Credit Risk Officer II

Description

About Locus:

At Locus, we know communities thrive when they have equitable access to capital. We collaborate with stakeholders across the community development ecosystem to invest in communities with strong aspirations, while addressing challenges like a shortage of affordable housing, limited access to fresh food, a lack of quality jobs, and clean energy innovation.

We believe a capital system that centers community input and impact is essential to ensure that everyone, no matter their background, location, or economic status, can live in healthy, thriving places. 

Locus is the parent organization for a family of community development enterprises, which includes a nonprofit CDFI loan fund, a CDFI bank, a fund management practice, and a national guarantee program. With offices in Christiansburg and Richmond, Virginia, Locus offers innovative and flexible financing tools and strategic consulting services to individuals and organizations in underestimated and excluded communities, most of which are low-to-moderate income. Alongside our many partners, Locus has generated over $2 billion dollars in total impact. 

Locus is a nonprofit holding company regulated by the Federal Reserve. Locus Bank is an FDIC-insured, certified bank and B Corp offering products tailored to socially conscious investors. Locus Bank is a majority-owned subsidiary of Locus. Member FDIC. Equal Housing Lender. Learn more at www.locusimpact.org. 

Position Overview:

Locus Bank is seeking a skilled, detail-oriented, and results-driven professional to serve as Credit Risk Officer II, with extensive experience in managing special assets. Reporting to the VP, Credit Risk Officer III within the Credit Risk Management team, this role focuses on assessing risk and managing distressed assets to mitigate potential losses. Additionally, perform in-depth review of credit analysis, assess the financial health of borrowers, and implement risk mitigation strategies to ensure the organization’s lending activities align with its risk appetite and regulatory requirements. Working with the Credit Risk Management team, management, lenders, underwriting, and operations team members, this position may handle other Credit Administrative responsibilities to service the existing loan portfolio, which is comprised of small business, real estate construction loans, pre-development loans, tax credit bridge loans, and solar construction loans.

Special Assets Responsibilities:

• Manage and oversee distressed loans and special assets.
• Monitor loan repayment schedule, contact customers with overdue payments, and ensure collection through various communication methods.
• Develop and implement recovery strategies for non-performing loans.
• Conduct thorough analysis and assessment of distressed assets to identify risks and develop appropriate action plans.
• Negotiate and restructure troubled debt to maximize recoveries.
• Build and maintain strong relationships with borrowers, attorneys, and other stakeholders to facilitate effective communication and negotiation.
• Collaborate with legal teams on loan workouts and foreclosure processes.
• Review and interpret legal documents, including loan agreements, collateral agreements, guarantees, and other related contracts related to credit transactions.
• Maintain accurate records of all special asset activities and resolutions.
• Recommend and execute liquidation strategies where necessary.
• Provide regular updates and reports on the status of distressed assets to senior management and relevant committees.
• Adhere to Bank’s established Special Assets policies and procedures. 
• In conjunction with Credit Risk Officer III, Credit Risk Officer II will oversee and monitor the special assets portfolio and will present monthly reports to Chief Credit Officer, Credit Risk Officer III and the Special Assets Committee.

Credit Risk Responsibilities:

• Conduct comprehensive evaluations of credit applications, analyzing financial statements, credit reports, and other relevant data to determine the creditworthiness of applicants
• Monitor existing loan portfolios for early warning signs of credit deterioration.
• Work closely with relationship managers and underwriters to ensure sound credit decisions.
• Work closely with other departments, including lending, finance, and compliance, and operations to ensure cohesive risk management practices and effective communication.
• Ensure knowledge and compliance with the organization’s Credit Policy and regulatory compliance standards.
• Serve as a backup for the Construction Loan Administrator, assisting with loan disbursements, draw reviews, budget monitoring, and ensuring compliance with construction loan policies and procedures.
• In conjunction with the Credit Risk Officer III, will serve as a key person responsible for working with lending officers on structuring new loan requests. The Credit Risk Officer II will support the Credit Risk Officer III and Chief Credit Officer with any required workflows in preparation of the weekly Officer’s Loan Review Committee.

Requirements

Experience/Education/Certifications

• Bachelor's degree in Finance, Accounting, Business Administration, or related field.
• 5 years of experience in credit risk management, special assets, or related banking functions.
• Strong knowledge of credit analysis, loan underwriting, and risk assessment.
• Familiarity with loan restructuring, workouts, and recovery strategies.
• Excellent negotiation, analytical, and problem-solving skills.
• Strong communication and interpersonal skills.
• Proficiency in financial modeling and credit risk assessment tools.
• Knowledge of regulatory requirements and compliance standards.
• Ability to apply previous banking experience and knowledge to a unique business model.

Computer/Technology:

• Excellent Word, Excel, and Windows file management skills mandatory
• Strong technical experience with Salesforce or other CRM tools
• Demonstrated web research skills
• Familiarity with Outlook or similar network-based email and calendar software
• Extensive computer usage and Microsoft Teams communication
• Must be able to work independently in a stable remote environment, if necessary

Communication:

• Ability to communicate verbally across all levels of the organization in a clear, concise, and confident manner.  
• Ability to write accurate, clear, and organized communications, incorporating a range of information and analysis. Ability to document workflow and procedures.

Compensation and Benefits:

• $95,000 - $100,000 annual salary, depending on skills and experience
• Annual bonus opportunity
• 18-days of PTO per year 
• 13-paid holidays per year
• Medical, dental, vision, short- and long-term disability insurance
• Life Insurance
• Paid Family Leave options
• 401k savings plan with employer match
• Hybrid Remote (candidates within driving distance of the Richmond Locus office) 

Locus is an Equal Opportunity Employer. Locus does not discriminate in hiring or employment practices on the basis of race, color, religion, gender, age, sexual orientation, marital or familial status, national origin, non-job-related disability, or status as a veteran. 

Salary : $95,000 - $100,000