Sr. Credit Officer

at Live Oak Bank • Wilmington HQ

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POSITION SUMMARY:

This position is responsible for evaluating and making decisions on renewals, modifications and new deals ensuring quality and soundness for credit transactions. Manages approval and commitment process ensuring compliance with Credit Policy and accuracy of documents and supporting exhibits. Works with Live Oak managers and clients negotiating and communicating final deal structure and terms. Continuously monitors and proactively manages risk/exposure and compliance with Credit Policy for assigned portfolio. Frequently visits clients and reviews client performance and financials.  Responsible for evaluating financial performance of borrower and based on a variety of factors determining an appropriate risk rating. Responsible for making decisions or recommendations on renewals, modifications, etc. Works with Loan Officers and clients.

 ESSENTIAL FUNCTIONS:

  • Visits and interacts in person and via phone/email with existing customers and potential customers on credit or risk related matters.
  • Communicates final deal structure, pricing, terms and conditions to client and Sales team maintaining integrity of formal approvals
  • Continuously monitors and frequently visits clients providing an independent review of credit quality, client risk/exposure, risk ratings, compliance with Credit Policy and compliance with terms and conditions of legal agreement for assigned portfolio
  • Identifies early client risk/exposure, early detection of volatile industries and markets for assigned portfolio within designated region
  • Manages approval process ensuring accuracy of approval documents memorandum (SAM), supplemental exhibits and underwriting is compliant with current Credit Policy standards and practices
  • Authorizes decisions in areas of credit transactions, risk ratings and extensions of credit within limits of individual authority and makes recommendations on others.
  • Evaluates structures, risk rates and underwrites companies with risk exposure or potential risk exposure to the bank. Ensures appropriate compliance with all band requirements and loan covenants
  • Negotiates terms and conditions of Credit with Loan Officer and leadership.
  • Responsible for formal credit review processes such as Monitoring as well as Credit File reviews, Audits, Compliance Reviews etc and on an on-going basis reviews for accuracy and completeness all formal loan documentation, comments and updates
  • Responsible for the quality, integrity and soundness of all financial analysis, underwriting and credit approval processes for an assigned portfolio as primary liaison for client prospects
  • Interacts in-person and via phone with existing customers, potential customers and Banking Sales teams on a routine basis
  • Proactively manages credit risk and exposure for an assigned portfolio
  • Initiates credit modifications and risk upgrading/downgrading, modifying terms and frequency of covenants, financial reporting, collateral security, audit schedule

 SKILLS:

  • Ability to interact with all levels of management, work within a team environment and work independently
  • Ability to work with large databases and data sets for extraction and conversion into useful business information
  • Knowledge of Microsoft Office, particularly Excel
  • Strong negotiation and presentation skills
  • Strong organizational and administrative skills. Ability to multi-task
  • Strong technical and analytical skills
  • Strong written/verbal communication and interpersonal skills
  • Thorough knowledge of financial statements, accounting principles, credit policy, applicable laws and industry data sources

 

EDUCATION:

  • Minimum of a Bachelor’s degree in Finance, Business Administration, Accounting, Economics or equivalent experience

 

EXPERIENCE:

  • Minimum of 5-10 years credit experience
  • 5+ years of total credit experience, including 3+ years experience as a Senior Credit Analyst, Senior Loan Senior Loan Workout Analyst, Senior Portfolio Manager, Senior Underwriter

 

PHYSICAL DEMANDS/WORK ENVIRONMENT REQUIREMENTS:

  • Vision, hearing, speech, movements requiring the use of wrists, hands and/or fingers
  • Able to sit, stand, stoop and bend
  • The ability to work the days and hours required to fulfill the essential functions of the position
  • The ability to work long hours and to multitask

 

MENTAL DEMANDS:

  • Learning, thinking, concentration, creativity
  • The ability to interact with others and exercise self-control
  • The ability to work under stressful conditions
  • The ability to exercise discretion when necessary
  • The ability to manage multiple files simultaneously