Vice President, Business Banking

Position Summary:
Responsible for designing, creating, implementing and managing the Credit Union‘s Business Banking platform.

Develops and leads the strategic vision for Business Banking to increase member value and engagement.

Individual and collective success is determined by market penetration, net loan growth, profitability and member experience.

Identifies and recommends new technologies and products to help support small businesses within field of membership.

Analyzes statistical information, environmental conditions and trends to position the Credit Union in the marketplace.

Ensures that Business Banking programs, inclusive of Business Lending, satisfy member needs, drive efficiency and profitability.

Essential Duties and Responsibilities:

• Responsible for recruitment, onboarding, development and retention of AEFCU Business Banking staff.

• Develops and leads Business Banking functions through the ownership of strategic and tactical initiatives.

Provides entrepreneurial leadership through effective planning, organizing, execution and goal attainment for Business Banking, inclusive of Business Lending.

• Proficient in delivery of AEFCU value proposition illustrated by key performance metrics—net loan growth, share growth, non-interest income, net promoter score and market share.

• Collaborate with AEFCU Officers to roll-out and sustain Business Banking initiative resulting in a mature platform.

• Conduct market analysis and business segmentation research to maximize conversion potential in marketplace to drive engagement and profitability.

• Develop and execute on short and long-term strategies to support the overall growth, retention and expansion of Credit Union business products, services and markets.

• Maximize conversion of non-interest income opportunities for small businesses—examples include merchant services, cash management and advisory services.

• Identify best in class vendors and implement digital solutions to support the small business member experience.

• Ensure loan servicing vendors, technology and platform consistently meet member needs.

• Support on-going enterprise strategic initiatives—Cannabis Banking, Underserved, penetration of Hampden and New Haven, as well as Marketing and Data Automation.

• Recommend changes to policies in order to effectively maximize market opportunities and effectively manage risk.

• Identify process improvements through journey mapping to simplify workflow, support member experience and increase operational efficiencies.

• Analyze business loan and deposit rates in the local financial community and present recommendations to the Asset Liability Management Committee for approval.

• Proficient in SBA lending, credit analysis and associated risks, collateral requirements, loan structuring and pricing.

• Collaborate with Lending Quality Assurance to construct and maintain a Lending Quality Control Program.

The Quality Control program is designed to ensure loan performance and compliance with Credit Union Loan Policy, laws and regulations.

• Review reports to identify delinquency and charge-off trends in order to manage business loan losses and modify underwriting strategies.

• Create an environment of constant improvement.

Compare results with predetermined objectives and initiate revised processes to continuously improve productivity, efficiency and profitability.

• Review new legislation, changes in existing regulations and court rulings to determine their impact on Business Banking operations.

• Effectively collaborate with National Credit Union Administration (NCUA), and Department of Banking (DOB) during annual audits and exams.

• Respond to and implement corrective action for recommendations by state and federal examiners, including internal and external auditors.

• Research Business Banking complaints in order to resolve for the member, regulator and Credit Union.

• Maintain a high degree of visibility in our local community.

Also attends credit union conferences, conventions, seminars and other educational meetings to keep current on industry trends and best practices.

Supervisory Responsibilities:
Manages employees in the following areas: Business Development, Underwriting, Processing and Product Management.

Responsible for the overall direction, coordination, and evaluation of these areas.

Establishes goals and provides leadership support to ensure supervisory responsibilities are carried out effectively and efficiently.

Responsibilities include interviewing, hiring and training employees; planning, assigning and directing work; appraising performance; rewarding, coaching and counseling employees; addressing complaints and resolving problems.

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