Chief Lending Officer (CLO) - Credit Union

Company: MassMutual
Location: Springfield
Posted on: November 7, 2024

Job Description:

CLO - Credit Union -Springfield, MA - Hybrid (3 days in office per week)The Opportunity:As the Chief Lending Officer (CLO) of MassMutual Federal Credit Union (MMFCU), you will be a valued member of a supportive, diverse, and skilled team. All MMFCU team members are committed to delivering a consistent and memorable experience to our members and potential members. You will be responsible for formulating and implementing the lending strategy in alignment with the organization's overarching strategic goals. You will shape the lending vision, making data-driven decisions, assessing products, and recommending interest rate structures. Additionally, you will actively engage in open communication and collaboration with other executive team members and the board of directors. -The Team:The CLO team is comprised of two loan officers, a loan underwriter, a collector and a lending assistant. The team is expected to work cross-functionally and collaboratively with other business units within the organization. -The Impact:

• Develop, propose, gain acceptance for, and implement short- and long-term lending goals by product.
• Develop and oversee lending policy and strategy; lead activity related to new product development with respect to lending and related programs.
• Provide leadership to lending and collections teams through weekly meetings, effective objective setting, delegation, and communication.
• Conduct annual reviews of existing policies. Recommend creating and/or updating policies and objectives in accordance with evolving regulations, legal requirements, industry trends, and credit union historical data.
• Forecast performance of lending products and monthly charge-offs.
• Ensure sound services and working relationships with members, governmental bodies, key staff of important vendors, outside services, and the general public.
• Manage and review delinquencies, charge-offs, bankruptcies, look-to-book, and foreclosures. Present results regularly to executive management and the board of directors.
• Ensure compliance with and implementation of approved policies, objectives, and applicable laws and regulations. Oversee instruction for all credit union personnel regarding policies, procedures, and updates, ensuring personnel have knowledge of all applicable lending and collecting aspects.Minimum Qualifications:
  • Bachelor's degree in business or a related field
  • 10+ years of experience interpreting lending policies and procedures, including State and Federal lending regulations in the areas of lending, collections, insurance, and related functions.
  • 8+ years of experience originating and overseeing lending policies.Preferred Qualifications:
    • Must be able to communicate well with direct reports, credit union employees and members of the Board of Directors
    • Understanding of audit functions and procedures and related regulations.
    • Ability to define problems, collect data, establish facts, and draw valid conclusions.
    • Familiarity with credit union system terminology and acronyms.What to Expect as Part of the Team
      • Regular collaboration with the Executive Team
      • Focused one-on-one time with your manager
      • Access to mentorship opportunities
      • Networking opportunities including access to Asian, Hispanic/Latinx, African American, women, LGBTQ, veteran and disability-focused Business Resource Groups
      • Access to learning content on Degreed and other informational platforms
      • Your ethics and integrity will be valued by a company with a strong and stable ethical business with industry leading pay and benefitsEmployment is contingent upon successfully passing a credit check.#LI-FT1Salary Range: $113,665-$182,758 MassMutual is an Equal Employment Opportunity employer Minority/Female/Sexual Orientation/Gender Identity/Individual with Disability/Protected Veteran. We welcome all persons to apply. Note: Veterans are welcome to apply, regardless of their discharge status.
        
        If you need an accommodation to complete the application process, please contact us and share the specifics of the assistance you need.

Keywords: MassMutual, Fairfield , Chief Lending Officer (CLO) - Credit Union, Executive , Springfield, Connecticut