Svp, Consumer Lending Jobs

The Company

From humble beginnings in California’s state capital in 1933, our client has grown to become a leading credit union in California and the sixth largest in the nation, with more than one million members and consumers, and $19 billion in assets. As a dynamic and trusted leader, our client is committed to enhancing the financial well-being of Californians and their diverse communities.

As a not-for-profit credit union, the company returns its earnings to members - not stockholders - through higher returns on savings, lower interest rates on loans, and more free services. Our client helps honest, hard-working families and individuals lead financially better lives. Anyone who lives or works in California can become a member. The company serves consumers throughout California with more than 63 retail branches, 8 home loan centers, and over 30,000 CO-OP ATMs nationwide. They provide convenient and value-added products and services to help their members make the most of their money.

The company is a caring and committed partner and leader, giving back to communities and organizations that make a positive impact on the people they serve. Our client 1 strives to increase educational opportunity, strengthen financial well-being, and make their communities great.

Our client’s culture of excellence aligns with our brand and embraces collaboration, innovation, diversity, and well-being. The company is committed to enhancing the lives of our employees, members and communities.

Key Pointers:

• 2018: The company is the first state-chartered credit union to be granted statewide field of membership in California. Anybody who lives and/or regularly works in California is now eligible for membership. Membership reaches one million strong.
• Named "Best-in-State" Employer by Forbes for second consecutive year and counting.
• A survey of consumers ranked us among the top financial services brands nationwide for Best Customer Experience (American Banker and Monigle, 2022), for qualities such as trustworthiness, service, and community involvement.
• 2021: Our client is ranked Top 3 “Most Admired” Financial Institution by American Banker. Reaches records with $6 billion in loans granted to members and $18.3 billion in assets.

Purpose of the Position

Reporting to the Executive Vice President, Chief Lending Officer, the Senior Vice President of Consumer Lending plans, organizes, directs, and controls all aspects of the company's consumer lending programs to maintain suitable quantity and quality of lending and financial performance. This position is responsible for growing the company’s consumer lending program, which will be both fiscally healthy and also responsive to the needs of the company’s current and potential members.

The position has P&L oversight for existing and future consumer lending products and businesses including but not limited to auto loans, credit cards, unsecured lines and loans, and other asset classes. S/he is accountable for driving the overall strategic direction , profitability and critical performance metrics of the business and products in order to meet credit union objectives and goals.

With $7B in outstanding loans, the Senior Vice President of Consumer Lending will have an opportunity to significantly grow the book through identifying new channels and partnerships, specifically with aggregators and/or other fintech firms, developing a direct-to-consumer approach, improving cross-sell, and broadening reach of member acquisition through economy of scale. This leader will be responsible for building a team, while leveraging the existing resources across distribution, product, operations, risk, finance, and technology.

Key Responsibilities

• Act as the accountable executive across the company’s consumer lending platforms to optimize the product suite and execute on strategic initiatives while maintaining applicable risk management techniques.
• Develop and execute strategies to provide lending services and products to members that have not established an adequate credit record to qualify for our standard risk profile.
• Lead and direct the consumer lending programs of the company, to include business development, partnerships, production, pricing, underwriting, fulfillment, operations and service.
• Represent the company in contacts with business and trade associations, members, and regulatory agencies. Attend civil functions and otherwise promote the credit union’s image.
• Participate on the Asset/Liability Committee to monitor economic conditions, adjustments, and effects on the credit union portfolio and appropriate marketing responses to competitive market.
• Foster a working environment for the lending teams that delivers exceptional service to members and other internal stakeholders.
• Monitor lending growth, market share, revenue maximization, and satisfaction of member demand.
• Take responsibility for the success (including profit and loss oversight), management, synergy, and operating efficiency of the indirect and direct consumer lending program.
• Travel as required.
• Develop market analysis data that is used to ideate and support emerging business models and new consumer lending initiatives.
• Partner with Vendor Management, Finance, Operations, Compliance, Risk Management, and Marketing, as well as other Retail Banking Leadership, to optimize various strategies and initiatives.
• Maintain a thorough understanding of state and federal laws and regulations related to credit union compliance including bank secrecy and anti money laundering laws appropriate to the position.
• Oversee and monitor competitive pricing and product features positioning to ensure optimized pricing.
• Foster a positive and engaging work environment for each team member by promoting skill development, coaching for improvement and growth, inspiring others through your words and actions, ensuring positive employee morale throughout the company, and embracing our mission, vision and core values.
• Conduct on going investigation, analysis, and review of current loan policy to ensure that it is concise, and workable. Propose and implement new policy as needed.
• Maintain quantity and quality of lending through proper staffing levels, on going training and review, and supervision.
• Work closely with multiple internal and external parties on initiatives and program implementation as well as business analytics.

The Candidate

Experience and Professional Qualifications

The candidate will possess effective oral and written communication skills required to direct and lead the company’s lending program. A transformational leader, this individual will possess a track record of success growing a P&L in the consumer lending space and across a diverse set of consumer asset classes. The ideal candidate will have experience developing strategic plans that meet overall company objectives in both direct and indirect channels. Additionally, s/he will have implemented a buy vs. build strategy and be partnership savvy in order to optimize the business opportunities and diversify revenue streams. S/he will know how to establish partnerships, build credibility in a matrix environment, and be able to articulate the vision to key stakeholders both internally and externally. This individual will possess a strong understanding of the competitive market, knowledge of customer behaviors across a subset of segments, understand pricing nuances and risk parameters with a track record of how to best navigate changing market dynamics.

Skills and Competencies

The ideal candidate will have the following characteristics:

• Fifteen years of management experience with medium to large sized financial services institutions and/or fintech companies with an emphasis on high volume consumer lending products.
• Familiarity with US regulatory, compliance, and governance
• Thorough knowledge of the credit union and/or banking industry required
• Expertise in product /pricing /marketing /sales/compensation and competitive landscape
• Outstanding communication skills; able to foster close and collaborative productive working relationships across the organization
• Demonstrated team leadership skills and the ability to virtually or matrix manage larger teams of professional analytical employees
• Ability to review information and solve problems quickly
• Well organized, disciplined planner, and implementer with sound strategic judgment, thinking and vision
• Ability to anticipate trends in credit risk management and prepare to mitigate
• Proven successful portfolio management experience in consumer lending
• Knowledge regarding laws, rules, regulations, procedures impacting credit union lending and marketing activity, management, consumer lending. Strong oral and written communication skills, and sound knowledge of principles of business administration.