What are the responsibilities and job description for the Chief Credit Officer position at NPAworldwide?
Chief Credit Officer (CCO)
Oversees all aspects of the bank's credit risk management function. This position is responsible for ensuring the Bank maintains adequate credit risk and ensuring full compliance with all lending related banking laws, regulations, and internal policies and procedures. Serves as an advisor to senior management and the Board in areas of credit risk. The CCO leads and oversees all lending related compliance, internal audit, external audit and regulatory relations. The CCO is also responsible for the overall management of all loan administration and credit related activities for the Bank. The CCO is accountable for the entire credit granting process, including the consistent application of a lending policy, periodic credit reviews of existing customers, & the assessment of the creditworthiness of potential customers, with the goal of optimizing the mix of loan sales & outstanding's & credit risk. The CCO oversees the loan administration function of the bank.
Essential Job Functions
- Accountable for credit underwriting strategy and execution including setting credit policy and working with CEO to identify risks.
- Develop department financials goals including credit quality, volume and risk distribution.
- Provide recommendations on loan structure, terms, risk rating and pricing.
- Implements and monitors credit policies and procedures with controls sufficient to maintain asset quality and credit risk management.
- Manage the credit analysis and administration teams including recruitment, development, compensation, and performance management.
- Review, modify, approve or decline loans within lending authority. Serves as primary concurrence officer for all credits approved outside of loan committee including credits needing exception approval, credits needing secondary officer approval above manager's authority, manager-sponsored credits needing primary approval, covenant waivers, credit amendment memorandum approvals, term loan review approvals, and leasing transactions.
- Works with credit analysts and commercial lenders to ensure consistency; adherence to credit criteria, information guidelines, underwriting requirements, and performance expectations of the portfolio.
- Manages Special Assets department and oversees resolution of classified assets. Works directly with the Controller to oversee FASB 114 impairment recommendations and report ALLL, including TDRs, according to regulatory requirements.
- Prepare and distribute reports related to loan quality and growth trends and loan product concentrations.
- Utilize the quarterly Allowance for Loan and Lease Losses (ALLL) report to provide recommendations as to the amount to be reserved for losses by analyzing local, regional, national economic conditions, loan losses and trends, and loan product concentrations.
- Review real estate data and assess the impact on the client's loan portfolio.
- Participate in bank committees including but not limited to ALLL Committee, quarterly Board Loan Committee, and Loan Committee.
- Represent the client's in various customer and industry functions to further enhance its' image and contribute to establishing and growing its' market position.
