1st VP, Commercial Credit Officer - New York

About the Role

Under the direction of the Chief Credit Officer, the 1st VP, Commercial Credit Officer develops and updates credit policies and procedures to comply with regulatory requirements and align with the Bank’s risk appetite and strategic goals, considering current economic conditions. This role provides guidance on proposed changes, seeks consensus, and communicates approved changes to commercial lending units, senior management, and other stakeholders. The position leads a team of Commercial Credit Managers and analysts while overseeing the quality of credit analysis.

Responsibilities

• Credit Team Management
  • Manage credit analysis functions for underwriting and approval of commercial loans.
  • Monitor and manage the underwriting pipeline to meet senior management expectations, regulatory timelines, and enhance client experience.
  • Supervise, train, schedule, and evaluate team members, including salary recommendations and disciplinary actions.
  • Resolve unusual problems and demonstrate commitment to Equal Employment and Affirmative Action planning.
• Credit Process Improvement / Streamline
  • Lead and advocate for change and innovation within the Credit Department.
  • Create, assess, and modify credit procedures and policies to mitigate undue risk in light of economic conditions.
  • Establish and maintain procedures to ensure compliance with regulatory guidance and industry best practices.
• Credit Risk Assessment
  • Exercise judgment in approving transactions within designated credit authority and recommend approval for higher-level transactions.
  • Collaborate with the Commercial Lending Team to determine appropriate loan structures.
  • Assess the appropriateness of risk ratings assigned by credit analysts during underwriting.
• Portfolio Oversight and Credit Risk Management
  • Review credit file assessments by Portfolio Managers to identify early warning signs of credit risk.
  • Approve risk ratings within designated authority.
  • Identify loans demonstrating weakness and recommend Watch designations or risk rating downgrades.
  • Present recommendations to the quarterly Credit Risk Taskforce.
  • Verify compliance with state, federal, and internal regulatory conditions.
  • Resolve complex or unusual problems.
• Team Development / Coaching
  • Develop, coach, and mentor team members.
  • Create individualized development and training programs based on experience and goals.
• Management Committee and Board Reporting
  • Prepare management reports for the Executive Management Operating Committee and the Board of Directors.
  • Review and recommend commercial loan transactions for Credit Committee approval.
• Technology Enhancement
  • Seek and implement emerging tools and technology to improve credit risk insights and department efficiencies.
  • Collaborate with the Commercial Technology Department to optimize the Loan Origination System (LOS) and request modifications as needed.
• Regulatory and Policy Compliance
  • Maintain thorough knowledge of the Bank’s credit policies, procedures, risk trends, banking regulations, and industry best practices.
  • Ensure all analysis, recommendations, and approvals comply with internal policies and regulatory requirements.
• Other Responsibilities
  • Participate in ad-hoc projects, strategic initiatives, and other job-related duties as assigned.

Requirements

• A Bachelor’s degree in Business Administration, Accounting, Finance, or a related field.
• Minimum of 15 years of experience in Commercial Credit, preferably with lending authority.
• Minimum of 7 years of leadership experience.
• Personnel management experience.
• Working knowledge of commercial loan products, policies, procedures, and federal regulations.
• Strong aptitude for figures and accuracy.
• Proven problem-solving, decision-making, underwriting, and analytical skills.
• Demonstrated knowledge of applied accounting and finance concepts, including proficiency in detailed financial analyses.
• Ability to work independently, effectively, and efficiently under time constraints.
• Strong organizational and time management skills to prioritize multiple assignments.
• Excellent written and verbal communication skills.
• Proficiency with computer software, including MS Office applications and specialized credit analysis and lending software.

Benefits

• Contributory Medical, Dental, Vision, and Prescription drug coverage.
• Bonus programs.
• Employee Stock Option Program (ESOP).
• Life Insurance, Long-Term Disability, and Accidental Death and Dismemberment (LTD & AD&D).
• Paid Time Off (PTO), including personal and vacation time.
• Paid Sick Time.
• Bank Holidays.
• 401(k) retirement plan participation.

Schedule

Hybrid; 3 days in the office and 2 days remote based on business need. This arrangement may change without notice.