Wholesale Lending Services (WLS) exists within the Commercial Bank and provides a broad array of syndicated and bi-lateral loan servicing support to the Firm's Wholesale Lending Businesses. These functions include Loan Documentation Prep & Coordination, Credit Administration, Deal Closing/Funding, Credit Compliance Monitoring, Agent and Non-Agent Loan Servicing, Trade processing, and Collateral Perfection/ Management.
Credit Monitoring sits within the WLS Middle Office and provides Credit Compliance Monitoring for the Commercial and Business Banking Loan Portfolios. This includes Covenant Document Tracking, Financial Covenant Monitoring, Borrowing Base Monitoring, and Security Valuation Monitoring and related reporting.
The Operations Manager will be responsible for managing a the team responsible for providing Quality Control Oversight for Credit Monitoring activities performed by the Credit Monitoring Specialists in the Credit Monitoring Center of Excellence.
- Partner with WLS management, WLS Risk & Control and LOB partners to deliver and continually enhance a quality control program for the Credit Monitoring function
- Lead and manage a staff of Credit Compliance Quality Review Specialists responsible for review and re-performance of the work performed to monitor customers' compliance with loan agreements
- Ensure well defined structure and process for reporting and communication of issues & error trends, including correction, escalation and reporting
- Work in conjunction with the other members and management of Credit Monitoring to perform root cause analysis and drive process and/or system enhancement to continue to ensure high quality results
- Lead oversight and coordination for continuous improvement opportunities identified from quality control reviews including, but not limited to, process and procedure improvement, training and communication, individual performance management feedback and team and LOB partner feedback forums
- Develop and continually refine quality control reporting and analytics
- Explore opportunities to increase team productivity through automation tools, process streamlining, standardization and continuous improvement methodologies
- Partner with staff across Credit Administration to incorporate feedback, promote quality discipline and organizational cultural acceptance of the quality framework
- Provide advice and expertise on quality control design, testing and MIS
- Lead, or participate in, projects related to quality improvement
- Bachelor's degree in Accounting, Finance, or Business related field, MBA a Plus
- 3-5 years of management experience preferred
- 5 years financial services experience with a minimum of 3 years of quality control, quality assurance or audit experience and 3 years management / supervisory experience
- Demonstrated knowledge of quality assurance testing methodologies
- Ability to read and interpret complex legal agreements to identify a variety of covenants
- Knowledge of financial documents including financial statements, accounts receivable and inventory reports, etc. with ability to identify inadequacies and irregularities
- High level of accounting knowledge to interpret/analyze the impact of different accounting policies and statement formats on financial covenant calculations
- Demonstrated ability to interact and communicate (both written and verbal) effectively to multiple levels of management
- Strong influencing, negotiation and relationship management skills
- Strong analytical skills, ability to isolate root cause and drive items to conclusion
- Ability to lead, challenge and adopt a changing business landscape
- Proficient in Microsoft Office
- Knowledge of the Firm's or similar financial institution's Credit Policy preferred
- Experience with related credit systems such as CLASS, LoanIQ, ACBS, ARC/iCRD, Deal Works, Apstar, etc.