Deputy Chief Credit Officer

POSITION SUMMARY

The Deputy Chief Credit Officer is responsible for managing a range of activities related to the credit function. In coordination with the Chief Credit Officer, oversees the administration of, and ensures the quality of the loan portfolio in a manner consistent with the vision, mission, and lending philosophy. Provides leadership, oversight, and vision in the areas of loan origination, loan policy, credit underwriting, construction management, loan document preparation, special assets and collections.

 ESSENTIAL DUTIES AND RESPONSIBILITIES

• Assists in the directing and overseeing the administration of the loan portfolio from a credit quality and risk mitigation perspective. Oversees portfolio analytics/analysis and makes recommendations to Executive Management team. Ensures that the asset quality of the loan portfolio complies with the standards adopted by Magnifi Financial. 

• Makes recommendations on loan and collections policies, underwriting standards and internal procedures.

• Provides broad functional and strategic guidance in all loan underwriting activities.

• Analyzes financial, credit and operational risks with business partners and members.

• Determines solutions that mitigate or avoid risks.

• Ensures loan portfolio and polices are reviewed and modified as necessary.

• Provides oversight and direction to the construction management group.  

• Provides oversight and direction to the Commercial Document Prep area.

• Oversees staff responsible for ensuring that the credits adhere to existing credit policy. and guidelines and applicants are deemed credit-worthy.

• Formulates and recommends policy and procedure changes as it relates to Credit. Works with executives to approve loan/credit policies which may have an organization-wide affect.

• Exercises individual loan authority as appropriate.

• Serves as a voting member on Loan Committee. Participates in staff and various other committee meetings as needed.

• Serves as Chairman of the Officers Loan and the Credit Committee in the absence of the Chief Credit Officer. Participates in staff and various other committee meetings as needed. 

• Recommends lending authority and the delegation of lending authorities for loan officers. Responsible for ensuring credit and loan policies, procedures and standards are adhered to.  Monitors and manages credit risk, including credit concentrations, problem credits and loan watch lists.

• Reviews larger or complex credit presentations prior to submission to Loan Committee. Will make decisions on the more complex or sizable loans or loan commitments, where difficult questions of policy or credit risk may be involved. 

• Establishes, implements, and manages administrative and review systems and procedures to protect the quality and profitability of the loan portfolio, identify potential problem credits; work with special credits group to minimize losses, and coordinate the efforts of underwriters, credit analysts, and processing personnel.

• Facilitates change management initiatives related to credit.

• Organizes security and disaster recovery activities for the Credit area, ensuring adequate fail-safe’s are in place to protect Magnifi Financials’ assets.

• Interfaces with regulators and supervisory agencies on credit related matters.

• Researches and recommends efficient technology solutions. Oversees management of the loan underwriting system including the design, maintenance, upgrades, and customization. 

• Reviews and makes recommendations to Magnifi Financial Risk Rating system.

• Works in collaboration with Magnifi Financial management and staff to meet the goals and objectives of Magnifi. Ensures cooperation amongst cross-functional areas.

• Participates in work groups and/or committees. Works in collaboration with Magnifi Financial executives, vice presidents, management, and staff to meet the goals and objectives of Magnifi.

• Assists in the training and mentoring of the Credit Analyst staff and consults with Lenders on appropriate loan structures.

• Selects, oversees, develops, trains and manages the performance and compensation of the Credit Officer, Commercial Document Supervisor, and Construction Loan Servicing Specialist. Approves hiring decisions for the department and delivers performance reviews and compensation recommendations for staff.  Responsible for both individual and department results that are achieved through work direction provided to staff.

• Supports the strategic planning process through departmental planning and participates as requested in organizational level strategic planning. Aligns initiatives with business direction. Directs the Credit operation efforts of Magnifi Financial in an efficient manner to assure that Magnifi meets its strategic goals and objectives while minimizing risk. 

• Develops and manages the budget and the monthly rolling forecast that has a major impact to the overall success of the organization. Participates in budgeting for the Credit department.    

• Strategically analyzes and maintains advanced knowledge and awareness in economic, market and industry trends. Recommends appropriate response regarding loan portfolio and policies.

• Provides leadership to community relations efforts, serving as a key ambassador for Magnifi Financial, interacting with key members of the industry and communities served. Projects a positive image in the field of membership and with current and prospective members.

EDUCATION AND EXPERIENCE

• Bachelor’s degree in business, accounting, economics or equivalent. 15 years  progressively responsible supervisory/management credit experience in a larger financial institution, including  10 years in business agricultural lending and SBA Lending, or equivalent knowledge and skills gained through a minimum of 15 years related work experience.  Executive management experience and MBA desired but not required.

• Formal training in credit is preferred (i.e. initial and continuing training, industry designations, CRCM)

BENEFITS

We are committed to investing in our team! Magnifi Financial offers benefits that help everyone achieve their full potential. Full-time employees are eligible for the following benefits (benefits with an asterisk are also available to eligible part-time positions):

• Opportunities for Training and Development *
• Leadership Development *
• Job Level Advancement (ability to move up in your position through training and development) *
• Tuition Reimbursement *
• 32 Hours Volunteer Paid Time Off *
• Paid Time Off - starting at 4 weeks per year for FT; prorated for PT *
• Medical
• Dental
• Vision
• Employer paid Life Insurance/AD&D
• Employer paid Disability Insurance
• Retirement Plan - Employer match up to 4%, eligible for annual profit sharing *
• Paid Parental Leave
• Bonus/Incentive Program
• Health and Wellness Programs *

Pay Transparency:

Salary Range: $144,848/yr. through $241,413/yr..

Salaries vary based on factors such as location, internal equity, skills, experience, education, and qualifications for the role. 

Total compensation package varies based on position and may include bonuses, performance-based incentives, commission, and/or discretionary bonuses.

Who We Are:

At Magnifi Financial, we offer a collaborative, friendly environment where we support our employee's growth and development, and create a positive work atmosphere.  As a member-owned organization, we are focused on making dreams come true for our members. Our vision is enhancing the lives of members and community through strength, service and growth.

Magnifi Financial has grown to more than 85,000 members, $2.4 billion in assets, over 400 employees, and over 25 branch locations throughout Minnesota. But what hasn’t changed is our focus on the members and communities we serve.

Salary : $144,848 - $241,413