Nelnet
Chief Credit Officer, Nelnet Bank
Nelnet, Lincoln, Nebraska, United States, 68511
Nelnet is a diversified and innovative company committed to enriching lives through the power of service as a student loan servicer, professional services company, consumer loan originator and servicer, payments processor, renewable energy solutions, and K-12 and higher education expert. For over 40 years, Nelnet has been serving its customers, associates, and communities.
The perks of working at Nelnet go beyond our benefits package. When you join the Nelnet team, you're part of a community invested in the success of each individual. That support comes through in our work, as we are united by our mission of creating opportunities for people where they live, learn, and work.
The Chief Credit Officer (“CCrO”) is a senior executive officer of the bank that establishes credit and pricing strategy and policy under the direction of the board and CEO in support of the bank’s strategic plan. This position will chair the bank’s credit management committee and subcommittees and report the bank’s credit profile, strategy and risks and opportunities regularly to the bank’s board of directors.
The position establishes credit policy and procedures, provides structure and direction, credit model development and oversight, credit review, and credit approval within Nelnet Bank. In addition, the Chief Credit Officer (CCO) reviews and updates loan policy and procedures as appropriate to maintain the overall credit quality of the Bank’s loan portfolio. The CCO will establish and direct all lending activities, ensure the collections practices are appropriate, ensure fraud is managed and all other credit related functions of Nelnet Bank.
This position will analyze and present for approval the loan loss reserve calculation to credit committee to ensure the bank is adequately reserved for the risk in the loan portfolio. This position is responsible to set pricing of credit products to effectively price for risk and volume goals of the bank. This position will collaborate with the parent company to analyze loan portfolios and risk efficiently and consistently across credit portfolios.
In addition, this position will lead data analysts and other professionals responsible for developing credit models and providing analysis. This position will be particularly focused on the unique facets and products of the bank including related regulatory interactions, operational, technology, servicing, fraud, pricing and underwriting and all other execution required to operate the bank in a safe and sound manner consistent with all regulatory expectations.
Job Responsibilities
Collaborate with CEO in setting and driving organizational excellence that results in a strong credit management profile while delivering an exceptional customer experience, best in class employee satisfaction, and superior shareholder value
Chair Credit Committee and Committee participate
Provide reporting and analytics that engage a member of ALCO, Risk and Compliance, CRA Committees including participation in CECL, Stress Testing, Model Risk and standardized reporting system for credit risk metrics.
Manage best practices to accomplish the bank’s goals within the bank’s risk profile and tolerance.
Establish and own all bank credit risk management strategies, policies & procedures that include full credit life cycle including originations, pricing, account management, substandard loans, delinquencies, collections, loan workouts, and recoveries in alignment with the bank’s risk appetite framework and strategic plan.
Develop a robust automated loan review process to ensure strict adherence to established credit, risk, and compliance policies and procedures.
– Hire and retain a team of talented credit professionals with industry and credit expertise.
Recommends adequate reserve levels for the bank’s loan portfolios.
-Works with the CEO and CFO to deploy the CECL methodology for management of loan loss reserves.
Identify and evaluate economic, regulatory changes and other external factors as well as internal business strategies that could put the bank’s ability to succeed and meet its strategic plan at risk.
Develop and ensure adherence to sound underwriting best practices, laws, and regulations.
Manage all the bank’s lending operations, collection, and fraud activities.
Manage the bank’s loan risk management process to monitor quality control and minimize losses.
Review/analyze/approve all loans as required in the bank’s credit policy.
Inform the President/CEO, Board of Directors, and Credit Committee of any material considerations affecting loan portfolio or policy. Closely align with Risk Management, Compliance and Internal Audit to ensure optimal balance between safe and sound lending practices, compliance, and strategic business objectives.
Review loan portfolio performance for anomalies and policy exceptions and make recommendations that improve the overall loan portfolio performance.
Embrace AI and its ability to compliantly impact the quality of underwriting, monitoring, and reporting
-Collaborate with parent company on a consistent calculation to report on items such as delinquency, loss and cohort performance Additionally, leverage resources, insights and tools from the parent company.
EDUCATION: Bachelor’s Degree in Business Administration, Finance, or other technical related field. Advanced degree and certifications a
plus.
EXPERIENCE: 20+ years broad based consumer and commercial banking experience. Experience in holding senior executive
leadership positions. Extensive experience operating in a highly regulated environment with direct experience interacting with regulators and boards.
