VP, Lending Service Team

Lead with Purpose, Unlock Your Team’s Passion

At LPL, people leaders hold the key to the employee experience — shaping culture, driving performance, and guiding individuals to new heights. Because when that happens, we all win – clients, LPL, and most importantly our, employees.

If you're ready to lead with intention and discover what’s possible, LPL Financial invites you to apply today.

Job Overview:

The Vice President, Lending Service Team is a critical role within the Banking & Lending organization. Our aspiration at LPL is to be the best firm in Wealth Management. To deliver on this, we are investing in best-in-class banking and lending solutions that will help advisors to serve their clients’ needs more holistically.

In this role, you will have the unique opportunity to support our portfolio of lending solutions and drive adoption within LPL’s industry-leading distribution network. You will help build and lead a team of Lending Specialists who will support LPL’s lending solutions including margin and our new Secured Credit Account (SCA). SCA is a securities-based line of credit which provides Advisors with a new liquidity tool to help their clients take advantage of an opportunity to invest in a new business or real estate or meet an unexpected expense – all without disrupting their investment portfolio strategy. You will be a player-coach; you will directly support Advisors, coach, mentor, and lead your team members, manage day-to-day operations of the Lending Desk, and work closely with internal and external partners to deliver industry-leading experiences for our clients and drive strategic enhancements of our offerings.  

Responsibilities:

People Management (70% of role focus)

• Monitor, coach, set performance goals, and motivate the team. Assist in the ongoing training and development of staff. Track individual and team progress and celebrate when they reach milestones for continuous improvement and performance. Ensure staff adhere to assigned shifts and are effectively executing in a timely manner

• Ensure frontline associates have the necessary resources, support, and expectations to best support our advisors, their office staff and end-clients.

• Efficiently and effectively manage administrative duties: create and maintain key performance indicators for service model, hiring, shift scheduling, timecard approvals, time off requests, etc.

• Conduct daily huddles and regularly cadenced team meetings (in-person and virtually) to ensure consistent communication with the team

• Drive team culture and team engagement to instill continuous improvement, best in class service, advisor advocacy, and live in to LPLs mission and value statements:

Advisor support and advocacy (30% of role focus):

• Serve as SCA, SBLOC and Margin product expert and support Advisor inquiries, including, but not limited to:

• Key product characteristics, benefits, risks, and positioning.

• How to use the systems and technology that support these products over the product life cycle from loan origination, loan draws, loan payments, to account closure; and

• Product policies and procedures.

• Support Advisors in client meetings related to SCA and Margin

• Approve interest rate discount requests for SCA and Margin, within delegated authority

• Manage lending product policy exception request escalations

• Collaborate with Regional Banking and Lending Consultants to help new Advisors transition external client loans to LPL

• Provide superior customer service to large base of financial professionals; measurable by various key performance indicators (SLA’s, Service Quality metrics, efficiency metrics).

• Embrace financial professional and end-client feedback and seek to identify ways to improve the overall experience for banking and LPL Financial

• Handle escalations requiring managerial support. Identify opportunities to proactively mitigate advisor friction, and ensure transparency across leadership team of opportunities and risks

• Provide feedback and suggestions for continuous improvement to the Product Manager, Lending Solutions

• Work with third parties, including SBLOC partners and third-party lenders to facilitate loan origination and takeovers.

• Help to facilitate and track end-to-end processes (e.g., loan takeovers, collateral distributions) by coordinating various internal partners and following up with advisors.

What are we looking for?

We’re looking for strong collaborators and team players who thrive in fast-paced, team-oriented environments. Our ideal candidates pursue greatness, <