Credit Risk Review Director

Eastern Bank

1d•Remote

About The Position

The Credit Risk Review Director provides the Bank with an independent mechanism for early detection of loan problems, assurance of accurate loan ratings, independent assessment of CECL data, monitoring of compliance with policies, procedures, and regulations, and assurance of proper portfolio administration. The Director plans, executes, and reports on credit risk across Eastern Bank’s loan portfolios, independently assessing risk and advising on mitigation. The role oversees the Risk Plan and reviews of commercial loans and commitments, including syndicated and participated loans, commercial and industrial lending, commercial real estate entity-level finance, franchise lending, renewable energy, security alarm, low-income housing tax credit investor financing, and New Markets Tax Credit deals. The Director also oversees credit-risk reporting, staff development and supervision, governance and policy maintenance, special projects, and process improvements. The position is assigned to the Lynn office, which is moving to Wakefield, Massachusetts later in 2025, and can work in a remote environment. Travel is limited.

Requirements

Bachelor’s degree and formal credit training.
15 or more years of experience as a safety and soundness regulator, credit risk review officer, commercial loan relationship manager, or commercial loan underwriter.
Strong working knowledge of risk and/or credit risk management and control frameworks.
Strong knowledge of applicable laws, regulatory requirements, and compliance rules.
Expert knowledge of commercial lending and credit analysis, with extensive experience in corporate, syndicated, and leveraged loans.
Technical financial statement analysis knowledge, sound credit judgment, and understanding of complex commercial legal documentation.
Ability to present well-formed, supported opinions on processes, procedures, and credit risk conditions to senior business management.
Ability to prioritize and organize assignments and meet strict deadlines.
Project management skills, including developing project plans, budgets, and deliverable schedules, and delivering high-quality results on time.
Team leadership skills, including creating a positive environment, monitoring workloads, respecting team members’ work-life quality, providing timely and meaningful feedback, and keeping leadership informed.
Proficiency with Microsoft Word and Excel and willingness or ability to learn new software.
Strong verbal and written communication skills.

Responsibilities

Plan, execute, and report on credit risk across the Bank’s loan portfolios.
Oversee execution of the Risk Plan, including continuous, targeted, and horizontal reviews of commercial loans and commitments.
Classify loans, identify potential credit problems, and monitor adherence to Bank policies, regulations, processes, and procedures.
Ensure Risk Plan work is completed effectively and efficiently within budget and timelines; participate in strategic planning, remediation monitoring, and risk oversight activities, including Risk Management Committee meetings.
Recommend policy and procedural changes to executive management and business lines to correct deficiencies and strengthen the credit process.
Identify emerging issues and trends, participate in exit meetings, and work with business lines and Bank colleagues on portfolio reviews.
Maintain expert knowledge of Bank credit policies and procedures to assess adherence during reviews.
Oversee high-quality reviews with minimal business disruption, identify necessary corrective actions, and ensure corrective action is taken.
Oversee timely and accurate completion of Commercial Management, Resolutions, Findings, Exceptions, Scopes, Mortgage Quality Assurance, and Consumer Credit Risk Review reports; oversee annual Fannie Mae and Freddie Mac certification reporting.
Stay informed about credit products and structures, industry trends, and regulatory changes, and provide guidance and oversight to staff.
Supervise team members, including interviewing, hiring, coaching, training, performance evaluations, workload planning, addressing concerns, and resolving problems.
Develop credit risk review staff so their skills match the size and complexity of the Bank’s loan portfolio.
Maintain the Commercial Credit Risk Review, Mortgage Quality Assurance, and Consumer Credit Risk Review policies.
Develop and maintain knowledge of business risks and related risk management requirements, regulatory directives, and guidance.
Identify, develop, and administer credit risk control framework activities; research requirements and best practices and recommend policy or framework enhancements.
Assist in interpreting new or changing regulations and assessing their impact on governance frameworks.
Conduct confidential due diligence reviews of potential acquisition or merger institutions; plan resources, oversee budgets, and provide monthly ACD reporting.
Participate in special projects and monitor the Control Design Process for SOX controls.
Identify workflow constraints and recommend process improvements to increase productivity.
Manage multiple engagements and projects, and engage in difficult conversations with senior business leaders, relationship managers, executive management, and Risk Management Committee members.