COMPETENCIES – SKILLS/KNOWLEDGE/ABILITIES: - In-depth knowledge of designing and executing credit strategies that are strategically focused on risk-balanced asset growth and P&L performance. - Extensive banking and regulatory relations experience - Excellent written and oral communication skills; ability to communicate effectively and project a professional image. - Demonstrated ability to manage multiple priorities while leading team members and working across the organization with colleagues to achieve results. - Strong analytical and problem solving skills, with ability to achieve goals. - Demonstrated aptitude for learning and deploying new technologies. - Effective interpersonal skills with the ability to work with individuals and groups at all organization levels; ability to work independently and as part of a team. - Ability to take initiative and prioritize tasks; good time-management, organizational, problem-prevention and problem-solving skills. - Knowledge and understanding of banking rules, regulations, laws, and all policies and procedures pertaining to them. - Strong analytical ability with active listening skills. - Ability to work accurately with close attention to detail. - Ability to maintain confidentiality of sensitive information.
Our benefits package includes medical, dental, vision, HSA and FSA, generous earned time off, 401K/student loan repayment, life insurance & AD&D insurance, employee assistance program, employee stock purchase program, tuition reimbursement, performance-based incentive pay, short- and long-term disability, and a robust wellness program. Click here to learn more about our benefits: LINK (http://nelnetinc.com/careers/benefits/) .
Nelnet is an Equal Opportunity Employer, complies with Executive Order 11246, and takes affirmative action to ensure that qualified applicants are employed, and that employees are treated during employment, without regard to race, color, religion/creed, national origin, gender, or sex, marital status, age, disability, use of a guide dog or service animal, sexual orientation, military/veteran status, or any other status protected by Federal or State law or local ordinance.
Qualified individuals with disabilities who require reasonable accommodations in order to apply or compete for positions at Nelnet may request such accommodations by contacting Corporate Recruiting at 402-486-5725 or corporaterecruiting@nelnet.net .
Nelnet is a Drug Free and Tobacco Free Workplace.
You may know Nelnet as the nation’s largest student loan servicer – but we do more than that. A lot more. We’re also a professional services company, consumer loan originator and servicer, payment processor, renewable energy innovator, and K-12 and higher education expert (and that’s just a shortlist). For over 40 years, we’ve been serving our customers, associates, and communities to make dreams possible.
EEO Info (https://nelnetinc.com/wp-content/uploads/EEO-poster.pdf) | EEO Letter (https://nelnetinc.com/wp-content/uploads/EEO-Jeffs-Letter.pdf) | EPPA Info (https://nelnetinc.com/wp-content/uploads/Employee-Polygraph-Protection-Act-Poster.pdf) | FMLA Info (https://nelnetinc.com/wp-content/uploads/FMLA-Leave.pdf)
The perks of working at Nelnet go beyond our benefits package. When you join the Nelnet team, you're part of a community invested in the success of each individual. That support comes through in our work, as we are united by our mission of creating opportunities for people where they live, learn, and work.
The Chief Credit Officer (“CCrO”) is a senior executive officer of the bank that establishes credit and pricing strategy and policy under the direction of the board and CEO in support of the bank’s strategic plan. This position will chair the bank’s credit management committee and subcommittees and report the bank’s credit profile, strategy and risks and opportunities regularly to the bank’s board of directors.
The position establishes credit policy and procedures, provides structure and direction, credit model development and oversight, credit review, and credit approval within Nelnet Bank. In addition, the Chief Credit Officer (CCO) reviews and updates loan policy and procedures as appropriate to maintain the overall credit quality of the Bank’s loan portfolio. The CCO will establish and direct all lending activities, ensure the collections practices are appropriate, ensure fraud is managed and all other credit related functions of Nelnet Bank.
This position will analyze and present for approval the loan loss reserve calculation to credit committee to ensure the bank is adequately reserved for the risk in the loan portfolio. This position is responsible to set pricing of credit products to effectively price for risk and volume goals of the bank. This position will collaborate with the parent company to analyze loan portfolios and risk efficiently and consistently across credit portfolios.
In addition, this position will lead data analysts and other professionals responsible for developing credit models and providing analysis. This position will be particularly focused on the unique facets and products of the bank including related regulatory interactions, operational, technology, servicing, fraud, pricing and underwriting and all other execution required to operate the bank in a safe and sound manner consistent with all regulatory expectations.
Job Responsibilities
Collaborate with CEO in setting and driving organizational excellence that results in a strong credit management profile while delivering an exceptional customer experience, best in class employee satisfaction, and superior shareholder value
Chair Credit Committee and Committee participate
Provide reporting and analytics that engage a member of ALCO, Risk and Compliance, CRA Committees including participation in CECL, Stress Testing, Model Risk and standardized reporting system for credit risk metrics.
Manage best practices to accomplish the bank’s goals within the bank’s risk profile and tolerance.
