Senior Credit Risk Officer

$165,000 - $230,000/Yr

Live Oak Bank - Wilmington, NC

Full-time - Senior

Wilmington, NC

Credit Intermediation and Related Activities

About the position

The Senior Credit Risk Officer will be responsible for overseeing various aspects of credit risk management within the organization. Areas of functional responsibility include model ownership, development and enhancement of Credit Policy, leadership related to regulatory and audit examinations, and oversight of complex projects with ownership of results.

Responsibilities

• Model ownership for Current Expected Credit Losses (CECL)/Allowance for Credit Losses (ACL) model including quarterly updates to the bank's life of portfolio loss estimate.
• Oversee quarterly Credit Watchlist meetings including determining thresholds for presentation and review.
• Model Ownership of the Credit Risk Rating model, including developing, assessing, and adjusting scorecard factors.
• Serve as primary point of contact with regulatory and third-party audit/validation partners.
• Management of Credit Policy and Procedures, including developing and updating policies to address new lending products.
• Develop remediation and related process implementation as a result of audit or validation findings.
• Work closely with software/product development teams to ensure accuracy of reporting.
• Initiate and lead complex projects within the Credit organization related to risk management.
• Review and adjust language in regulatory reporting including the Bank's 10Q filings.
• Regularly communicate actionable credit insights to the bank's Executive Leadership team and Board of Directors.
• Proactively self-identify potential risks or control deficiencies and work with Risk and Internal Audit teams.
• Serve as a thought leader within day-to-day and project-based workflow.

Requirements

• Relevant undergraduate degree (business, finance, statistics, mathematics, data science, etc.)
• 5+ years of experience in Credit Risk including overseeing Credit Models.
• Experience in the regulatory body of work that addresses Credit Risk and Credit Models.
• Experience in Excel, Python, or other tools for statistical and data analysis.
• Able to communicate effectively with the Senior Leadership Team and the Bank's Board of Directors.

Benefits

• Base pay range of $165,000.00 - $230,000.00 per year.
• Compensation may include annual bonuses and long-term incentives.
• Paid sick leave for employees in states that require employer-paid sick leave.