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Senior Credit Risk Manager

2 months ago

Downers Grove, Illinois, United States Old Second Bancorp Inc Full time
About the Role

At Old Second Bancorp Inc, we're committed to putting our customers first. As a Senior Credit Risk Manager, you'll play a critical role in overseeing our Commercial credit portfolio, identifying distressed loans, and developing strategies for recovery and loss mitigation.

Key Responsibilities
  • Evaluate and propose credit risk ratings within assigned loan portfolio; develop action plans, and track results.
  • Recommend risk rating upgrades or downgrades as appropriate.
  • Oversee the critical monitoring of credit risk and devise strategy and execution toward mitigation and resolution before deterioration accelerates.
  • Follow Credit risk policy in the application of loss mitigation and/or perform collections on loans in compliance with credit policies.
  • Develop workout strategies; consider borrower's repayment ability, collateral condition and value, and guarantor support.
  • Leverage and collaborate with business partners in Commercial Banking, Loan Operations, Legal, and Credit to support credit risk mitigation.
  • Serve as critical control for ensuring only acceptable risk levels are undertaken when assessing credits.
  • May serve in early due diligence of credit portfolio of acquisition banks.
  • Manage and/or delegate special projects assigned by the Chief Credit Officer or Commercial Banking Department Head.
Requirements
  • Bachelor's degree in Business, Finance, Accounting, or related field and seven or more years of progressive credit experience with increasing responsibility or equivalent combination of education and experience.
  • Broad based knowledge of credits including C&I, CRE, Sponsored Finance healthcare, leasing, or small business.
  • Previous experience in loan workout, managed assets, OREO management, collections and/or risk monitoring.
  • Experience working with a distressed portfolio of various size.
  • Previous managerial experience working with leadership at all levels including executive management.
Preferred Qualifications
  • MBA.
Work Arrangement

This position is considered a hybrid role. With management approval, an incumbent may work a combination of remote and onsite work to perform the regular responsibilities of the role. Opportunity for an onsite location at the Downers Grove, Chicago (Wacker) or Aurora offices. Actual schedule requirements may vary based upon business needs.