Sr Credit Officer - Morristown, NJ
Valley National Bancorp, Convent Station, NJ, United States
Back Sr Credit Officer #26-264 Morristown, New Jersey, United States Apply X Facebook LinkedIn Email Copy Expected Work Hours 40 Job Description Responsibilities include but are not limited to:
Carries a substantial amount of approval authority for commercial credit requests where total exposure exceeds $1,500,000 in all portfolios (retail, commercial - industrial, real estate and leasing) Review (and sponsor as needed) credits submitted for committee approval and serve as a voting member of the Senior Credit Committee. Manage a team of CPM Team Leaders, Credit Officers, and Credit Portfolio Managers for a wide geography or LOB with direct and indirect reports to ensure operational efficiency, collaboration across teams and quality work product. Provide guidance to lenders and team of CPM Team Leaders, Credit Officers and Credit Portfolio Managers concerning the underwriting and structuring of commercial loans, commercial mortgages and ACH transactions. Monitor credit policy/procedure compliance, past due loan status and other portfolio management responsibilities are proactively addressed with the assigned lending and credit teams. Positively lead any changes within the corporate environment. Provide consistent and constructive feedback on direct report's performance and ensure the same is completed for indirect reports. Participate in establishing and maintaining credit policy and related procedures and guidelines. Conduct credit-related projects at the direction of the Chief Credit Officer. Provide input for disaster recovery and business continuity including backup to the Chief Credit Officer. Requirements
Required Skills:
Strong command of financial accounting including knowledge of Financial Accounting Standards Board (FASB) guidance affecting financial reporting such as FAS 5, FAS 13, FAS 95, FAS 114, FAS 141. Ability to analyze complex financial statements and assess business cash flow. Ability to analyze personal tax returns, personal financial statements to assess an individual's net worth, liquidity and cash flow capacity. Ability to assess business plans for start-up ventures including financial projections. Knowledge of corporate organizational structures and the impact of these structures on federal tax liability. Knowledge of the fundamental risk factors associated with a broad array of industry sectors (i.e. manufacturing, healthcare, retail, transportation) and assess these risks as part of the overall credit risk assessment and decision process. Ability to effectively communicate credit concerns and formulate alternate loan structures to customers, business unit team leaders, department heads and senior management. Knowledge of loan documentation requirements for all types of commercial loan and lease products including C-I loans, asset-based loans, commercial real estate loans, equipment leasing. Strong knowledge of relevant banking regulations including Regulation B, Regulation O, AML/BSA, OFAC, FDIC Loss Share Agreement. Ability to mentor Credit Officers, CPM Team Leaders and Credit Portfolio Managers concerning the bank's credit culture, policies and procedures. Effectively balance the bank's goals of sound credit quality and loan portfolio growth. Ability to manage a staff of Credit Officers, CPM Team Leaders, Credit Portfolio Managers and support staff involving daily responsibilities, salary and performance reviews and special projects. Required Experience:
High School Diploma or GED and a minimum of 10 years commercial lending experience including substantial credit authority. Formal credit training. Credit management experience that includes exposure to underwriting, loan processing and administration, documentation, and customer service (internal and external). Master's Degree preferred in Finance, Accounting, or Business Administration. Full-time/Part-time Full-time FLSA Exempt Location(s). 70 Speedwell Ave, Morristown, New Jersey 07960, United States Total Rewards Summary We provide a comprehensive and competitive total rewards package including base salary determined by factors such as the role, relevant experience, skill set, and geographical location. Eligible positions may also be eligible to receive commission-based compensation and/or discretionary incentive compensation, which may be awarded as cash or forfeitable equity, recognizing individual performance and contributions.
In addition to financial compensation, we offer a robust suite of benefits tailored to meet diverse employee needs based on eligibility criteria. These include comprehensive health care and insurance plans, retirement savings options, tuition and adoption reimbursement programs, paid time off, mental health support, and other valuable benefits programs. Further details regarding total compensation and benefits will be shared during the hiring process. Job Details Pay Range Pay Range The estimated pay range for this job. Disclosing pay information promotes competitive and equitable pay. The actual pay rate will depend on the person's qualifications and experience. $173,300.00 - $318,000.00 / year Pay Transparency In order to support the Fair Compensation Strategy by the US Govt., HR Dept., clients are required to adhere to "Pay Transparency Law"; in the impacted states; that have mandated the employers to list the salary ranges in Job advertisements or postings for job opportunities and Job promotions.
