stakeholders to promote efficient and lending compliant workflow, creating a work environment that supports engagement and teamwork that is consistent with the credit union’s vision, core values, and guidelines.
Duties and Responsibilities:
- Oversees day-to-day operations and workflows between processing, underwriting, and closing departments within the residential and consumer lending departments.
- Responsible for the quality control process and implements corrective action when needed.
- Communicates with mortgage origination, loan operations, and retail staff on policy, procedures, and customer issues. Advises Mortgage Loan Originators on complex underwriting
- Oversees secondary market investor sales, packaging, and delivery for loans sold on the secondary market to ensure loan is delivered for sale in a timely manner.
- Conducts active pipeline management to ensure distribution of loan files, adherence to regulatory timing requirements, and closings within required time frames. Approves residential/consumer loans in accordance with the credit union’s lending policy.
- Keeps abreast of residential and consumer loan products, changes to secondary market underwriting guidelines (Fannie Mae, Freddie Mac, Ginnie Mae, Third Party Investors) and the applicable state and federal regulations and compliance issues. Complies will all federal, state, and local laws and regulations, policies, and procedures. Responsible for gathering necessary data and completing a variety of regulatory reports such as HMDA, CRA compliance, and the FDIC quarterly report.
- Implements policies and procedures within lending operations and assists with input when updates are needed to ensure compliance with federal, state and secondary market guidelines. Communicates revisions to lending operations. Performs operational audits to ensure compliance with established policies and procedures, and for compliance with laws and regulations in preparation for audits and regulatory exams.
- Manages the resolution of issues and questions from regulatory agencies, auditors, and examiners in regard to residential/consumer loan practices.
- Conducts periodic performance appraisals and coaches Loan Officers, Processors, Underwriters, and Closers when appropriate to find solutions to problems where possible.
- Performs additional duties as required.
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily, and comply with all federal, state, NCUA, secondary market, and internal credit union policies and procedures. The qualifications below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform essential functions.
The position requires the ability to read and interpret documents, along with the ability to write routine reports and correspondence. The incumbent must possess the ability to speak effectively in one-on-one groups or large groups and the ability to respond to inquiries or complaints in a professional manner.
The incumbent should possess the ability to work with mathematical concepts such as statistics, fractions, percentages, ratios, and proportions to credit union situations. Must be proficient with Excel reporting and using formulaic functions for data analysis, trend analysis, reporting, and presentation.
Must have the ability to define problems, collect data, establish facts, and draw valid conclusions. Ability to interpret a variety of complex instructions furnished in written, oral, diagram, or schedule form.
The position requires strong experience with Loan Origination systems, ancillary loan systems, and vendors such as Optimal Blue, Credit Union Core operating systems, and Microsoft Word, Excel, and PowerPoint.
- Bachelor’s degree in business administration or related field.
- Minimum of 10 years of residential and consumer lending experience and 3 years of management experience.
- An FHA DE designation is required and a VA LAPP/SAR designation is preferred.
- Experience with Fannie Mae, Freddie Mac, HUD/VA/USDA Technology (DU, LPA, UCDP, CU, LCA, CPM, Total Scorecard, FHA Connection).
- Strong knowledge and understanding of residential and consumer lending products, and secondary market underwriting guidelines (Fannie Mae, Freddie Mac, FHA, VA, USDA).
- Expert knowledge of Ability to Repay (TRID), Reg B, Reg C, TRID, RESPA, HMDA, HUD requirements, federal, and state specific requirements related to residential lending.
- Previous experience with Encompass preferred.
- Excellent communication, problem-solving, and organizational skills.
- Ability to work in a team environment, as well as independently with desire to learn and grow.
- Ability to multitask while working in a fast-paced environment with strong attention to detail.
Working Conditions and Physical Effort
The work environment characteristics described here are representative of those an Accountant encounters while performing the essential functions of this job.
- Regular physical exertion required to lift up to 20 lbs.
- Work performed is typically sedentary with occasional periods of walking and standing. May also require stooping, kneeling, and crouching.
- Utilizes finger dexterity to perform computer options.
- Must be capable of effective oral communication via writing, telephone, or face-to-face.
- Travel between locations and attend meetings.
Mental & Visual Demands
- Mental concentration required to work with numbers and spreadsheets.
- Work requires visual effort of significant duration to review documents, drive to client locations, and interact with others.
Work Environment and Hazards
- Work environment is in a typical office setting free from noise and hazards.