Job description

At MassMutual, we?re passionate about helping millions of people find financial freedom and this passion has driven our approach to developing highly interactive digital experiences for our customers.

To help us achieve our mission, we are hiring a Head of Lending to join our team.

What great looks like in this role

MassMutual is looking for someone who is highly energetic and creative leader, with an entrepreneurial mindset and a strategic thinker who can join our organization and take our lending strategy from concept to inception. This individual should have deep expertise in the lending space with the ability to promote and cross-sell MassMutual?s Wealth Management products and services to meet our organizational objectives and customer needs. This person will have exceptional leadership skills and the ability to influence teams and key decision makers while driving change.

Objectives of this role

In this role you will,

• Lead the implementation of the credit decisioning function and all Lending transactions within MassMutual Wealth Management (MMFA WM), ensuring effective management of our members, dealers, vendor and third-party relationships to meet the lending needs of MMFA WM clients as well as manage portfolio credit risk.

• Ensure our third-party software systems are setup to deliver timely credit decisions and integrate with our other MassMutual systems aligning the appropriate business rules and score models to provide the best solution to meet the consumer lending goals.
• Provide recommendations to our senior leadership team with regard to product recommendations. Present product profitability model reviews and share outcomes.
• Partner with product management in the development of our products, providing expertise on underwriting standards. Serve as a liaison to other functional areas and internal business partners.
• Ensure our lending policy and procedures for consumer lending are up to date and practiced appropriately by all parties.
• Develop/Deliver training for our advisors for lending solutions.
• Manage the efficient and effective operation of our Lending function and establish the operating and compliance policies and procedures for the underwriting function. Update as necessary due to changing regulations.
• Ensure prompt turnaround time on credit decisions (underwriting).
• Ensure compliance of all rules and regulations are adhered to prevent penalty loss for non- compliance or potential legal action. Ensure our operations are within established guidelines. Implement the appropriate controls and reporting measures to Identify opportunities for improved productivity, profitability, and expense control.

Daily and monthly responsibilities

• Provide Credit decisioning (underwriting) for non-proprietary Lines of Credit and manage credit policy.
• Act as a liaison between our lending and product teams working with our partners to create and manage seamless credit decisioning and portfolio management processes.
• Keep abreast of key competitive product trends among public and mutual competitors. Periodically update/refresh/synthesize perspectives across product categories.
• Be the MMFA point of contact on distribution economics (including field compensation), and technological needs/capabilities to deliver across all product categories.
• Source and distribute non-proprietary products that MMFA wishes to distribute
• Develop/Deliver training for our agencies and advisors on lending solutions
• Articulate MMFA value proposition for 3rd-party manufacturers.
• Structure and deliver momentum for early negotiations (e.g., economics), with 3rdparty manufacturers, while acting as a ?quarter-back? for MassMutual stakeholders.
• Build out and ensure a seamless handover, execution and ongoing ownership to our ?Advice &Solutions? team within MMFA.

Skills and qualifications

• Ability to influence and collaborate with or lead across the organization and at all levels of the organization to drive results.
• Strong analytical and problem-solving skills using data to identify trends and issues and potential ways to solve issues.
• Experience with assigned product, including understanding of compliance rules and regulations for product and industry and exceptional credit decisioning (underwriting) abilities.
• Ability to identify, measure, monitor, and control credit risk of assigned product and portfolio.
• Superior verbal and written communication skills
• Strength in preparing and effectively facilitating presentations.
• Ability to motivate staff to promote and cross-sell WM products and services to meet organizational objectives and member needs
• Experience leading and providing support, motivation and professional development to the staff.
• Must be eligible to work in the US without sponsorship

Preferred qualifications

• BA/BA Business Administration or related field or equivalent experience.
• Minimum 7 years consumer lending experience/ Securities-based lending / Asset-based lending within a financial institution.
• Minimum 3 years management experience. Strong background in dealer indirect lending required.
• Series 7 & 24 required (or obtain within 12 months)