Credit Operations Job Description
Credit operations
provides guidance to sales, order management, customer financial service, operations, and general management on credit goals, objectives, processes, procedures. Ensure compliance with all applicate statutes and regulations and acts as a SME for the Compliance / Audit partners. Collects and analyzes complex credit reporting data for deficiencies and implements processes to ensure data is corrected. Implements and executes monthly quality reviews to ensure the internal process is in compliance with FCRA (Fair Credit Reporting Act).
Credit Operations Duties & Responsibilities
To write an effective credit operations job description, begin by listing detailed duties, responsibilities and expectations. We have included credit operations job description templates that you can modify and use.
Sample responsibilities for this position include:
Oversee Monetary transaction procedures as it relates to the loan products including ACH / Wire / check processing
Manage, coordinate and direct the daily operations of non-exempt staff members, assigning their work and setting workflow priorities, introducing them to new procedures and tracking their performance
Ensuring procedures are properly followed
Create an inclusive working environment that engages employees while managing day-to-day performance functions
Ensure employees are adequately trained to perform their job duties and provide cross-function support of their peers
Provide leadership and coordinate the 3rd party oversight processes to ensure vendor’s performance meets expectations
Manage the Operational Risk Management functions for the loans
Provide MERS CRMS oversight and Management
Provide BCP support for designated areas of focus
Credit Operations Qualifications
Qualifications for a job description may include education, certification, and experience.
Licensing or Certifications for Credit Operations
List any licenses or certifications required by the position: SOX, WLO, CPA, LSS, AML, TQMI
Education for Credit Operations
Typically a job would require a certain level of education.
Employers hiring for the credit operations job most commonly would prefer for their future employee to have a relevant degree such as Bachelor's and Collage Degree in Business, Finance, Accounting, Education, Economics, Business/Administration, Management, MBA, Communication, Associates
Skills for Credit Operations
Desired skills for credit operations include:
With ability to identify inadequacies and irregularities
Effort to facilitate smooth trade management processes
Procedures
Accounts receivable and inventory reports
Firm’s
Similar financial institution’s Credit Policy
Bank Loans and financial industry operational work flows
Bank systems and loan/credit operations needed
PSCU solutions offerings and service applications
Understand which applications/solutions will best support change requests
Desired experience for credit operations includes:
Coach to ensure credit issues are handled appropriately, and participate in the negotiation and resolution (including escalation) of deals
Maintain good relationships with partners and others as necessary, including responding to questions and concerns
Must be willing to work out of an office in Norwalk, Chicago, or Salt Lake City
Minimum 2 years Commercial ALLL experience
Provide strategic and tactical implementation expertise
Provide direction and recommendation on staffing
Credit Operations Examples
1
Credit Operations Job Description
Job Description Example
Our company is looking to fill the role of credit operations. If you are looking for an exciting place to work, please take a look at the list of qualifications below.
Responsibilities for credit operations
- Process Interest Rate Derivative trade activity requiring paper confirmations
- Liaise with Traders, Marketers, Credit, and Legal to produce/review confirmations for structured deals
- Produce and monitor metrics and generate reports for Senior Management
- Review and suggest modification of established policies, maintain issues log and manage multiple projects based on monthly data integrity issues and partner back office processes
- Use bank loan system (Eclips and Exposure Now) to research loan balances, and principal and interest payments
- Collaborate/Interface with multiple Credit Card Vendors for credit card related projects, report requests, ID updates, production issues and testing
- Work independently to initiate and monitor Enterprise and BU specific operational metrics by comparing and evaluating various reports and ad-hoc data for discrepancies, determining resolution and taking action toward resolution
- Provide credit card operations subject matter expertise for brain storming, requirements, acceptance testing and production approval for projects impacting credit card processing
Qualifications for credit operations
- 5-7 years relevant mortgage, loan servicing experience
- Possess and intimate knowledge of intercompany department functions as they relate to loan servicing
- Experience with ASK procedure processes
- NMLS License - Must be able to obtain within a defined period of time
- Operations experience of end to end process
- To manage workflow for tasks, queries, and issues using various Credit owned systems
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Credit Operations Job Description
Job Description Example
Our company is searching for experienced candidates for the position of credit operations. Please review the list of responsibilities and qualifications. While this is our ideal list, we will consider candidates that do not necessarily have all of the qualifications, but have sufficient experience and talent.
