Position Summary:
The Director of Loan Operations will oversee and manage the end-to-end processes and operations of the Loan Operations Department to include loan servicing, documentation, compliance, and reporting within a growing, approximately $3 billion banking institution. The individual in this role will be responsible for the strategic management, optimization, and improvement of loan operations, ensuring efficiency, regulatory compliance, and a high level of customer service across the bank’s loan portfolio. This position is critical to the bank’s ability to scale loan operations, reduce risk, and enhance operational efficiency.
Key Responsibilities:
- Leadership & Team Management:
- Lead and mentor a high-performing team of loan operations professionals.
- Foster a culture of collaboration, accountability, and continuous improvement.
- Manage staff performance, providing guidance, coaching, and development opportunities.
- Loan Operations Strategy & Execution:
- Develop, implement, and monitor strategies to streamline loan processes, including loan documentation, disbursement, servicing, and collections.
- Oversee all aspects of loan operations, including consumer, commercial, and mortgage loans.
- Ensure accurate and timely processing of loan requests, ensuring compliance with regulatory requirements and bank policies.
- Risk Management & Compliance:
- Ensure all loan operations are in full compliance with federal, state, and industry regulations, including RESPA, TILA, and other relevant laws.
- Collaborate with the Compliance and Risk Management teams to monitor emerging regulatory changes and adapt processes accordingly.
- Identify and mitigate operational risks, implementing corrective actions as needed.
- Process Improvement & Automation:
- Lead process optimization initiatives to increase efficiency and reduce operational costs.
- Champion the use of technology and automation to enhance loan operations and improve the customer experience.
- Identify opportunities for system upgrades and new tools to support loan origination and servicing.
- Reporting & Performance Metrics:
- Develop and maintain key performance indicators (KPIs) and metrics for loan operations performance, providing regular reports to senior management.
- Ensure accurate and timely loan-related reporting for regulatory, financial, and internal purposes.
- Monitor loan performance, ensuring early detection of potential issues related to delinquency, fraud, or operational inefficiencies.
- Cross-Department Collaboration:
- Work closely with other departments, including lending, risk, compliance, and IT, to ensure alignment of loan operations with overall business goals.
- Support senior leadership in the development of new loan products or services by providing operational insight.