Chicanos Por La Causa, Inc.
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Sr. Credit Officer
at Chicanos Por La Causa, Inc.
Work Location: Prestamos 1024 E. Buckeye Rd. Suite 270 Phoenix, AZ 85034
The Senior Credit Officer is responsible for oversight of credit policy and procedures, credit analysis and quality assurance, underwriting and portfolio management. This includes effectively managing the quality of Prestamos’ small business loan portfolio and New Market Tax Credit portfolio by ensuring strict adherence to Prestamos Credit Policy, strong underwriting and diligent portfolio quality review. Additionally, the SCO is responsible for managing the operations staff and daily operational functions necessary to support the loan portfolio.
- Must maintain a demonstrated understanding of loan underwriting structures, pricing and processes as they relate to the funding of small business loans for business start ups and ongoing business entities
- Must have thorough knowledge of financial accounting theory and logic and loan structuring.
- Must be able to communicate information and concepts clearly, both orally and in writing; ability to interpret and discuss analytical data.
- Technical skills should include proficiency in MS Office (Word and Excel in particular) as well as a familiarity with Microsoft Outlook and loan portfolio software systems
- Must have an understanding of GAAP principles and auditing practices
- Helpful to have a working knowledge of SBA lending programs and New Market Tax Credit financing
- Candidate should possess a minimum of a Bachelors Degree in finance, management or comparable business administration or related discipline, or combination of education and experience.
- 10 years of commercial lending/analytical or related experience in commercial underwriting and portfolio management
- Possesses a clear understanding of both micro- and small business loan underwriting guidelines
JOB RESPONSIBILITIES AND COMPETENCIES
Creating/Updating procedures and policies for credit and loans
Implementing a system of credit analysis and quality assurance for loans,
Examine files for credit assurance and collateral documentation.
Identify problematic loans and manage workouts
Provide quarterly analyses regarding loan allowances and losses, and prepare board reports
Approve/deny all loan applications
Manage Loan Committee meetings, including developing the agenda, overseeing CAP presentations, portfolio performance reviews
Ensure compliance of all approval terms and conditions prior to loan closings
Review all legal documentation prior to loan closings and authorizing the file as "clear-to-close"
Oversee the maintenance of accurate, complete and up-to-date fields and records with support from the Loan Administrator
Conduct second-level annual review of all credits with outstanding balances over $100,000
Approve short-term loan payment adjustments
Structure loan modifications when needed; seek approval for modifications per the Prestamos Credit Policy
Monitor loan covenants for compliance
Portfolio monitoring and review loan tracking, and risk management activities, including, but not limited to, analyzing portfolio trends and identifying portfolio risk by interpreting data on payment trends, borrower financial ratios, pricing, economic influences, and other factors affecting the portfolio
Set goals/strategies for payment resolution of impaired loans; manage external efforts to achieve
Manage liquidations of collateral
Manage Loan Loss Reconciliation in conjunction with the Accountant
Generate and lead monthly Portfolio Quality Review with President and BDOs
Updates job knowledge by participating in educational opportunities; reading professional publications; maintaining personal networks; participating in professional organizations.
Document and report on lending relationships' status and quality.
Direct due diligence and portfolio assessment practices, evaluating work.
Investigate and understand discrepancies, problems, and unusual situations.
Analyze financial information to determine credit quality, approve credit, and document risk factors.
Develop and document risk mitigation standards and processes.
Client Focus - Dedicated to meeting the needs of internal and external clients; listens effectively and establishes and maintains relationships and gains client’s trust and respect.
Ethics, Integrity and Trust - Considers ethical issues before decisions are made and seeks to achieve results that are in the best interest of CPLC and Prestamos CDFI, LLC.
Ownership, Accountability, Responsibility and Compliance - Takes ownership of tasks, projects, and relationships and follows through on obligations and promises.
Self Development and Learning - Personally committed to learning and actively works to continuously develop professionally.
Teamwork and Collaboration -Works collaboratively; finds common ground and solves problems for the good of all and can represent his/her own interests and yet be fair to the team.
INDIVIDUAL CONTRIBUTOR COMPETENCIES:
- Goal-Oriented - Proceeds with projects and programs while constantly keeping the goal in mind. Translates general goals into practical achievable objectives. Identifies outcomes that are attainable, measurable, specific and time-focused. Measures progress toward goals. Revises goals based on available resources or priority changes.
- Decision Making and Problem Solving -Makes decisions in a timely manner, uses a mixture of analysis, experience and judgment to solve difficult problems with effective solutions.
- Informing and Communicating - Proactively communicates information to colleagues up, down and across the organization, provides updates on projects, tasks and potential roadblocks.
- Planning - Accurately scopes out length and difficulty of tasks and projects and sets objectives and goals
- Time Management - Uses his/her time effectively and efficiently; values time; concentrates his/her efforts on important priorities and completes tasks and/or projects on time.
- Strong organizational and interpersonal skills
- Ability to interpret and discuss analytical data
Ability to communicate clearly and effectively both verbally and in writing.
Ability to present operational information to personnel at all levels
- Ability to work well as a team member
- Ability to juggle several tasks and prioritize