What are the responsibilities and job description for the Vice President of Lending position at PorchPass?
The VP of Lending is responsible for overseeing the lending operations of the organization, including the development, implementation, and management of lending strategies and policies. This role involves leading the lending team, ensuring the effective administration of loans, managing risk, ensuring compliance with regulations, and achieving financial goals. The VP of Lending will play a key role in expanding the company’s lending portfolio, fostering relationships with borrowers, stakeholders, and partners, and ensuring high levels of customer satisfaction and operational efficiency.
Key Responsibilities :
Leadership & Team Management :
Lead, mentor, and manage a team of loan officers, analysts, and support staff.
Develop and execute strategies for team performance, including training, development, and career progression.
Foster a high-performance culture and ensure alignment with organizational goals and values.
Lending Strategy & Portfolio Management :
Develop and execute lending strategies that align with the company’s overall objectives.
Oversee the origination, underwriting, and servicing of loans across various loan products (e.g., mortgage, business loans, personal loans, etc.).
Manage and optimize the company’s lending portfolio to ensure maximum profitability, growth, and risk mitigation.
Conduct regular portfolio reviews and implement strategies to reduce loan delinquency, defaults, and risks.
Risk Management & Compliance :
Ensure that all lending activities adhere to federal, state, and local regulations, as well as internal policies and guidelines.
Oversee the development of credit risk models and risk assessment tools to evaluate loan applications and maintain portfolio quality.
Collaborate with compliance teams to ensure timely audits, assessments, and the resolution of any issues.
Stay informed of industry trends, regulatory changes, and best practices in lending.
Business Development & Relationship Management :
Build and maintain relationships with key stakeholders, including borrowers, investors, and business partners.
Identify opportunities to expand the lending portfolio, including new markets, products, and customer segments.
Drive business development efforts by evaluating market conditions, competitive landscape, and customer needs.
Act as a liaison between the lending department and other areas of the business
Financial & Operational Performance :
Monitor and manage the financial performance of the lending division, including profitability, loan volume, and cost control.
Establish and track key performance indicators (KPIs) to measure success and ensure alignment with business objectives.
Prepare and present regular reports on lending operations to senior leadership and the board of directors.
Technology & Innovation :
Leverage technology to improve lending processes, from loan origination to servicing and collections.
Evaluate and implement digital solutions and automation tools to enhance operational efficiency and customer experience.
Qualifications :
Education & Experience : Bachelor’s degree in Business, Finance, Economics, or a related field (required). Master’s degree or professional certification (e.g., MBA, CFA) preferred.
Minimum of 7 years of experience in lending or financial services, with at least 5 years in a leadership role.
Strong background in lending operations, underwriting, risk management, and compliance, Chattel Loans.
Skills & Competencies :
Proven track record of successfully managing and growing a lending portfolio.
Strong leadership, communication, and interpersonal skills.
Deep knowledge of lending regulations, risk management principles, and industry best practices.
Strategic thinker with the ability to execute effectively and make data-driven decisions.
Proficiency in loan management software and tools, as well as Microsoft Office Suite (Excel, PowerPoint, Word).
Personal Attributes :
Results-oriented with a strong sense of ownership and accountability.
Excellent problem-solving skills, with a focus on innovation and continuous improvement.
Ability to build and nurture relationships with clients, staff, and stakeholders.
Highly adaptable in a dynamic, fast-paced environment.
Working Conditions :
Travel may be required for business development, client meetings, and conferences.
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