Chief Credit Officer
Reports To: President/CEO
The Chief Credit Officer (CCO) is responsible for measuring and managing the aggregate risk in the Bank’s loan portfolio on a continuing basis in order to prevent or mitigate loan losses. The CCO will oversee the Bank’s commercial credit policies, procedures and processes ensuring appropriate mitigation of the risks inherent in the loan portfolio. The CCO will assure documentation is in compliance with loan approvals, state and/or federal regulations and assist in detection of deterioration in loan quality and review. The CCO will be responsible for the attainment of internal lending and compliance objectives and the overall direction and operations of the credit department, including individual loan and portfolio quality.
Job Responsibilities
Review the Bank’s loan portfolio on a continuing basis to prevent or ameliorate loan loss
Measure and manage aggregate risk in the Bank’s loan portfolio
Assist in the detection of loan quality deterioration
Evaluates the loan portfolio and analyzes any developing trends
Ensures that the loan portfolio is appropriately risk-rated and adequately reserved
Oversees and provides active management of the Bank’s credit analysis function
Assists in determining the adequacy of the allowance for loan loss
Liaison to Examiners and external auditors
Assists in the initiation, development and implementation of appropriate lending policies and procedures
Provides advice and guidance to officers engaged in loan activities and other department personnel on matters including credit analysis, evaluation of financial statements and credit information and collection of overdue loans.
Assists in maintaining compliance with all applicable State and/or Federal regulations and internal policies
Provides periodic reports to Senior Management and/or Board of Directors
Voting participant in the Bank’s Management Loan Committee
Order and review third-party appraisals/evaluations
Job Duties
Oversees the full range of managerial duties for the loan review, compliance and credit analysis functions including adherence to policies and practices of the Bank and applicable regulatory and governmental agencies
Develop and maintain a system of credit analysis and quality assurance for loans made as required by Board directives; assign ratings as needed in conjunction with loan loss reserve analysis
Examine files periodically for assurance of credit and collateral documentation, regulatory compliance and loan policy conformance; review technical exceptions and deficiencies; maintain reports of continued outstanding exceptions to the Board of Directors.
Prepare written analysis on loans, aggregate lending vs. indebtedness for individual borrowers, complex loans and weak loans
Identify problem loans, make recommendations for assignment of loans to review loan list that is reviewed periodically with the Board of Directors, discuss the status of problem loans with the CFO and Senior Lending Officers and make recommendations regarding the future credit information needs; identify loans meeting non-accrual or charge-off criteria
Evaluate and recommend policy changes based on compliance or loan reviews and the dissemination of other pertinent facts
Prepare and/or provide analysis of periodic reports including, but not limited to, Commercial Over 250 Risk Rating Report, Commercial Line of Credit Report, Classified Loans Report, Loan Past Due Report and Allowance for Loan and Lease Loss Report.
Lead, coach, develop and manage staff on a daily basis
Attend meetings with existing and potential customers including onsite visits
Attends Board of Directors meetings, when applicable, to discuss credit quality of loan presentations
Assign third-party appraisals from rotating approved appraiser list and review completed appraisal reports for residential and non-complex commercial requests under $700,000 when independent of the transaction
Ongoing monitoring of customer financial statements
Other duties as assigned