(MI) Chief Credit Officer
The Chief Credit Officer is responsible for providing support, direction, credit information, and loan policies and procedures to ensure the overall quality of the Bank’s lending portfolio. Duties include calculating the Allowance for Loan and Lease Loss Reserve (ALLL) and making recommendations to executive management and the Board of Directors for monthly allocations to the Loan Loss Reserve. Reviews large and complex loans prior to submission to Loan Committee. The position of Chief Credit Officer is also responsible for participating in several committees involved in the management of the Bank, such as Management Loan Committee, Board Loan Committees and Asset/Liability Committee. Performs direct supervisory duties of department staff. Assumes responsibility and is accountable for adherence to Bank policies and procedures as well as, all applicable state and federal banking regulations
- Provides supervision and support to all assigned areas of department operations where service or assistance is needed. Oversees activities of department support personnel and opens and closes department.
- Reinforces the application of superior customer service through his or her own example along with appropriate follow through with involved customers and employees; conducts specific periodic meetings and presentations on this topic with all staff members.
- Responds to inquiries or refers inquiries to the appropriate department or person; exhibits the necessary follow through with customers and/or staff involved.
- Prepares and calculates monthly ALLL and makes recommendations to executive management and the Board of Directors for the amount to be added/deducted to/from the loan reserve; calculation includes analyzing local, regional, and national economic conditions; loan losses and trends; and loan product concentrations.
- Reviews large and complex loans prior to their submission to Loan Committee; reviews consist of making recommendations on loan structure, terms, and pricing so as not to expose the Bank to undue credit risk.
- Prepares and distributes credit information covering loan quality trends, growth trends, loan product concentrations; works closely with other credit managers in reviewing such topics as local real estate data and assessing the impact on the Bank’s loan portfolio.
- Supervises the Bank’s special assets area in curing weak credits, collection of such credits, or the movement of such undesirable credits; assists in the compilation of loan status reports and implementing respective loan action plans; prepares a report re-aging the status of the Bank’s special assets for submittal to the Board of Directors for review.
- Prepares and discusses loan information submitted to the Board of Directors for approval; loan information is defined as the calculation of the ALLL, graded loan reports, and other loan quality information and trends.
- Prepares, reviews, and modifies when necessary lending policies and procedures which enable the Bank to perform in a business manner, but not expose it to undue risk.
- Attempts to ensure that individual loans are risk rated correctly when reviewing loans for loan committee submission.
- Consistently applies good decision-making techniques pertaining to inquiries, approvals, requests as they apply to existing policies and procedures, keeping within assigned approval limits and using these instances as learning tools for employee development.
- Develops and maintains knowledge of financial industry, economy, market conditions, rates, vendors and competition.
- Represents the Bank in various community, civic and community reinvestment functions to further enhance the Bank’s image and develop additional business; assists the Bank in establishing and maintaining market position in the financing arena.
- Cross sells the Bank’s other products and services, referring customers to appropriate staff as indicated.
- Assist in meeting annual deposit and loan growth goals assigned by senior management and the Board of Directors; participates in various internal committees assigned by Senior Management and the Board of Directors.
- Responds to inquiries or refers inquiries to the appropriate department or person and exhibits the necessary follow through with customers and/or staff involved.
- Provides supervision and support to all areas of the department where service or assistance is needed; oversees activities of assigned department personnel; opens and closes the department.
- Monitors staff in daily tasks, operations and quality control; ensures the organization of assigned areas of the department, coordinating available resources (e.g., staff, materials, etc.) for maximum results.
- Consistently applies superior decision-making techniques pertaining to inquiries, approvals and requests as they apply to existing policies and procedures, keeping within assigned approval limits and using these instances as learning tools for employee development.
- Assumes responsibility for special projects; gathers data and prepares reports for the Board of Directors and other members of Senior Management, audits and other personnel.
