Director, Credit Risk Management
VersaBank is an inclusive, entrepreneurial, Schedule 1 Chartered Bank with over $4.3 billion in assets and growing. Currently operating in Canada as the most innovative bank, VersaBank operates as a branchless financial institution that obtains its deposits and provides most of its loans and leases electronically, with innovative deposit and lending solutions for financial intermediaries that allow them to excel in their core businesses.
VersaBank USA has received its final federal approvals and will soon begin operations in the US offering customers our unique Receivable Purchase Program (RPP).
VersaBank USA is looking to add a Director, Credit Risk Management to our US Credit team. This will be a fully remote role, located in the state of Florida.
Job Description
As the Director, Credit Risk Management, you will be responsible for managing the day-to-day activities of the credit department for VersaBank USA.
This role will focus on assessing and managing credit risk for the Receivable Purchase Program (RPP), through credit approvals, renewals, related controls, reporting requirements, and establishment of procedures.
You will work closely with the Executive team and other Credit stakeholders to ensure that potential risks are identified, measured, mitigated, and reported as per regulatory requirements and internal protocols.
Minimum Qualifications :
- Bachelor’s degree in business, Finance, Accounting, or related field or equivalent work experience.
- 10 years of experience with progressive responsibility in credit, risk management, and lending positions with a focus on leasing and consumer financing.
- MBA would be considered an asset.
- Experience in financial statement, credit, and collateral analysis across various debt asset classes.
- Demonstrated expertise in credit and financial risk analysis with a strong understanding of lease financing and documentation.
- Strong working knowledge of Microsoft applications, especially Excel for data mining and modeling.
- Advanced experience in lease vendor relationships and assignment agreements.
- Excellent communication skills with the ability to develop concise summaries of complex analyses and data.
- Superior analytical and problem-solving skills, with the ability to prioritize and resolve issues as they arise.
- Highly focused attention to detail and a drive to deliver high-quality results.
- Ability to bring sound business judgment to decisions and evaluations.
- Responsive to the needs of stakeholders with an acute awareness of the impact of actions.
Primary Responsibilities Include :
- Credit Underwriting and Funding Supervision :
- Provide constructive feedback to lenders on new lending opportunities.
- Provide advice on all credit submissions and related documentation from the standpoint of credit risk.
- Approve acceptable lending requests in line with delegated authorities under the Credit and Portfolio Management Policy.
- Ensure that credit decisions are adequately documented in credit files.
- Review funding submissions to ensure approved credit criteria are met and required security is in place.
- Generate and review monthly compliance dashboard reports to identify trends resulting in increased risk.
- Monitor action plans for underperforming loan assets.
- Follow-up with account management and institute action as appropriate.
- Responsible for the sign-off of all loan advances to ensure credit has been approved and conditions have been satisfied.
- Credit Policies and Procedures :
- Maintain and amend the Credit and Portfolio Management Policy as necessary.
- Review the Credit and Portfolio Management Policies annually and recommend upgrades.
- Reporting & Audits :
- Prepare and present materials for Credit Committee and Risk Oversight Committee meetings.
- Develop and maintain a reporting structure for senior management and the Board regarding trends and risks in the loan portfolio.
- Act as the primary contact with internal and external auditors on credit-related matters.
- Other Responsibilities :
- Assist with the calculation of the allowance for credit losses.
- Responsible for departmental reporting and compliance requirements.
- Preparation and presentation of material to Board and Management committees as necessary.
Location
This position will be fully remote, in the State of Florida.
We offer excellent career advancement opportunities, an informal, positive work environment, and a competitive compensation package including vision and dental coverage, and life, AD&D, and disability insurance.
Contact Information
Contact Email : [email protected]
Disclaimer
Applicants may be subject to a background check. Employees in this position must be able to satisfactorily perform the essential functions of the position.
VersaBank USA retains the right to change or assign other duties to this Director, Credit Risk Management position.
Application Deadline
VersaBank USA accepts applications on a rolling basis.
Even if your qualifications don’t match our criteria exactly, we welcome you to apply if you have an interest in this position.
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