Mortgage Operations Leader (1st VP/SVP) at Old Second National Bank

<div class="content-intro"><p><strong>Who We Are</strong></p> <p>At Old Second, you're first!&nbsp; &nbsp;For more than 150 years, Old Second has consistently put businesses and individuals throughout the Chicago area first, and we're only getting started.</p> <p>With great employees we've grown from a single location in the back of a general store to 50 locations and over $6 billion dollars in assets.&nbsp; At Old Second we embrace values that foster an environment of community and growth.&nbsp; Recently, we've been voted a Forbes Best-In-State Bank for Illinois by our customers.&nbsp; Be a part of something big as we continue our growth story together!</p></div><p><strong>Position Overview</strong></p> <p>Reporting to the Director of Residential Lending, the <strong>Mortgage Operations Leader</strong> is responsible for leading all aspects of the Mortgage Operations function including processing, underwriting, closing and funding to ensure all loan obligations are met with high efficiency and quality of service.&nbsp; The incumbent will have a deep understanding of mortgage regulations to apply to the operations setting and will cultivate an environment open to process improvements, compliance with regulatory standards, enhanced reporting, and growth.</p> <p>This role interacts regularly with mortgage sales and operations, internal business partners and support teams, external partners and vendors.</p> <p><strong>Essential Job Functions</strong></p> <p><strong>Strategy &amp; Planning</strong></p> <ul> <li>Assist Director or Residential Lending with long and short-term planning for the Residential Lending function</li> <li>Participate in the development of lending policies and procedures that align with organizational goals</li> <li>Establish and oversee the execution of operational goals by engaging with operations team, mortgage sales and other departments</li> <li>Assist with the oversight of department financial management, planning, systems and controls.</li> <li>Develop and maintain regular reporting of department metrics and results; participate in the preparation of reports for senior management.</li> <li>Partner with Marketing team in the implementation of marketing campaigns across various channels</li> </ul> <p><strong>Risk Management &amp; Operational Oversight</strong></p> <ul> <li>Monitor economic indicators and evaluate potential impacts on the loan portfolios to maintain a delicate balance between stimulating loan growth, maximizing profitability, and mitigating risks.</li> <li>Lead the lending operations team in evaluating loan applications, assessing credit risk, and ensuring sound underwriting practices</li> <li>Monitor workflows, productivity and department metrics to increase service levels, and quality while effectively managing risk. Track output against SLAs and KPIs.</li> <li>Ensure lending activities are conducted accordance with established policy guidelines and standards, are properly documented, and meet regulatory requirements.</li> <li>Lead, evaluate, implement, monitor, maintain and improve various loan origination systems, vendor changes or product launches.</li> <li>Ensure loan lending criteria is met for specific loan types, products, rates and fee structures.</li> <li>Anticipates issues facing the department and/or organization and develop innovative solutions to streamline work processes and support operational objectives</li> <li>Oversee and review weekly pipeline report and allocate resources accordingly.</li> <li>Manage cycle times to ensure quality, accuracy and efficiency of loan fulfillment.</li> <li>Serve as resource to team and business partners to manage complex problems and escalations.</li> <li>Ensure policies, procedures, internal controls and processes are kept up to date and meet evolving regulatory, legal requirements and industry best practices.</li> <li>Remain current on all investor, agency, FHA, VA, and loan guideline changes along with overlays.</li> </ul> <p><strong>People Management</strong></p> <ul> <li>Direct supervisory responsibilities and carries out responsibilities in accordance with the company’s policies and applicable laws. Responsibilities include planning, assigning and directing employee’s work; evaluating performance; rewarding and disciplining employees; addressing complaints, performance coaching, and resolving issues; interviewing, hiring and training.</li> <li>Lead and retain a best-in-class loan operations team, providing direction, development and mentorship to team members.</li> <li>Create and foster a positive and collaborative team environment amongst operations and sales teams.</li> <li>Utilize Employee Engagement Survey results to participate in strategy to enhance and improve employee experience.</li> </ul> <p><strong>Minimum Requirements&nbsp;</strong></p> <p>Bachelor’s degree in Business, Accounting, Finance, Economics, or related field of study and seven or more years &nbsp;mortgage operations and/or mortgage compliance experience; or equivalent combination of education and experience.&nbsp; Must have experience leading teams and managing people.</p> <p><strong>Preferred, but not required</strong></p> <ul> <li>Direct experience utilizing Encompass and Optimal Blue strongly preferred.</li> </ul> <p><strong>Competencies</strong></p> <ul> <li>Strong leadership skills including ability to use independent judgment</li> <li>Exceptional lending knowledge (regulations, products, risk)</li> <li>Excellent organizational ability</li> <li>Ability to interpret and communicate regulations, policies, and protocol</li> <li>Strong customer service skills</li> </ul> <p><strong>Location Details&nbsp;</strong></p> <p>This position is considered a hybrid role.&nbsp; With management approval, an incumbent may work a combination of remote and onsite work to perform the regular responsibilities of the role.&nbsp; Actual schedule requirements may vary based upon business needs.</p> <hr> <p><strong>Compensation &amp; Benefits</strong></p> <p><strong>Base pay - 1st VP level: </strong>$110,000 - $160,000&nbsp;&nbsp;</p> <p><strong>Base Pay - SVP Level:&nbsp; </strong>$127,000 - $180,000</p> <p>Old Second is committed to fair and equitable pay practices.&nbsp; Pay is dependent upon the pay range and the incumbent’s knowledge, skills and experience.&nbsp;</p> <p><strong>Officer Bonus Eligible:</strong>&nbsp; Eligible to participate in the Annual Officer Incentive plan with a target bonus up to 15% - 20% of base salary based various performance components.</p> <p><strong>Benefits:&nbsp; </strong><a href="https://www.oldsecond.com/resources-services/how-we-support-you/">How We Support You - Old Second</a></p><div class="content-conclusion"><p>Thanks for considering Old Second!&nbsp;&nbsp;</p></div>