Chief Operating Officer (COO)

At Luminate Bank and Luminate Home Loans, we believe our customer experience is what defines our business. Our mission is to unlock people’s full potential through finances and provide them with clarity through every step of the loan process. We make lending and banking approachable. By bringing transparency and consistency to every part of the financial world, we strive to guide people to decisions that are in their best interest. We have a culture second to none, promote teamwork and growth from within and are continuously striving to take care of both our valued customers and our exemplary employees.

Position Overview: The Chief Operations Officer is an integral part of the Leadership Team ensuring the bank’s customers receive excellent service while also protecting the safety and soundness of the bank. This position will be responsible for ensuring both the Deposit and Loan Operations Teams are working in tandem, fully staffed and trained, and in compliance along with management of day-to-day operations tasks and projects. Additionally, this role is responsible for the overall Compliance, Internal Audit and Quality Control functions of the Bank and its wholly owned subsidiary, Luminate Home Loans. This role interfaces with all levels within the organization and requires strong interpersonal and communication skills. This role also relies on experience and sound-judgment to plan and successfully accomplish departmental and individual goals.

In addition to partnering with the Leadership Team, this position is responsible for recognizing emerging operational efficiency opportunities, emerging risk issues, and developing strategies to capitalize on those situations.

Responsibilities and Duties:

• Strategic Leadership and Management: Develop and implement strategic plans for optimizing operational efficiency, risk management, and regulatory compliance within the areas of responsibility. Manage the necessary training, leadership, and development of all respective employees. Serve on various key committees including Enterprise Compliance, Audit, Leadership and ALCO. Develop and maintain bank policies and procedures.
• Deposit and Loan Operations: Provide leadership and guidance to ensure seamless operations related to Luminate Bank deposit and loan products, overseeing transaction processing, account opening, and servicing functions.
• Compliance Management: Ensure adherence to all relevant regulatory requirements enterprise wide (including Luminate Bank and Luminate Home Loans), including but not limited to TRID, RESPA, HMDA, Fair Lending, and other applicable regulations governing mortgage lending operations.
• Internal Audit and Quality Control: Establish and maintain robust internal audit and quality control processes enterprise wide (including Luminate Bank and Luminate Home Loans) to identify and mitigate operational risks, ensure data integrity, and uphold high-quality standards across all operational functions.
• Process Improvement: Continuously evaluate operational processes and systems to identify opportunities for streamlining workflows, enhancing productivity, and improving the customer experience.
• Vendor Management: Collaborate with vendors and third-party service providers

Qualifications and Skills:

• Minimum of a bachelor’s degree in business, or relevant discipline with a minimum of 10 years of experience is required.
• Previous experience in the banking and mortgage industry is preferred.
• Proven track record of success in driving operational excellence, process improvement, and regulatory compliance within a complex and dynamic banking environment.
• Strong analytical, problem-solving, and strategic thinking skills.
• Strong organizational, project management and leadership skills.
• Strong verbal, written and interpersonal skills.
• Previous experience with Jack Henry Silverlake is a plus.
• Strong Computer experience with MS Office applications.
• Comfortable working in a fast paced, growth-oriented environment.
• Proactive and able to work independently and as a team.
• Versatility, flexibility, and a willingness to work within constantly changing priorities with enthusiasm.

We are an equal opportunity employer and value diversity in our company. We do not discriminate on the basis of race, religion, color, national origin, gender, sexual orientation, age, marital status, veteran status, or disability status.

Job Type: Full-time

Pay: $137,500.00 - $206,310.00 per year

Benefits:

• 401(k)
• 401(k) matching
• Dental insurance
• Employee assistance program
• Flexible spending account
• Health insurance
• Life insurance
• Paid time off
• Parental leave
• Vision insurance

Schedule:

• 8 hour shift
• Monday to Friday

Education:

• Bachelor's (Required)

Experience:

• Strategic Leadership and Management: 10 years (Required)
• Banking or Mortgage industry: 5 years (Preferred)

Ability to Relocate:

• Minneapolis, MN 55405: Relocate before starting work (Required)

Work Location: In person