We are currently seeking a VP Credit to join our team. Khalsa Credit Union (KCU) is a member-owned financial institution serving the Sikh community across southern British Columbia. With six branches, over 20,000 members and over $650 million in assets, KCU is the largest Sikh member owned financial institution in the world. We are a strong and growing organization with more than 35 years\xe2\x80\x99 experience serving our members in Surrey, Abbotsford, Vancouver, Victoria and beyond. Dedicated to growing assets, earnings, and membership responsibly, while staying true to our values and cultural heritage. The Vice-President, Credit reports directly to the Chief Executive Officer of the Credit Union. This position participates in the development of corporate strategies and provides strategic leadership and advice on all credit (retail and commercial) related matters to the leadership team and branch managers.
Corporate Responsibilities:
Is a member of the senior leadership team; participates in the development of corporate
strategies and policies; identifies short and long-term objectives and contributes to the design and development of policies and programs relating to the Credit Division.
Has responsibility for managing the credit risk (commercial and retail)
Ensures all lending and credit activities comply with sound business practices, legislation,
regulations, policies, and procedures; identifies risk issues and ensures processes are in place to effectively identify and manage risk and delinquent accounts.
VP Credit will be responsible for direction and supervision of a team of adjudicators and
commercial accounts managers
Oversees the lending and credit activities of Branch Managers; provides approvals within assigned
lending limits and provides coaching to develop internal lending expertise
Initiates action to improve growth and development of the credit union\'s loan portfolio by
pursuing new business and establishing and maintaining liaison with business and community contacts.
Responsible to review and updated Investment lending policy (ILP) and operate within ILP and
procedures to ensure underwriting is within guidelines, identifies and recommends mitigation strategies for risks, ensures all transactions are compliant with Khalsa Credit Unions credit adjudication policy and guidelines. Divisional Responsibilities
Divisional Performance: Direct and control the Credit Division, including reviewing the
effectiveness of programs, policies and approaches, short and long-term planning activities, service excellence, divisional goals and objectives, etc. Respond to audit findings to ensure compliance.
Strategic Planning: Develop, implement, and evaluate strategic plans, goals, and objectives for
the Credit Division, consistent with the Credit Union\xe2\x80\x99s mission and strategic plan, including taking the lead role in the analysis of current operational issues, systems and procedures and future requirements of the organization as a whole. Initiate the development of specific goals and objectives, setting priorities for planning, and implementing strategies. Develop opportunities for staff to have input into the area\xe2\x80\x99s overall strategic plan, goals and objectives.
Budget: Play lead role in the divisional budget process, directing the preparation of both
operating and capital plans, as well as long range plans, to ensure the needs of the Credit Union are met in the areas of commercial and residential credit. Act as a consultant to subordinate managers on budget issues. Ensure adherence to budget by managing ongoing review of the capital and operating budgets within the Credit Division
Risk: You have the overall ownership of all the risk for your department including the following
Risk of loss from default on retail loans and mortgages (portion of portfolio)
Risk from inability to access necessary levels of funding for loan growth and for branch
expansion
Policy: Oversee policy development, including identifying areas for policy development and/or
revision, drafting policy based on research, evaluation and system requirements, and obtaining feedback on drafted policies.
Performance Management: Monitor performance, provide ongoing feedback and complete
reviews of team of adjudicators and commercial accounts manager that reports to this role to encourage continuous improvement and increase employee engagement. Implement tracking systems to provide performance feedback and identify development needs of Branch Managers in regard to residential and commercial lending.
Board: Manage Board relations including occasional attendance at Board meetings to review the
position of the organization as it relates to areas of specific responsibility. Act as a management resource to the Board in area of expertise. You bring with you ten to fifteen years\xe2\x80\x99 experience, with a minimum of five to ten years in a senior credit /executive level position with responsibilities for the development, implementation, and evaluation of operational and strategic plans. As a prerequisite, the successful candidate must believe in the core values of Khalsa Credit Union and be driven by the mission. Khalsa Credit Union is headquartered in Surrey BC, home to one of the largest Sikh communities outside of India ideally situated in the heart of British Columbia lower mainland with easy access to everything this beautiful province has to offer. British Columbia\xe2\x80\x99s second largest city and a short drive from both the Vancouver International Airport and downtown Vancouver, Surrey is a rapidly growing city with a current population of roughly 500,000 residents. To find out more about VP Credit position email our Senior Manager HR & Member Experience \xe2\x80\x93 and include the subject line \xe2\x80\x9cKhalsa Credit Union VP Credit opportunity\xe2\x80\x9d: To apply please submit a resume with a cover letter to Inderjeet Singh isingh@khalsacredit.com 604-507-6400 Ext 2345 We look forward to hearing from you and thank all applicants; however, only those selected for an interview will be contacted.
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