Establish and own all bank credit risk management strategies, policies & procedures that include full credit life cycle including originations, pricing, account management, substandard loans, delinquencies, collections, loan workouts, and recoveries in alignment with the bank’s risk appetite framework and strategic plan.
Develop a robust automated loan review process to ensure strict adherence to established credit, risk, and compliance policies and procedures.
– Hire and retain a team of talented credit professionals with industry and credit expertise.
Recommends adequate reserve levels for the bank’s loan portfolios.
-Works with the CEO and CFO to deploy the CECL methodology for management of loan loss reserves.
Identify and evaluate economic, regulatory changes and other external factors as well as internal business strategies that could put the bank’s ability to succeed and meet its strategic plan at risk.
Develop and ensure adherence to sound underwriting best practices, laws, and regulations.
Manage all the bank’s lending operations, collection, and fraud activities.
Manage the bank’s loan risk management process to monitor quality control and minimize losses.
Review/analyze/approve all loans as required in the bank’s credit policy.
Inform the President/CEO, Board of Directors, and Credit Committee of any material considerations affecting loan portfolio or policy. Closely align with Risk Management, Compliance and Internal Audit to ensure optimal balance between safe and sound lending practices, compliance, and strategic business objectives.
Review loan portfolio performance for anomalies and policy exceptions and make recommendations that improve the overall loan portfolio performance.
Embrace AI and its ability to compliantly impact the quality of underwriting, monitoring, and reporting
-Collaborate with parent company on a consistent calculation to report on items such as delinquency, loss and cohort performance Additionally, leverage resources, insights and tools from the parent company.
EDUCATION: Bachelor’s Degree in Business Administration, Finance, or other technical related field. Advanced degree and certifications a
plus.
EXPERIENCE: 20+ years broad based consumer and commercial banking experience. Experience in holding senior executive
leadership positions. Extensive experience operating in a highly regulated environment with direct experience interacting with regulators and boards.
COMPETENCIES – SKILLS/KNOWLEDGE/ABILITIES: - In-depth knowledge of designing and executing credit strategies that are strategically focused on risk-balanced asset growth and P&L performance. - Extensive banking and regulatory relations experience - Excellent written and oral communication skills; ability to communicate effectively and project a professional image. - Demonstrated ability to manage multiple priorities while leading team members and working across the organization with colleagues to achieve results. - Strong analytical and problem solving skills, with ability to achieve goals. - Demonstrated aptitude for learning and deploying new technologies. - Effective interpersonal skills with the ability to work with individuals and groups at all organization levels; ability to work independently and as part of a team. - Ability to take initiative and prioritize tasks; good time-management, organizational, problem-prevention and problem-solving skills. - Knowledge and understanding of banking rules, regulations, laws, and all policies and procedures pertaining to them. - Strong analytical ability with active listening skills. - Ability to work accurately with close attention to detail. - Ability to maintain confidentiality of sensitive information.
Our benefits package includes medical, dental, vision, HSA and FSA, generous earned time off, 401K/student loan repayment, life insurance & AD&D insurance, employee assistance program, employee stock purchase program, tuition reimbursement, performance-based incentive pay, short- and long-term disability, and a robust wellness program. Click here to learn more about our benefits: LINK (http://nelnetinc.com/careers/benefits/) .
Nelnet is an Equal Opportunity Employer, complies with Executive Order 11246, and takes affirmative action to ensure that qualified applicants are employed, and that employees are treated during employment, without regard to race, color, religion/creed, national origin, gender, or sex, marital status, age, disability, use of a guide dog or service animal, sexual orientation, military/veteran status, or any other status protected by Federal or State law or local ordinance.
Qualified individuals with disabilities who require reasonable accommodations in order to apply or compete for positions at Nelnet may request such accommodations by contacting Corporate Recruiting at 402-486-5725 or corporaterecruiting@nelnet.net .
Nelnet is a Drug Free and Tobacco Free Workplace.
You may know Nelnet as the nation’s largest student loan servicer – but we do more than that. A lot more. We’re also a professional services company, consumer loan originator and servicer, payment processor, renewable energy innovator, and K-12 and higher education expert (and that’s just a shortlist). For over 40 years, we’ve been serving our customers, associates, and communities to make dreams possible.
EEO Info (https://nelnetinc.com/wp-content/uploads/EEO-poster.pdf) | EEO Letter (https://nelnetinc.com/wp-content/uploads/EEO-Jeffs-Letter.pdf) | EPPA Info (https://nelnetinc.com/wp-content/uploads/Employee-Polygraph-Protection-Act-Poster.pdf) | FMLA Info (https://nelnetinc.com/wp-content/uploads/FMLA-Leave.pdf)