Director of Credit and Risk

Remote opportunity - East Coast preferred

This Jobot Job is hosted by: Jessica Davis
Are you a fit? Easy Apply now by clicking the "Apply Now" button and sending us your resume.
Salary: $100,000 - $130,000 per year

A bit about us:

Our client is a wonderful nonprofit organization that is dedicated to promoting community opportunities.

Why join us?

Incredible team based environment where employees are very valued
Strong talent with a great energy where everyone wants to be there
Very collaborative across departments
Great compensation and bonus plan
Excellent benefits that include medical, dental, vision, long term disability,
401K with a strong match
Generous PTO/sick time
Remote

Job Details

POSITION OVERVIEW:
We are seeking a full-time Director of Credit & Risk who will oversee and lead the organization's credit and risk management functions, with a focus on underwriting and portfolio risk management. This role is responsible for developing and implementing lending policies, ensuring compliance with regulatory and internal risk management frameworks, and aligning risk strategies with the organization's goals. The Director will work closely with the CEO, Chief Financial Officer (CFO), and Management Information Systems (MIS) team to manage portfolio performance, maintain appropriate risk tolerance, and support strategic growth initiatives. Additionally, the Director will prepare and present comprehensive critical reports to internal leadership and external stakeholders, including funders, and ensure transparency and accountability in risk and credit management practice.

SUPERVISE: Lending Business Manager, Lending Operations Manager, Small Business Credit Analyst, Loan Administrator

DUTIES & RESPONSIBILITIES:
Team Leadership:
Supervise the Credit & Risk team, including the Small Business Credit Analyst, providing guidance and oversight to ensure consistency and rigor in underwriting activities.
Manage, coach, and develop team members, providing timely feedback and fostering professional growth.
Oversee portfolio management and loan servicing functions to ensure seamless operations and exceptional customer service.

Loan Underwriting & Approval:
Oversee the organization's credit operations, ensuring the timely and effective underwriting, approval, and disbursement of loans, in alignment with the mission while mitigating risk.
Approve loans under a defined threshold, maintaining a balance between risk and mission-driven lending.
Collaborate with both internal credit team and external underwriting partners to develop innovative approaches for evaluating small business loans, including non-traditional credit metrics.

Policy Development & Compliance:
Develop and implement robust credit policies and procedures that align with CDFI industry standards and the organization's mission.
Ensure consistent adherence to lending policies and procedures across the organization.
Monitor market developments and adjust policies as necessary to maintain compliance with all federal, state, and local regulations.
Submit accurate and timely compliance requirements to regulators and funders critical to the mission including SBA, CDFI Fund, etc.

Risk Management Strategy:
Create and implement a comprehensive credit risk management strategy, addressing operational, compliance, and concentration risks.
Monitor portfolio performance and work with teams to reduce delinquency rates and manage loan recoveries.
Work with the MIS team to develop and refine risk management frameworks, including credit scoring models and portfolio risk assessments.
Implement strategies to mitigate risk while supporting the growth of mission-aligned lending programs.

Capitalization & Reporting:
Work closely with the CEO and CFO on debt capitalization strategies and efforts to secure new capital/funding sources.
Prepare quarterly Current Expected Credit Loss (CECL) narratives and ensure the finance team is informed of any significant portfolio changes.
Monitor risk tolerance levels and collaborate with the MIS team to prepare detailed reports for the CEO, board of directors, and external funders.
Assist in the preparation of portfolio-level reports on key metrics such as risk exposure, concentrations, delinquency trends, and growth opportunities

Department KPIs & Progress Tracking:
In collaboration with the MIS team, develop key performance indicators (KPIs) for the Credit & Risk department aligned with organizational goals.
Regularly track and analyze department performance against KPIs and report progress to executive management and the board of directors.
Recommend adjustments to improve performance and ensure the organization is on track to meet lending and risk management objectives.

Technical Assistance (TA):
Provide high-level technical assistance to clients, ensuring sound lending practices and effective portfolio management.
Collaborate with mission-focused organizations to enhance technical assistance offerings for small business clients.
Collaborate internally with Business Advisory and Program teams to ensure alignment, continuity and quality of services for clients related to Technical

QUALIFICATIONS:
Bachelor's degree in finance, accounting, economics, business, or a related field. Master's, MBA, or relevant advanced degree preferred.
7+ years of experience in credit risk management, underwriting, and lending in the Community development Finance Institution (CDFI), banking, or nonprofit finance sectors.
Experience working with SBA Programs such as SBA7a, Microloan, SBA express, Community Advantage.
Proven track record of managing credit and risk functions, including policy development and regulatory compliance.
Proven ability to develop and implement risk management strategies while advancing organizational goals.
Strong understanding of CDFI lending practices and mission-driven lending models.
Demonstrated leadership and management experience, with the ability to lead and develop high-performing teams.
Excellent analytical, communication, and problem-solving skills.
Able to manage multiple initiatives simultaneously with effective prioritization of critical deliverables and deadlines. Experience leveraging project management principles a plus.

Interested in hearing more? Easy Apply now by clicking the "Apply Now" button.

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