Credit Risk, VP at State Street Corporation in Boston, MA

Senior credit approver completing critical risk analysis and assessments of underwriting submissions to ensure fit with SSBT’s Commercial Real Estate (CRE) risk appetite. Utilizes delegated credit authority to make reasonable, well-informed credit decisions, affirm fit to risk strategy and to Guidelines, and approve risk ratings commensurate with the borrower’s risk profile. Secondary responsibilities include credit oversight of Tax Advantaged Investment Low Income Housing Tax Credit investment, including approvals and portfolio performance. Other periodic activities may include involvement in policy development, business strategic growth initiatives, risk appetite assessment and reporting, and default risk models. Also, participation in strategic projects contributing to business transformation of Credit & Global Markets Division is anticipated.

Individual best suited for this role will have demonstrated independence making thoughtful, timely credit recommendations and decisions, in close collaboration with the business team; collaborative; strong critical thinker considering both transactional and strategic issues; problem solver; able to interact effectively with senior management and influence decision making; effective communicator, able to clearly, concisely articulate conflicting opinions under pressure; experienced credit professional with deep experience in Commercial Real Estate, preferably nationally. Maintain in-depth understanding of regulatory environment. There will be frequent exposure to senior management, including preparing and presenting on the portfolio, with the opportunity to influence the portfolio’s strategic direction. Provide leadership within the Division, through expertise, influencing skills, and mentoring of junior staff.

Responsibilities:

• Reviews and makes decisions on proposed credit exposures to borrowers balancing loan growth initiatives with prudent risk taking. When applicable, makes recommendations to more senior approval authorities.
• Identifies and ensures transparency of material credit risk issues, including exceptions, resolving when possible and escalating as appropriate.
• Works collaboratively with CRE Underwriting team members to proactively monitor transaction and portfolio risk, reflected in dynamic adjustments to risk ratings as needed; provides succinct updates to senior management focused on key portfolio risks.
• Manage 3rd party professional report ordering and review process, as well as oversee policies.
• Subject matter expert contributing business knowledge to all phases of the development and enhancement of risk models.
• Engages with Global Credit Review on internal review and audit activities relevant to the CRE portfolio.
• Works with the team and senior management to review and enhance risk appetite and policy, amid dynamic market and regulatory backdrop.
• Engagement in the resolution of adversely rated credit exposures.
• Mentor junior staff.
• Lead or contribute in a variety of departmental risk management and project assignments.

Qualifications:

• 7+ years of commercial real estate lending/credit experience; 10+ years of overall lending/credit experience (such as corporate, LIHTC credit) in a financial services organization.
• Significant experience working with institutional CRE sponsors and properties, current market trends, syndicated structures, real estate valuations, environmental issues, and documentation. Experience in LIHTC credit desired.
• Distressed and workout experience strongly preferred, especially in Commercial Real Estate.
• Relationship management experience strongly preferred, ideally with national CRE sponsors.
• Ability and willingness to challenge status quo, effectively articulate alternate views, and manage constructive conflict, especially in making credit decisions.
• Superior analytical skills for reviewing credit requests, borrower financial performance, cash flow forecast models, market conditions and trends, and other CRE credit related materials.
• Ability to work well both independently and in a team environment, lead collaborate on time sensitive credit approval requests. Must be able to effectively prioritize multiple assignments.
• Involvement with CRE risk models (PD, LGD, CCAR, Capital) desired.
• Ability to work with senior management and to develop influencing relationships with others throughout the organization.
• Excellent interpersonal, organizational, presentation, and communication skills.
• Excel and PowerPoint proficient, Argus experience preferred.
• Project management experience preferred.
• Bachelor’s degree or higher preferred.