Type: Full-time



Merchants Bank established in 1875 is a growing, employee-owned company, dedicated to a philosophy of community banking with total company wide assets of over $2.5 billion.  As a result of an upcoming retirement of a key organizational leader, we are seeking a Senior Vice President/Chief Credit Officer.

The Chief Credit Officer has responsibility for the overall management of the Bank’s loan portfolio, loan approval system, loan documentation and credit administration functions.  The individual will exercise appropriate credit risk management and ensure all lending and credit administration activities are compliant and within defined Board-approved risk tolerance expectations.  As part of the Executive Leadership Team, the individual will participate in the establishment of the company’s strategic plan and its implementation with all other members of the Executive Team with the responsibility to manage the Bank’s credit function in a manner consistent with the company’s community banking vision, mission, lending philosophy.

For full position requirements and specifications, interested candidates should contact (in confidence) David Magy – (952) 404-5085 – david@abelnmagy.com or Annette Villamil – (952) 404-5086 – annette@abelnmagy.com.

 

Position Summary

This is an Executive Leadership Team position with responsibility for the overall management of the Bank’s loan portfolio, loan approval system, loan documentation and credit administration functions. Will exercise appropriate credit risk management and ensure all lending and credit administration activities are compliant and within defined Board-approved risk tolerance expectations. Participates in the establishment of the Company’s strategic plan and its implementation with all other members of the Executive Team with the responsibility to manage the Bank’s credit function in a manner consistent with the Company’s community banking vision, mission, lending philosophy.

Essential Duties and Responsibilities:

  • Principal responsible for overall asset quality of the Company as a fundamental driver of the safety and soundness of the institution
  • Principal responsible for establishing credit risk philosophy and appropriate credit risk monitoring & mitigation systems for a growing community banking organization
  • Establishes lending policies, underwriting standards, and internal lending controls in alignment with evolving industry practices. Oversees all lending activity to ensure policies and regulatory compliance standards are adhered to, and assists in maintaining the Company’s reputable standing with all regulatory agencies.
  • Develops, maintains, and monitors all credit policies for the Company
  • Develops, maintains, and monitors the Company’s loan risk rating systems and loan concentration levels.
  • Develops, maintains, and monitors the Company’s credit authority and loan committee approval structure in alignment with appropriate risk management and credit decisioning responsiveness
  • Monitors new developments in lending and changing government regulations, ensuring that all credit administration and lending staff are kept informed, and that Company policies are modified accordingly
  • Analyzes economic, market, and industry trends regarding new products, services, and policies, and recommends appropriate Company response.
  • Partners with CEO in driving consistent performance and credit culture expectations within Company’s defined regional/market structure; maintains active dialogue and engagement with Regional Presidents & Senior Lending Officers
  • Facilitates regular meetings with Regional Presidents & Senior Lending Officers to make sure credit administration and policy expectations are adhered to and evolve as appropriate with the ongoing growth of the Company
  • Participates in all Strategic Planning activities for the Company and embraces ownership of appropriate strategic execution priorities as assigned
  • Serves as a voting member of the Executive Leadership Team which is responsible for maintaining the Company’s values-based culture and meeting defined commitments to all identified key stakeholders: Customers, Employees, Communities and Shareholders
  • Expected to lead by example in alignment with the Company’s Servant Leadership philosophy
  • Provides direct supervision and leadership for Credit Administration, Loan Servicing, & Collections Managers; manages direct reports in consistent alignment with Company’s performance management expectations
  • Serves as an Ex-Officio (non-voting) member of the Company’s governing boards for Merchants Financial Group, Inc., and Merchants Bank, N.A.
  • Serves as an Ex-Officio (non-voting) member of the Company’s Board Committees for Risk, Audit/Compliance, and Governance
  • Serves as a voting member of the Company’s Enterprise Risk Management Committee
  • Serves as a voting member of the Company’s Asset-Liability Management Committee (ALCO); contributes to development of and adherence to appropriate loan pricing disciplines within construct of prudent ALCO guidelines
  • Contributes to the Company’s community leadership reputation by being actively engaged in strategic community involvement activities and serving as one of the Company’s leading ambassadors
  • Employee will be expected to contribute to a positive working environment through words and actions.
  • Employee will be expected to greet internal and external customers in a friendly and outgoing manner.
  • Employee will be expected to take responsibility to ensure that internal and external customers receive outstanding service.
  • Employee will represent adherence to compliance with laws concerning financial institutions
  • Regular and dependable attendance is an essential function of the job.
  • Employee may be asked to perform other duties as required by business needs.

Knowledge, Skills, and Abilities:

Knowledge:
  • Knowledge of the financial industry including knowledge of the various products, policies, and procedures
  • Knowledge of all phases of lending, including the laws and regulations governing business (including SBA experience), agricultural (including FSA and Farmer Mac experience) and consumer lending
  • Knowledge of business financial analysis
  • Knowledge of state and federal laws applying to Banks and other financial organizations
  • Knowledge of collections and work-out practices
  • An understanding of basic data processing concepts
Skills:
  • Computer keyboarding and ten key skills
  • Skill with Microsoft Office software applications
  • Budgeting skills
  • Communication and relationship building skills
  • Strong writing and oral presentation skills, including the ability to prepare and deliver clear oral and written reports summarizing complex financial, operational and regulatory information
  • Effective use of Service Plus Skills

Abilities:

  • Strong leadership abilities
  • Ability to motivate employees and delegate authority
  • Public relations abilities, including the ability to positively reflect the Company’s image in the community and the marketplace
  • Ability to systematically gather, review and interpret data from reports and personnel in order to solve problems and make effective decisions
  • Ability to analyze information and use to make sound loan decisions
  • Ability to read, analyze and interpret complex laws, contracts and documents
  • Ability to respond effectively to sensitive inquiries and/or complaints

Secondary Activities and Responsibilities:

  • Monitors and assist in developing enhanced credit training for all lenders.
  • Participates with lenders on customer and prospect calls, when appropriate.
  • Monitors document exception management by lenders.
  • Participates in the Company’s business development program on a selective basis.
  • Willingly participates in all assigned duties and responsibilities.

Specific Performance Objectives:

The following specific performance objectives are expected for the Chief Credit Officer:

  • Member of Senior Management team of the Holding Company.
  • Chairs Management Loan Committee.

Job Qualifications and Requirements:

Minimum Education

Bachelor’s degree in business, or equivalent.

Minimum Experience:

15 years progressively responsible supervisory/management experience in a financial institution, including 15 years in business and/or agricultural lending, and leasing.  Additional executive banking/financial education desired but not required.


Work Environment and Physical Requirements:

Standing, sitting, or walking for eight hours a day or more.  Fine dexterity required to utilize computer keyboards.  Visual skills required for computer monitors and related business equipment.  May need to do occasional lifting (up to 50 pounds) in preparation for and during community events.  Some travel required to visit branch offices and attend industry functions.




Merchants Bank is an Equal Opportunity Employer of women, minorities, protected veterans and individuals with disabilities.