Responsibilities for credit operations
- Provides deep knowledge and experience of Commercial banking products and services to ensure a positive client experience
- Responsible for efficient and effective co-ordination and service delivery of Commercial credit transactions - security, documentation as applicable
- Acts as advocate for the client experience using resources and analytical techniques to investigate and evaluate complex issues which may be outside of policy/process/procedural guidelines in order to satisfy the client needs/client escalation, as applicable
- Works on several bank applications, synergy, CMS, OLBB, Covarity, e-mail
- Responsible for the creation of a highly engaged and motivated team, with a customer and service-oriented work culture, focused on ensuring timely delivery of high quality work
- Monitor credit quality targets and adherence to turn time goals
- Responsible for creating a strong trusting partnership with all stakeholders - local and domestic
- Responsible for his/her team’s audit preparedness and success
- Performing daily cash reconciliations in order to monitor trade breaks and fails, track corporate action activity and to ensure our cash balances are accurate
- Acting as a liaison with the trading desk with the prime broker client service representatives and the executing brokers to ensure the timely settlement of credit instruments which include Loans, CDS and IRS
Qualifications for credit operations
- Or auto applications
- The successful candidate will be responsible for completion of reconciliations and root cause investigation in addition to reconciliation related project work and testing
- French, Spanish, Italian, German languages a plus
- University Degree or Equivalent Post-Secondary Education preferred
- Minimum 4-5 years commercial underwriting experience
- Ability to work and lead a team environment
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Credit Operations Job Description
Job Description Example
Our innovative and growing company is hiring for a credit operations. We appreciate you taking the time to review the list of qualifications and to apply for the position. If you don’t fill all of the qualifications, you may still be considered depending on your level of experience.
Responsibilities for credit operations
- Liaise with Credit Advisors, Credit Underwriters and provide outstanding support to the credit business
- Maintaining accurate data in the internal credit systems
- Develop an in-depth understanding of the PB Credit business workflows and system functionalities
- Provides ongoing coaching for Commercial Account Managers as required and applicable to ensure credit and operational risks and workflow processes are understood and followed
- Assist in managing the credit event cycle for different types of events from inception to the event being processed
- Evaluate and review Inclusion lists on potential and confirmed names sent to various desks and business lines
- Compile Net Positions and sign offs for the ISDA protocol auction
- Assist in managing the Protocol and Non Protocol auctions
- Understand key risks and associated control points on the event lifecycle
- Extensive liaison with legal, finance and trading
Qualifications for credit operations
- Identify and pursue opportunities that reduce losses drive operational efficiency
- Develop segmentation, optimize treatment & channels, develop operational strategies for Collections, Recoveries
- Create & Drop tests and analyze Test/Control results and make roll-out recommendations
- Support and drive delivery of actionable analytics and reports to generate strategic ideas & opportunities
- Foster and maintain collaborative relationships with internal & external business partners and technology teams - ensuring goals and customer satisfaction are achieved
- 5+ years of experience in Financial Services, Business Analytics/Strategy, Risk Management/Collection or other financial related industry with strong emphasis on analytical experience
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Credit Operations Job Description
Job Description Example
Our innovative and growing company is searching for experienced candidates for the position of credit operations. If you are looking for an exciting place to work, please take a look at the list of qualifications below.
Responsibilities for credit operations
- Maintains policies and procedures for the department
- Provide strong leadership and effective management of functional areas under direct control and support for all other areas of the Dealer Finance and risk Management department to achieve performance objectives
- Define, implement or improve dealer-focused processes to streamline and maximize dealer service and organizational efficiency and productivity
- Ensure active two-way communications with other VCE business functions to share important dealer information, best practices and gain cross-functional knowledge and support to optimize decisions and achievement of business goals
- Work closely with and support all other areas of Dealer Finance and Risk Management areas to ensure effective controls in place to identify and mitigate direct and contingent portfolio exposures and maximize the return of the company’s investment
- Create and manage a safe work environment
- Leverage your quantitative skills to decompose complex trade breaks and propose creative, robust proccess flow model solutions
- Implement and maintain Credit Directives, Policies and guidelines which will minimize risk, manage portfolio delinquency, and improve underwriting quality
- Monitors credit risk by conducting card address verification and fraud checks
- Releases credit card orders after confirming a valid card authorization exists
Qualifications for credit operations
- Strong SQL or SAS or other data mining/database related query languages knowledge
- Solid project management skills with attention to detail on data and a strong focus on meeting deliverables with time limitations
- Must be a team player that enjoys challenging assignments & embrace ‘fun’ in a high-energy and fast growing workplace
- Basic knowledge of Credit Card Processing preferred
- Experience with reconciliations required
- Understanding of reconciliations
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Credit Operations Job Description
Job Description Example
Our company is growing rapidly and is looking for a credit operations. To join our growing team, please review the list of responsibilities and qualifications.
Responsibilities for credit operations
- Reviews evaluates and assesses account information
- Sets up credit card accounts
- Updates and maintains credit card account information and data
- Settles credit card batches utilizing appropriate payment tools and software
- Prepares cash application advice
- Researches and resolves customer disputes within the scope of designated authority
- Middle Office support for various global Structured Credit Trading businesses
- Manage key operational aspects around the issuance/execution for complex structured financing transactions
- Subject Matter Expert in Credit Derivatives, Loans, Debt Instruments, Structured Financing transactions and associated operational processes
- Actively involved with idea generation and implementation of creating quality solutions within the team to support new client and business activity and regulatory adherence
Qualifications for credit operations
- Bachelor’s degree in Finance, Mathematics, Engineering, Economics, Operational Research, or related field required, advanced degree preferred
- Prior experience with credit agreements/bank loan processing or structured credit transactions preferred
- Risk mitigation and escalation skills for ever-increasing complexity of structures
- Prior business credit experience preferred
- Solid communication, time management and interpersonal skills
- Proficient experience using Outlook, Word, Excel, and PowerPoint