Chief Credit Risk Officer

Position Description

MANDATE

The Chief Credit Risk Officer (“CCRO”) is responsible for the overall credit risk strategy and risk assessment of the residential and commercial loan portfolios and ancillary products containing credit risk originated by the various lines of business. These transactions will include residential and commercial mortgages sourced from third party origination channels and other direct lending sources. The role is responsible for continuously assessing and reporting the department's controls and processes to ensure full compliance and adherence with the lending policy, the established underwriting guidelines and applicable regulatory requirements (OSFI Guideline B-20, AML and Regulatory Compliance Management).

As a member of the management Credit Committee, the CCRO has effective approval authority on new residential and commercial loans and renewals, within prescribed limits.

ACCOUNTABILITIES

Business Operations
  • Responsible for the soundness and integrity of credit granting on a transactional basis in order to ensure the credit quality of loans is within risk appetite targets.
  • Provide appropriate guidance and assistance in fine tuning and structuring specific lending proposals with consideration of financial return objective and risk parameters.
  • Ensure that new mortgages are underwritten in an efficient and timely manner within the parameters of the Company’s regulatory requirements and defined policies.
  • Continuously monitor the real estate and mortgage environment while assessing the trends and impacts through reporting to Senior Management, Risk Management and the Board.
  • Review the development of new credit products and processes, providing recommendations for adjudication of new product initiatives or product modifications.
  • Oversee appraisals and enforce the Company’s appraisal processes for origination and portfolio management.
  • Acting member of the Company’s Special Handling Committee responsible for directing default management processes and actions.
  • Provide credit counseling, coaching, training and support to the credit underwriting teams.
  • Oversee regulatory (OSFI) credit related audits and reviews, and resulting actions arising.
Credit Risk Management
  • Ensure that sound credit risk measurement and monitoring frameworks are developed and implemented throughout the group in a standardized manner.
  • Participate in model development and review forums for risk quantification, monitoring, and reporting.
  • Constantly assess the credit risk management framework to identify and address gaps to ensure ongoing compliance with standards. Implement internal and/or cross-functional initiatives to address any gaps in the control framework.
  • Coordinate with Finance and Risk Management to understand potential exposure, reserves and losses, and identify appropriate next steps and actions.
  • Responsible for continuously assessing the controls within the residential and commercial lending departments to ensure full compliance with all Company policies and procedures, including Privacy, AML and Regulatory Compliance Management.
  • Assist in preparation and presentation of the information pack for Board and Risk Review Committee.
  • Contribute proactively to various risk related projects and initiatives owing to synergies (e.g. stress testing, IFRS 9 and ICAAP); especially on aspects pertaining to credit measurement and sourcing/ management of data for these initiatives.
  • Contribute to system implementation projects in the credit risk space by providing requirements and design inputs, particularly with regard to credit risk recognition and measurement.
  • Assist Chief Risk Officer in development and review of credit frameworks and policies.

Qualifications Required

  • University degree in Business or Finance; CFA, MBA, or CPA, CA designation is preferred.
  • Minimum of 15+ years’ experience within banking and lending, in progressively more responsible positions, with the bulk of it in credit risk management.
  • Experienced understanding of Basel guidelines and evolving regulatory guidelines.
  • Thorough understanding of the evolving practices for the management of credit risk and regulatory requirements.
  • Extensive knowledge of, and experience with, lending policies and procedures, credit culture and procedures, and general banking practices and regulations.
  • Extensive working knowledge of the residential and commercial credit adjudication controls to meet risk oversight standards.
  • Must possess strong analytical skills and the ability to communicate in a professional and knowledgeable manner.
  • A well-defined sense of diplomacy, including solid negotiation, conflict resolution and people management skills.
  • High level of integrity, confidentiality and accountability.

How to Apply

We invite you to apply easily through your LinkedIn account by clicking the link below:

To apply via email, please send you resume and cover letter here.

 


Community Trust Company welcomes and encourages applications from people with disabilities. Accommodations are available on request for candidates taking part in all aspects of the selection process.