- Plays a positive role in the development and growth of assigned department staff through excellent communication skills, both verbal and written, along with strong delegation skills assuring a highly cross-trained staff.
- Performs personnel actions including performance appraisals, disciplinary actions, and interviewing candidates for employment; supervises the daily activities of the department including, but not limited to, effective delegation of assignments, developing work schedules and providing necessary training.
- Processes, solves and answers complex customer transactions, problems or inquiries.
- Operates computer terminal or personal computer to process account activity, determine balances and resolve problems within given authority.
- Answers telephones, answers question and directs callers to proper Bank personnel.
- Assumes responsibility for various department functions in the absence of staff members or in overload situations.
- Treats people with respect; keeps commitments; inspires the trust of others; works ethically and with integrity; upholds organizational values; accepts responsibility for own actions.
- Demonstrates knowledge of and adherence to EEO policy; shows respect and sensitivity for cultural differences; educates others on the value of diversity; promotes working environment free of harassment of any type; builds a diverse workforce and supports affirmative action.
- Follows policies and procedures; completes administrative tasks correctly and on time; supports the Bank’s goals and values; benefits the bank through outside activities.
- Performs the position safely, without endangering the health or safety to themselves or others and will be expected to report potentially unsafe conditions. The employee shall comply with occupational safety and health standards and all rules, regulations and orders issued pursuant to the OSHA Act of 1970, which are applicable to one’s own actions and conduct.
- Mastered experience, knowledge and training in financial statement and tax return analysis typically resulting from a combination of education in accounting, financial and/or credit analysis or related areas.
- Mastered experience, knowledge and training in all lending activities and terminology.
- Mastered knowledge of commercial, construction, real estate and consumer loan processing.
- Mastered knowledge of related state and federal lending and compliance regulations, and other Bank lending policies.
- Ability to develop marketing and business development skills with customers.
- Excellent organizational and time management skills with the ability to provide leadership, supervision and training for multiple employees using positive supervisory techniques to ensure maximum productivity; demonstrated ability in organization and delegation skills.
- Advanced knowledge of human resource labor laws and policies.
- Intermediate skills in computer terminal and personal computer operation; mainframe computer system; word processing and spreadsheet software programs.
- Intermediate typing skills to meet production needs of the position.
- Advanced math skills; ability to calculate interest, commissions, proportions, and percentages; balance accounts; add, subtract, multiply and divide in all units of measure, using whole numbers, common fractions and decimals; locate routine mathematical errors; compute rate, ratio and percent, including the drafting and interpretation of bar graphs.
- Exceptional verbal, written and interpersonal communication skills with the ability to apply common sense to carry out instructions and instruct others, train personnel, read, analyze and interpret documents and professional journals, understand procedures, write reports, correspondence and procedures, speak clearly to customers and employees.
- Thorough understanding of management procedures; ability to plan department or Bank activities (setting objectives, developing strategies, budgeting, and developing policies and procedures); initiative to organize various functions necessary to accomplish department or Bank activities; effectively staff (selecting, training and developing employees); directing employees towards the desired objectives (delegating, motivating, resolving problems); controlling the function (developing performance standards, measuring results, taking corrective action and rewarding employees as appropriate).
- Ability to deal with complex problems involving multiple facets and variables in non-standardized situations.
The position of Chief Credit Officer is responsible for the supervision of multiple employees, and carries out supervisory responsibilities in accordance with the Bank’s policies and applicable laws, ensuring adherence to EEO guidelines.
EDUCATION AND/OR EXPERIENCE:
- Bachelor’s degree (BA) or equivalent from a 4-year college or university;
- Related experience and/or training; or the equivalent combination of education and experience.
- Work related experience should consist of a financial analyzing or lending background. Educational experience, through in-house training sessions, formal school or financial industry related curriculum, should be business or financial industry related.
- The incumbent is in a non-confined office type setting in which he or she is free to move about at will.
- The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job.
- The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job.
- Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
Management reserves the right to change this job description at any time according to business needs.