Live Oak Bank · 1 day ago

Senior Credit Risk Officer

Remote - NC

Full-time

Remote

Senior Level

$165K/yr - $230K/yr

5+ years exp

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Responsibilities

Model ownership for our Current Expected Credit Losses (CECL)/Allowance for Credit Losses (ACL) model including quarterly updates to the bank’s life of portfolio loss estimate through qualitative, quantitative, and individually assessed model inputs. This will include regularly evaluating the appropriateness of model assumptions and applying judgment on the appropriateness of any model adjustments.

Oversee quarterly Credit Watchlist meetings including determining thresholds for presentation and review as well as confirming appropriate risk rating changes and portfolio actions are addressed post-meeting.

Model Ownership of the Credit Risk Rating model. This will include the overall model structure as well as developing, assessing, and adjusting scorecard factors, weightings, and scales to achieve appropriate probability of default pools by risk grade. Owner of Credit SOX controls which includes quarterly verification for completion and accuracy for model controls.

Serve as primary point of contact with regulatory and third-party audit/validation partners addressing questions or concerns as they relate to Credit Risk.

Responsible for management of Credit Policy and Procedures which includes developing and updating Credit Policy and Procedures to address new lending products and changes to risk tolerance or policies/procedures within the Bank

Develops remediation and related process implementation as a result of audit or validation findings.

Work closely with software/product development teams to ensure accuracy of reporting and the necessary build-out within Prism in order to track new regulatory reporting requirements and/or changes as a result of any audit findings.

Initiate and lead complex projects within the Credit organization related to the understanding, management, and communication of risk within the loan portfolio.

Review and appropriately adjust the language in regulatory reporting including the Bank’s 10Q filings

Regularly communicate, through written and oral communication, actionable credit insights to the bank’s Executive Leadership team and Board of Directors.

Proactively self-identify potential risks or control deficiencies and work with the Risk and Internal Audit teams to implement processes to manage new risks.

Serve as a thought leader within day-to-day and project-based workflow, supporting co-worker training and education initiatives as appropriate.

Possess a sound understanding of the regulatory body of work that covers Credit Models

Recognize trends in economic data and our loan portfolio and apply judgment related to those trends in the adjustment of model inputs, scales, factors, and weightings within our Credit Models to generate appropriate results.

Possess a thorough understanding of the bank’s CECL model to effectively and efficiently communicate the direct impacts to the bank’s financial statements (both income statement and balance sheet).

Lead conversations with Internal and External Auditors, Bank Examiners, and 3rd party Model Validation firms to communicate how the Bank addresses risk broadly across Policy and Procedures as well as at the individual loan level.

Evaluate Credit Risk through the extraction and transformation of data from internal and external sources.

Lead discussions with the analytics team to develop executive-level reports and dashboards to summarize Credit Risk across the loan portfolio.

Develop models using loan portfolio data, third-party data, and other tools to provide insight into portfolio risk

Develop and maintain reporting that informs Senior Management and the Board of Directors on issues related to Credit Risk and Credit Quality across loan originations and the loan portfolio.

Possess an in-depth understanding of Bank loan product offerings, loan life cycle, and related business unit processes and procedures.

Qualification

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Credit Risk ManagementModel DevelopmentRegulatory ComplianceStatistical AnalysisExcelPythonCredit Policy DevelopmentData TransformationLoan Portfolio AnalysisProject Management