Chief Credit Officer

Overview

Along with the Chief Commercial Officer, has overall responsibility for the soundness of the Bank's credit portfolio as well as the development of credit policies and procedures. Oversees the credit approval process. Serves as the Senior Credit Officer providing the leadership and vision to develop and execute lending and credit policies and strategies in support of the Bank's business objectives and strategic plan. 

 

Provides support for commercial lending and residential and consumer lending functions while ensuring and enhancing the integrity of the Bank's credit risk management program including underwriting, risk rating and credit approval processes, monitoring of credit quality, and compliance with applicable internal and external policies and regulations. 

Responsibilities

ESSENTIAL JOB FUNCTIONS/ PRIMARY ACCOUNTABILITIES / RESPONSIBILITIES:

The Chief Credit Officer is responsible for the overall management of the Bank's Commercial Credit Administration department, including the underwriting and loan review analysis process and all functions providing lending support, direction, credit information, and loan policies, procedures, and processes to ensure the overall quality of the Bank's lending portfolio.

 

Performs any functions necessary, within the scope of authority and expertise to provide the highest level of service and responsiveness to customers.

Through the oversight of the Bank's commercial credit department, responsible for monitoring and ensuring overall credit quality including affirming and tracking risk ratings and changes thereto and for developing the scope of semi-annual loan reviews for and interacting with outside loan review personnel.

Works to evaluate the current loan systems, credit scoring model, and overall credit process to implement more efficient policies and procedures to improve the credit decision process.

Partners with the EVP/Chief Commercial Officer to identify portfolio risks and provide guidance on the risk tolerance of the bank in relation to the economic conditions and projections.

Oversees periodic review of the level of credit risk within the loan portfolio.

Responsible for developing and enhancing internal reporting to be used by management, the Board, the regulators and both internal and external auditors to evaluate internal controls and compliance with applicable commercial lending policies and regulations.

Oversee the preparation of monthly reports of various portions of the loan portfolio, including concentration of credit, portfolio balances, etc. for benefit of supervisory and Executive officers.

Responsible for the day-to-day management of the Credit Administration and Underwriting teams, performing analytical and operational support duties within the department.

Coordinates developing and maintaining Loan Policy and Loan Procedure to ensure adherence to sound underwriting best practices, laws, and regulations.

Serves as a department resource and resolves more complex problems.

Responsible for reviewing and analyzing complex credit decisions according to board approved policies.

Oversee the overall loan structuring and credit decisions to ensure transactions and credit decisions meet standard asset quality levels.

Responsible for the promotion of a credit culture based on strong asset quality.

Maintain frequent contact with the Bank Lending Teams to develop and maintain relationships between departments.

Participates in community activities to promote business development efforts and ensure a robust credit risk culture.

Ensures compliance with all banking laws, rules, regulations, and prescribed policies/practices/procedures necessary to reduce risk and uphold ethical standards related to and required by one's duties.

Maintains effective expense control in operating the departments.

Assist in the Bank's audits.

Maintain a broad, macro view of economy and of industry and competitive trends specific to the Bank's risk-based activities and use this information to help shape credit/lending/portfolio management practices.

Keeps abreast of product, strategic and technological developments, and their impact on the Bank's compliance risk.

 

OTHER ACCOUNTABILITIES / RESPONSIBILITIES:

Performs related and unrelated duties as may be required.

Qualifications

POSITION REQUIREMENTS:

• Bachelor's degree, preferably in business, finance or accounting; or equivalent, MBA desirable.
• Must have seven to ten years of relevant banking experience, preferably in credit and risk management. 
• Exposure to all bank-related operations and products.
• Excellent managerial, organizational, communication and analytical skills required. 
• Must be computer proficient with good knowledge of MS Word, Excel and Access database.

 

PHYSICAL REQUIREMENTS:

• Prolonged periods of sitting at a desk and working on a computer.

 

SUPERVISORY SCOPE:

Responsible for Credit administration and Credit Underwriting Departments. Direct reports include Commercial Credit Underwriting Manager and Credit Administration Manager.

 

INDEPENDENT ACTION:

• Establishes short-range plans and objectives within scope of bank-wide policies and goals.
• Consults with Executive Management regarding policy interpretation or exceptions.

 

BANKNEWPORT CORE VALUES:

• We celebrate
• We empower employees to be creative problem solvers.
• We invest the time to know our customers, communities, and employees.
• We commit to serving the financial needs of Rhode Islanders.

 

Any physical demands or work conditions 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.

 

BankNewport is committed to a policy of Equal Employment Opportunity and will not discriminate against an applicant or employee on the basis of race, color, religion, creed, national origin or ancestry, sex, age, physical or mental disability, veteran or military status, genetic information, sexual orientation, gender identity or expression, pregnancy, childbirth or related medical conditions, military service, marital status, or any other legally recognized protected basis under federal, state or local laws, regulations or ordinances.

Employment Type: OTHER