Senior Financial Services Officer (Lending)

PRIMARY FUNCTION

Under broad managerial direction, the Senior Financial Services Officer has specific expertise in either the lending or investment stream, maximizes business opportunities by promoting a full range of lending vehicles (consumer loans, mortgages, credit card products, lines of credit) for personal and small business lending; builds business relationships and a referral network by profiling members; identifies other member needs making qualified referrals to internal specialists in commercial lending; investment specialists and our team of wealth management specialists. This position is a resource for opening new member accounts. The Financial Services Officer actively participates in all branch campaigns and promotions, and champions the credit union’s relationship selling culture by performing all aspects of this mandate. This position maintains the high profile and image of Prospera Credit Union as the financial institution of choice in the branch trading area by establishing member client and non-member client relationships and business contacts, and by assisting other branch staff to resolve non-routine member questions and inquiries.

Credit approval limits as set in writing by the Vice President, Credit Services.

SPECIFIC ACCOUNTABILITIES

1. Performs a variety of duties relating to the promotion and sales of credit union products and services including responding to member inquiries and providing information on the full range of products, services and interest rates; analyzes needs and assists members to utilize the products or services which best meet those needs by outlining features, benefits and alternatives.

2. Identifies member/client needs and promotes/cross-sells lending, investment products and services through direct member contact, sales and service calls and written correspondence. Looks for opportunities to consolidate business from other financial institutions and strengthen banking relationship with Prospera.

3. Identifies potential member/client through incoming credit checks, member/client inquiries and staff referrals. Takes full responsibility for all member/client’s inquiries, concerns, directed to him/her by resolving or referring those matters within his/her discretion, to the member/ client’s satisfaction.

4. Works as part of the Financial Services Team in providing seamless banking, investment and insurance services to clients by making referrals to other internal experts where required and when outside the scope of own responsibilities.

5. Meet growth targets by following up with members to ensure satisfaction and expectations are met or exceeded; and increasing product and service penetration of existing members.

6. Acts as a resource for opening new accounts, which may include business accounts, and effectively matches appropriate services to member needs.

7. Collects and compiles information relating to member applications including personal financial statements. Conducts telephone and other credit checks.

8. Interprets the branch operating procedures, lending policies, investment policies and/or mutual fund compliance and security requirements to ensure guidelines are adhered to.

9. Completes loan applications and documentation for new loans, renewals, loan payment suspensions, alterations and substitutions of security as prescribed by established policies and procedures. Makes recommendations concerning loan applications based on established lending principles.

10. Grants mortgages, consumer loans, credit card products, and other loans such as lines of credit and overdrafts within approved lending limits and makes recommendations for higher approval or decline of applications.

11. Develops and maintain an awareness of financial and investment markets, competitor’s products, services, and marketing initiatives, in key target areas.

12. Ensures application of appropriate deposit rates, loan rates, fees, service charges and overdue interest.

13. Processes appropriate documents associated with the sale of investment and lending products and/or mutual funds, and completes forms associated with providing insurance, card products and other services, as required. Ensures accurate documentation instructions are outlined for Branch Support staff.

14. Reviews loan, file documentation, secures appropriate signatures, and ensures loans are set up correctly in the banking systems and advanced to member‘s account on completion of signing. Reviews investment file documentation, secures appropriate signatures and ensures deposits are set up correctly in the banking system on completion of signing

15. Contributes ideas to improve team performance and improve service delivery and profitability.

16. Establishes a high personal standard of performance and service by actively participating in other duties assigned, including educational seminars and training programs.

17. Represents Prospera Credit Union in the community by participating in local business activities and community functions that will enhance the image of the organization in the trading area and promote the philosophy and principles of credit unions.

18. Enthusiastically takes part in campaigns, specific marketing initiatives and/or promotions for new products and services that promote sales and growth in key target areas.

19. Portrays a good sense of teamwork and develops effective relationships with other staff by displaying a willingness to assist others and contributing to team goals by offering ideas and suggestions in a positive way.

20. Abides by, and will review annually, the guidelines set out in our Employee Confidentiality and Privacy Policy, General Rules of Conduct and Internet Use policies.

21. Provides comprehensive, individualized financial advice and information to members/clients on lending and/or investment products offered through the credit union.

22. Investments: Reviews mutual fund file documentation secures appropriate signatures and ensures information is set up correctly on the mutual fund platform.

SKILLS, KNOWLEDGE AND ABILITY

• Demonstrates an understanding of the current economic environment, uses approved lending principles and practices to complete lending transactions for members.
• Knowledge of the lines of business and range of products and services offered internally and/or externally by the credit union and its competitors.
• Knowledge of relevant policies and legal and regulatory principles and applications in the conduct of business activities.
• Ability to read, analyze and comprehend financial statements.
• Demonstrates knowledge of financial principles in the conduct of business activities.
• Conveys messages clearly and concisely to intended audiences to inform, negotiate, request action and/or persuade the audience; both verbally and in writing.
• Applies relationship building skills and knowledge in building a portfolio.
• Complete knowledge of banking system and uses appropriate software and intranet/internet applications and systems to manage work and increase productivity and efficiency.
• Takes a disciplined and structured approach to coordinate and manage information, to plan workload and to position activities, events and strategic initiatives for optimum results.
• Positions and promotes the credit union as a primary financial institution and partner in community development; positioning and promoting the credit union as a partner of choice.
• Under general supervision, use sound judgment to make timely and effective decisions that consider both short and long term risks, impacts and outcomes.
• In depth knowledge of all loan products (conventional, high ratio mortgages, inter-alia, assumptions, bridge financing, card products, construction/draw mortgages, equity line of credits, line of credits, overdrafts, personal loans, PPSA, certificate of title, and leveraged loans) terms, conditions, benefits, approval process.
• Proficient and thorough knowledge of investment products (chequing, investment accounts, tax free savings accounts, terms, registered retirement savings plans and online brokerage services) terms, conditions, benefits.
• Proficient knowledge of available investment, wealth management, commercial and insurance products and services to identify both referral and new business opportunities.

SELECTION CRITERIA

• Secondary School diploma with at least one year post secondary education.
• Minimum two years’ sales experience in Financial Sales, including lending and having approved credit limits.
• Completion of the FSO Certification Program.
• Completion of Financial Planning Principles - 101 (CIFP).
• Or an equivalent combination of education and experience.
• A commitment to professional development; acquire knowledge and experience in advanced lending.
• Commitment to complete Lending Certification Program within 2 years.
• For continued development encouraged to take one course per year of the Certified Financial Planning Program (CIFP).

Prospera Credit Union - 13 months ago