Position Description

Transcription

1 Position Description Position Title Reports to Team/Department Credit Risk Manager CFO/CRO and CEO Credit 1. Team Objective The primary purpose of the Credit Team is to administer the Credit Union s lending portfolio and facilitate the provision of lending products and systems to achieve member experience, retention and growth targets. As well, the team manages credit decisions to meet appropriate credit risk standards to ensure the Credit Union meets all compliance requirements. 2. Position Primary Objective(s)/Purpose The Credit Risk Manager will manage all aspects of credit including mortgage lending, consumer lending and small business underwriting, mortgage and small business product guidelines, lending policies, processes and procedures to the appropriate standards. The position is also responsible for compliance with relevant credit laws, regulations and standards and ensuring the Credit Union has appropriate products that our member s needs. The Credit Risk Manager leads and manages the operations and continuous improvement of the Credit team as well as developing and assessing the capability of front line lenders to ensure the Credit Union has the skills to meet the borrowing needs of our members. Page 1 of 6

2 3. Key Accountabilities /Responsibilities Business Category Rank % of time Responsibility (what is done?) Purpose Why is it done? Operational Excellence, Member, Risk Management Operational Excellence Financial, Member Credit Risk Management To fulfil appropriate credit quality Oversee the credit standards and ensure Credit Union assessment process and compliance with relevant laws and provide leadership and credit regulations guidance on acceptable To facilitate positive member credit risk levels. experience Work with the CRO in the To achieve member growth, specifically strategic management of growth of the loan book. credit risk. Ensure a balanced and business aware culture and process operations in respect to business growth and facilitation. Review lending policy and underwriting exception requests; present recommended exceptions with documented factors for Board. Performance Excellence Maintain knowledge of industry standard underwriting policies and procedure across all types of residential mortgage and personal loan products and commercial loans. Product Innovation Perform competitor comparisons and analysis. Recommend product and process changes. Identify opportunities in nice market segments. To ensure the Credit Union is compliant with all regulations and is employing appropriate best practice standards in credit risk management, policies and procedures. To inform strategic thinking regarding and product development. To identify product innovation and improvement opportunities to meet member and market needs. To enhance the product portfolio appropriately for continued and increased growth of the Credit Union. Operational Excellence Policy Management Review and develop the credit risk policy and procedures framework that is appropriate for CACU. To maintain a meaningful and relevant policy framework appropriate for CACU for the effective, compliant management of credit risk. Page 2 of 6

3 Financial & Risk Mgmt Member Capability Capability Loss Risk Mitigation Oversee the collections and hindsight review process to manage/mitigate the risk of financial loss. Third Party Relationships Manage relationships with external third parties that provide key services such as legal, compliance, valuation, and collection. Leadership Lead, manage, coach and develop the Credit Team. Capability Enhancement Assess, develop & monitor the performance of frontline lenders. Facilitate internal and external audits or loan quality and procedures and procedures. To appropriately manage debts to mitigate loss. Maintaining good relationships and ensuring service standards are maintained reduces the risk of loss and improves the service that we are able to provide to our membership. To enhance employee capability and achieve performance excellence. To develop high employee engagement and a great working environment. To ensure the Credit Union has the appropriate skills to meet the borrowing needs of our members To ensure compliance with relevant standards including fulfilment of member experience expectations 4. Risk and Compliance Management 1. Ensure compliance with Credit Union policies, governance processes and standards as well as all regulatory and legal requirements. 2. Fulfil all requirements under the Compliance Training and Policy Schedule. 3. Ensure compliance with Credit Union Work Health and Safety (WHS) instructions, procedures and policies. 4. Implement, monitor and manage Credit Union risk and compliance management processes. 5. Set, review, monitor and manage credit policies, systems and procedures to ensure the Credit Union s compliance with relevant credit laws/regulations. 6. Set, review, monitor and manage credit procedures/delegations to ensure an appropriate balance of risk for reward. 5. Key Communications CFO/CRO CEO Internal Credit Team Senior Management Team Purpose & Frequency of Contact As required, for the strategic management of credit risk. As required, to keep informed of credit activities affecting the Credit Union Daily, as required to lead and manage the team operations, coach to develop employees and achieve process improvements At least monthly, to provide updates on credit and credit risk activities, maintain aware of important factors impacting on credit. Page 3 of 6

