Lead Credit Risk Strategist

4 weeks ago

Ontario, Oregon, Canada Copperfin Credit Union Full time

Senior Manager, Credit Risk

Full-time Position

Company Overview

Copperfin is the largest locally owned credit union in Northwestern Ontario, dedicated to enhancing the lives of the individuals and communities we serve. Our mission is to empower our Members' financial well-being by providing them with the best financial tools to achieve their aspirations.

Position Overview

We are seeking a dedicated and proactive individual for the full-time role of Senior Manager, Credit Risk. This position may operate in a virtual or hybrid format to serve our Northern Ontario market as needed.

Reporting directly to the VP, Advice & Member Experience, the Senior Manager, Credit Risk will spearhead our credit risk management initiatives. The ideal candidate will be instrumental in formulating, maintaining, and executing credit policies and procedures to ensure outstanding credit performance within defined benchmarks. This role will encompass the establishment of credit and administrative policies, underwriting strategies, and workflows to guarantee adherence to credit policies and regulations.

The Senior Manager, Credit Risk will also mentor and guide Copperfin's leaders and team members on credit quality and advice, while managing risk, profitability, and efficiency to ensure exceptional member service, quality loan growth, and organizational security. Key responsibilities include:

Leadership & Organizational Development:

  • Engage in organizational planning and strategic decision-making.
  • Foster commitment to organizational strategy, mission, goals, and risk tolerance.
  • Guide, mentor, and develop team members, cultivating an environment that encourages continuous improvement and learning.
  • Assist lending teams in overseeing and managing overdrafts, delinquencies, lines of credit, and write-offs in accordance with policy and targets.
  • Contribute to the Asset Liability Management (ALM) and Enterprise Risk Management (ERM) committees by offering insights on product pricing, interest rates, processes, and controls.
  • Establish and implement goals and objectives that align with corporate strategy.
  • Collaborate effectively with leaders and teams to achieve operational excellence.
  • Lead initiatives aimed at enhancing processes, accountability, and continuous improvement.
  • Act as a liaison for internal and external audits.
  • Serve as a backup for credit decision-making for the Advice & Member Experience Team.
  • Provide input and adjudication on complex credit requests as part of the Management Authorization Committee.

Credit Risk Management:

  • Develop and oversee credit policies and procedures to ensure compliance with regulatory requirements and internal risk management standards.
  • Guarantee effective implementation of credit policies and efficient underwriting to drive profitability and superior member experience.
  • Manage a robust quality control monitoring and improvement process.
  • Analyze qualitative and quantitative data to evaluate credit applications and proposals.
  • Assess and provide recommendations on new and existing credit proposals, identifying risks and suggesting mitigation strategies.
  • Ensure timely and well-documented credit decisions within the agreed timeframe.
  • Contribute to the structuring of new credit products and services.
  • Identify and advise on early warning signals of deteriorating risks.
  • Prepare summary reports and information for leadership, Board, committees, regulators, and auditors.
  • Monitor and update data warehouse reports for accurate credit risk management.
  • Lead the collections process to ensure appropriate provisioning and loss mitigation.
  • Manage a portfolio of accounts for larger, more complex commercial-borrowing members.

Qualifications

  • Post-Secondary degree or diploma in finance, business administration, or accounting &/or equivalent experience.
  • 5-10 years of experience in credit underwriting.
  • Extensive knowledge of credit union products and services.
  • Understanding of Credit Union philosophies and principles.
  • Exceptional analytical and decision-making skills based on effective risk assessment and management.
  • Excellent verbal and written communication abilities.
  • Proven ability to positively influence and train team members.
  • Strong interpersonal skills and capacity to engage at all organizational levels.
  • Ability to manage multiple complex priorities within demanding timelines in a dynamic environment.
  • High proficiency in computer applications, including Outlook, Word, and Excel.

Working Conditions

  • May require extended hours or weekend work.
  • Must be proactive in continuing education and staying informed about industry changes.
  • Must be able to meet deadlines.
  • May involve travel.

Compensation

The salary for this position will be commensurate with the skills and experience of the successful candidate.

Future Developments

We are excited to announce that Copperfin Credit Union will be merging with Northern Credit Union. As a result of this merger, roles, responsibilities, and reporting structures associated with this position may be subject to change during the organizational design process. Further details will be provided as they become available.

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