Located in Gig Harbor, WA., Mintaka Financial is an exclusive consortium of Originators, Banks and Equipment Vendors offering an extensive suite of financing products for the small business finance industry. Mintaka operates as an integrated subsidiary of Orion First. Orion provides scoring and decisioning products, commercial collection services and strategic advisory within the small business commercial finance marketplace.
The SVP Credit & Funding will play a significant part in the overall success of Mintaka and their Credit & Funding department. They are responsible for: attracting, directing, developing, retaining, and rewarding the credit and funding staff; results and performance of the credit and funding team; implementation and adherences to credit, funding and pricing policies. In this role, they must provide good judgement and approve exceptions to credit, funding and pricing policies as well as oversee credit and funding turnaround times and service level both internally and externally. Establishing workflow procedures utilizing technology to improve customer satisfaction, increase revenue, and improve efficiency to reduce expenses to the company will also be essential in the SVP Credit & Funding role at Mintaka.
Specific Duties and Responsibilities:
Provide prospects with an overview of credit, documentation, funding and pricing policies and procedures Establish and execute a New Channel Partner Onboarding processEnsure that Channel Partners can conduct business with Mintaka through appropriate technology and process integrations Ensure that SAIPH is integrated into the Channel Partners sales and credit process, train, report and monitor adoption Train Channel Partners on the benefits and use of the Client Portal Ensure that Credit and Funding staff is aware and trained regarding all financial products being offered Monitor Channel Partner procedural performance and guide or correct if necessary
Syndication & Funding of Commercial:
Primary contact for Channel Partners to transact commercial transactions Responsible for the placement of all commercial transactions Establish additional non-recourse syndication and funding relationships (servicing retained) with the help of the CFO Supervises execution of deal syndications
Member of the Credit CommitteeEnsures that transactions are underwritten and funded according to Credit/Funding Policies Monitors and reports on Exceptions to Credit/Funding Policy Responsible to report and monitor SAIPH high and low overrides Recommends policy and procedural changes to the Credit Committee Manages Credit Underwriters and Funding staff Ensures that all UCC and vehicle titles are properly filed on a timely basis Ensures that chattel paper and electronic chattel paper are safe and secure Monitor, report and correct outstanding issues related to prepaid and partially funded transactions Ensures that service levels are established, monitored and achieved Communicates changes to Policies to Staff and Affiliates Schedules Credit Committee meetings and oversees the maintenance of Credit and Funding Policy versions, minutes and documentation as prepared by VP Credit
Review status of delinquent accounts, non-performing assets, equipment held for resale and charge offs Reviews Non-Accruals that have performed satisfactorily and recommends bringing them to accrual status Approve collection action plans and approves, extensions, modifications and rewrites Identify and communicate any practices, trends or conditions that could cause harm to the company Keep the Credit Committee informed with developments related to delinquencies, non-performing assets and charge-offs Recommend improvements/changes to collection policies and tactics Monitor and manage servicing and collections performance
Key Performance Indicators:
Portfolio Performance (31+, 91-180, NBD) Origination Volume Syndication (Fee Income) Profitability Turnaround times (Credit & Funding)