Lendistry
VP Credit Risk Review
Lendistry, Los Angeles, CA
ABOUT LENDISTRY
Lendistry is the country's largest minority-led and technology-enabled small business and commercial real estate lender with Community Development Financial Institution (CDFI) and Community Development Entity (CDE) certification. We are a national employer whose mission is to provide economic opportunities and progressive growth for small business owners and their underserved communities as a source of financing and financial education.
POSITION OVERVIEW
The Vice President of Credit Risk Review is part of Lendistry's Risk Management Organization, functioning as a Third Line of Defense ("TLoD") to independently assess the effectiveness of the First and Second Lines of Defense's Risk Management Activities to identify, measure, monitor, and control risks. The Credit Risk Review ("CRR") team fulfills the responsibilities of the Credit Review (or Loan Review) function of Lendistry, consistent with the May 2020 Interagency Guidance on Credit Risk Review Systems. Through examinations and monitoring, Credit Review provides an independent assessment of credit decisions, portfolio management, and the effectiveness of credit processes across the Company's credit platform, identifies existing and emerging risks, and reports its findings to various stakeholders, including the Chief Risk Officer, Chief Executive Officer, and Risk Management Committee.
The position requires an individual who has a track record of excellence in both Commercial and Industrial ("C&I") and Commercial Real Estate ("CRE") lending, ideally gained in underwriting, deal structuring, second-line credit adjudication or credit review function, or a combination thereof. The candidate must demonstrate solid expertise in credit analysis, financial and quantitative analysis, deal structuring, and determination of risk rating (including familiarity with PD / LGD rating models and methodology and use of scorecards). In addition, knowledge and insights into the economic environment and its impact on different industry sectors, awareness of competitive dynamics in the financial services sector, experience with higher risk credits, working knowledge of Small Business Administration ("SBA") requirements, and the intellectual curiosity to learn will be key success factors in the role and help facilitate career growth.
The candidate's technical expertise will be complemented by excellent communication skills (both verbal and written) and the ability to successfully engage in complex discussions with unit heads of business divisions being audited (auditees).
GENERAL RESPONSIBILITIES
PROFICIENCIES
EDUCATION AND EXPERIENCE
SALARY
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)
Lendistry is the country's largest minority-led and technology-enabled small business and commercial real estate lender with Community Development Financial Institution (CDFI) and Community Development Entity (CDE) certification. We are a national employer whose mission is to provide economic opportunities and progressive growth for small business owners and their underserved communities as a source of financing and financial education.
POSITION OVERVIEW
The Vice President of Credit Risk Review is part of Lendistry's Risk Management Organization, functioning as a Third Line of Defense ("TLoD") to independently assess the effectiveness of the First and Second Lines of Defense's Risk Management Activities to identify, measure, monitor, and control risks. The Credit Risk Review ("CRR") team fulfills the responsibilities of the Credit Review (or Loan Review) function of Lendistry, consistent with the May 2020 Interagency Guidance on Credit Risk Review Systems. Through examinations and monitoring, Credit Review provides an independent assessment of credit decisions, portfolio management, and the effectiveness of credit processes across the Company's credit platform, identifies existing and emerging risks, and reports its findings to various stakeholders, including the Chief Risk Officer, Chief Executive Officer, and Risk Management Committee.
The position requires an individual who has a track record of excellence in both Commercial and Industrial ("C&I") and Commercial Real Estate ("CRE") lending, ideally gained in underwriting, deal structuring, second-line credit adjudication or credit review function, or a combination thereof. The candidate must demonstrate solid expertise in credit analysis, financial and quantitative analysis, deal structuring, and determination of risk rating (including familiarity with PD / LGD rating models and methodology and use of scorecards). In addition, knowledge and insights into the economic environment and its impact on different industry sectors, awareness of competitive dynamics in the financial services sector, experience with higher risk credits, working knowledge of Small Business Administration ("SBA") requirements, and the intellectual curiosity to learn will be key success factors in the role and help facilitate career growth.
The candidate's technical expertise will be complemented by excellent communication skills (both verbal and written) and the ability to successfully engage in complex discussions with unit heads of business divisions being audited (auditees).
