Director - Internal Credit Review

FARMER MAC•Washington, DC

40d•$210,000 - $260,000•Hybrid

About The Position

The Internal Credit Review Director manages the internal credit review function that is designed to provide an independent method by which the Board of Directors, through the Credit Committee, can monitor and assess risk as well as the existence and adequacy of procedures and internal controls for Farmer Mac’s key credit processes. The Director will monitor and assess the adequacy of asset quality, compliance with credit policy, third party stakeholder policies and procedures, complex commercial credit products and services, counterparty risks related to the credit function, and compliance with related laws and regulations. The Director designs and implements an annual credit review plan to ensure the scope of credit review work fulfills the responsibility of the Internal Credit Review function. Written reports of results are provided to the Executive Vice President-Chief Risk Officer and other relevant senior management and to the Credit Committee and, when necessary, direct corrective action. Procedural changes are recommended as needed to ensure that internal controls achieve risk management objectives and adequately safeguard the enterprise. The Director will undertake special credit reviews at the request of the Credit Committee and will serve as a consultant to the EVP-Chief Risk Officer and other executive leadership on the establishment of necessary internal controls throughout the systems development process for mission critical systems or applications. The People You Will Work With The Director will report to the chair of the Credit Committee of the Board of Directors and administratively to the Executive Vice President - Chief Risk Officer. The Director will lead a distributed team of Internal Credit Review analysts and collaborate with other members of senior management. Where and When You Will Work The position will be based in Farmer Mac’s Washington, D.C. headquarters, the Johnston, Iowa location, or for the exceptional candidate, within the contiguous United States. Farmer Mac has a flexible Presence with Purpose work environment, which allows for flexibility of work location while providing the opportunity for teams to come together in the office with purpose may be applicable. Work outside of core hours may be required for planned and unplanned activities to complete time sensitive projects or to attend off-site meetings or events.

Requirements

Demonstrated knowledge of Generally Accepted Accounting Principles and Auditing Standards.
Demonstrated effective application of loan review and audit procedures to a variety of lending structures. Including, but not limited to, real estate secured, project finance, leveraged corporate lending, and syndications.
Familiarity with loan underwriting, collateral evaluation, lien perfection and documentation requirements for loans.
Thorough knowledge of accounting and understanding of business financial statements and income tax returns.
Thorough understanding of cash flow and financial analysis relating to individuals, businesses, and commercial real estate.
Working knowledge of federal regulatory compliance.
Demonstrated analytical, problem solving, and interpersonal skills.
Demonstrated ability to assist in the development of cross-functional relationships, and to balance team and individual responsibilities.
Proficiency in Microsoft Office suite.
Strong verbal and written communication skills to communicate effectively with customers, the EVP-Chief Risk Officer and other members of executive leadership, and the Credit Committee.
Periodic travel is expected of this position.
Bachelor’s Degree in Accounting, Finance, Business Administration, or related field.
A minimum of ten (10) years of progressively responsible experience within the financial services industry.

Nice To Haves

Master’s or CPA preferred

Responsibilities

Conduct an annual internal risk assessment to tailor the credit review plan to the risk profile of the enterprise. The credit review plan should identify potential review areas, assess the degree of inherent risks and propose the level of examination coverage. Perform additional targeted examinations where needed.
Ensure commercial strategies have been upheld in alignment with credit policies and procedures across all lines of business, including each operating segment (Farm & Ranch, Corporate AgFinance, Power & Utilities, Broadband Infrastructure, and Renewable Energy).
Oversee design of testing for relevant processes, procedures, and key controls.
Conduct regular, scheduled electronic and field loan reviews for loan quality, risk assessment, documentation, regulatory compliance, data integrity, and compliance with internal loan policies and procedures.
Identify problem loans, underwriting weaknesses, and loan servicing deficiencies. Identify the cause and recommend actions to correct underlying weaknesses. Be cognizant of early warning signs that may be indicators of credit deterioration and adjust workflow to focus on the most significant issues.
Conduct post-closing reviews of loans to ensure compliance with established underwriting policies and procedures.
Assign a credit risk rating to each loan reviewed in accordance with Internal Credit Review policies and procedures. Evaluate the effectiveness of the internal risk rating processes.
Oversee administration of Loan Review software platform for appropriate review scoping, line sheet construction, and post review reporting and issue tracking.
Validate data provided by various Farmer Mac resources to ensure accuracy of information in the Loan Review software.
Evaluate resource needs and work with the EVP-Chief Risk Officer and the Credit Committee to ensure that needs are addressed through either internal or external contracted sources.
Contract and provide oversight with third party service providers as required.
Author/review all internal credit review work product (in-house and third-party service providers) and written reports.
Present completed reports and findings to the EVP-Chief Risk Officer and the Credit Committee.
Evaluate and follow-up on management responses and corrective action plans.
Evaluate the business culture for positive change in internal control recommendations.
Coordinate planning and test work with Internal Audit, independent auditors, the Farm Credit Administration, and management.
Lead, develop, and mature a team of credit review analysts.