TITLE: Chief Credit Officer
DEPARTMENT: 911 – Credit Administration
JOB SUMMARY:
The Chief Credit Officer is responsible for the overall credit risk management of the bank. This position oversees the development and implementation of sound credit practices and policies in support of bank’s strategic growth. Chief Credit Officer will also direct all credit administration, annual loan review, credit analysis and support special asset functions of the organization in accordance with the policies.
ESSENTIAL FUNCTIONS:
- Collaborate with executive leadership to align credit policies with the bank’s business objectives.
- Oversee the development and implementation of formal procedures for the credit administration department, including an accurate loan risk rating process.
- Monitor activities and reports to ensure all tasks such as annual commercial credit reviews, new credit requests, financial statement collection, past due loan payment collections and problem loan management are done in a timely manner.
- Mitigate risk to the bank associated with documentation deficiencies, policy violations or credit misrepresentation.
- Review and coordinate revisions to loan policy and ensure annual ratification of and approval of periodic amendments to loan policy by Board of Directors.
- Determine appropriate due diligence necessary to establish appropriate lien priority and perfection.
- Review proper documentation of loans according to previously approved terms and conditions.
- Ensure adherence to officer loan authorities as established by loan policy.
- Establish procedures for custody and control of assets, records, loan collateral, securities and other negotiable instruments to ensure safekeeping.
- Establish budget for department and evaluate department expenses to ensure adherence to budget.
- Report portfolio and measurements to the Board of Directors.
- Prepare operational risk reports for management analysis.
- Select and recommend appropriate techniques for minimizing losses, such as procedures for recognizing, monitoring, and working out of substandard credits.
- Monitor documentation exceptions.
- Interact with vendors regarding service and products to facilitate effectiveness of lending and leasing functions.
- Review monthly management and board reports documenting lending and leasing activities.
- Establish appropriate tools to monitor credit, such as financial statement tracking, covenant tracking, and insurance.
- Reviews consumer and credit card underwriting and documentation standards.
- Review the monthly loan loss reserve analysis and works with Credit Administration to recommend loan loss reserve provisions to President.
- Assist and advise staff on loan documentation, loan compliance, and customer service, seeking outside legal counsel when necessary.
- Collaborate with the company credit review team to assure compliance with credit risk management.
- Provide direction, as needed, with workout loans and foreclosures.
- Serve as bank’s liaison with bank examiners on credit and loan loss reserve issues.
- Hire, develop, motivate, and train staff, including planning and delegating work assignments and projects.
- Evaluate performance, administer touch points and deliver performance evaluations.
- Foster a positive work environment that encourages professional growth and development.
- Establish clear expectations and hold team members accountable to performance and behaviors aligned with our culture.
- Understand and administer compensation based on pay for performance philosophy, including merit increases and variable pay.
- Participate in community engagement events. This can include professional, civic and community groups.
- Comply with all company or regulatory policies, procedures and requirements applicable to this position.
- Foster and preserve a culture of inclusion, innovation, collaboration, accountability, achievement and passion.
- Additional duties and responsibilities may be required to support the company’s mission, vision and values.
QUALIFICATIONS:
- Bachelor’s degree in accounting, finance, business, or a related field.
- Minimum ten years’ experience in credit and lending in commercial banking or comparable industry experience.
- Extensive knowledge of credit analysis, banking regulations and bank policies.
- Proven leadership and management experience, leading credit teams to accomplish quality results.
- Strong analytical and negotiation skills are required.
- Ability to analyze complex commercial loan requests and make sound lending decisions.
- Ability to meet deadlines, work in a fast-paced environment, and manage a variety of initiatives.
- Excellent verbal, written communication and interpersonal skills with the ability to interpret, summarize, and present issues to management, staff, and customers.
- Self-motivated and results oriented.
WORKING CONDITIONS:
- Duties are performed in a professional office environment.
At QCR Holdings, Inc. we are committed to fostering and preserving a culture of inclusion and strongly believe that it’s our differences – of all kinds – that make our company and our communities better and stronger.
QCR Holdings, Inc. is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, disability, age, sexual orientation, gender identity, national origin, veteran status, or other protected class status.
It is the policy of QCR Holdings, Inc. to comply with the Americans with Disabilities Act by providing reasonable accommodations to enable qualified individuals with disabilities to access the job application and interview process, to perform the essential functions of the job, and to receive equal access to other benefits and privileges of employment.