GENERAL RESPONSIBILITIES
- The VP / Credit Review Leader is primarily responsible for the day-to-day delivery of credit review work on the audit they have been assigned to, including conducting necessary research, coordinating, and contributing to the management of the assigned projects.
- Perform a comprehensive credit review of a judgmentally selected sample of higher-risk commercial credits. The credits will involve loans from various business platforms and industries.
- Use credit and financial analysis expertise to examine and opine on the quality and adequacy of underwriting, including analysis of borrowers' operational and financial strengths/weaknesses, cash flow, leverage, liquidity and net worth, competitive positioning, and external/industry factors impacting the business.
- Review credits and hold discussions with the underwriting and Credit Administration teams as required to opine on comprehensiveness in underwriting relative to risk identification and mitigation (financial and business risks), deal structure, and collateral analysis and take all analyzed factors into account to opine on the appropriateness of the credit risk rating assigned to the borrower.
- As necessary, engage in discussions with underwriting and credit administration teams to communicate the decision to downgrade the risk rating of reviewed credits.
- Use Risk-Based Audit principles to review governance, risk, and control frameworks/processes, including reviewing credit policies and procedures, identifying process risks and controls, assessing controls, and sample-testing them.
- Responsible for writing exam reports and applying exam rating methodology to generate exam report ratings, with guidance from a manager.
- Act as the Examiner in Charge ("EIC") on credit reviews, managing the end-to-end execution exams, including planning and sampling, training reviewers, overseeing fieldwork, and reporting process.
- Drive the Issues Management Tracking process of exams, including Issue Remediation Testing and closure process activities.
- Supports Continuous Monitoring activities, including regular communication with the Lending Unit, participation in key Lending Unit meetings, monitoring Key Risk Indicators ("KRIs"), and review of Lending Unit reports.
- Discuss exceptions/issues with the Chief Risk Officer, draft findings, and engage in discussions with auditees to communicate findings.
- Understand the underlying risks applicable to audit responsibilities through continuous monitoring activities. Strong credit risk, audit, compliance, banking, and product knowledge are required.
- Review and prepare ongoing risk assessments of the Company's business platforms (auditable entities).
- Maintain updated knowledge of industry developments in affected areas of assigned responsibilities.
- Complete audit recommendation validation work.
- Communicate effectively, clearly, concisely, and accurately using written and verbal communication with all levels of management.
- Perform other duties as assigned.
PROFICIENCIES
- Ability to support conclusions through fact-based analysis and ability to influence senior leaders
- Excellent credit analysis, project management, and leadership skills
- Strong organizational and communication skills, both written and verbal
- Ability to manage multiple complex tasks while delivering high-quality results
- Drives the Issues Management Tracking process of exams for which they have acted as Crew Chief, including Issue Remediation Testing and closure process activities, with Sr. Manager support
- Assist with special projects assigned by Credit Review Sr. Managers, Sr. Managing Director, or Head of Credit Review.
EDUCATION AND EXPERIENCE
- A minimum of 10 years of credit and credit review experience is preferred, but competent candidates with solid potential and less experience are also encouraged to apply.
- Bachelor's Degree with a preference in finance, accounting, economics, or other business concentration
- A commercial credit background and expertise in credit analysis/underwriting are required. Additionally, experience in credit review or credit audit is highly desirable.
- Strong knowledge of GAAP principles And Regulatory and banking Policies and Procedures.
- Experience in first-line underwriting and second-line credit risk management/ adjudication or loan review is required.
- License(s) or Certification(s) in Certified Internal Auditor ("CIA"), Certified Public Accountant ("CPA"), or Certified Regulatory Compliance Manager ("CRCM") desired, but not required.
- Working expertise with Microsoft Office software, especially Excel, PowerPoint, and Word.
- Credit expertise must include at least three of the following segments - C&I; CRE; financial statement analysis; loan underwriting and structure; valuation; highly leveraged transactions; accounting standards; Uniform Commercial Code; capital markets and other non-traditional credit areas, including off-balance sheet credit risk; etc.
SALARY
- $143,000 - $188,000/annually, depending on experience and location
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)