Chief Credit Officer
|Category:||Financial : Consumer/Commercial Banking|
Position Senior Vice President, Chief Credit Officer
Company Confidential - $3B + in assets
Location Pacific Northwest
Reporting Relationship President & Chief Executive Officer
Oversees the quality and content of the consumer loan portfolio. Responsible for the credit decisions of the credit union, which includes all consumer unsecured, automobile, home equity, and 1st position real estate loans. Provides strategic direction and oversight of the underwriting and credit functions of the credit union to assure effective delivery of products and services. Assists in the design of new loan products and ensures proper implementation. Responsible for compliance with rules, regulations, policies and procedures in all areas of responsibility.
• Provides strategic direction and oversight to the Lending Operations, Mortgage Underwriting, Alternate Delivery, and Lending Resources/Credit Examination Managers in implementing strategies to achieve assigned goals.
• Responsible for business partner relationships with online lending partners and CUDL.
• Responsible for credit reporting partner relationships and reporting processes.
• Responsible for the asset quality of the loan portfolio, including authorizations of credit authority, underwriting standards, and effective procedures to monitor consumer loans.
• Develops and recommends credit union lending policies and procedures.
• Ensures that loan policies, procedures, services and products meet federal, state, and local regulatory requirements.
• Analyzes trends in lending and collections and recommends corrective action if needed. Actively monitors local and national economic conditions to anticipate changes that may impact credit, and proactively develops, recommends and implements prudent policy and procedure updates to achieve successful portfolio management.
• Reviews and approves loans within the established lending authority of the credit union loan approval guidelines. Underwrites and decisions problem or complex loans, and acts on requests for policy exceptions.
• Hires qualified personnel within areas of responsibility, and coaches, trains, develops, directs and evaluates direct report staff, including termination when necessary, to ensure effective achievement of credit union objectives.
• Maintains effective communication between Lending Operations, Mortgage Underwriting, Alternate Delivery, and Lending Resources/Credit Examination and other departments and Senior Management. Provides information, direction and training to lenders throughout the organization.
• Oversees the preparation of the operating budgets for areas of responsibility and monitors performance against it.
• Coordinates and collaborates with other departments of the credit union in establishing and carrying out responsibilities.
• Demonstrates strong regulatory knowledge applicable to lending and works with auditors and regulators as needed to support strong audit and examination results.
• Actively participates as a member of Senior Management. Understands and adheres to the Senior Management team expectations. Works toward achieving organizational and team objectives. Models and contributes positively to organizational culture.
KNOWLEDGE, SKILLS AND ABILITIES:
• Thorough knowledge of all state and federal rules and regulations pertaining to lending and collections.
• Thorough understanding of credit union rules, regulations, and trends that influence lending.
• Well-developed strategic and tactical planning skills.
• Good oral and written communication skills to effectively communicate with staff, members, and vendors.
• Strong problem solving and analytical skills.
• Strong leadership and management skills. Able to lead and manage a highly decentralized lending team and credit decision making process.
• Ability to direct the research, planning, design, and implementation of new products and programs.
• Ability to interpret, organize and analyze financial information and statistics.
• Minimum five years management experience ideally gained through positions within the financial industry, preferably within a sizable and growing credit union ($1B+).
• Three to five year’s experience as a lender with proven knowledge of basic lending fundamentals.
• Experience managing various types of loans, including consumer, student loans, home equity, and real estate.
• General understanding of related loan services and how they connect with lending (title processing, credit insurance products, and lenders insurance).
• Prior experience in CU Direct Lending, business credit, on-line lending via a fulfillment channel and card operations are all a plus (but not required).
Bachelor’s degree in business administration, accounting, economics, or equivalent work experience.
Compensation will be competitive, consisting of a base salary and target performance bonus.
KORN FERRY CONTACTS
Co-Leader, Credit Union Practice
Sector Leader, NA Banking & Credit Union
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