Job Description

Korn Ferry has partnered with our client on their search for the role, Chief Lending Officer.

Purpose of the Position

The CLO is responsible for the quality underwriting and adjudication of all new loan requests and the ongoing primary risk management of the Bank's loan portfolio. The CLO shall utilize their advanced credit and lending skills to support the Banks growth and contribution to profit of the organization in a safe and sound manner. The CLO provides direct oversight of loan underwriting, and credit decisioning process. This includes review of credit structure, loan participant, financial analysis, prescreening of loan requests. The CLO will also be called upon to support Business Development Officers (“BDO’s), that are located nationally, in regard to business development efforts, prospect calls, negotiating loan terms, etc. The Eight BDO’s conduct 50 – 70 client prospect events nationally. The CLO must be able to perform overnight travel to attend 8 – 10 such events annually to support the Bank’s business development efforts.

Key Responsibilities

The Chief Lending Officer ("CLO") will be the driving force behind the continued, aggressive, and sustained growth of the company. The ideal candidate will be a proven strategic leader with extensive loan production, credit/financial experience, and possess the ability to lead and develop the lending staff. This role will manage the overall credit risk of the principal loan portfolios through effective planning, credit review, operational policies, plans and initiatives in conjunction with the President/CEO, Chief Risk Officer, Product Development, Loan Committee and the entire leadership team. This position will emphasize the Bank’s market leading strategy lending to contingency fee-based law firms and to a lesser extent, Commercial Real Estate lending in the tri-state region, primarily to multi-family, industrial, and warehouse type properties. The role requires extensive knowledge of commercial lending, portfolio management, regulatory compliance and risk management.

• Acting as the bridge between the Bank’s senior leadership and lending / credit staff, ensure the Bank’s strategic vision and culture is consistently demonstrated, communicated, understood and acted upon.
• Is the primary liaison between bank and its auditors, examiners, and regulators. Specifically, as it relates to the OCC Safety and Soundness/ Asset Quality examinations, Community Reinvestment Act Examinations, and Loan Reviews provided by the Bank's designated provider.
• Responsible for the coordination of the Bank's Directors Loan Committee, including review of all material to be presented as well as review and publication of meeting minutes.

The Candidate

Key Responsibilities

• Responsible for approving loans within designated credit authority and monitoring loans to ensure credit quality, formulation of credit & loss reserve policy, and administration of Bank policies, procedure and business goals.
• Responsibility as a Chair of the Asset Management Committee. This includes but is not limited to the coordination of the required meetings as well as reviewing the material to be presented for content and accuracy, and alignment with the team’s recommendations. Publish AMC minutes and ensure alignment with RMR risk ratings and commentary.
• Encourage and ensure a seamless level of interaction among lending / credit staff with all other Bank functional teams.
• Lead by example with regards to high quality client interactions and respect for team-mates at all times. Disruptive behavior and poor attitude will not be tolerated.
• Review portfolio economics, trends, and performance metrics and prepare periodic updates for executive leadership and board of directors.
• Must be able and willing to learn the Bank’s systems and processes from the ground up. Specifically, become fluent in the Bank’s underwriting systems and methods to achieve expert knowledge of all staff functions.
• Act as the “chief relationship builder” among the credit and lending staff and all other functional areas of the Bank. Lead by example and hold all team members to a high level of expectation with regards to communication and cooperation across the Bank.
• Ability to adapt to rapidly changing business needs which occur due to the Banks rapid growth. Practically this translates into the ability to support projects and participate in collaborative teams spanning all Bank functions.
• Strategic ability to grow an organization through goal identification, articulation, persuasion, and execution.
• Frequent interaction with the Executive Leadership on key credit decisions involving current and prospective lending customers and opportunities, respectively, in accordance with the Bank's lending policy, procedures and/or protocol.
• Assist in the development of new lending verticals, products, and processes as well as staff hiring and training.
• Set guidelines and policy related to the accurate and timely servicing of the loan portfolio, including loan documentation.
• Develop, with other members of the senior management team, long term strategy for initiatives such as portfolio concentration, growth strategies and market concentration.
• Develop, oversee, and review all monthly and quarterly management and board reports including, but not limited to, Loan Risk Management Report. The CLO shall also provide input to the ALLL, Stress Testing and Interest Rate Risk Reports as needed.
• Primarily responsible to maintain and update the Banks Community Reinvestment Act plan and ensure timely submission and review by the Office of the Comptroller of the Currency, Track and coach participation of qualifying community investment activities of Bank staff to ensure the required level of participation to achieve or exceed stated plan goals.
• Responsible for the establishment, maintenance and monitoring of internal controls and compliance of board policies, state statutes and government regulations, especially adhering to regulatory guidance and federal and state laws.
• Control bank quality, ensuring policy and guidelines are followed consistently by personnel, implementing best practices in lending and credit administration across the organization and promoting that culture.
• Responsible for growing the team and supervising the activities of subordinates in credit review, appraisal review, risk management and commercial/consumer lending roles. ▪ Recommend allocations to the loan loss reserve, analyzing economic conditions, loan losses and trends and working toward corporate goals.
• Perform assigned tasks effectively to ensure regulatory compliance and adequate risk management.
• Maximizing portfolio growth through effective planning, development, and implementation of lending strategies.
• Responsibility to resolve problem credits to protect the assets of the Bank.
• Monitor and manage the Bank's overall credit risk and ensure accurate and timely risk ratings.
• Oversee and provide active management of the Bank's credit analysis function,
• Ensure maintenance of the Banks risk tolerance and credit standards.

The Candidate

Experience and Professional Qualifications

• 15+ years' experience in commercial lending and risk management.
• Demonstrated track record preparing, leading, and effectively managing regulatory audits, preferably by the Office of the Comptroller of the Currency (“OCC”).
• Polished and professional with strong presence and confidence; engages audience, prioritizes for desired outcome; ability to make decisions; excellent time and management skills; hands on senior manager with clients and staff.
• Flexible with an ability to adapt to changing priorities while working at a fast pace with accurate outcomes.
• Self-motivated with strong work ethic; takes ownership of actions and responsibilities while pursuing objectives with energy and drive.
• Knowledge of the banking industry procedures, workflow and regulatory requirements at a state and federal level.
• Understanding of various commercial credit structures, including participations, intercreditor arrangements, bankruptcy proceedings, and collateral protection. Knowledge of Asset Based Lending and associated structures is desired.
• Experience managing lending portfolios consisting primary of commercial credit exposures and to a lesser extent, Commercial Real Estate.
• Excellent communication (written, oral and computer) and interpersonal skills are needed to work effectively within all levels of management throughout the organization as well as with customers.
• Experience working with a Board of Directors and Executive Leadership.
• Ensure that all activities are performed in compliance with the federal, state and Bank Secrecy Act regulatory requirements.
• Bachelor’s degree in business, Finance, Marketing or similar; MBA equivalent work experience preferred.

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