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Senior Credit Risk Manager

2 months ago

Downers Grove, Illinois, United States Old Second Bancorp Inc Full time
Job Title: Senior Credit Risk Manager

At Old Second Bancorp Inc, we're seeking a seasoned Senior Credit Risk Manager to join our Special Assets team. As a key member of our leadership team, you'll be responsible for overseeing a commercial credit portfolio of distressed and underperforming loans.

Key Responsibilities:
  • Evaluate and propose credit risk ratings within assigned loan portfolio, developing action plans and tracking results.
  • Recommend risk rating upgrades or downgrades as appropriate.
  • Oversee 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, considering 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

This is 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.