VP, Credit Risk – Policy

This is a fully remote position, open to applicants in United States.

📋 Description

• Oversee the credit approval process and portfolio monitoring systems for all current and future credit products.

• Ensure that credit policies are regularly reviewed, modified as necessary, and effectively communicated throughout the organization.

• Continuously evaluate existing systems, including alternative data and modeling technologies such as predictive underwriting engines, credit risk management models, anti-money laundering/anti-fraud controls, and fair-lending compliance tools.

• When appropriate, assess, select, and implement new systems to ensure that all policies and procedures maintain the highest integrity and consistency.

• Ensure that AOF’s credit policy, models, and underwriting process are as effective and predictable as possible by integrating algorithms, scorecards, and automated criteria with thoughtful human intervention to enhance the small business borrower experience.

• Maintain ongoing focus and support for AOF’s credit culture across all units involved in the credit process within current small business lending functions, including credit policy, risk modeling/scoring, underwriting, and collections.

• In the future, lending may expand to additional verticals, including SBA, consumer, and mortgage lending for our target customers.

• Ensure that the allowance for credit losses using CECL and the charge-off process and procedures align with industry best practices and meet current and anticipated accounting and regulatory guidelines.

• Ensure that internal controls and procedures comply with the highest industry standards and are suitable for all regulatory requirements.

• Ensure that all loan systems and tracking methods provide the necessary data to credit risk management, underwriters, management, the Credit Risk Committee, and the Board of Directors for accurate loan quality assessment and risk management.

• Provide overall analysis and oversight of loan portfolio management to ensure that AOF’s asset quality meets established objectives, aligning AOF’s credit policy management and scoring models with AOF’s underwriting standards.

• Promote healthy diversification of the loan portfolio by establishing sound credit policies and adequately training underwriters, small business lenders (e.g., future relationship managers), loan managers/processors, and credit advisors, adopting a proactive approach to engage various stakeholders in partnership.

• Maintain a strong awareness of competitors’ activities, their credit practices, and overall industry best practices.

• Act as AOF’s liaison and coordinator with regulators, auditors, and other external stakeholders regarding the organization’s credit management disciplines, loan quality, and lending activities when necessary.

• Stay informed about applicable state and federal lending and compliance laws and regulations, implementing appropriate policies, procedures, and controls.

• Collaborate with the SVP of Operations to manage loan delinquencies and servicing performance, facilitating effective strategies and procedures to ensure that delinquencies and defaults are managed effectively and reported to the Credit Risk Committee, ETeam, and the Board.

• Efficiently manage direct reports by hiring, mentoring, coaching, counseling, training, and providing discipline as appropriate.

• Ensure timely, fair, and accurate completion of performance reviews for direct reports.

• Coordinate comprehensive due diligence of sellers, servicers, and loan assets and/or loan participations prior to purchase to safeguard AOF and diversify credit and collateral risks in the overall portfolio.

⛳️ Requirements

• BS or BA degree in Statistics, Engineering, Mathematics, or Finance.

• A Master’s degree is a plus.

• At least 10 years of combined experience in commercial and consumer credit risk, with a minimum of five years in a leadership role within a small business credit function.

• Knowledge of or experience in other risk management areas such as compliance or operational risk.

• Ability to manage strategic relationships and provide sound risk management guidance to internal and external business partners.

• Thorough understanding of broader financial services operations and control systems, along with in-depth knowledge of credit and credit operations.

• Must effectively engage with outside service providers and other lending institutions/organizations.

• Exceptional communication, organizational, and execution skills.

• Knowledge of and experience in regulatory compliance, including Fair Lending, BSA/AML, and other lending compliance.

• Strong understanding of financial statement analysis and exceptional knowledge of small business credit loans, principles, policies, and practices.

• Excellent oral and written communication abilities.

• Strong interpersonal, motivational, leadership, and team-building skills.

• Fully knowledgeable and proficient with Microsoft Suite and adept in using software and quantitative tools and techniques, including application scoring, collection scoring, predictive analysis, modeling, financial forecasting, and risk analytic techniques for accurate credit scoring results and portfolio management.

• High proficiency in initiative, strategic vision, independent thinking, thoroughness, analytical, negotiation, and critical thinking skills.

• Proven ability to recruit, develop, and retain top talent to ensure adequate succession planning, capability, and capacity among credit risk management team members.

🏝️ Benefits

• 100% company-funded Medical, Dental, Vision, Life & Disability coverage for employees (based on your plan selection).

• 90% company-funded dependent coverage (based on your plan selection) along with Flexible Spending Accounts.

• Voluntary benefits with payroll deduction for Supplemental Life & AD&D insurance and legal plans.

• Tax-deferred & Roth 403(b) Retirement Plan with employer match.

• Unlimited paid vacation days, 12 paid holidays, 1 floating paid holiday, 10 sick days, and paid parental leave.