FVP, Chief Credit Officer

Who We Are:

For over a century, HarborOne’s mission has not wavered, total commitment to our customers, our communities, and our colleagues. Founded in 1917 to serve the growing financial needs of our local communities, HarborOne continues to honor and embrace its commitment to strengthen and empower the communities where our customers and employees live and work.

Today, HarborOne has 30 branches in southeastern Massachusetts and Rhode Island and 2 commercial lending offices in Boston and Providence. Our corporate values of accountability, integrity, respect, trust, and teamwork are core to how we manage our business and our relationships with our customers. Working at HarborOne will give you a great career with opportunities to learn, grow and make an impact, along with the power to make a difference.

Job Description:

Under the direction of the EVP, Chief Risk Officer, The FVP, Chief Credit Officer (CCO) is charged with the management, execution, and oversight of credit risk across the various loan portfolios.  The CCO is responsible for implementing appropriate policies, procedures, and systems to identify, measure, monitor, and control credit risk in accordance with Bank policies, Risk Appetite, and regulatory guidelines.  The role involves working closely with members of Senior Management, Board of Directors, regulators, and individuals at all levels within the organization.

Essential Duties and Responsibilities:

• Loan Approval: Review and provide a recommendation for all commercial loans in accordance with the approval hierarchy. Provide recommendations for other lending division loans that are policy exceptions prior to submission to appropriate approval authority.  Ensure new loans possess favorable risk and return economics.
• Monitoring and Reporting: Provide clear, concise, and objective guidance to Management, Risk Committee and Board on the asset quality of the loan portfolio, including delinquencies, nonaccruals, OREO, loan concentrations and profitability.
• Policies and Procedures: Directly and indirectly monitor the lending portfolio to ensure that lending divisions operate in accordance with applicable laws and regulations, as well as bank policies and procedures as approved by the Board of Directors. Maintain, update and recommend changes to divisional loan policies as it pertains, but is not limited to, underwriting, loan authorities, structure, pricing guidelines, collections and charge-offs.  Periodically review and reevaluate the adequacy and effectiveness of established policies and procedures. Communicate and interpret lending policies. 
• Performance Management: Responsible for providing communication to department heads regarding loan portfolio performance. Ensure the competency and accountability of lending and credit staff and set expectations for training and development of personnel in order to provide for continued career development.
• Risk Ratings: Evaluate the accuracy of risk ratings established by the lending officers. Interpret risk rating definitions and provide training to lending and credit personnel on risk ratings.
• Underwriting: Periodically assess the quality of loan analysis performed by the divisions and Credit Administration.
• Documentation: Work with the respective account officers, credit administration, servicing, and compliance to ensure that new and existing loans are properly documented, and lien positions are appropriately perfected.
• Loan Processing and Servicing: Facilitate cooperation between lending divisions, Credit Administration and Loan Servicing to ensure that applicable areas provide prompt and efficient service to external and internal customers. Coordinate with loan servicing to ensure that operations run efficiently, accurately, and according to established procedures and policies.
• Real Estate Valuations & Third-Party Reports: Ensure uniformity of appraisal engagements, environmental reports and property condition reports, and their review.
• Problem Loans: Oversee the management of larger problem loans and monitor workout activities. Develop strategies to improve non-performing loans, reduce delinquencies, maximize recoveries, and minimize losses. Identify potential problem credits and provide guidance to staff in restructuring the credit and/or minimizing potential losses.
• Examinations: Be responsible for coordinating for the examiners and loan review, all “credit related” examination data, document requests and information that is needed. Be available to respond to all “credit related” questions.
• Credit Risk Culture: Establish comprehensive risk appetite and limits, inclusive of the evaluation of new products and business opportunities within this framework.

Supervisory Responsibilities:  

• Performs direct supervisory duties of department staff, and coordinates staff for coverage in all related areas of the department. Assumes responsibility and is accountable for adherence to Bank policies and procedures.
• Budgeting and Fiscal: Prepare, implement, and adhere to the credit area’s annual budget.

Competencies:

To perform the job successfully, an individual should demonstrate the following competencies:

• Oral Communication - Speaks clearly and persuasively in positive or negative situations; Listen’s and gets clarification; Responds well to questions; Demonstrates group presentation skills; Participates in meetings.
• Written Communication - Writes clearly and informatively; Edits work for spelling and grammar; Varies writing style to meet needs; Presents numerical data effectively; Able to read and interpret written information.
• Cost Consciousness - Works within approved budget; Contributes to profits and revenue; Develops and implements cost saving measures; Conserves organizational resources.
• Ethics - Treats people with respect; Keeps commitments; Inspires the trust of others; Works with integrity and ethically; Upholds organizational values.
• Organizational Support - Follows policies and procedures; Completes administrative tasks correctly and on time; Support’s organization's goals and values; Benefits organization through outside activities; Supports affirmative action and respects diversity.

Required Skills:

• Bachelor’s Degree in Related Field, plus equivalent combination of work experience and advanced degree in finance, accounting, mathematics/modeling, or economics preferred.
• A minimum of 15 years previous financial institution experience with a minimum of 10 years in a leadership role as a credit/lending manager with a financial institution.
• Comprehensive banking background with extensive experience in commercial, real estate, construction, consumer lending, and loan portfolio management.
• Must possess knowledge of the overall business marketplace, and a history of successful community involvement.
• Extensive understanding of business and financial fundamentals, with mathematical aptitude & advanced accounting & computer spreadsheet skills.
• Proven strong financial analysis and loan underwriting skills.
• Demonstrated analytical, decision-making, and effective problem-solving skills.
• Maintain a thorough knowledge of credit services and a complete understanding of Loan Policy.
• Properly plan and assess staffing needs to meet the needs of the business and clients.
• Ability to plan for Cross training of staff and work to meet the needs of the department initiatives.
• Ability to read and interpret loan & legal documents such as state and federal regulations, and procedure manuals. Ability to write complex credit memorandum and correspondence.  Ability to speak effectively before groups of customers or employees of organization.
• Ability to work with mathematical concepts such as probability and statistical inference, and fundamentals of plane and solid geometry and trigonometry. Ability to apply concepts such as fractions, percentages, ratios, and proportions to practical situations.
• Ability to solve practical problems and deal with a variety of concrete variables in situations where only limited standardization exists. Ability to interpret a variety of instructions furnished in written, oral, diagram, or schedule form.
• Proficient in Microsoft Office, including Word, Excel, Access, Outlook, and PowerPoint.
• Proficient in financial spreadsheet loan process automation programs, i.e. Credit Quest Credit Manager, Financial Analyzer, Portfolio Manager, and Report Manager.
• Proficient in general web-based applications and Adobe Reader.

Compensation:

Offers will be determined based on job-related knowledge, skills, experience, and location.

Benefits:

Our benefit package* may include:

• Paid vacation and sick time
• Medical and dental insurance
• Pre-tax premium program
• Health Reimbursement Account/Health Savings Account
• Employee Stock Ownership Plan (ESOP)
• 401K plan
• Life Insurance
• Tuition reimbursement and tuition assistance programs
• Short term and Long term disability insurance