Credit Risk Officer

Credit Risk Officer

Job Description:

As a Credit Risk Officer, you will be responsible for proposing and overseeing internal and external strategies to resolve negatively rated loans, reduce bank risk, and optimize recovery processes to restore loans to performing status. This role requires conducting direct discussions and negotiations with borrowers, relevant associates, and external professionals.

Benefits:

• Competitive salary
• Equity ownership in the organization
• Medical and dental insurance coverage
• Paid time off
• 401(k) matching program
• Tuition assistance program
• Employee volunteer program
• Wellness program
• Opportunities to enhance business knowledge
• Hands-on experience in company operations and financial management
• Career growth and professional development opportunities

Key Responsibilities:

• Support the Special Assets team by organizing and managing working files for assigned assets, ensuring proficiency in loan and real estate documentation.
• Engage with borrowers to identify issues and negotiate satisfactory resolutions for reinstating terms or resolving defaults.
• Evaluate loans and borrowers by calculating obligations, verifying reinstatement and payoff documents, drafting default notices, and preparing bankruptcy Proofs of Claim.
• Conduct loan servicing research using internal systems for thorough analysis.
• Prepare loan documentation, including loan transfers, temporary forbearance, and loan modification paperwork.
• Coordinate and monitor necessary third-party evaluations, such as property appraisals, expert property assessments, environmental surveys, property details, ownership records, and billing statements.
• Act as the Bank's Loan Recovery Officer by initiating Trustee and Attorney engagement packages for foreclosure, receivership, bankruptcy, or other legal proceedings.
• Coordinate recovery efforts for adversely rated credits with external entities, including banks, title companies, and the Small Business Administration, while prioritizing the bank’s interests.

Qualifications:

• Minimum of five years of experience in Accounting, Financial Analysis, or a related field.
• Proven experience in commercial lending, with increasing responsibility in credit analysis and underwriting.
• Preferred: At least one year of experience in problem loan resolution (consumer and commercial), loan servicing, or a related field.
• Bachelor’s degree in a relevant discipline required.
• Strong knowledge of standard banking operations, including deposits, loan administration, treasury functions, and commercial banking services.
• Understanding of regulatory and legal compliance requirements and industry standards.
• Intermediate to advanced proficiency in analyzing financial statements and tax returns.
• Experience processing commercial, construction, real estate, and consumer loans.
• Knowledge of proper loan grading for negatively rated credits, identifying troubled loans, impairment assessment, and determining accrual status and troubled debt restructures.
• Understanding of the Fair Debt Collections Practices Act, bankruptcy law, debtor/creditor regulations, and other legal aspects of lending.
• Advanced verbal and written communication skills.

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