Credit Risk Review Director

Job-:
Credit

Location:

Wakefield, MA, United States

Schedule:

Full time Posted:
Corporate

Title:

SVPHiring Range: $166,341- $255,043

The posted salary range reflects Eastern’s expected hiring range. Actual pay may vary based on experience, skills, and market factors; additional compensation may apply. Eastern offers a robust benefits and retirement package. Please see the description of benefits included with this job posting for additional information.

The job’s mission is to provide the Bank with an independent mechanism to assist in early detection of loan problems, assurance of accurate loan ratings, an independent assessment of CECL data, monitor compliance with policies, procedures and regulations, and assurance of proper portfolio administration.

Risk Plan Responsible for the planning, execution, and reporting of credit risk across Eastern Bank’s loan portfolios, and independently monitors and assesses the credit risk ensuring compliance with policies, procedures, regulations, and best practices, and advising on risk mitigation. Oversee the execution of the Risk Plan including Continuous, Targeted, and Horizontal reviews of all types of commercial loans and commitments including Syndications, Participations, Commercial & Industrial, Commercial Real Estate Entity Level Finance, Franchise Lending, Renewable Energy, Security Alarm, Low Income Housing Tax Credit Investor Financing, and New Market Tax Credit deals to classify loans, identify potential credit problems, monitors adherence to the Bank policies, regulations, processes and procedures within commercial lending functions.

Ensure that the Risk Plan is executed in an efficient and effective manner, within the given budget and timelines. Engages in strategic planning's. Monitors remediation's and takes part in risk oversight activities including Risk Management Committee meetings. Recommends policy and procedural changes to executive management and business lines to correct deficiencies identified during credit reviews to strengthen the credit process.

Identifies emerging issues and trends to inform decisions-makers. Participates in exit meetings and interacts with multiple lines of business and other Bank colleagues in reviewing various portfolios. Maintains an expert knowledge of Bank credit policies and procedures to measure proper adherence during loan reviews.

Credit Risk Reporting Responsibility for overseeing the delivery of high-quality reviews, the performance of which cause minimal disruption to the business. Identifies where corrective actions are required and ensures corrective action is taken, as necessary. Responsible for the ongoing reporting ensuring thorough and correct completion of Commercial Management Reports, Resolutions Reports, Findings Reports, Exceptions Reports, Scopes, Mortgage Quality Assurance Reports and Consumer Credit Risk Review Reports in accordance with Standard Operating Procedures and policy.

Annual reporting includes Fannie Mae and Freddie Mac annual certification. Talent Development Initiates professional development to stay well informed on credit products and structures, industry trends and regulatory changes.

With a forward-looking eye, provides guidance, oversight and fulfills supervisory responsibilities following the organization’s policies, procedures, and applicable laws. Responsibilities include writing performance evaluations, interviewing, hiring, coaching, training team members, planning, addressing concerns, and resolving problems. Coaches to sustain and elevates organizational performance while differentiating to ensure pay for performance. Helps in the development of credit risk review staff to ensure skill sets are commensurate with the Bank’s loan portfolio’s size and…