Vice President, Operations, Commercial Loan Division - Utah, United States - Milestone Bank (Formerly LCA Bank)

Description

Milestone Bank is a full-service financing company specializing in SBA 7(a) and equipment and capital loans. Milestone Bank offers a multitude of financing programs ranging from a standard lease to small business loans across America.

In 2005, LCA founded LCA Bank Corporation in Park City, Utah, to augment its funding capacity. As of October 2023, LCA Bank fully rebranded to Milestone Bank. As a direct lender, we are the bank. This translates into an accelerated application process, a range of financing solutions based on your needs and direct contact to our Customer Care Team.

Based in Troy, Michigan, Milestone bank (formerly LCA Bank) has serviced the needs of its vendors, customers and brokers since its formation in 1988. Milestone Bank has kept pace with the ever-changing economy to develop innovative financing programs, professional marketing support and easy-to-use leasing tools for our clients.

Position Summary

This position will oversee and optimize the operational functions of our bank Commercial Loan division. The ideal candidate will possess strong leadership skills, strategic thinking abilities, and a passion for delivering exceptional customer experiences.

Essential Duties and Responsibilities

The essential functions include, but are not limited to the following:

• Lead and manage the loan operations team(s), overseeing tasks such as recruitment, coaching, training, goal-setting, performance evaluation, and succession planning.
• Manage various aspects of loan operations including documentation, review, funding, payment posting, booking, and tickler system that includes: insurance, escrows, financial statements, etc.
• Responsible for information and data in the core loan system.
• Direct loan operations to achieve set objectives and maintain timely processing in accordance with internal and regulatory standards.
• Implement risk mitigation strategies in loan processing to ensure adherence to business loan agreements and regulatory requirements.
• Work with internal and/or external legal counsel in areas of oversight.
• Ensure optimal utilization of personnel resources to enhance operational efficiency.
• Spearhead initiatives to streamline, reengineer, and enhance the efficiency of bank operations, aligning with the goals of this role.
• Drive the delivery of a world-class customer experience within the operational areas under this role's purview which includes a customer service team.
• Oversee facilities management activities to ensure smooth operations.
• Supervise payment processing operations to maintain accuracy and efficiency.
• Generate comprehensive reports on operational performance within assigned areas of responsibility.
• Address internal and external audit and regulatory examination inquiries and findings, and take corrective action to resolve any identified non-compliant processes or areas of concern.
• Develop and implement business continuity policies, test plans, and scripts to ensure operational resilience within assigned areas of responsibility.
• Ensure controls are implemented and effective to control operational risks within risk tolerances outlined by the Board
• Monitor and enhance customer service standards to drive satisfaction and loyalty.
• Oversee the vendor management program, administration of vendor management software and the Third-party risk management policy.
• Supervision of the complaints management process, encompassing tracking, resolution, and extracting insights from complaints, in collaboration with the Chief Compliance Officer where applicable.
• Keep staff informed and trained on upcoming regulatory changes and process enhancements, including the documentation of procedures, related to areas of responsibility.
• Direct involvement in annual business filings and licenses.
• Stay updated on regulatory requirements pertinent to the role, such as Bankruptcy, BSA/BO, etc., ensuring adherence to applicable procedures and laws.
• Oversight of the New Business Initiatives Committee, monitor products and services of competing financial services companies and propose needed changes to New Business Initiatives Committee.
• Fulfill any additional managerial or project responsibilities as delegated by management.
• Will be a member of the Enterprise Risk Management, Compliance, Asset Liability, Allowance for Credit Losses, and New Business Initiatives committees.

Minimum Qualifications (Knowledge, Skills, and Abilities)

• 10 years of experience in banking operations with a proven track record of leadership and operational excellence.
• Demonstrate ability to quickly analyze situations and risks, determine paths of action, and execute flawlessly
• Outstanding leadership and collaboration skills
• Strong financial analysis skills, with extraordinary attention to detail
• Excellent written and verbal communication skills
• Interpersonal skills to interact positively and effectively with all levels of employees, management, and third parties
• Capability of working effectively under limited supervision
• Demonstrated organizational skills to successfully manage multiple tasks and deadlines
• Ability to identify issues and opportunities and explore solutions
• Excellent developmental, analytical and research ability
• Ability to work and manage team projects
• Ability to create and maintain a positive and cohesive team work environment
• Ability to meet strict timelines and service level agreements
• Strong technical skills required along with an ability to quickly learn new systems and be a subject matter expert in various systems
• Competency being a systems administrator for various systems
• Must be willing to travel when needed.

Education and Experience:

• Bachelor's degree in Business Administration, Finance, or a related field.

This is a hybrid position located in Downtown Salt Lake City, Utah. Current days in office are: Tues, Wed, Thurs and Mon and Fri remote. These days and schedule are subject to change.

Physical Demands and Work Environment

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this position. Reasonable accommodations may be made to enable individuals with disabilities to perform the functions.

While performing the duties of this position, the employee is regularly required to talk or hear. The employee frequently is required to use hands or fingers, handle or feel objects, tools, or controls. The employee is occasionally required to stand; walk; sit; and reach with hands and arms. The employee must occasionally lift and/or move up to 25 pounds. Specific vision abilities required by this position include close vision, distance vision, and the ability to adjust focus. The noise level in the work environment is usually low to moderate. Professional office setting, primarily sedentary position requiring long periods of time working at a computer.

Note

This job description in no way states or implies that these are the only duties to be performed by the employee(s) incumbent in this position. Employees will be required to follow any other job-related instructions and to perform any other job-related duties requested by any person authorized to give instructions or assignments. All duties and responsibilities are essential functions and requirements and are subject to possible modification to reasonably accommodate individuals with disabilities. To perform this job successfully, the incumbents will possess the skills, aptitudes, and abilities to perform each duty proficiently. Some requirements may exclude individuals who pose a direct threat or significant risk to the health or safety of themselves or others. The requirements listed in this document are the minimum levels of knowledge, skills, or abilities. This document does not create an employment contract, implied or otherwise, other than an "at will" relationship.

E-Verify

Milestone participates in the U.S. Department of Homeland Security E-Verify program in all facilities located in the United States and certain U.S. territories. The E-Verify program is an Internet-based employment eligibility verification system operated by the U.S. Citizenship and Immigration Services.

The company is an Equal Opportunity Employer, drug free workplace, and complies with ADA regulations as applicable.