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VP - Credit Officer Team Lead
Banc of California
Los Angeles, CA, United States
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Description
Since 1941, Banc of California (NYSE:BANC) has empowered California’s diverse private businesses, entrepreneurs and communities, provided full service banking and lending, and partnered with businesses, families and employees to achieve their dreams.
Today, we are large enough to meet our clients’ banking needs, yet small enough to care and serve them well. Banc of California’s strong balance sheet, deep community roots and commitment to lasting and meaningful relationships are the foundation for its long record of success.
JOB SUMMARY:
Responsible for providing financial, credit, and trend analysis for the delivery of the Banks credit products and services to commercial banking clients and prospects. Manages a team consisting of Credit Officers and Credit Analysts within the office. Monitors the teams assigned credit relationships for covenant compliance, collateral monitoring, and credit deterioration. Keeps apprised of industry related, political and regulatory issues to determine their impact on specific industries or clients. Acts in an independent fashion from the Relationship Manager to evaluate and communicate to management the credit worthiness of the Borrower. Performs all duties in accordance with the company’s policies and procedures, all U.S. state and federal laws and regulations, wherein the company operates.
ESSENTIAL DUTIES AND RESPONSIBILITIES:
1. Evaluates highly complex credit requests; assists Relationship Managers in development of new business and credit structure and risk assessments; independently underwrites new credits and renewals and prepares the Credit Approval Memorandum (“CAM”) which is submitted to Credit Administration with a recommendation for final approval. Determines and assists RM’s in negotiating appropriate loan covenants to provide early triggers to detect deterioration of the credit.
2. Often acts as the primary Relationship Manager during vacations and times of employee turnover. Coordinates with Relationship Managers to gain information needed to perform annual reviews, including if necessary, site visits and phone calls, asks for receipt of current financial information. Maintains an independent relationship with their clients. Makes joint customer calls with RM to independently assess business and management team.
3. Performs independent credit analysis of loan packages (i.e. prepare financial analysis of personal and business tax returns and financial statements. Analyzes financial projections and is well versed in modeling a sensitivity and break-even projection analysis). Determines Debt Service Coverage for credit requested to ascertain borrower’s repayment ability. Exercises good credit judgment and makes an independent decision as to if we should approve the credit.
4. Proactively keeps on top of credit portfolio by using credit ticklers such that no credit goes past due at maturity. Makes collection calls to ensure loan payments are made timely.
5. Responsible for data integrity by working with Loan Servicing to ensure loans are boarded correctly.
6. Reviews daily overdraft report on assigned accounts. Works with RM to avoid losses on overdrafts.
7. Proactively incorporates the Bank’s Loan Policies when underwriting credit.
8. Provides direction to junior Credit Officers regarding very complex loan documentation and collateral perfection.
9. Ensures compliance with all applicable regulations, policies and procedures. Keeps up with changes to banking regulation and completes bank training courses on-line.
10. Orders third party reports in a timely fashion such as collateral audits, and appraisal and environmental reports. Performs appraisal and environmental reviews and has a strong knowledge of appraisal and environmental reports and policies.
11. Independently and proactively initiates problem loan identification and administration. Writes Problem Loan Status Reports (PLSR’s) as required by policy and quarterly Risk Rating Certifications. Responsible for ongoing proactive and correct identification and monitoring of Risk Ratings for Borrowers under the Risk Rating Policies of the Bank such that the office does not have Risk Rating misses either up or down grades when audited by internal or external auditors. Makes sure his/her team also is proactive in risk assessment for the portfolio.
12. Reviews the spreads prepared by the Credit Analysts for errors and communicates the review findings to the Credit Analyst.
13. Ensures compliance with all applicable regulations, policies and procedures. Keeps up with changes to banking regulation and completes bank training courses on-line.
14. Is responsible for his/her teams credit underwriting overall in terms of appropriateness of risk ratings and timeliness of acting on changes in the borrower, timeliness of renewals, quality of CAM’s and ability to underwrite in a quick and precise fashion.
