Chief Credit Officer

PURPOSE OF JOB:

This supervisory position is responsible for leading and managing the Credit Department in all credit initiatives in a strategic and tactical manner. Oversee and manage the creditworthiness of prospective and current customers in accordance with the Credit Policies and Procedures. Manage the syndication and consumer buying functions. Risk rate the customer base. Monitor financial covenants and manage the credit portfolio in terms of industry segment risk, credit risk, and credit exposure limits. Measure the performance of the Department. Oversee new hire recruitment and testing to ensure highly skilled and competent credit acumen, in support of the needs of the organization. Ensure business is conducted and service to our clients is completed on a timely basis, while minimizing credit risks. Look for ways to approve transactions, with proper structure and additional collateral when appropriate, while maintaining banking industry credit best practices.

JOB DUTIES:

Credit Analysis

• Manage the process of credit analysis, using banking industry best practices as defined in company policies.
• On June 1st each year, and working with the CEO, Executive Chairman, and United Companies internal audit group, review at least (20) transactions from each segment of our portfolio (i.e. Retail transactions, Commercial loans/leases under $200,000, Commercial loans/leases from 201,000-$750,000, and Commercial loans/leases of credit approvals over $751,000) to ensure FULL compliance with our credit policies and best practices.
• At least annually, and as needed, and in conjunction with the CEO, modify, update, and implement Policies & Procedures (P&Ps) and departmental workflows related to credit analysis.
• Ensure that departmental staff members perform credit analysis in an accurate and timely manner. Our goal is to timely service our clients and expedite credit approvals within policy timeframes. Without exception, report monthly, by the 10th of each month, the approval performance against Policy guidelines to the CEO and Executive Chairman.

Credit Approval and Aspire Software

• Monitor Aspire queues related to the credit approval process for transactions requiring approval, credit acceptances, and purchase orders.
• After an initial introductory timeframe, use lending authority of up to $1,500,000 and make credit decisions according to turnaround timelines.
• Sign credit acceptances and purchase orders upon confirmation of credit terms and vendor vetting.
• Communicate with President and Vice President of Business Development regarding transactions that require attention, to ensure continuous deal flow.

Credit Administration

• On a quarterly basis, risk-assess the company’s Top Ten industry segments. Include an assessment of industry risk profiles, concentrations, and general economic risks that may impact specific industry performance.
• Coordinate the use of and make improvements to the tracking, customer notification, and reporting system for financial covenants.
• Report covenant status to CEO, Executive Chairman, and President, by the 10th of each month. For any client with a violation, report it immediately to the Executive Chairman, President, and CEO.
• Working with the President and CEO, annually review on June 1st our Risk Rating system against banking industry best practices.
• Assist in a loan review process for the company’s loan portfolio as determined by the CEO and/or Executive Chairman.
• Ensure that all exposures over $150,000 are risk rated in LeasePlus/Aspire system(s).
• Recommend changes in the Policies and Procedures and associated forms as appropriate.
• Communicate with Operations / Admins / Compliance to define credit approvals, answer questions, and help solve problems with funding, documentation needs, etc.
• Assist President and Vice President of Operations to manage workout accounts, deferrals, and assumptions.
• Assist the Corporate Account Executives (CAEs) and the Sales team with elevating their working knowledge of credit.
• Ensure initial formal testing of each credit officer, using banking industry testing systems. Scores must exceed baseline targets To Be Determined.
• Assist the CAEs in discussing credit questions with clients. Upon request, attend client meetings to gain a better working knowledge of their business, in an effort to provide better service and grow relationships when credit requirements are met.

Credit Workouts

• Assist President, Vice President of Operations, and the Director of Special Assets, with workout accounts, deferrals, and assumptions.
• Attend monthly meetings with the Legal/A/R team, to stay informed on specific client issues and offer assistance when possible.

Consumer Paper

• Manage the Credit department's consumer buying process. On June 1st of each year, or as requested by senior management during the year, assess our consumer buying practices against the banking industry and best practices.
• Participate in monitoring the purchasing process and training buyers.
• Maintain consumer credit quality according to the Policy buying parameters.

Syndication

• Manage the Credit Department's Syndication function.
• Monitor Syndication production goals.
• Maintain relationships with House referral sources in accordance with Customer Relationship Management.
• Work with Syndication Manager to develop and improve syndication networks and processes.
• Develop procedures and new relationships for syndication sell-side activities.
• Manage portfolio buys, working with the Syndication Manager.

Management & People Development

• Effectively build, manage, and develop talent to support a performance culture within the department.
• Closely manage employees, utilizing 1-on-1 meetings and Subject & Action (S&A) accountability standards.
• Conduct timely performance appraisals for employees. Ensure timely submission and monitoring of annual business plan goals for yourself and your direct reports.
• Ensure team members achieve minimum annual training requirements, as appropriate. On July 1st each year, retest each credit officer, using approved outside testing service.

General

• Ensure prompt and regular attendance, professionally communicate absences and work directly with CEO to schedule time off.
• Perform other appropriate duties as may be assigned by Management.
• Travel as business needs may require.

Quality & Continuous Improvement

• Personally commit to quality in all aspects of work.
• Provide World Class Customer Service for internal and external customers.
• Participate in and promote the established Quality Improvement Process (QIP) for continuous improvement.
• Participate on teams to research, measure, and correct problems and to strive for process improvement.
• Communicate and exemplify the Company’s Mission Statement, Vision Statement, Values, and Philosophy.
• Attend at least ten (10) credit hours of training each calendar year to continue development of work-related skills.

Full-Time Employee Benefit Options Include:

• Health, Dental, & Vision Insurance
• 401(k) Retirement Savings Plan with Company Match, including Roth option
• Flexible Spending Accounts and/or Health Savings Accounts, including potential for company contributions based on annual health risk assessments
• Life and Accidental Death & Dismemberment Insurance
• Short- and Long-Term Disability Insurance
• Supplemental Voluntary Insurance Policies with options for Critical Illness, Hospital Indemnity, and Accidents
• Paid Time Off for Vacation, Sick, and Holidays
• Employee Assistance Program

This does not necessarily list all responsibilities, duties, requirements, or efforts associated with the job. While this list is intended to be an accurate reflection of the job, the company reserves the right to review and modify as circumstances or business needs require.

Education:

• Bachelor’s Degree

Experience:

• 10+ years of experience in Commercial Banking or Accounting is minimally required.

Other Knowledge, Skills, Abilities & Competencies:

• Strong working knowledge of economic indicators, financial markets, hedging concepts, interest rates, and lease/loan structures and contracts.
• Ability to interpret all types of business financial statements, including Reviewed and Audited Financial Statements and Notes to Financial Statements.
• Familiarity with individual, corporate, and partnership federal income tax returns.
• Demonstrate an analytical skill set, including performing financial calculations, multitasking, quantifying, spreadsheets, data manipulation, data mining, and researching accurately and within tight time frames.
• Ability to multitask amongst various projects and competing priorities.
• Strong working knowledge of computers, office equipment, and software, including Microsoft Office (especially Excel and Word) and databases.
• Excellent communications skills in verbal, written, and presentation forms.
• Ability to professionally interact and communicate effectively with customers and with senior management.
• Prior experience working with Sales personnel while in a Credit role is preferred.
• Internal and external customer responsiveness, including after normal business hours.
• Ensure confidentiality of business-related information.