Chicanos Por La Causa, Inc.
Sr. Credit Officer
Work Location: Phoenix, AZ
The Senior Credit Officer is responsible for oversight of credit policy and procedures, credit analysis and quality assurance, underwriting and portfolio management. This includes effectively managing the quality of Prestamos small business loan and New Market Tax Credit portfolios by ensuring adherence to Prestamos Credit Policy, strong underwriting and diligent portfolio quality review. Additionally, the SCO is responsible for, credit analysts, portfolio manager, and servicing staff and daily operational functions necessary to support the loan portfolio.
- Demonstrated understanding of loan underwriting structures, pricing and processes as they relate to the funding of small business loans for business start ups and ongoing business entities
- Must have thorough knowledge of financial accounting theory and logic and loan structuring.
- Must be able to communicate information and concepts clearly, both orally and in writing; ability to interpret and discuss analytical data.
- Technical skills should include proficiency in MS Office (Word and Excel in particular) as well as a familiarity with Microsoft Outlook and loan portfolio software systems
- Must have an understanding of GAAP principles and auditing practices
- Must have a working knowledge of SBA lending programs. New Market Tax Credit financing knowledge, a plus
- Minimum of a Bachelors Degree in finance, management or comparable business administration or related discipline, or combination of education and experience.
- Minimum of 10 years relevant work experience with demonstrated track record of loan credit risk and strong workout expertise and experience with high emphasis on transactions
- Possess a clear understanding of both micro- and small business loan underwriting guidelines
- Minimum of 2 years of experience working with a Community Development Financial Institution in comparable position
- A thorough knowledge of financial statement analysis, forecasting models, cash flow budgets, collateral analysis, appraisal standards and payment performance of loans.
JOB RESPONSIBILITIES AND COMPETENCIES
- Responsible for the credit policies and its compliance with the applicable regulations and laws, credit risk, product and program management
- Monitor and track all underwriting activity to ensure underwriting guidelines and regulations are being adhered to, and information is analyzed and completed within established timelines
- Assist with the monitoring of loan performance in the Prestamos portfolio and ensure loans are appropriately Risk Rated and adequately reserved
- Prepare necessary board reports
- Review and recommend loan requests for approval submitted by BDO/ loan analysts within delegated authority limits
- Manage Loan Committee meetings, including developing the agenda, overseeing credit presentations, and portfolio performance reviews
- Ensure compliance of all approved terms and conditions of a loan
- Review all legal documentation prior to loan closings and authorizing the file as clear-to-close
- Examine files for credit assurance and collateral documentation
- Conduct second-level annual review of all credits with outstanding balances over $100,000
- Approve short-term loan payment adjustments within delegated authority limits
- Identify problematic loans and manage workouts
- Negotiate, recommend and discuss workout and or liquidation strategies to minimize loss to the Prestamos and to maximize recovery
- Monitor loan covenants for compliance borrower and funder
- Portfolio monitoring and review loan tracking, and risk management activities, including, but not limited to, analyzing portfolio trends and identifying portfolio risk by interpreting data on payment trends, borrower financial ratios, pricing, economic influences, and other factors affecting the portfolio
- Set goals/strategies for payment resolution of impaired loans; manage external efforts to achieve
- Manage liquidations of collateral
- Manage Loan Loss Reconciliation in coordination with the Accountant
- Generate and lead monthly Portfolio Quality Review with Vice President and BDOs
- Updates job knowledge by participating in educational opportunities; reading professional publications; maintaining personal networks; participating in professional organizations.
- Document and report on lending relationships' status and quality.
- Direct due diligence and portfolio assessment practices, evaluating work.
- Investigate and understand discrepancies, problems, and unusual situations.
- Analyze financial information to determine credit quality, approve credit, and document risk factors.
- Develop and document risk mitigation standards and processes.
- Client Focus - Dedicated to meeting the needs of internal and external clients; listens effectively and establishes and maintains relationships and gains clients trust and respect.
- Ethics, Integrity and Trust - Considers ethical issues before decisions are made and seeks to achieve results that are in the best interest of CPLC and Prestamos CDFI, LLC.
- Ownership, Accountability, Responsibility and Compliance - Takes ownership of tasks, projects, and relationships and follows through on obligations and promises.
- Self Development and Learning - Personally committed to learning and actively works to continuously develop professionally.
- Teamwork and Collaboration -Works collaboratively; finds common ground and solves problems for the good of all and can represent his/her own interests and yet be fair to the team.
INDIVIDUAL CONTRIBUTOR COMPETENCIES:
- Goal-Oriented - Proceeds with projects and programs while constantly keeping the goal in mind. Translates general goals into practical achievable objectives. Identifies outcomes that are attainable, measurable, specific and time-focused. Measures progress toward goals. Revises goals based on available resources or priority changes.
- Decision Making and Problem Solving -Makes decisions in a timely manner, uses a mixture of analysis, experience and judgment to solve difficult problems with effective solutions.
- Informing and Communicating - Proactively communicates information to colleagues up, down and across the organization, provides updates on projects, tasks and potential roadblocks.
- Planning - Accurately scopes out length and difficulty of tasks and projects and sets objectives and goals
- Time Management - Uses his/her time effectively and efficiently; values time; concentrates his/her efforts on important priorities and completes tasks and/or projects on time.
- Strong organizational and interpersonal skills
- Ability to interpret and discuss analytical data
- Ability to communicate clearly and effectively both verbally and in writing.
- Ability to present operational information to personnel at all levels.
- Ability to work well as a team member
- Ability to juggle several tasks and prioritize
Employee will be expected to participate in continuous learning, competency building and maintenance of competency skills.
TYPICAL WORKING CONDITIONS
Work is performed in structured environments.
Reports to and is supervised directly by the Vice President. Employee is also accountable for understanding and complying with CPLC policies and procedures.