POSITION TITLE: Chief Lending Officer (CLO)
DEPARTMENT: Executive Management
CLASSIFICATION: Exempt
APPROVED BY: CEO
REPORTING RELATIONSHIPS POSITION REPORTS TO: CEO
POSITIONS SUPERVISED: VP Lending, VP Commercial Lending, VP Treasury Management, Member Solutions Manager, Community Relations Specialist, Sr. Community Relations Specialist, Marketing Manager
POSITION PURPOSE Responsible for planning, organizing, and directing the Credit Union's lending services including mortgage and real estate loans, commercial, consumer and indirect loan services, customer insurance functions, and loss prevention. Ensures lending operations are in accordance with established policies, procedures, and legal requirements. Ensures lending activities result in maximum volume, appropriate profit for the Credit Union, and a minimal delinquency ratio. Analyzes and evaluates the effectiveness of lending services. Supervises and appraises the activities of subordinate managers and ensures all lending services are professionally delivered and members are well served.
ESSENTIAL FUNCTIONS AND BASIC DUTIES Assumes responsibility for the development and implementation of effective Lending planning.
- Assists Executive Management with long and short-term Credit Union strategic planning. Responsible for productivity and lending strategies for the Credit Union.
- Participates in developing lending policies and procedures and ensures they complement organizational goals.
- Executes established goals and coordinates their implementation with other departments and with subordinates.
Ensures the effective performance of lending related services.
- Ensures lending activities are conducted in accordance with established policy guidelines and standards, and are properly documented.
- Conducts periodic reviews of existing policies to ensure effectiveness. Ensures policies are updated and are in accordance with evolving regulations, legal requirements, and industry trends.Ensures the maintenance of statistics relative to loans issued, report data, delinquency follow-up, etc.
- Ensures insurance functions support customer needs and are well coordinated with lending operations.
Assumes responsibility for the effective administration of lending functions.
- Manages and oversees expenses, pursues cost-saving measures.
- Keeps Executive Management informed of loan activities, progress toward established objectives, and of any significant problems.
- Completes required reports and related documents promptly and accurately, and in compliance with Credit Union guidelines and policies. Ensures the maintenance of department records.
- Attends meetings as required.
- Ensures the availability of adequate services and materials to support lending activities.
Effectively supervises personnel, ensuring optimal performance.
- Provides leadership to assigned personnel through effective objective setting, delegation, and communication. Conducts staff meetings as required. Assigns, directs, and coordinates work.
- Ensures personnel are well trained, effective, and optimally used. Instructs personnel regarding policy, procedure, and program changes and ensures they are well informed regarding related legal and regulatory developments.
- Conducts performance appraisals as required. Formulates and implements corrective actions as needed.
- Ensures staffing levels are appropriate and human resources are effectively utilized. Conducts interviews and assists with hiring as needed.
Assumes responsibility for ensuring professional business relationships are established and maintained with members, vendors, the business community, and trade organizations.
- Ensures members are properly informed of Credit Union loan policies and procedures.
- Ensures requests, problems, and questions are promptly resolved.
- Ensures the Credit Union's professional reputation is maintained throughout lending and business transactions with members.
Assumes responsibility for related duties as required or assigned.
- Ensures work area is clean, secure, and well maintained.
- Stays informed regarding developments and changes in lending services.
- Cross sells Credit Union services.
- Ensures compliance with applicable laws and regulations.
PERFORMANCE MEASUREMENTS- Lending services are efficiently and effectively provided in accordance with established Credit Union policies and standards and with applicable laws and regulations.
- Safe and sound lending practices are maintained which result in delinquency ratios no higher than the national averages.
- Good relationships exist with members and businesses and their financial and lending needs are properly assessed and met.
- Department personnel are well trained and efficient, and their activities are well directed and coordinated.
- Required reports and records are accurate and timely.
- Executive Management and the Board of Directors are appropriately informed of area activities and of any significant problems. Suggestions for improved efficiency are provided.
- Good working relationships, DEI and collaborative initiatives exist with credit union personnel.
QUALIFICATIONS EDUCATION/CERTIFICATION:
- Bachelor's degree in finance or a related field, or an equivalent combination of formal training and experience.
REQUIRED KNOWLEDGE:
- Thorough knowledge of Credit Union loan products and applicable policies and standards.
- Understanding of government regulations and legal requirements involving lending, collections, insurance, and related functions.
EXPERIENCE REQUIRED:
- Five to ten years of progressive lending experience in a Credit Union or similar financial institution.
SKILLS/ABILITIES:
- Strong leadership, supervisory, and interpersonal skills.
- Good organizational, managerial, and problem-solving abilities.
- A high level of analytical skills.
- Ability to operate related computer applications and business equipment.
PHYSICAL ACTIVITIES AND REQUIREMENTS OF THIS POSITION TALKING:
- Especially where one must frequently convey detailed or important instructions or ideas accurately, loudly, or quickly.
AVERAGE HEARING:
- Able to hear average or normal conversations and receive ordinary information.
REPETITIVE MOTION:
- Movements frequently and regularly required using the wrists, hands, and/or fingers.
AVERAGE VISUAL ABILITIES:
- Average, ordinary, visual acuity necessary to prepare or inspect documents or products, or operate machinery.
PHYSICAL STRENGTH:
- Sedentary work; sitting most of the time. Exerts up to 50 lbs. of force occasionally. (Almost all office jobs.)
WORKING CONDITIONS NONE: No hazardous or significantly unpleasant conditions (such as in a typical office).
MENTAL ACTIVITIES AND REQUIREMENTS OF THIS POSITION REASONING ABILITY:
- Ability to apply logical or scientific thinking to define problems, collect data, establish facts, and draw conclusions.
- Able to deal with very difficult concepts and complex variables.
MATHEMATICS ABILITY:
- Ability to compute discount, interest, profit, and loss; commission markup and selling price; and ratio, proportion, and percentage.
- Able to perform very simple algebra.
LANGUAGE ABILITY:
- Ability to read periodicals, journals, manuals, financial reports, and legal documents.
- Ability to prepare business letters, proposals, summaries, and reports using prescribed format and conforming to all rules of punctuation, grammar, diction, and style.
- Ability to conduct training, communicate at panel discussions, and make professional presentations.
INTENT AND FUNCTION OF JOB DESCRIPTIONS Job descriptions assist organizations in ensuring that the hiring process is fairly administered and that qualified employees are selected. They are also essential to an effective appraisal system and related promotion, transfer, layoff, and termination decisions. Well constructed job descriptions are an integral part of any effective compensation system. All descriptions have been reviewed to ensure that only essential functions and basic duties have been included. Peripheral tasks, only incidentally related to each position, have been excluded. Requirements, skills, and abilities included have been determined to be the minimal standards required to successfully perform the positions. In no instance, however, should the duties, responsibilities, and requirements delineated be interpreted as all-inclusive. Additional functions and requirements may be assigned by supervisors as deemed appropriate. In accordance with the Americans with Disabilities Act, it is possible that requirements may be modified to reasonably accommodate disabled individuals. However, no accommodations will be made which may pose serious health or safety risks to the employee or others or which impose undue hardships on the organization. Job descriptions are not intended as and do not create employment contracts. The organization maintains its status as an at-will employer. Employees can be terminated for any reason not prohibited by law. PI942ffedc3a1f-3371