Reporting to senior vice president of Lending, this role leads Alliant Credit Union’s loan trading activities. Develops and maintains the systems, procedures, and practices necessary for Alliant to safely buy and sell loans in the secondary market. In concert with Alliant leadership, designs and executes a sound loan purchase/participation strategy. Coordinates with the primary lending lines of business to efficiently and effectively conduct buy- and sell-side secondary loan market transactions, including consumer and residential loan pools and commercial loans. Monitors performance of the purchased/participated loan portfolio and supervises the network of counterparties supporting secondary loan market operations. Collaborates extensively with diverse group of stakeholders, including internal functions, auditors, partners and vendors, regulators, competitors, and counterparties. Selects, leads, and develops a team of experienced lenders and portfolio managers.
Transaction negotiation and execution (including economic, legal, and operational analysis, and internal presentations and approvals).
•Determines the economic value of loan assets and pools of loan assets
•Negotiates prices of purchased/sold loan assets
•Compares loan assets to alternative assets
•Studies and evaluates the strategies, policies, and practices of counterparties
•Designs terms and conditions of loan purchase and sale transactions for the mutual benefit of Alliant and its counterparties
•Engages legal specialists and generalists to design and negotiate agreements needed to conduct transactions and manage ongoing partnerships
•Prepares and presents ‘credit memo’-like packages to obtain Alliant committee approval of transactions
•Facilitates operational closing and funding of transactions (document signing, wire transfers, legal custody, etc.)
Secondary loan market business development and counterparty relations.
•Identifies and screens desirable counterparties in the loan purchase and participation market
•Communicates regularly with partners via phone, e-mail, and in person regarding strategic matters, program designs, and new transactions
•Develops strong pipeline of potential loan asset transactions on buy or sell side as required by Alliant strategy
•Leverages strong personal and professional rapport to improve speed, flexibility, and performance of key counterparty relationships
•Identifies possible threats to strong counterparty relations and proactively mitigates those threats
Personnel administration and departmental management tasks.
•Screen, assess, and select talent for Loan Trading Desk roles as necessary
•Assign duties, set goals, monitor performance, and hold personnel accountable
•Coordinate the use of staff in other Alliant groups and divisions as necessary to conduct Loan Trading Desk activities
Planning, analysis, and program design.
•In collaboration with executive leadership, develop Loan Trading Desk strategies and written business plans
•Contribute to the analysis of purchased/participated loan asset performance in the context of Alliant’s balance sheet and to global decision making related to that performance
•Author policies, practices, and procedures
•Determine operational approaches, select technical systems, and set quality standards
•Coach, counsel, train and develop employees in their assigned tasks.
•Identify and initiate opportunities to strengthen engagement (Q12) among our team as well as build solid relationships with our internal customers to provide better service and communications.
•Applies great management practices in leading an engaged workforce as defined by Q12 Gallup process to effectively deliver the value of this function.
Undergraduate degree in finance, economics, business, or other related discipline required. MS, MBA, FRM, RMA-CRC or similar graduate-level credentials preferred. Minimum of five years experience in lending required, with at least two years experience in middle-market commercial lending. Two or more years of consumer credit and/or residential mortgage experience preferred. Formal training in commercial loan underwriting and administration required. Prior experience interacting with state and federal regulators required. Prior experience representing commercial credit operations to institutional governance bodies strongly preferred. Prior experience managing integrated financial services supply chains strongly preferred. Must be politically savvy and able to demonstrate strong communication, leadership, strategic thinking, credit analysis, and business development capabilities. Must have strong line-of-business management skills including planning, budgeting, goal setting, and personnel administration. Should be proficient with the full range of software and technical tools used in contemporary lending operations. Should be familiar with current and emerging best practices in the lending industry. Should be aware of the general competitive, economic, technical, and regulatory environment of federally insured depository institutions.