Commercial Production Manager
Are you a successful leader within the commercial banking space and looking for an opportunity to apply your strategic skillset? We are partnering with one of Minnesota's largest Credit Unions to find their next Commercial Production Manager who will oversee all commercial lending initiatives and participation channels for the Credit Union, in addition to overall process and workflow improvement.
Location: Duluth, MN or Remote (MN-only)
The Commercial Production Manager’s primary purpose will be to drive portfolio growth through conventional and participation channels. This position will manage a team of commercial loan officers to grow the portfolio while aligning with credit union strategic goals and objectives, including sales, loan growth, profitability, and risk tolerance. This position will support the development and implementation of the credit union strategic plan. Responsible for ensuring that outstanding service is delivered to both internal and external members. Approves or declines applications that exceed staff authority or refers loans to loan committee.
The overall objective of the position is to position the credit union as a leader in our markets in business services. Complies with all aspects of the credit union's bylaws, Board of Director policies, Bank Secrecy Act/Anti-Money Laundering, USA PATRIOT Act and OFAC regulations as it relates to this position and will diligently identify and report suspicious activity appropriately.
Roles and Responsibilities:
Lead, direct, manage and assist in all commercial lending initiatives:
- Possess effective knowledge of the Credit Union’s products and services.
- Work closely with the VP of Commercial Lending to suggest and implement strategic ideas in the overall advancement of the department and the credit union focusing on the vision, mission, and corporate goals.
- Assist with the annual budget, and quarterly forecasting for commercial loan origination with the assistance of the VP of Commercial Lending. Manage the annual budget to ensure the effective and efficient use of financial resources.
- Reviews and updates commercial loan policies and procedures with the assistance of the VP of Commercial Lending to ensure the policies and procedures provide a positive framework for member service, appropriate product availability, safety and soundness and compliance with regulations and rules.
- Researches, develops, administers, and maintains appropriate commercial lending products and services including loan pricing strategies to advance our goals and objectives.
- Engagement with reputable vendors and ongoing management of vendor relationships per internal policies and procedures.
- Supports and helps develop marketing programs for business lending products and services, making recommendations for improvements and innovation.
- Uses technology to the maximum capacity to ensure an efficiently running business lending department. Also supports the expansion of technology.
- Maintains the department’s business continuation plan.
Oversees the origination of commercial loans and lead a team of Business Services Officers to maintain and grow a loan portfolio through the creation of quality loans that maintain safety and soundness:
- Ensure that the Business Services department meets sales and service goals as established by the Credit Union.
- Responsible for exceptional member service to every member, every time by ensuring employees deliver consistently high-quality service to both internal and external members.
- Train staff to analyze the credit worthiness of applicants through analysis of financial data and determine their loan repayment capabilities.
- Manage the effective utilization of the credit unions third-party underwriting services for the credit union’s new and/or existing business loan portfolio.
- Responsible for the early identification of problem loans (declining credit quality) and transfer to loan workout specialist in a timely manner. Works in conjunction with the loan workout specialist and collections department, including collection efforts, work out arrangements and legal action.
- Support loan officers in negotiating credit terms such as; loan amount, interest rate, loan repayment methods, collateral specifications and financial reporting requirements.
- Evaluates loan requests and makes loan determinations within authority and makes recommendations (and presentations) for loans beyond authority to the loan committee.
- Ensure collaboration between Business Services Officers and operations team to drive the overall satisfaction of our members.
- Review various reports for the purpose of advancing business lending and to ensure continued asset quality and the safety and soundness of the credit union.
- Coordinate and attend community functions for all origination staff to attend. (i.e., Chamber events, Realtor functions, charity events).
- Host monthly loan origination meetings to communicate credit union information, update team with progress of department production, and ensure compliance goals are being met.
- Research local competitors to ensure our rates, closing costs, programs and products remain competitive.
- Develop, maintain, and sustain relationships with realtors, appraisers, and title companies to develop and facilitate a positive reputation of the Credit Union in the business services market.
Responsible for maintaining and enhancing a robust commercial loan participation program:
- Establish new participation relationships with credit unions, brokers, and credit union service organizations.
- Maintain the existing participation relationships that are already in place.
- Perform initial and ongoing due diligence of all participation partnerships.
- Ensures participation loans meet all credit union and regulatory requirements.
- Assists in administering participation agreements which will be executed by authorized representatives of the Credit Union.
- Work with VP of Commercial Lending to suggest and implement strategic ideas and process improvements in the participation loan process.
Manage the selection, training, development, and performance of the Business Services Officers to retain a motivated, professional workforce:
- Develop each employee to their highest potential by identifying their areas for improvement and appropriately coaching, training, or correcting the employee’s performance.
- Recognize and appreciate employees who perform at a high level.
- Hold employees accountable for their performance, attitude, and behavior.
- Recruits and selects applicants for job vacancies considering the requirements of the job, and the skills/abilities of applicants.
- Make staffing recommendations as needed to provide exceptional member service.
- Establishes and communicates job responsibilities and performance expectations (goals) to assure mutual understanding of desired results.
- Assesses performance of direct reports monthly, provides positive and constructive feedback on an ongoing basis to reinforce desired results.
- Identifies training and/or development opportunities and ensure staff receives adequate training that will result in enhanced job performance and/or career objectives.
- Coaches staff daily to fulfill the Credit Union's service promises, focusing on performance and behavior.
- Assures job descriptions are kept up to date.
- Communicates all policy and procedures to staff and informs them of their responsibility to adhere to them.
- Other duties as assigned.
Versique is one of the largest recruiting firms in the Midwest and specializes in both consulting and permanent placement. With a valuable blend of functional, industry and recruiting experience, our award-winning team of headhunters has a proven track record of delivering exceptional talent acquisition solutions. The Versique brand represents a powerful combination of “versatile” and “unique” as it hints at the concept of “search” in it’s pronunciation: ver-seek.
Versique is an equal opportunity employer committed to creating a diverse workforce. We consider all qualified applicants without regard to race, religion, color, sex, national origin, age, sexual orientation, gender identity, disability, or veteran status, among other factors.