Posted:September 17, 2019
Our client, a goal of being the best foreign bank in Canada, are continuing to grow and are looking for a motivated Vice-President of Credit to join their Bank.
The Vice-President (VP), Credit Department is responsible for overseeing all business related to credit adjudication function in the bank to improve and achieve the efficiency in risk management and asset soundness. The VP, Credit Department participates in the Loan Committee and Adjudication Committee as a senior member to offer a risk-oriented opinion to participating members to make sound decisions on credit application and oversees reserved capitals for credit losses and write-offs according to review loan classifications.
Main Job Functions
- Supervise credit adjudication function
- Manage credit quality control process
- Manage and monitor proper management of lending exceptions, non-conforming loan, and portfolio limit
- Manage the bank-wide problem loans and impaired loan
Roles and Responsibilities
Supervise of Credit Adjudication Function (Mortgage Underwriting Operations)
- Supervise each credit evaluation officer by mentoring and coaching for assessing risk evaluation and setting new approval conditions for escalated credit approval requests from the branch.
- Support and negotiate the issues arisen of the different aspects of reviewing credit applications between Credit Department and a branch.
- Monitor on-going operational compliance with the Loan Guidelines at every level of the Bank.
Manage Credit Quality Control Process
- Oversee “Pre-funding Review” on all retail loans which were systemically approved (using Automated Credit Approval System) prior to finalize the approval process.
- Manage periodic monitoring of Early Warning Signals at the time of new loans, renewal of loans, and the Commercial Account Review Monitoring (CARM) as well as a Residential account monitoring review in accordance with the established schedule.
- Manage additional Early warning system review frequency based on specific themes and occasions such as economic change, real-estate market conditions, industrial risk, and etc.
- Monitor the market fixed rate and review for any adjustment each quarter.
Manage and Monitor Proper Management of Lending Exceptions (Non-Conforming Loan and Portfolio Limit)
- Review daily management of lending exceptions and accumulate the result to report.
- Review and assess the status / result of management of lending exceptions on both commercial and residential secured loans with following schedule.
- Report on Monthly Status: Risk Management Department / Risk Management Steering Committee.
- Report on Quarterly Status & the result of Operation Management: Risk Management Committee.
- Educate the status of lending exception management to lending decision maker to reflect on lending decision to maintain appropriate level on given-limit.
- Determine on release loan account from the exception management list.
- Trace the performance of exceptionally approved loans.
Manage the Bank-Wide Problem Loans and Impaired Loans
- Manage a transfer of impaired loans to Head Office (H.O.) workout teams in Credit Department.
- Assess appropriateness of Write-off Claims and report to Chief Credit Officer
- Oversee legal proceeding against impaired loans by deciding litigation strategies such as negotiating recovery of principal with the debtors before preceding Statement of Claims, POS (Power of Sales) and payment of expense for collection of claims.
- Oversee and manage NPL (Nonperforming Loan) Status and Target.
- Other duties as assigned.
Qualifications and Skills
- Bachelor’s Degree in Business Administration, Finance, or related field
- Chartered Financial Analyst (CFA) certification, an asset.
- Minimum of 10 years’ progressively responsible retail, commercial and/or corporate lending experience, with a minimum of 5+ years in a leadership capacity.
- Advanced knowledge of related banking and compliance regulations and policies for a federally regulated Canadian retail and commercial bank.
- Strong credit skills, transaction experience, and demonstrated ability to work with senior officers and business partners.
- Solid understanding of credit rating methodologies and models.
- Ability and proven experience to implement strategies for effecting change, controlling change and helping people adapt to change.
- Advanced knowledge and skills in leading a team through empowerment, collaboration, communication, team building, and mentoring.
- Superior interpersonal skills, oral and written communication and ability to anticipate and guide the impact of effective internal and external communication strategies on the Bank.
- Ability to manage time and resources to ensure work is completed efficiently and within established time frames.
- Ability to carry out strategies with a clear understanding of industry trends, economic and market dynamics, and financial acumen.
- Superior analytical and management skills and the ability to objectively ascertain solutions focused on Bank’s success.
- Instills mutual trust and confidence, fosters a culture of compliance and high ethics and confidentiality, advanced demonstration of corporate responsibility and fair treatment of others.
- Extensive knowledge of banking operations, information systems, data processing systems, regulatory requirements and compliance. A self-user and promoter of technology. PC and Microsoft Office Product proficiency.
What You Need To Know
Must be legally eligible to work in Canada at the location(s) specified above and, where applicable, must have a valid work permit that allows the candidate to fulfill the requirements of the role.
To achieve the goal of being the best foreign bank in Canada, our client is continuing to grow and are looking for a motivated Vice-President of Credit to join our Bank.