15. Sets goals for the team and is responsible for performance plans and evaluations of his/her team members.
16. Ensures compliance with all applicable regulations, policies and procedures. Keeps up with changes to banking regulation and completes bank training courses on-line.
17. Participates in the Business Continuity Plan (BCP), as required.
18. Treats people with respect; keeps commitments; inspires the trust of others; works ethically and with integrity; upholds organizational values; accepts responsibility for own actions.
19. Demonstrates knowledge of and adherence to EEO policy; shows respect and sensitivity for cultural differences; educates others on the value of diversity; promotes working environment free of harassment of any type; builds a diverse workforce and supports affirmative action.
20. Follows policies and procedures; completes tasks correctly and on time; supports the company’s goals and values.
21. Performs the position safely, without endangering the health or safety to themselves or others and will be expected to report potentially unsafe conditions. The employee shall comply with occupational safety and health standards and all rules, regulations and orders issued pursuant to the OSHA Act of 1970, which are applicable to one’s own actions and conduct.
22. Performs other duties and projects as assigned.
Banc of California is an equal opportunity employer committed to creating a diverse workforce. All qualified applicants will receive consideration for employment without regard to age (40 and over), ancestry, color, religious creed (including religious dress and grooming practices), denial of Family and Medical Care Leave, disability (mental and physical) including HIV and AIDS, marital status, medical condition (cancer and genetic characteristics), genetic information, military and veteran status, national origin (including language use restrictions), race, sex (which includes pregnancy, childbirth, breastfeeding and medical conditions related to pregnancy, childbirth or breastfeeding), gender, gender identity, gender expression, and sexual orientation.
Qualifications
ESSENTIAL KNOWLEDGE, SKILLS, AND ABILITIES:
• Demonstrates knowledge of, adherence to, monitoring and responsibility for compliance with state and federal regulations and laws as they pertain to this position including but not limited to the following: Regulation Z (Truth in Lending Act), Regulation B (Equal Credit Opportunity Act), Fair Housing Act (FHA), Home Mortgage Disclosure Act (HMDA), Real Estate Settlement Procedures Act (RESPA), Fair Credit Reporting Act (FCRA), Bank Secrecy Act (BSA) in conjunction with the USA PATRIOT Act, Anti-Money Laundering (AML) and Customer Information Program (CIP), Right to Financial Privacy Act (RFPA, state and federal) and Community Reinvestment Act (CRA).
• Strong working knowledge of the Bank’s Loan Policies.
• Understands very complex loan documentation and collateral perfection.
• Strong skills in computer terminal and personal computer operation; Microsoft Office applications including but not limited to: Word, Excel, PowerPoint and Outlook.
• Advanced math skills; calculate interest and percentages; balance accounts; add, subtract, multiply and divide in all units of measure, using whole numbers, common fractions and decimals; locate routine mathematical errors; compute rate, ratio and percent, including the drafting and interpretation of bar graphs.
• Effective organizational and time management skills.
• Exceptional oral, written and interpersonal communication skills. Analytical writing skills a must.
• Ability to make decisions that have moderate impact on the immediate work unit and cross functional departments.
• Ability to comprehend and explain financial calculations and pricing alternatives
• Ability to apply common sense to carry out instructions and instruct others, train personnel, write reports, correspondence and procedures, and speak clearly to customers and employees.
• Ability to make informal and formal presentations, inside and outside the organization; speaking before assigned team or other groups as needed.
• Ability to deal with complex difficult problems involving multiple facets and variables in non-standardized situations.
• Ability to work with little to no supervision while performing duties.
EDUCATION, EXPERIENCE AND/OR LICENSES:
• Bachelor's degree in accounting, finance, economics or related field required and seven (7) or more years of related work experience and/or training.
• Intermediate/Financial Accounting 1 and 2 required.
• Work related experience must consist of a strong understanding of lending, specifically, cash flow and collateral analysis and loan structuring.
• Financial analysis experience for business financial statements, tax returns and individual’s financial statements and tax returns required.
• Experience in syndicated credits as a participant and in most types of credit products including derivatives required.
• One (1) or more years of managerial experience required.