Virginia Community Capital is a Community Development Financial Institution (CDFI) with a mission to create jobs, energize places, and promote an enhanced quality of life for Virginians. With offices in Christiansburg, Norfolk, and Richmond, we offer innovative and flexible financing tools throughout the state. In addition, we provide professional advisory services to individuals and organizations in low-to-moderate income and underserved communities.
The Senior Credit Officer is responsible for managing an assigned loan portfolio of special assets with the goal of optimizing positive results, while minimizing losses. The position is a critical component of the risk management team supporting all aspects of credit administration and new originations. The Senior Credit Officer must serve as a value-added partner to the lending team in their pursuit of VCC’s loan growth objectives. The desired candidate must have substantial experience in managing loan relationships, especially special assets, while maintaining a positive attitude that supports VCC’s core values. The individual must exhibit well developed teamwork and decision-making skills. This position will report directly to the Credit Risk Manager.
Essential Duties and Responsibilities:
Manage an assigned portfolio of existing small business and real estate loans, which primarily includes loans risk rated “watch” or worse with the goal of minimizing losses and optimizing results.
Responsible for preparing and presenting loan workout strategies, including Watch List Action Plans, to the Special Assets Committee and/or Director’s Loan Review Committee.
Gathers financial data, prepares analysis, and develops workout strategy and alternatives for special assets. Reviews relevant documents and transaction deal structure prior to commencing workout strategy.
Works with internal and external business partners and borrowers to better secure collateral coverage.
Works with internal and external business partners, which may include outside counsel, on negotiations and documentation to mitigate risk.
Adheres to established policies, procedures, and regulations.
Assist the Chief Risk Officer and Credit Risk Manager in working with lenders on advising and structuring new loan transactions.
Serve as a valued added partner to the lending team to support organization’s loan growth goals, while maintaining an acceptable level of credit risk.
In conjunction with lending team, attend borrower calls and site visits to understand and assess risk of prospective loan transactions.
Prepare and present internal loan reviews to Officer’s Loan Review Committee.
Underwrite and present renewals on existing lines of credit to Officers and Directors Loan Review Committees.
Meet with prospective and existing clients.
Perform periodic site visits to attest to the quality and value of loan collateral.
Work with other members of the Risk Management Department to provide oversight to the construction monitoring process, including periodic site visits and monthly construction portfolio reporting.
Work with loan officers and other members of the Risk Management Department to review applicable real estate construction documents prior to loan closing, including periodic site visits and pre-closing meetings.
The Senior Credit Officer will review and approve commitment letters, real estate and equipment appraisals, and environmental reports, as assigned.
Work closely with external loan review group to ensure internal loan standards are met.
Assist the leadership team with credit related projects.
Educational and Other Requirements:
Undergraduate degree in a relevant area of study such as real estate, urban planning, business administration or finance.
Relevant work experience of at least 10 years in a commercial lending function (commercial real estate, construction, small business lending, etc.) preferably with a community bank or community development financial institution.
Credit training (formal or on-the-job) at a commercial bank, credit union or community development financial institution that is recognized and well regarded for its credit risk acumen.
Experience with loan, legal and collateral documentation, and compliance.
High degree of self-motivation, dedication, creativity, and perseverance, including flexibility with time and willingness to accept a demanding (and personally satisfying) position.
Teamwork and time management skill.
Travel for borrower visits throughout Virginia and in surrounding VCC markets is required and candidate must have a valid driver’s license.
Estimated travel is 25% of time, primarily day trips