Job Summary: The Director of Commercial Loan Operations oversees all processing and servicing functions for commercial loans while fostering a high-performing team culture with a focus on member satisfaction as well as employee growth. This role manages the daily functions of the Commercial Loan Operations team, maintaining a strong focus on operational efficiency and compliance. Key responsibilities include ensuring the gathering and preparing of documents necessary to close, fund, and service commercial loans; overseeing participation reporting; ensuring adherence with legal requirements and internal/external policies and procedures; assisting with external audits; and managing all aspects of the annual review process including financial requests. The position will communicate with many different parties including members, loan officers, upper management, and third parties to ensure a smooth and timely loan process.

All job positions at 7 17 Credit Union may be assigned further duties with or without notice, verbally or in writing.  Essential duties and responsibilities include the following. 

Primary Duties:

1. Employee Management

• Lead and manage team members involved in commercial loan processing and servicing.


• Monitor and evaluate individual performance, providing monthly feedback and conducting annual performance appraisals. 


• Establish and review performance standards, complete evaluations on schedule, and administer disciplinary actions when necessary. 


• Develop and maintain a training program, including determining the training needs of the team, researching, and using available training resources, providing staff training, and measuring training results.


• Conduct regular team meetings to communicate updates, align priorities, and reinforce service standards. 


• Communicate credit union objectives, strategic plan, and mission statement to team members.


• Develop and implement career development plans for team members, including educational support, goal setting, and training opportunities. 

1. Departmental Management
   
   
   
   
   • Partner with other Commercial Lending leaders to foster a culture in Commercial Loan Operations that prioritizes member experience and teamwork, ensuring loans are closed quickly and efficiently.
   
   
   • Collaborate with Commercial Lending leadership to set annual and strategic goals for the department that align with the credit union’s goals.
   
   
   • Manage the tracking and monitoring of documentation, exceptions, and insurance.
   
   
   • Address and resolve member concerns and/or escalations regarding loan closings and loan servicing.
   
   
   • Develop and evaluate products and procedures currently in place and implement approved changes as needed.
   
   
   • Complete overrides and approvals as needed, within established policies and procedures.
   
   
   • Support Commercial Loan Operations team in a backup capacity for all departmental functions, as needed.
   
   
   • Commercial Processing/Closing Oversight
     
     
     
     1. Manage closing pipeline to ensure expected closing times are met.
     
     
     2. Utilize and train staff in relevant systems to aid in successful closings.
     
     
     3. Responsible for quality control processes to ensure loan file accuracy and regulatory compliance are being met.
     
     
     
     
   
   
   • Commercial Servicing Oversight
     
     
     
     1. Assist Member Solutions department with servicing delinquent commercial loans, including modifications, foreclosures, repossessions, Real Estate Owned properties, and disposition of assets.
     
     
     2. Oversight of all participation servicing activities including booking and ongoing participation reporting.
     
     
     3. Reviews maturing loans and expiring lines of credit and take necessary action to ensure their timely renewal.
     
     
     4. Manages annual review financial collection and escalation process and ensures annual reviews are completed timely.
     
     
     
     
   
   
   
   


2. Projects & Efficiency Improvements
   
   
   
   • Identify process improvement needs for Commercial Processing and Servicing to streamline, automate, and enhance workflows, tracking, reporting, and controls, with a strong focus on improving member experience and operational efficiency.
   
   
   • Lead departmental and business unit projects.
   
   
   • Lead process improvement efforts in coordination with applicable stakeholders.
   
   
   • Assists with the set-up and implementation of new products and processes utilizing technology.
   
   
   • Collaborate to create and execute strategies around participation servicing, product and system enhancements, and digital commercial servicing functionality.
   
   
   
   


3. Miscellaneous
   
   
   
   • Assist with audits from NCUA, ODFI or any other governmental agency or third-party vendor.
   
   
   • Build/maintain production reports to improve product and/or vendor performance.
   
   
   • Manage third-party vendor relationships and serve as an internal and external point of contact for assigned vendors.
   
   
   • Assist with management of third-party vendor relationships as well as vendor onboarding and due diligence reviews.
   
   
   • Complete annual regulation training as assigned.
   
   
   • Perform all other duties as assigned.
   
   
   
   

This position manages the following jobs: Commercial Loan Processor, Commercial Lending Administrative Support Representative

Internal and External Contacts:  Other Employees, Members, Vendors, Corporate Management 

Confidentiality Requirements: Must keep members' documents, financial information, transactions and other Credit Union business in strictest confidence.

Travel Demands:  Occasionally travel to vendors or business customers.