Senior Credit Risk Manager

7 days ago


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

At Old Second Bancorp Inc, we're seeking a seasoned professional to join our Special Assets team as a Senior Credit Risk Manager - Special Assets or Vice President / Senior Vice President, Distressed Credit Portfolio Management. This critical role will oversee a Commercial credit portfolio of distressed and underperforming loans, ensuring effective risk management and loss mitigation strategies.

Key Responsibilities
  • Evaluate and Propose Credit Risk Ratings: Assess and recommend credit risk ratings within assigned loan portfolios, developing action plans and tracking results.
  • Develop and Execute Workout Strategies: Create and implement strategies for recovery and loss mitigation, collaborating with Commercial Bankers as needed.
  • Monitor and Mitigate Credit Risk: Oversee critical monitoring of credit risk, devising strategies to mitigate and resolve issues before they escalate.
  • Comply with Credit Policies: Ensure adherence to credit risk policy in the application of loss mitigation and/or collections on loans.
  • Collaborate with Business Partners: Leverage and collaborate with Commercial Banking, Loan Operations, Legal, and Credit teams to support credit risk mitigation.
  • Ensure Acceptable Risk Levels: Serve as a critical control to ensure only acceptable risk levels are undertaken when assessing credits.
  • Support Due Diligence: May participate in early due diligence of credit portfolios of acquisition banks.
  • Manage Special Projects: Manage and/or delegate special projects assigned by the Chief Credit Officer or Commercial Banking Department Head.
Requirements
  • Education and Experience: 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.
  • Credit Knowledge and Experience: Broad-based knowledge of credits, including C&I, CRE, Sponsored Finance, healthcare, leasing, or small business, with previous experience in loan workout, managed assets, OREO management, collections, and/or risk monitoring.
  • Managerial Experience: Previous managerial experience working with leadership at all levels, including executive management.
Competencies
  • Financial Acumen: Strong understanding of financial statements, loan structuring, and credit risk.
  • Communication and Management Skills: Excellent communication skills (verbal/written) and management and data organization skills.
  • Hybrid Work Arrangement: Opportunity for a hybrid or remote work arrangement, with some local travel as needed.


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