Carries a substantial amount of approval authority for commercial credit requests where total exposure exceeds $1,500,000 in all portfolios (retail, commercial - industrial, real estate and leasing) Review (and sponsor as needed) credits submitted for committee approval and serve as a voting member of the Senior Credit Committee. Manage a team of CPM Team Leaders, Credit Officers, and Credit Portfolio Managers for a wide geography or LOB with direct and indirect reports to ensure operational efficiency, collaboration across teams and quality work product. Provide guidance to lenders and team of CPM Team Leaders, Credit Officers and Credit Portfolio Managers concerning the underwriting and structuring of commercial loans, commercial mortgages and ACH transactions. Monitor credit policy/procedure compliance, past due loan status and other portfolio management responsibilities are proactively addressed with the assigned lending and credit teams. Positively lead any changes within the corporate environment. Provide consistent and constructive feedback on direct report's performance and ensure the same is completed for indirect reports. Participate in establishing and maintaining credit policy and related procedures and guidelines. Conduct credit-related projects at the direction of the Chief Credit Officer. Provide input for disaster recovery and business continuity including backup to the Chief Credit Officer. Requirements
Required Skills:
Strong command of financial accounting including knowledge of Financial Accounting Standards Board (FASB) guidance affecting financial reporting such as FAS 5, FAS 13, FAS 95, FAS 114, FAS 141. Ability to analyze complex financial statements and assess business cash flow. Ability to analyze personal tax returns, personal financial statements to assess an individual's net worth, liquidity and cash flow capacity. Ability to assess business plans for start-up ventures including financial projections. Knowledge of corporate organizational structures and the impact of these structures on federal tax liability. Knowledge of the fundamental risk factors associated with a broad array of industry sectors (i.e. manufacturing, healthcare, retail, transportation) and assess these risks as part of the overall credit risk assessment and decision process. Ability to effectively communicate credit concerns and formulate alternate loan structures to customers, business unit team leaders, department heads and senior management. Knowledge of loan documentation requirements for all types of commercial loan and lease products including C-I loans, asset-based loans, commercial real estate loans, equipment leasing. Strong knowledge of relevant banking regulations including Regulation B, Regulation O, AML/BSA, OFAC, FDIC Loss Share Agreement. Ability to mentor Credit Officers, CPM Team Leaders and Credit Portfolio Managers concerning the bank's credit culture, policies and procedures. Effectively balance the bank's goals of sound credit quality and loan portfolio growth. Ability to manage a staff of Credit Officers, CPM Team Leaders, Credit Portfolio Managers and support staff involving daily responsibilities, salary and performance reviews and special projects. Required Experience:
High School Diploma or GED and a minimum of 10 years commercial lending experience including substantial credit authority. Formal credit training. Credit management experience that includes exposure to underwriting, loan processing and administration, documentation, and customer service (internal and external). Master's Degree preferred in Finance, Accounting, or Business Administration. Full-time/Part-time Full-time FLSA Exempt Location(s). 70 Speedwell Ave, Morristown, New Jersey 07960, United States Total Rewards Summary We provide a comprehensive and competitive total rewards package including base salary determined by factors such as the role, relevant experience, skill set, and geographical location. Eligible positions may also be eligible to receive commission-based compensation and/or discretionary incentive compensation, which may be awarded as cash or forfeitable equity, recognizing individual performance and contributions.
In addition to financial compensation, we offer a robust suite of benefits tailored to meet diverse employee needs based on eligibility criteria. These include comprehensive health care and insurance plans, retirement savings options, tuition and adoption reimbursement programs, paid time off, mental health support, and other valuable benefits programs. Further details regarding total compensation and benefits will be shared during the hiring process. Job Details Pay Range Pay Range The estimated pay range for this job. Disclosing pay information promotes competitive and equitable pay. The actual pay rate will depend on the person's qualifications and experience. $173,300.00 - $318,000.00 / year Pay Transparency In order to support the Fair Compensation Strategy by the US Govt., HR Dept., clients are required to adhere to "Pay Transparency Law"; in the impacted states; that have mandated the employers to list the salary ranges in Job advertisements or postings for job opportunities and Job promotions.