Bachelor's degree in business, accounting, finance, or related field required.
Minimum 15 years of commercial lending experience, including SBA lending.
Minimum 5 years of commercial underwriting experience.
Formal bank credit training required.
Expert knowledge of commercial credit underwriting concepts.
Responsibilities
Ensure timely processing of loans that meet credit policy standards.
Lead the credit administration department for efficient loan transaction reviews.
Develop and implement departmental policies and communicate them to staff.
Approve loans within authority and recommend others to the Loan Committee.
Oversee risk management considerations for the Bank's loan portfolios.
Conduct regular reviews of past due accounts and 'Watch List' loans.
Act as liaison with regulators regarding loan audits and compliance.
Benefits
Comprehensive health insurance options.
Retirement savings plan with employer matching.
Professional development and training opportunities.
Flexible work arrangements.
Paid time off and holidays.
Full Job Description
Position Summary
The Chief Credit Officer manages the credit process and standards from sales to booking of commercial and SBA loans. The incumbent manages the loan process for quick turnaround and has expert knowledge and understanding of financial analysis, underwriting, and risk management.
Essential Functions
Ensure that loans are processed within agreed upon timeframes and that meet credit policy standards.
Lead the credit administration department to ensure the timely review of all loan transactions submitted by loan officers and third-party contacts.
Develop and implement departmental policies, procedures, and service standards; interpret and communicate work procedures and Bank policies to staff members.
Approve loans within lending authority and make recommendations to Loan Committee on all loans in excess of lending authority.
Ensure quality underwriting and financial analysis for all loan proposals.
Review and analyze credits greater than a specified amount prior to presentation to the Board. Determine if credits meet sound underwriting standards and do not pose greater-than-normal risk.
Oversee the Bank's loan portfolios as to risk management considerations to maintain quality control and minimize losses.
Review portfolio concentrations and make recommendations to manage portfolio risk.
Conduct a weekly review of past due accounts.
Conduct a quarterly review of "Watch List" and asset recovery-managed loans in conjunction with the Asset Recovery Manager.
Inform the CEO and senior management of any material considerations affecting the loan portfolio, loan policy, and unusual transactions of significant size.
Manage the loan review process and ensure that loan files are maintained in proper order and in accordance with Bank and regulatory standards.
Act as liaison between the Bank and its regulators regarding loan audits, compliance, reviews, and lending practices.
Resolve credit policy issues identified internally or by the regulators by coordinating due diligence efforts with lending staff and other department managers.
Set agenda for and conduct Loan Committee meetings.
Oversee the loan policy and underwriting guidelines, subject to final approval, and communicates policy to all employees involved in loan origination and portfolio management, and anyone authorized to approve loans.
Coordinate the development or revisions of policies, procedures and agreements to ensure compliance with regulatory process. Ensure that deviations from policy are corrected and reported.
Negotiate loan participations and purchase agreements, inspects properties held for collateral, reviews applicable loan documents, effects settlement, and maintains files and servicing for such loans.
Deal with attorneys representing the financial institution on loan matters.
Present and review major loan requests, as defined by policy, with directors for their consideration and approval or rejection.
Review and interpret new and pending laws and regulations that potentially affect the Bank's credit practices.
Manage the work of the credit administration staff; assign specific duties; and ensure adherence to quality standards, deadlines, and proper procedures.
Provide employees with guidance in handling difficult or complex problems or in resolving escalated complaints or disputes.
Identify the development needs of staff members; provide coaching and training to help staff members improve their knowledge and skills.
Evaluate staff members' job performance on an annual basis and recommend appropriate actions.
Additional Functions
Review and update loan policies and procedures.
Education and Experience
Bachelor's degree in business, accounting, finance or related field required.
Minimum 15 years commercial lending experience including SBA lending.
Minimum 5 years commercial underwriting experience.
Formal bank credit training.
Knowledge, Skills, and Abilities Required
Expert knowledge of commercial credit underwriting concepts including financial statement, ratio, cashflow, and tax return analysis and collateral valuation.
Expert knowledge of lending principles, policies, and procedures.
Strong knowledge of SBA program and standard operating procedures.
Excellent written and oral communication skills to communicate ideas and information effectively as appropriate for the needs of the audience.
Excellent computer skills in a Microsoft Windows environment including proficiency in Work and Excel.
Ability to calculate figures and amounts such as discounts, interest, commissions, proportions, percentages, area, circumference and volume. Ability to apply concepts of basic algebra.
Ability to read, analyze, and interpret legal documents, governmental regulations, financial reports and professional publications.
Ability to effectively present information and respond to inquiries from senior management, attorneys, vendors, government agents, and the public.
Ability to write reports and business correspondence.
Ability to define problems, collect data, establish facts, and draw valid conclusions. Ability to deal with problems involving several concrete variables in standardized situations.
Ability to work independently.
Ability to provide direct supervision, coaching, and performance management to subordinate staff members.
This job description is not an employment agreement or contract, implied or otherwise. Unity Bank maintains "at will" employment.
This document describes the position currently available. It is intended to convey information essential to understanding the scope of the position and is not an exhaustive list of skills, efforts, duties, responsibilities or working conditions associated with it. Unity Bank reserves the right to modify duties or job descriptions at any time. Nothing in this job description restricts management's right to assign or reassign duties and responsibilities at any time. Individuals may perform other duties as assigned, including work in other functional areas to cover absences or relief, to equalize peak work periods or otherwise balance the workload.
About Unity Bancorp, Inc
Unity Bancorp, Inc. is a bank holding company that operates Unity Bank, a community-oriented commercial bank that serves customers in New Jersey and Pennsylvania. The bank was founded in 1991 and has grown to become one of the leading community banks in the region. Unity Bank offers a wide range of financial products and services, including checking and savings accounts, loans, mortgages, and wealth management services. The bank is committed to providing its customers with personalized service and innovative solutions to meet their financial needs. Unity Bancorp is also committed to being a responsible corporate citizen, and is involved in a number of community outreach and charitable initiatives.
