Strategic Credit Risk Manager

2 days ago

London, Ontario, Canada VersaBank Full time

We are seeking an exceptional Strategic Credit Risk Manager to join our team at VersaBank. With a strong focus on assessing and managing credit risk, this role will play a crucial part in the financial health and stability of the bank.

Company Overview

VersaBank is a Schedule 1 Chartered Bank with over $4.3 billion in assets, operating as a branchless financial institution that obtains its deposits and provides most of its loans and leases electronically. Our Common Shares trade on the Toronto Stock Exchange and Nasdaq under the symbol VBNK, and our Series 1 Preferred Shares trade on the TSX under the symbol VBNK.PR.A.

We are currently looking for an experienced professional to fill this key position in our Credit Risk team. This role will be located in London, Ontario, and will report directly to our Chief Credit Officer.

Job Description

The Strategic Credit Risk Manager will be responsible for managing the day-to-day activities in the credit department with a focus on assessing and managing credit risk for the Point-of-Sale (POS) business unit. This role will work closely with the Chief Credit Officer to ensure that potential risks are identified, measured, mitigated, and reported as per regulatory requirements and internal protocols.

The ideal candidate will have a Bachelor's degree in business, finance, accounting, or a related field, and at least 7 years of experience in credit, risk management, and lending positions, with particular focus on leasing and consumer financing. The salary range for this position is estimated to be between $120,000 and $180,000 per annum, depending on experience.

Responsibilities

  • Credit Underwriting and Funding Supervision:
    • Provide constructive feedback to lenders on new lending opportunities.
    • Provide advice and/or observations on all credit submissions and related documentation, primarily from the standpoint of credit risk.
    • As second line of defense, challenge account management's assumptions to ensure recommended credit structure adequately mitigates applicable risks.
    • Identify underlying areas of concern within the portfolio such as specific credit tiers, asset, industry etc., and provide analysis to objectively demonstrate the same.
    • Complete ad hoc excel modeling as needed to ensure identified risks are adequately mitigated.
    • Review funding submissions to ensure approved credit criteria are met and that required security is in place.
  • Credit Policies and Procedures:
    • Assist the CCO with the ongoing and annual maintenance and amendments of the credit policies and the credit and portfolio management procedures by providing recommendations, preparing and presenting to CCO, President and CEO, and committees for approval if necessary.
    • Provide constructive input to changes in policy regarding concentration levels (i.e. Large Exposure Policy, Asset Concentration Policy, Industry Limit Policy).
  • Reporting:
    • Assist the CCO with the preparation and presentation of materials for Risk Oversight Committee meetings, primarily, reporting regarding the POS business unit and Loan Portfolio Tracking.
    • Develop and maintain a reporting structure with the CCO to keep senior management abreast of trends and risks in the POS business unit.
    • Assist with departmental reporting and compliance requirements.

Qualifications

  • Bachelor's degree in business, finance, accounting, or a related field or equivalent work experience.
  • At least 7 years of experience with progressive responsibility in credit, risk management, and lending positions, with particular focus on leasing and consumer financing.
  • CFA or MBA considered an asset.
  • Strong working knowledge of Microsoft applications, with emphasis on using Excel and/or Power BI for data mining and modeling.
  • Experience in financial statement, credit and collateral analysis across various debt asset classes.
  • Demonstrated expertise in credit and financial risk analysis, and strong understanding of lease financing and documentation.
  • Advanced experience in lease vendor relationships and assignment agreements.
  • Understanding and experience with anti-money laundering and anti-terrorist financing legislation, regulations, and requirements.
  • Excellent communication skills, with the ability to develop concise summaries of complex analyses and data appropriate for various levels of consumption across the Bank.
  • Superior analytical and problem-solving skills, with the ability to prioritize and resolve issues as they arise.
  • Highly attention to detail and a drive to deliver high-quality results.
  • Ability to bring sound business judgement to decisions and evaluations.
  • Responsive to the needs of stakeholders, and an acute awareness of the impact of actions.

Benefits

We offer excellent career advancement opportunities, an informal, positive work environment, and a very competitive compensation package that includes base salary, outstanding benefit package, tuition refund program, pension supplement, fitness club membership, and participation in an attractive incentive award program.

Others

If you are a motivated and experienced professional looking for a challenging role, please submit your application for this exciting opportunity to join our team at VersaBank.

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