We have an excellent job opportunity for an experienced financial services professional. The Advances Manager oversees the lending desk, manages key relationships, and advises members on the use of Bank credit products and issues related to interest rate risk. You will ensure all member credit transactions are executed in compliance with regulations and Bank policies and manage the daily processing of credit product and member stock transactions.
Provides management direction to assigned area. Makes such personnel decisions as hiring, training and development, work assignments, employee vacations, employee breaks, overtime assignment, back-up for absent employees, performance evaluations, promotions, salary increases, and discipline. Recommends terminations.
§ Credit Operations
Advises members on use of Bank credit products, including advances, member derivatives, letters of credit, and lines of credit. Advises members on issues related to interest rate risk and how to use Bank products to mitigate interest rate risk. Negotiates letters of credit and works with legal counsel to draft and execute letter of credit agreements. Oversees payments to LC beneficiaries versus sight drafts properly presented. Ensures advance prepayments include applicable prepayment fees and that fees are calculated according to Bank policies and procedures and are administered consistently across product lines. Monitors differential pricing on advances to maintain consistency in pricing of products and works with the Chief Credit and Marketing Officer and Treasurer to review spread targets. Oversees the daily processing of all credit product transactions.
Advises members on complicated advance restructurings that modify terms of the advances and/or options embedded within the advance. Coordinates restructurings with Treasury and Accounting to ensure the suitability of the restructuring proposal. Manages the delivery of advance restructurings to ensure that the Bank recovers appropriate fees and lost spread. Responsible for communicating the terms of the restructuring with the member, getting appropriate signed disclosures from the member, and developing term sheets related to restructured products to ensure restructured fees are sufficiently recaptured.
Super Regional Members
Responsible for negotiating large advances with super regional member institutions to sell credit products within differential pricing spread targets established by the Treasurer and the capital markets group.
Capital Stock Operations
Manages the annual capital stock verification and reports member stock requirements to the Finance Agency for the purpose of determining voting shares and calculating the number of directors per state. Manages the daily processing of required member stock purchases for all activity-based assets, credit products and mortgage purchases. Oversees processes related to member stock requirements, purchases, repurchases, stock dividend repurchases, mergers, transfers, and redemption requests to make certain that member stock is maintained per the Capital Plan and Board Resolutions.
Responsible for working with system programmers to support enhancements of the IFS Credit Suite and Member Link. Also responsible for representing Member Services in Core Banking System initiatives related to advances and in supporting the newly developed Capital Stock system. Develops databases, models, and reports to enhance department’s ability to manage and administer outstanding member credit products. Develops and coordinates related processes for the department such as Access reporting, spreadsheet modeling, disaster recovery, business resumption, PC hardware and software.
Works with Chief Credit & Marketing Officer, the Business Development Director, and marketing representatives to research and develop new credit products to be utilized by the Bank’s membership. Manages advances specials and coordinates the delivery of specials with the treasury department, marketing representatives and advances operations staff.
Policies & Procedures
Responsible for the development of department policies and procedures related to daily advances activity. Recommends credit agreements and other credit documents in conjunction with the Chief Credit & Marketing Officer and legal counsel. Responsible for compliance with the Board of Director's Enterprise Information Security Policy as amended for your operating area.
Position Requirements :
1. MBA or CFA.
2. Minimum of ten years’ experience working with, or directly in, a financial institution - preferably in a lending function.
3. Must possess excellent oral and written communication skills. Ability to interact with top management of Bank and members in problem solving situations and in delivery of Bank’s products.
4. Must be expert in the use of Access and Excel in order to analyze financial data and present financial information to senior management.
5. Detail-oriented and excellent analytical abilities.
6. Supervisory experience required.
This position requires a high degree of specialized expertise and skill in maintaining established standards of quality and accuracy. Drive, determination and a self-disciplined approach to achieving results are necessary for successful job performance.
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