Director of Credit Risk & Recovery/SVP
Merchants Bank, established in 1875, is a growing employee owned company dedicated to a philosophy of community banking with total company wide assets of over $2.7 billion. We are searching for a Director of Credit Risk and Recovery/Senior Vice President in Winona, MN.
This position will be responsible for the management and oversight of the Bank’s centralized processes and procedures relating to loan participations, SBA and FSA guarantied secondary market sales and repurchases, and attorney-prepared loan documents along with those respective relationships, oversight of loan policy updates, and oversight of the identification and creation of reports to monitor credit risk. This position will have direct oversight of the Customer Recovery Department and will personally be responsible to handle commercial special asset activity. Additionally, this position will be part of the loan approval process in the form of a permanent voting member on Management Loan Committee and an alternate voting member on Senior Loan Committee.
This position requires a minimum of 15 years of banking experience that includes business and/or agricultural lending, special assets and collections, credit, and financial analysis.
Competitive salary and benefits package provided, including an ESOP. Please apply online at www.merchantsbank.com/jobs apply in person at Merchants Bank, Winona (102 E 3rd Street). Questions can be emailed to cjnbreet@merchantsbank.com. Merchants Bank is an Equal Opportunity Employer of women, minorities, protected veterans and individuals with disabilities.
Essential Duties and Responsibilities:
Centralized Credit Management:
- Responsible for creating, implementing, and directly overseeing a centralized loan participation process to include identification and development of potential participating bank partnerships.
- Responsible for creating, implementing, and directly overseeing a centralized process for selling SBA/FSA guaranteed loans to the secondary market to include identification and development of potential investor partnerships.
- Responsible for working in cooperation with Regional Senior Lenders to develop and maintain a list of bank-approved attorneys to be utilized for the preparation of attorney prepared loan documents, develop guidelines for determining when attorney prepared documents will be used, and develop a list of required terms that must be included in attorney prepared documents.
- Responsible for updating, streamlining, and maintaining loan policy and training as needed to all stakeholders. Monitor new developments in lending and changing government regulations to ensure that loan policies are updated accordingly.
- Assist with various audits conducted both internally and externally to limit bank risk. Coordinate required information needed for outside audits and regulatory examinations to ensure records are readily available and assistance is provided. Work with regulatory agencies, internal and external auditors, and loan review to provide resolution on identified items.
- Serve as a permanent voting member of the Management Loan Committee and chair meetings in the absence of the Chief Credit Officer.
- Serve as an alternate voting member of the Senior Loan Committee.
- Serve as a voting member of the Company’s Enterprise Risk Management Committee
Customer Recovery (Retail Loans) / Special Asset Management (Commercial Loans):
- Responsible for the management and oversight of the Customer Recovery Department ensuring current regulatory and investor requirements are followed, written procedures are in place, approved software system is being utilized, and prompt reporting is being provided to management.
- Accountable for the timely completion of quarterly credit actions and problem credit reports.
- Responsible for independently analyzing credits to determine the most effective strategy for developing solutions negotiating account restructures, bankruptcies, accounts in litigation, repossessions, collateral sales, and deficiency arrangements on problem loans including participation in any court proceedings if needed.
- Formulate strategies and plans on special asset accounts that deliver the most effective method for maximizing financial recovery and leads to improved performance of nonaccrual loans and leases to a performing status.
- Manage resolution of non-performing loans and leases by negotiating modifications settlements, collateral reposseses, collateral disposal, deficiency collection activities, litigation activities and negotiation of bankruptcy treatment on bankrupt accounts that result in the best possible solution.
- Work closely with management, senior lenders, lenders, legal counsel and customers or their representatives to ensure company assets are being collected.
- Negotiate with and coordinate recommended strategies with the customer as well as with buy/sell side participants/syndicated partners (if applicable), financial advisors, and/or outside counsel.
- Maintain current knowledge of all laws, regulations and rulings concerning commercial leasing and lending, insolvency, bankruptcy, etc.
- Develop and maintain relationships with outside collection agencies, attorneys, mortgage insurance companies, investors, and vendors.
Other:
- Expected to lead by example in alignment with the Company’s Servant Leadership philosophy.
- Provide direct supervision and leadership for the Customer Recovery Department Manager and manage in consistent alignment with the bank’s performance management expectations.
- Contribute to the bank’s community leadership reputation by being actively engaged in strategic community involvement activities and serving as one of the Company’s leading ambassadors
- Employee will be expected to contribute to a positive working environment through words and actions.
- Employee will be expected to greet internal and external customers in a friendly and outgoing manner.
- Employee will be expected to take responsibility to ensure that internal and external customers receive outstanding service.
- Employee will represent adherence to compliance with laws concerning financial institutions
- Regular and dependable attendance is an essential function of the job.
- Employee may be asked to perform other duties as required by business needs.
Employee will be expected to complete compliance and product knowledge assignments in a timely manner.
Knowledge, Skills, and Abilities:
Knowledge:
- Knowledge of the financial industry including knowledge of the various products, policies, and procedures
- Knowledge of all phases of lending, including the laws and regulations governing business (including SBA), agricultural (including FSA and Farmer Mac experience) and consumer lending
- Knowledge of business financial analysis
- Knowledge of state and federal laws applying to Banks and other financial organizations
- Knowledge of collections and work-out practices and bankruptcy and litigation laws
- Strong working knowledge of leasing and lending functions including pricing, restructuring, documentation, negotiation and extension of credit related to distressed loans and leases.
- An understanding of basic data processing concepts
Skills:
- Possess excellent negotiation, motivation, problem-solving and conflict resolution skills.
- Computer keyboarding and ten key skills
- Skill with Microsoft Office software applications
- Budgeting skills
- Communication and relationship building skills
- Strong writing and oral presentation skills, including the ability to prepare and deliver clear oral and written reports summarizing complex financial, operational, and regulatory information
- Effective use of Service Plus Skills
Abilities:
- Strong leadership abilities
- Ability to motivate employees and delegate authority
- Public relations abilities, including the ability to positively reflect the Company’s image in the community and the marketplace
- Ability to systematically gather, review and interpret data from reports and personnel in order to solve problems and make effective decisions
- Ability to analyze information and use to make sound decisions
- Ability to read, analyze and interpret complex laws, contracts, and documents
- Ability to respond effectively to sensitive inquiries and/or complaints
Secondary Activities and Responsibilities:
- Assist in developing and providing training for lenders and other staff when appropriate.
- Participate with lenders on customer and prospect calls when appropriate.
- Willingly participates in all assigned duties and responsibilities.
Job Qualifications and Requirements:
Minimum Education: Bachelor’s degree in business, or equivalent.
Minimum Experience:15 years of banking experience that includes business and/or agricultural lending, special assets and collections, credit, and financial analysis.
Work Environment and Physical Requirements:
Standing, sitting, or walking for eight hours a day or more. Fine dexterity required to utilize computer keyboards. Visual skills required for computer monitors and related business equipment. May need to do occasional lifting (up to 50 pounds) in preparation for and during community events. Some travel required to visit branch offices and attend industry functions.