Interim Chief Credit Officer

1 week ago

Memphis, United States Vaco Remote Work Freelance Full time
Overview: The Interim Chief Credit Officer will leverage extensive banking experience, ideally as a former CCO or senior manager, to oversee and enhance the bank's credit function. This role focuses on optimizing the loan portfolio, ensuring adherence to risk management practices, and providing strategic guidance to lending teams.
Role Responsibilities:
  • Leadership of Loan Committees: Act as the Chairman of the Loan Committee, leading discussions and decisions regarding loan approvals and risk management strategies.
  • Risk Management Oversight: Provide comprehensive oversight of the bank’s credit portfolio to minimize risk and ensure quality control. Regularly review data to monitor portfolio health.
  • Loan Classification Management: Chair the Loan Classification Committee, ensuring risk ratings are adequate and that the bank complies with regulatory standards.
  • Credit Analysis and Approval: Review and assess credit submissions, ensuring they meet underwriting standards and align with the bank’s risk appetite.
  • Financial Metrics Analysis: Establish and analyze key performance indicators for the loan portfolio to identify risks and enhance revenue, guiding strategic business decisions.
  • Third-Party Relationship Oversight: Oversee credit risk management for third-party relationships, creating policies and tools to evaluate emerging credit risks.
  • Team Leadership: Provide direction and support to Loan Operation teams, ensuring high performance and clear communication of expectations.
  • CECL Model Development: Lead the development and implementation of the Current Expected Credit Loss (CECL) model, providing quarterly assessments of loan loss allowances.
  • Regulatory Liaison: Serve as the primary contact for regulators during examinations, establishing credibility and ensuring compliance.
  • Team Development: Mentor and train lending staff, conducting periodic performance reviews to support professional growth.
  • Reporting and Analysis: Prepare management, regulatory, and Board reports on loan portfolio performance and trends.
  • System Improvements: Approve and coordinate enhancements to financial and management information systems related to loan operations.
Qualifications:
  • Education: Bachelor’s degree in finance or accounting from an accredited institution.
  • Experience: Minimum of 10 years in leadership roles within credit and risk management, focusing on both consumer and commercial lending.
  • Technical Skills: Proficient in Windows-based software, including word processing and spreadsheets, as well as banking software.
Key Competencies:
  • Strong leadership and management capabilities.
  • In-depth knowledge of banking regulations, policies, and lending procedures.
  • Expertise in developing and implementing lending policies.
  • Ability to communicate the organization’s credit risk appetite effectively.
  • Proficient in business cash flow analysis, collateral valuation, and documentation practices.
  • Excellent oral and written communication skills.
  • Proven analytical and management skills.

Vaco values a diverse workplace and strongly encourages women, people of color, LGBTQ+ individuals, people with disabilities, members of ethnic minorities, foreign-born residents, and veterans to apply.

EEO Notice

Vaco is an Equal Opportunity Employer and does not discriminate against any employee or applicant for employment because of race (including but not limited to traits historically associated with race such as hair texture and hair style), color, sex (includes pregnancy or related conditions), religion or creed, national origin, citizenship, age, disability, status as a veteran, union membership, ethnicity, gender, gender identity, gender expression, sexual orientation, marital status, political affiliation, or any other protected characteristics as required by federal, state or local law.

Vaco LLC and its parents, affiliates, and subsidiaries are committed to the full inclusion of all qualified individuals. As part of this commitment, Vaco LLC and its parents, affiliates, and subsidiaries will ensure that persons with disabilities are provided reasonable accommodations. If reasonable accommodation is needed to participate in the job application or interview process, to perform essential job functions, and/or to receive other benefits and privileges of employment, please contact HR@vaco.com .

Vaco also wants all applicants to know their rights that workplace discrimination is illegal.

By submitting to this position, you agree that you will be giving Vaco the exclusive right to present your as a candidate for the foregoing employment opportunity. You further agree that you have represented information about yourself accurately and have not affirmatively misrepresented your qualifications. You also agree to maintain as confidential, to the fullest extent permitted by law, any information you learn from Vaco about the position and you will limit disclosure of information about the position only to the extent necessary to perform any obligations in furtherance of your application. In exchange, Vaco agrees to exercise reasonable efforts to represent you through all solicitation, job screening and resume dispersal.

Privacy Notice

Vaco LLC and its parents, affiliates, and subsidiaries (“we,” “our,” or “Vaco”) respects your privacy and are committed to providing transparent notice of our policies.

  • California residents may access Vaco’s HR Notice at Collection for California Applicants and Employees here.
  • Virginia residents may access our state specific policies here.
  • Residents of all other states may access our policies here.
  • Canadian residents may access our policies in English here and in French here.
  • Residents of countries governed by GDPR may access our policies here.
Pay Transparency Notice

Determining compensation for this role (and others) at Vaco depends upon a wide array of factors including but not limited to:

  • the individual’s skill sets, experience and training;
  • licensure and certification requirements;
  • office location and other geographic considerations;
  • other business and organizational needs.

With that said, as required by local law, Vaco believes that the following salary range referenced above reasonably estimates the base compensation for an individual hired into this position in geographies that require salary range disclosure. The individual may also be eligible for discretionary bonuses.

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