4 Board of Directors ARMC Monthly through reporting and as required to inform of strategic and critical credit matters. Bi-monthly, advise on credit risk issues and steps taken to mitigate these. Risk Management As required, to contribute to the risk management decisions. Team Finance & Compliance As required, to provide subject matter expertise on mortgage operations, credit policy and underwriting standards GM Product & Marketing Other Credit Union Staff including frontline lenders External Contact/Organisations Abacus / Cuscal and legal advises APRA / ASIC As required, to identify and recommend product and process changes and enhancements, identify opportunities for niche markets. Regular, to provide guidance and support on credit issues, to assess, develop and monitor performance and capability of lenders. Purpose & Frequency of Contact As necessary to ensure that we are current and compliant with all relevant credit laws/regulations. As necessary in relation to credit and credit licensing matters. Third party suppliers Solicitors, valuers, collection agents, loan origination system suppliers etc. As necessary to ensure services standards are maintained. 6. Challenges What is challenging? Credit is a highly regulated area with increased burdens placed on financial institutions Providing relevant products Cost pressures Why is it a challenge? The financial services industry is highly regulated to ensure the survival of financial institutions but the increased regulation usually requires investment with little in return and therefore becomes a balancing act to ensure compliance is maintained without impacting on the viability of the institution. Financial services is a highly competitive market and we need to provide the products and services that will allow us to compete successfully for this business The competitiveness of financial services sector means margins are tight and we need to make best use of technology, improved procedures and utilising staff appropriately to tackle these cost pressures. Page 4 of 6

5 7. Decision Making, Delegation and Authority Levels a. Decisions made by the position: $1,000,000 Delegated Lending Authority Authorise security release Update procedures b. Decisions made by the position after consultation with the manager or others: Approve loans as a member of Loans Committee c. Decisions referred to manager: Policy change requests Scorecard changes 8. Qualifications, Attributes, Skills and Experience In depth knowledge of mortgage, consumer lending and small business underwriting, mortgage and small business product guidelines, lending processes and procedures. Good knowledge of loan origination systems and scorecard monitoring and performance. Knowledge of compliance and regulatory environment of an approved Australian Credit Licensed institution Must be able to work with multiple stakeholders with little direction. An ability to coach and mentor lenders is essential. Strong organisational skills Excellent written and verbal communication skills Extensive practical experience in general mortgage and credit underwriting using personal delegated lending authority Several years experience in a comparable mortgage operations role at a senior level Cert IV in Credit Management or Tertiary qualification in a relevant discipline (business, management). 9. Potential Career Paths Due to the small size of the business the role itself changes and develops with regard to the needs of the business as well as the drive and preferences of the incumbent. The potential career path includes other risk or operations based senior roles. 10. Other Information 10.1 Community Alliance Credit Union Our Credit Union was formed by people who believe in the spirit of cooperation and mutuality. From our humble beginnings in the Illawarra mines in 1972, we now have a 40 year tradition of serving our members through the good times and the bad. We offer a different kind of banking - one that puts our members first. Personal service, fairer fees and a community focus make us different. Unlike banks, who pay out profits to shareholders, we use our profits to improve the products and services we offer. Page 5 of 6

6 We re committed to providing our members with great service, competitive interest rates for borrowing and saving, and a range of financial services that support their changing needs. With two brand options, we provide our members with the choice: Illawarra Credit Union is for members who want all the services a bank offers, with a personal touch and expert local knowledge. Catalyst Money is a direct banking brand for members who want personalised service, but prefer to manage their finances online or over the phone. Our Purpose: To help our members and their families achieve life-long financial success, for generations to come. Our Vision: To be a valued part of our members lives, in times of prosperity and adversity. Our Mission: To support our members, their families, and the communities in which we work and live, by providing banking with a conscience. Our Values: Loyalty & Integrity We re loyal to our members and their communities. We put our members first and always act in their best interests, we re open and upfront. Family & Commitment We value our members, and treat them as part of our credit union family. We re committed to serving our members and the communities we engage. Personal Service & Excellence We support our members through every stage of their lives. We strive to provide a positive member experience and solutions that make a real difference Team Structure Credit Risk Manager Collections Coordinator Snr Loans Approver Snr Settlements & Discharge Officer Loans Admin Officer Page 6 of 6