Vice President, Credit

2 weeks ago


London, Ontario, Canada Libro Credit Union Full time
Career Opportunity

Libro is growing - and Libro is hiring.

Our expansion plans include a series of new hires across southwestern Ontario. Take a look.

Who We Are

Imagine working for an organization where every employee and customer is an Owner.

No matter whether a customer Owner or employee Owner, everything we do at Libro is about helping people prosper.

We recruit and develop experts like you; Epic Humans who are ready to offer the best possible advice, coaching and service, when and how our Owners need it.

What Opportunity Awaits?


As we continue to grow progressively, Libro is on a mission to find a passionately accountable VP Credit at our London Administration office.


Reporting to the Chief Risk Officer, the VP Credit provides overall leadership to establishing credit risk management governance frameworks and standards.

This entails the responsibility to review and approve/recommend credit transactions within the assigned delegated lending authority (DLA) in line with the credit union's enterprise strategy, and Risk Appetite.

This role is responsible to monitor and analyze portfolio quality, including the watch list and non-performing accounts.

This role also oversees the compliance with credit risk regulation, industry concentration limits and other monitoring limits, caps and matrices and reports any emerging risks to the relevant risk committees within the credit union's risk governance framework.

It also develops and maintains credit risk policies within the credit risk appetite of the Credit Union.

Leadership Principles:

Agile, Bold, Inspiring, One Team, Accountable, member-centric

Listening, Understanding and Responding

Self Confidence

Achieving Results Through People

Inspiring Others through Coaching

Problem Solving and Judgment

Decision-Making on the Job

Alignment and Focus

Teamwork and Cooperation

Key Duties & Responsibilities - Position Accountabilities:

Ensure the strategic direction for credit risk management practices is within the risk tolerances and growth objectives established by the Board and the Executive Leadership Team (ELT).


Identify, develop, maintain and amend credit risk corporate policies, procedures and processes required to effectively adjudicate enterprise credit exposure within the credit risk appetite.

Work with business units to enable implementation of business strategies and to optimize the growth and return opportunities available within company risk tolerances.

Participate in the assessment of new business line opportunities and initiatives to oversee the analysis of credit risk factors and recommend structure required to maintain the Company's credit risk standards.

Oversee the quality of the credit portfolio within the risk appetite.

Approve loan and transactions within assigned DLA.

Responsible for the credibility and reliability of the borrower risk rating models.

Work with the Business to ensure appropriate training is in place for front office lenders.


Opine on the level of credit limits delegated to first line business unit staff as part of the DLA sign off process.


Monitor effectiveness of lending process by conducting post approval reviews and adjusting processes and recommending changes to policies as required.


Oversee, monitor and report on the quality of the credit portfolio as measured by key risk performance indicators within the credit risk appetite.


Review and provide input on industry reviews and recommend industry concentration limits as it applies to the credit performance and quality of the portfolio.


As a People Leader, coach individuals and teams to develop and grow in their roles, to perform at a higher level and to embrace change; inspires others; builds motivated, high performing teams; understands what motivates different people.

Ensure appropriate management of the loan portfolio and adequacy of specific loan loss provisioning.


Provide guidance to special account management unit on the management of problem loans by providing input on strategies to reduce risk of loss and determine appropriate work out strategy and provisions.

Assess specific loss anticipated on impaired accounts utilizing input of business units, experienced judgment and methodology established by regulators.

Review adequacy of write-offs.

Comply with standards established by FSRA and other regulators.

Report on credit risk condition of the credit portfolio, including emerging risks and significant events and the portfolio strategy, including:

Portfolio quality, trends, diversification, NPL and delinquency rates, single name exposures and adherence to regulatory/ internal credit risk monitoring caps and matrices.

Large exposures and specific industry concentrations.


Status and management of the monitored and non-productive loans along with assessment of the appropriateness of specific reserves in place.


Technical Knowledge and Competencies:

Advanced knowledge and experience with all aspects of credit including commerci

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