Chief Credit Officer

Job Description

Job Description

The Chief Credit Officer (CCO) is a vital executive leader responsible for overseeing the organization’s credit operations while ensuring alignment with business goals and regulatory compliance. This role focuses on managing all credit functions, including underwriting, loan reviews, credit software utilization, stress testing, and risk management - particularly credit concentration risks. The CCO evaluates the financial health of credit applicants and develops, implements, and monitors credit policies and procedures. Oversight extends to collections, problem loans, and overdrafts, ensuring compliance with all banking laws and regulations.

Responsibilities

Leadership and Team Management

• Oversee and mentor the credit team, ensuring alignment with organizational objectives.
• Guide direct reports to optimize performance, collaboration, and professional growth.
• Foster a collaborative and high-performing team environment within the credit department.
• Offer training and professional development opportunities to enhance team capabilities.

Credit Risk and Portfolio Management

• Monitor credit portfolios and conduct risk assessments to mitigate potential losses.
• Provide independent assessment of the loan portfolio's quality, identifying strengths and weaknesses at the loan, industry, or lender level.
• Oversee credit risk management, including concentration levels and compliance with policies.
• Monitor loan delinquency activity on a continuous basis.
• Establish guidelines for and monitor appraisal and environmental assessment activities to ensure that appraisals meet with the Banc’s compliance and quality requirements and are completed in a timely manner.
• Determine and ensure loan loss reserve and REO valuation reserve adequacy.
• Ensure customer satisfaction and account retention as appropriate through quality customer service.
• Handle customer requests and complaints with prompt, professional and courteous attention.

Policy Development and Compliance

• Establish and refine credit policies, procedures, and standards to ensure efficiency, consistency, and regulatory compliance.
• Maintain a thorough knowledge of the bank's lending policies and collaborate with the credit team on updates or changes.
• Comply with BSA requirements and ensure completion of proper documentation.
• Stay abreast of regulations and legislative changes affecting credit or loan areas.

Strategic Planning and Stakeholder Engagement

• Develop and execute the organization’s credit strategy, aligning it with market trends and corporate goals.
• Collaborate with senior leadership to drive sustainable growth and profitability.
• Act as the primary credit risk advisor to the executive team and board, presenting insights, recommendations, and performance updates.
• Liaise with external stakeholders, including regulatory bodies and financial partners, to maintain trust and compliance.

Operational Oversight and Support

• Assist with external loan reviews, audits, and examinations.
• Provide technical advice and guidance to lending officers, enhancing credit underwriting standards.
• Prepare and present lending and credit reports for board meetings.

Qualifications:

• Bachelor’s degree in finance, economics, business administration, or a related field (advanced degree such as an MBA or CFA preferred).
• Extensive experience (10+ YEARS) in credit administration, underwriting, risk management, or related banking roles. At least 5 years’ experience with leadership experience managing credit teams.
• Strong knowledge of credit analysis, underwriting standards, and risk assessment tools.
• Proficient in financial software and analytics tools used in banking operations.
• Deep understanding of banking regulations, compliance requirements, and risk management frameworks.
• Ability to develop and implement credit strategies aligned with business goals.
• Excellent verbal and written communication skills for stakeholder engagement and reporting.
• Commitment to ethical standards and transparency in credit decisions.
• Exceptional judgment in balancing risk and growth within credit operations.

Work Conditions:

• While performing the duties of this job, the employee is occasionally required to stand, walk; sit; use hands to finger, handle, or feel, occasionally lift one to fifteen pounds.
• This position is primarily office-based, with no regular remote work. Some travel may be required to attend meetings, training, or regulatory engagements.
• This full-time role generally requires availability during standard business hours. Flexibility may be needed for special projects, deadlines, or board meetings.
• The noise level in the work environment is usually moderate.
• The CCO will frequently work under tight deadlines and must manage high-pressure situations, including regulatory reviews, credit risk assessments, and decision-making on critical matters.