Description
This leadership position is responsible for directing and managing all facets of the Secured Credit Department, with a mission to monitor collateral for the bank's larger and more complex commercial accounts. The functions of the department include appraisal management, construction loan advance approval, secured (asset-based) lending monitoring, and dealer floor plan administration. The Secured Credit Manager also serves as the environmental risk officer for the bank. The position demands expertise in financial statement analysis, valuation methodology, and perfection of security interests. The Secured Credit Manager possesses broad decision-making authority and must act independently.
Essential Job Responsibilities
1. Provides leadership and direction to Secured Credit staff and is responsible for all facets of the department.
2. Designs and delivers training programs, including cross-training on credit analysis as necessary.
3. Authors Real Estate Policy, Secured Lending Policy, and Dealer Floor Plan Policy, along with Secured Credit Procedures.
4. Designs internal control environment and provides attestation in compliance with the Sarbanes-Oxley Act.
5. Negotiates and maintains service level agreements with line of business units, setting forth expectations regarding priorities and performance metrics.
6. Anticipates, fields, and addresses client concerns; including direct interaction with executives of borrowers
7. Performs review and analysis of environmental studies. Exercises decision-making authority regarding proceeding with transactions where Recognized Environmental Conditions or other concerns have been identified. Maintains a thorough understanding of current environmental laws and procedures. Must maintain sufficient knowledge to interact with environmental professionals.
8. Assists lenders and Credit Administration in crafting deal structure, terms, and conditions.
9. Serves as a resource for Senior and Officers' Loan Committees, either in advance of or during meetings.
10. Takes responsibility for the “Secured Credit Comments” section of the credit packet, providing the loan adjudicator with evaluation of the nature and quality of the proposed collateral, including aging and concentration analysis. Provides recommendations regarding structural changes or other resolution of collateral deficiencies.
11. Prepares and presents monthly or quarterly reporting to Senior Loan Committee and the credit committee of the board, highlighting areas of greatest risk of loss. This includes a predictive model to determine the adequacy of interest reserves on construction projects over the remaining duration of the project.
12. Creates and maintains numerous Excel templates, including for construction budget tracking, borrowing base reporting, and discounted cash flow analysis.
13. Serves on integration teams for new bank acquisitions as assigned.
14. Negotiates various vendor contracts for professional services and software systems.
15. Maintains in-depth knowledge of the core loan system to facilitate investigation of coding anomalies and other issues.
16. Assists Loan Documentation and Loan Upload with proper documentation and boarding of monitored loans.
17. Occasionally travels to meet with clients or inspect problem construction projects.
18. Develops tracking systems as warranted.
19. Continually evaluates opportunities for efficiency, particularly regarding new systems or processes.
20. Responds directly to inquiries from internal and external auditors and examiners.
21. Prepares department budget and determines appropriate resource needs, subject to approval of Senior Credit Officer.
Appraisal Management Specific
1. Owns the Approved Appraiser List. Includes vetting and selecting new vendors, ongoing monitoring of vendor performance and credentials, and removing vendors from the list.
2. Determines appropriate scope for appraisal engagements and maintains appraiser contract form. Considers unique requirements of the Small Business Administration when applicable.
3. Determines appraisal review scope and maintains appraisal review form.
4. Serves as content administrator for the RIMS appraisal management platform. Responsibilities include configuration and testing of new releases.
5. Demonstrates strong understanding of major valuation methods: cost approach, sales comparison approach, and income approach (direct capitalization and yield capitalization).
6. Performs review and analysis of the most complex appraisals to ensure compliance with current Interagency Appraisal and Evaluation Guidelines and Uniform Standards of Professional Appraisal Practice. May render judgments regarding capitalization rates applied or methodologies employed.
7. Manages re-appraisal process, including determination of scheduling,
Construction Loan Specific
1. Owns the Approved Inspectors List.
2. Determines necessary scope of inspections for a given project based on project type, complexity, and borrower and contractor experience.
3. Exercises exception authority related to procedural advance approval requirements.
4. Maintains up-to-date knowledge of mechanics' lien law and other aspects of construction law across all applicable states.
5. Understands various forms of construction contracts and evaluates the contractor's application and certificate for payment.
6. Approves advances on large construction projects. Evaluates construction budget to ensure that line items are within tolerance and sufficient funds will be available to complete the project. Monitors for construction delays, real estate liens, and conformance to plans and specifications.
Secured Lending Specific
1. Oversees the verification of borrowing capacity for formula-based lines of credit after careful and thorough analysis of the client's trading assets. This process involves review of borrowing base certificates submitted by the client and analysis of supporting schedules such as accounts receivable listings, accounts payable listings, and inventory reports.
2. Ensures appropriate freezes are placed on the loan system to minimize the risk of over-advances and potential losses due to collateral shortfalls.
3. Identifies and vets acceptable field examination firms.
4. Sets field examination scope and reviews field examination reports.
Dealer Floor Plan Specific
1. Exercises authority for loan exceptions related to vehicle valuation, model year, mileage, supporting documentation, over-line advances (10%), over-sublimit advances (unlimited), and expired lines.
2. Maintains up-to-date knowledge on industry trends and vehicle models to assist in unique valuations, identification of emerging threats and opportunities, and interaction with dealer customers.
3. Reviews and analyzes floor plan audit reports to identify early warning signs of financial deterioration and/or adverse trends that might present incremental credit risk. Applies a risk-based approach to determine audit frequency.
4. Maintains understanding of Article 9 of the Uniform Commercial Code (UCC) and verifies termination of UCC filings following takeover funding.
5. Designs new Collateral Types for the loan system as necessary.
6. Participates in regular loan system maintenance calls. Attends conferences to learn new loan system features as warranted. Designs and implements testing for Secured Credit-related aspects of new loan system releases.
Bona Fide Occupational Qualifications
1. A Bachelor's degree in Finance or Accounting is required. MBA is preferred.
2. Specialized training and education relating to trading asset monitoring and valuation.
3. Thorough knowledge of real estate appraisal methodology, including proficient at discounted cash flow analysis and investment theory.
4. Working knowledge of financial institution regulatory environment specifically related to C&I and Commercial Real Estate lending.
5. Demonstrated leadership with ability to motivate in a dynamic team environment.
6. Proficient analytical and mathematical skills, excellent verbal and written communication skills, proficient in Microsoft Office, including Word and Excel. Requires ability to build complex models.
7. Valid driver's license and ability to travel to necessary locations.
Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities
The contractor will not discharge or in any other manner discriminate against employees or applicants because they have inquired about, discussed, or disclosed their own pay or the pay of another employee or applicant. However, employees who have access to the compensation information of other employees or applicants as a part of their essential job functions cannot disclose the pay of other employees or applicants to individuals who do not otherwise have access to compensation information, unless the disclosure is (a) in response to a formal complaint or charge, (b) in furtherance of an investigation, proceeding, hearing, or action, including an investigation conducted by the employer, or (c) consistent with the contractor’s legal duty to furnish information. 41 CFR 60-1.35(c)
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