1st VP, Commercial Credit Officer - New York

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Regular Full-Time Managers Woodbridge, NJ, US 1 Attachments

5 days ago Requisition

Salary Range: $ To $ Annually

Summary:

Under the direction of the Chief Credit Officer, the 1st VP, Commercial Credit Officer develops and updates credit policies and procedures to comply with regulatory requirements and that are consistent with the Bank’s risk appetite and strategic goals, in light of current economic conditions. In addition, individual provides guidance and input on proposed changes, seeks consensus on the changes, and participates in the communication of the approved changes to the commercial lending units, senior management and any other stakeholders.

The 1st VP, Commercial Credit Officer leads a team of Commercial Credit Manager(s) and analysts and oversees the quality of Credit Analysis.

Job Responsibilities:

Credit Team Management

• Manage credit analysis functions pertaining to the underwriting and approval of Commercial Loans.
• Monitors and manages the underwriting pipeline, ensuring turnaround time meets senior management expectations, complies with regulatory timelines and enhances the overall client experience.
• Exercises the usual authority of a manager including supervising, training, scheduling, performance evaluations, salary recommendations and disciplinary actions.
• Demonstrates a commitment and responsibility to Equal Employment and Affirmative Action planning. Resolves any unusual problems that may occur.

Credit Process Improvement / Streamline

• Serves as a leader and advocates to enact change and innovation within the Credit Department. Creates, assesses, and modifies credit procedures and policies to ensure that the Bank does not initiate loans that have undue risk, in light of changing economic conditions.
• Establishes, implements and maintains procedures, and processes to ensure compliance with regulatory guidance and industry best practices.
• Exercises excellent judgement when approving transactions within his/her Credit Authority and recommending approval for those that require a higher level of Credit Authority. Works closely with the Commercial Lending Team to determine the appropriate structure for all types of commercial loans.
• Assesses the appropriateness of the risk rating assigned by credit analysts during underwriting.

Portfolio Oversight and Credit Risk Management

• Reviews credit file reviews performed by Portfolio Managers to identify early warning signs of credit risk and assesses the appropriateness of the assigned risk rating. Approves risk ratings within his/her designated authority.
• Identifies loans within the commercial portfolio during the credit file review and underwriting process that demonstrate weakness and may require the assignment of a Watch designation or downgrade into a criticized/classified risk rating category. Presents recommendations to the quarterly Credit Risk Taskforce.
• Verifies all files comply with state and federal regulatory conditions and internal controls. Resolves any complex or unusual problems.

Team Development / Coaching

• Develop, coach and mentor team members.
• Create development and training programs for individuals based on experience and goals.

Management Committee and Board Reporting

• Prepares management reports for Executive Management Operating Committee and the Board of Directors.
• Reviews and recommends commercial loan transactions for presentation and approval by the Credit Committee.

Technology Enhancement

• Seek and implement emerging tools and technology and use broader use of data and analytics to drive deeper insights regarding credit and credit risk practices of the Bank and improve department efficiencies.
• Work closely with Commercial Technology Department to ensure that the department is properly using all aspects of the Bank’s Loan Origination System (LOS), and request modifications when there is a need.

Regulatory and Policy Compliance

• Maintain thorough knowledge of the Bank’s credit policies and procedures as well as credit risk trends, banking…