AVP of Credit

3 weeks ago

Chicago, United States Renovo Financial Full time

Position: AVP; Credit

Renovo Financial is a rapidly growing Chicago-based private lender serving real estate investors who acquire and renovate single and multi-family residential properties. We pride ourselves on supporting clients by providing unparalleled service, from the loan application through the payoff. Renovo’s reliability and “win-win” solutions-oriented approach is just one reason why our repeat and referral rates far exceed the industry average. Renovo was honored to be named one of Crain’s 50 fastest-growing Chicago companies. Come join us, it’s a “win-win”.

Position Summary:

Renovo is looking to add an energetic, assertive, enthusiastic, AVP of Credit (“AVP”) to become a valuable part of the Company’s credit team. The AVP will work closely with credit analysts to review loan opportunities. The AVP will further work to mitigate risk within the organization by identifying process improvements and escalate identified risks when needed.


Role Responsibilities

Review, approve, and escalate identified risks on loans submitted for approval by the credit analysts. Identify key risks and proactively work to mitigate them to ensure the continued successful performance of Renovo’s loan book. Recommend re-structuring as needed

Thorough risk assessment to determine creditworthiness of borrowers will include, but is not limited to:

Reviewing construction budgets and coordinating with asset management

Evaluating project intensity relative to the borrower’s experience

Evaluating appropriateness of loan-level leverage for the given borrower, project, and location

Understand borrower’s historical performance and their ability to repay

Assessment of borrower’s documented financial position

Fosters a collaborative credit culture with early interaction between Credit Approval and the POD to identify core issues and structuring concerns, escalating to senior leadership as needed

Be a resource for Credit Analysts and Loan Officers on Renovo’s internal credit procedures and guidelines; ensuring adherence to policy when there are updates

Provides guidance for loan transactions to analysts and loan officers to improve/maintain structuring, understanding, consistency, customer service, and the overall credit approval process

Tackle market specific questions that arise during the underwrite, research solutions and form recommendations

Ensure data accuracy and that proper loan documentation has been provided to justify all credit decisions

Work cross-functionally with capital markets and other departments as it pertains to credit

Collaborates with Operations team to ensure process adherence and provide recommendations for improvements and to increase efficiencies as needed


Role Specifications:

Review and approve loans up to $500K for designated PODs

Pre-review loans >$500K and provide a recommendation for modification, rejection or approval to a VP or SVP of Credit


Ideal Candidate:

Bachelor’s degree and/or related experience of at least 5 years

Role is required to be in the office 2 days per week

Specific days agreed upon with your manager

Technically strong in both commercial and residential real estate concepts, credit risk, and financial analysis

Strong attention to detail

Leadership experience

Entrepreneurial spirit, proactive and strong ability to anticipate needs

Ability to work independently and handle non-routine situations with solutions-based problem solving skills

Ability to work effectively under deadline pressures, and adjust quickly and effectively to changing priorities

Ability to foster and cultivate relationships / thoughtful and forward thinking

Strong organizational, critical thinking skills with impeccable multi-tasking abilities

Articulate, poised, with a sense of urgency

Excellent verbal and written communication skills

Has excellent record keeping and organizational skills

Advanced technical literacy in Microsoft Office Suite, particularly Microsoft Excel


Behavioral Characteristics:

Self-Motivated: You take challenges on without waiting to be told what to do

Positive Attitude: You approach situations with a proactive and positive attitude

Determined: You stay on course even during difficult assignments and you crave opportunity for advancement

Team Player: You believe that to be successful you need to leverage and trust your team. You lead by example.

Openminded: Always seeks to find and develop creative solutions




Renovo Financial is an equal opportunity employer. Renovo Financial does not discriminate in any employment actions (including hiring decisions) with regard to race, color, religion, national origin, citizenship status, ancestry, age, sex (including sexual harassment), sexual orientation, gender identity and expression, marital status, disability, military status or unfavorable discharge from military service or any other characteristic protected by law.


Renovo offers a 401k plan with employer matching, paid time off, observance of company paid holidays, medical, dental, vision benefits for employees and their dependents, maternity benefits and more.

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