Deputy Chief Credit Officer

Central Minnesota Credit Union • Sartell, MN

409d

About The Position

The Deputy Chief Credit Officer is responsible for overseeing the credit function within Magnifi Financial, ensuring the quality of the loan portfolio aligns with the organization's vision and lending philosophy. This role involves providing leadership in loan origination, policy formulation, credit underwriting, and managing special assets and collections. The Deputy Chief Credit Officer collaborates with the Chief Credit Officer and executive management to maintain high standards of credit quality and risk mitigation.

Requirements

• Bachelor's degree in business, accounting, economics or equivalent.
• 15+ years progressively responsible supervisory/management credit experience in a larger financial institution.
• 10+ years in business agricultural lending and SBA Lending, or equivalent knowledge and skills gained through a minimum of 15 years related work experience.
• Executive management experience and MBA desired but not required.
• Formal training in credit is preferred (i.e. initial and continuing training, industry designations, CRCM).

Nice To Haves

• Executive management experience
• MBA
• Formal training in credit (i.e. initial and continuing training, industry designations, CRCM)

Responsibilities

• Assists in directing and overseeing the administration of the loan portfolio from a credit quality and risk mitigation perspective.
• Makes recommendations on loan and collections policies, underwriting standards, and internal procedures.
• Provides broad functional and strategic guidance in all loan underwriting activities.
• Analyzes financial, credit, and operational risks with business partners and members.
• Determines solutions that mitigate or avoid risks.
• Ensures loan portfolio and policies are reviewed and modified as necessary.
• Provides oversight and direction to the construction management group.
• Provides oversight and direction to the Commercial Document Prep area.
• Oversees staff responsible for ensuring that the credits adhere to existing credit policy and guidelines and applicants are deemed credit-worthy.
• Formulates and recommends policy and procedure changes as it relates to Credit.
• Exercises individual loan authority as appropriate.
• Serves as a voting member on Loan Committee and participates in various committee meetings as needed.
• Serves as Chairman of the Officers Loan and the Credit Committee in the absence of the Chief Credit Officer.
• Recommends lending authority and the delegation of lending authorities for loan officers.
• Responsible for ensuring credit and loan policies, procedures, and standards are adhered to.
• Monitors and manages credit risk, including credit concentrations, problem credits, and loan watch lists.
• Reviews larger or complex credit presentations prior to submission to Loan Committee.
• Establishes, implements, and manages administrative and review systems and procedures to protect the quality and profitability of the loan portfolio.
• Facilitates change management initiatives related to credit.
• Organizes security and disaster recovery activities for the Credit area.
• Interfaces with regulators and supervisory agencies on credit-related matters.
• Researches and recommends efficient technology solutions.
• Oversees management of the loan underwriting system including design, maintenance, upgrades, and customization.
• Reviews and makes recommendations to Magnifi Financial Risk Rating system.
• Works in collaboration with Magnifi Financial management and staff to meet the goals and objectives of Magnifi.
• Participates in work groups and/or committees.
• Assists in the training and mentoring of the Credit Analyst staff and consults with Lenders on appropriate loan structures.
• Selects, oversees, develops, trains, and manages the performance and compensation of the Credit Officer, Commercial Document Supervisor, and Construction Loan Servicing Specialist.
• Supports the strategic planning process through departmental planning and participates in organizational level strategic planning.
• Develops and manages the budget and the monthly rolling forecast that impacts the overall success of the organization.
• Strategically analyzes and maintains advanced knowledge and awareness in economic, market, and industry trends.
• Provides leadership to community relations efforts, serving as a key ambassador for Magnifi Financial.

Benefits

• Opportunities for Training and Development
• Leadership Development
• Job Level Advancement
• Tuition Reimbursement
• 32 Hours Volunteer Paid Time Off
• Paid Time Off - starting at 4 weeks per year for FT; prorated for PT
• Medical
• Dental
• Vision
• Employer paid Life Insurance/AD&D
• Employer paid Disability Insurance
• Retirement Plan - Employer match up to 4%, eligible for annual profit sharing
• Paid Parental Leave
• Bonus/Incentive Program
• Health and Wellness Programs

What This Job Offers

• Job Type: Full-time
• Career Level: Executive
• Industry: Credit Intermediation and Related Activities
• Education Level: Bachelor's degree
• Number of Employees: 251-500 employees