Senior Credit Risk Manager

4 hours ago


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

Old Second Bancorp Inc is seeking a highly skilled Senior Credit Risk Manager to join our Special Assets team. As a key member of our team, you will be responsible for overseeing a commercial credit portfolio of distressed and underperforming loans, identifying early signs of credit risk, 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 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 a combination of remote and onsite work. Opportunity for an onsite location at the Downers Grove, Chicago (Wacker) or Aurora offices. Actual schedule requirements may vary based upon business needs.



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