Chief Credit Officer

Sovereign Bank • Oklahoma City, OK

6d

About The Position

The Chief Credit Officer (CCO) is responsible for overseeing the bank’s credit risk management, loan portfolio quality, and compliance with regulatory standards. The CCO will lead the credit department, ensuring sound credit policies, risk assessment, and strategic alignment with the bank’s goals for growth and financial stability.

Requirements

• Excellent verbal and written communication and presentation skills for engaging with staff, executive leadership, and regulators and third-party vendors.
• Deep knowledge of commercial and consumer lending, credit analysis, and risk management
• Advanced understanding of related federal and state lending and compliance regulatory requirements
• Ability to assist in designing appropriate credit structures for complex credit requests.
• Proven leadership and team management skills, with a history of building and maintaining high-performing teams.
• Excellent analytical, decision-making, and problem-solving abilities.
• Strategic thinker, detail-oriented, and able to balance risk and growth objectives in a dynamic environment.
• Bachelor’s degree in finance, Business Administration, or a related field; MBA or advanced degree a plus.
• Minimum of 10 years of progressive experience in credit risk management, with at least 5 years in a senior leadership role within a financial institution of comparable size ($1 billion+ in assets).

Responsibilities

• Credit Risk Management: Develop, implement, and oversee comprehensive credit risk policies, procedures, and strategies to maintain the bank’s asset quality and mitigate potential losses.
• Loan Portfolio Oversight: Monitor and manage the bank’s loan portfolio, ensuring diversification, credit quality, and alignment with risk appetite.
• Policy Development: Establish and update credit policies, underwriting standards, and loan approval processes to ensure compliance with federal and state regulations.
• Leadership: Lead, mentor, and develop a team of credit analysts, and underwriters to foster a culture of accountability, collaboration, and excellence.
• Risk Assessment: Evaluate and approve loan applications, ensuring thorough analysis of borrower creditworthiness, collateral, and repayment capacity.
• Regulatory Compliance: Ensure adherence to all regulatory requirements, including those set by the FDIC, OCC, and other governing bodies, while preparing for audits and examinations.
• Reporting: Provide regular reports to the CEO, Board of Directors, and Audit Committee on credit portfolio performance, risk exposures, and emerging trends.
• Strategic Planning: Collaborate with senior leadership to align credit strategies with the bank’s growth objectives, market conditions, and economic outlook.
• Problem Loan Management: Oversee the identification, monitoring, and resolution of non-performing loans, including workout plans and loss mitigation strategies.
• Stakeholder Engagement: Build and maintain relationships with key stakeholders, including regulators, auditors, and external partners, to support the bank’s credit objectives.
• Maintain excellent communication with Chief Executive Officer, Chief Lending Officer, lenders and other staff.
• Collaborate with Chief Financial Officer on CECL calculations.
• Oversee bank efforts in corresponding with bank examiners and other third-party loan review vendors relating to loans and lending issues.
• Oversee Executive Loan Committee and Special Asset Committee meetings.
• Direct and coordinate problem loan workout discussions with lenders and customers as needed.
• Develop and maintain knowledge of lending industry, economy, and market conditions.
• Oversee the bank’s real estate appraisal process.
• Oversee the bank’s commercial loan construction monitoring process.

What This Job Offers

• Job Type: Full-time
• Career Level: Executive