Assistant Vice President, Credit

Our Client is searching for their next Assistant Vice President, Credit.

Title: Assistant Vice President, Credit
Reports to: Chief Credit Officer

Purpose of Position:

To manage activities within the credit department for credit approval, credit renewal, credit amendments and related controls, procedures and reporting primarily for the Commercial Banking business unit.

Key Responsibilities:

Credit & Funding Supervision

• Provide constructive feedback to lenders on new lending opportunities
• Provide advice and/or observations on all credit submissions and related documentation, primarily from the standpoint of credit risk, challenging submissions with a written response when appropriate
• Provide approval of acceptable lending requests in line with delegated authorities under the Credit Facilities Approval Policy
• Ensure that credit decisions are adequately documented in credit files
• Review of all submissions and the portfolio generally as to:
  • Quality of supporting comments/clarity etc.
  • Acceptability of risk profile
  • Underwriting quality
  • Account management is using the correct credit template for the credit submission
  • Ensure connection of borrowers established within the body of the credit and AMS front page as dictated by Common Risk policies
  • Transaction is assigned the correct risk weight and that NAICS and Asset Categorization assignment within AMS by the account manager is correct
  • Confirmation of data input into AMS
  • Appropriateness of the risk rating and that the risk rating grid captures the correct data
  • Any exception to credit is documented as a Special Case Lending Transaction and appropriate rationale exists to support the Special Case Lending Transaction Acceptability/rejection of appraisal and adequate commentary to support appraisal and/or adjustment of value accordingly
  • Policy compliance to product offering
  • Portfolio policy compliance to borrower/connection, product, geographic and/or industry limits
  • Regulatory compliance

• Monitor action plans with respect to underperforming loan assets related to the
  Commercial Banking business unit
• Follow-up with account management and institute action as appropriate, after consulting the overdue review report, delinquency report, and security and AML deficiency report
• Responsible for the sign-off of all loan advances related to Commercial Banking business unit. Sign-off ensures that a credit has been approved, all security is in place (or to be funded in escrow subject to solicitor obtaining security) and that the incumbent is satisfied that all conditions precedent and/or other conditions of funding have been satisfied

Credit Policies & Procedures

• Assist CCO with the maintenance and amendments with the Credit Policies and the Credit Portfolio Management Procedures
• Undertake review, at least annually, of the Credit Policies and the Credit and Portfolio Management Procedures Manual, providing recommendations of areas deemed appropriate for upgrading and then implementing the changes Undertake review, at least annually, of the Credit Policies and the Credit and Portfolio Management Procedures Manual, providing recommendations of areas deemed
  appropriate for upgrading and then implementing the changes
• Preparation of change to Commercial Banking Policies for presentation to the CCO, the President and CEO, as well as for presentation to committees if required
• Provide constructive input as to changes being considered in policy regarding
  concentration levels (i.e. Large Exposure Policy, Asset Concentration Policy, Industry Limit Policy)

Reporting

• Assist the CCO with the preparation and presentation of materials for Risk Oversight Committee meetings, primarily, all necessary reporting regarding the Commercial Banking business unit as well as the completion of the Loan Portfolio Tracking Report
• Monitor and update data warehouse reports to ensure they are capturing information correctly and develop any new necessary data warehouse reports to assist with the risk management of the Commercial Banking business unit
• Develop and maintain a reporting structure with the CCO to keep the senior management abreast of trends and risks in the Commercial Banking business unit Develop and maintain a reporting structure with the CCO to keep the senior management abreast of trends and risks in the Commercial Banking business unit

Audits

• Be the primary contact with the internal auditor, external auditors, and regulatory bodies on credit related matters associated with the Commercial Banking business unit

Temporary Absence

• Provide relief to the CCO during temporary absences
• To provide temporary relief, the incumbent will need to familiarize themselves with the Structured Finance business line product offering and policies

Anti-Money Laundering and Anti-Terrorist Financing

• Responsible to remain current and comply with anti-money laundering and anti-terrorist financing legislation, regulations and requirements as they pertain to the position’s area(s) of responsibilities
• Ensure that the correct AML risk rating has been assigned to each credit transition presented to the credit department and CAMLO signature is obtained on the credit application when dictated by policy

Other

• Assist the CCO with the calculation and supporting rationale of the collective allowance on a quarterly basis
• Responsibility for departmental reporting and compliance requirements
• Preparation and presentation of material to Board and Management committees as necessary
• All Bank employees must be aware of and apply the guidance of the Operational Risk Appetite Statement, practice risk smart behavior and understand the risks they can and cannot accept. All Bank employees must understand the risks that fall within their areas of responsibility, report to Senior Management on the identification of new risks, and manage known risks within approved policy and procedure limits.
• Develop administrative staff
• Other duties as assigned by the CCO

Qualifications:

• Multidimensional banking professional with a background in all aspects of the commercial credit function
• Previous experience in credit underwriting with a broad spectrum of clients
• An exposure to public sector leasing and project lending to public/private partnerships would be a definite asset
• Bachelor’s Degree in Business, Finance, Accounting or related field or equivalent work experience
• Master’s Degree in Business Administration, Chartered Accountant Designation or FICB degree is preferred
• 10+ years of work-related experience with a variety of credit products
• 5+ years’ experience in real estate lending
• Superior analytical and decision-making skills based on effective assessment/management
• Excellent verbal and written communication skills
• Demonstrated ability to work effectively with lenders
• Proficient knowledge of standard office equipment including PC skills with emphasis using MS products including Word & Excel

*Potential to progress to VP, Credit

Interested candidates please contact Stephanie Williams at  swilliams@collinsrecruit.com.