VP, Credit Risk & Policy

THE ORGANIZATION: 

Small business owners uplift communities and anchor local economies, while creating opportunities for themselves, their families, their employees, and our neighborhoods. Yet entrepreneurs who are people of color, women, and immigrants often struggle to secure capital and resources, as they are systematically shut out from traditional financing.  

Accion Opportunity Fund Community Development is an unparalleled financial support system that provides these small business owners with access to capital, networks, and coaching. We work to build inclusive and accessible options for these determined business owners. For over 25 years we have served a client base that is nearly 90% women, people of color, or immigrants.  

In addition to providing resources and loans to small businesses, we also conduct original research, advocate for policy changes, and finance community construction projects in low-income neighborhoods through our New Markets Tax Credit program. 

Together, we are building a diverse, vibrant community where opportunity, knowledge, and access to capital are within reach. 

For more information about us, visit https://aofund.org/ 

ROLE SUMMARY:  

The VP, Credit Risk & Policy is responsible for the development, implementation, and leadership of enterprise-wide Credit Risk Management. This includes execution and communication of policy and procedures, risk models, approval process, administration, portfolio analysis and asset quality. This position works closely with all members of the ETeam, the Credit Risk Committee, Board of Directors, regulators, and individuals at all levels within the organization. The CCO will endorse and support AOF’s enterprise risk management philosophy on credit, risk scoring and collections and will ensure that appropriate policies, procedures, and systems are developed, implemented, and maintained to identify, measure, monitor and control credit risks in accordance with AOF’s policies, standards, and applicable regulatory guidelines. The VP, Underwriting and Credit Policy will support AOF’s overall objectives, goals and action plans aimed at delivering long-term financial and sustainable growth, and customer impact within our target markets. 

JOB DUTIES AND RESPONSIBILITIES:  

• Oversee the credit approval process, as well as portfolio monitoring systems for all current and future credit products.
• Ensure that credit policies are routinely reviewed, modified as necessary, and well-communicated throughout the organization.
• Provide ongoing evaluation of existing systems (e.g., alternative data and modeling technologies, including predictive underwriting engines, credit risk management models, anti-money laundering/anti-fraud controls, and fair-lending compliance tools). When appropriate, evaluation, selection, and implementation of new systems to ensure that all policies and procedures are of the highest integrity and consistency.
• Ensure that AOF’s credit policy, models and underwriting process is as effective and predictable as possible – combining algorithms, scorecards and automated criteria with appropriate and thoughtful human and judgmental intervention while maximizing the small business borrower experience.
• Maintain ongoing focus and support for AOF’s credit culture for all units that touch any aspect of the credit process in the current small business lending functions, which includes credit policy, risk modeling/scoring, underwriting, and collections. In the future, lending may be expanded to other verticals, including SBA, consumer and mortgage lending for our target customers.
• Ensure that allowance for credit losses using CECL and the charge-off process and procedures are consistent with industry best practices and meet current and anticipated accounting and regulatory guidelines.
• Ensure that systems of internal controls and procedures are consistent with the highest standards in the industry and are appropriate for all regulatory requirements.
• Ensure that all loan systems and tracking techniques provide the appropriate data to credit risk management, underwriters, management, the Credit Risk Committee and the Board of Directors, to allow for accurate assessment of loan quality and risk management.
• Provide overall loan portfolio management analysis and oversight to ensure that AOF’s asset quality meets stated objectives and that the emphasis of AOF’s overall credit policy management and scoring models are consistent with AOF’s underwriting standards.
• Support healthy diversification of the loan portfolio by establishing sound credit policies and proper training of underwriters, small business lenders (e.g., future relationship managers), loan managers/processors and credit advisors, enlisting a proactive approach to engaging multiple constituencies in partnership.
• Maintain a keen awareness of competitors’ activities, their credit practices, and of overall industry best practices.
• Serve as AOF’s liaison and coordinator when necessary to regulators, auditors and other external constituents regarding the organization’s credit management disciplines, loan quality and lending activities.
• Maintain knowledge of applicable state and federal lending and compliance laws and regulations and implement appropriate policies, procedures, and controls.
• Work with the SVP of Operations to manage loan delinquencies and loan servicing performance and facilitate appropriate strategies and procedures to ensure that delinquencies and defaults are effectively managed and reported to the Credit Risk Committee, ETeam, and the Board.
• Effectively manage direct reports by hiring, mentoring, coaching, counseling, training, and disciplining, as appropriate. Ensure direct reports’ performance reviews are completed in a timely, fair, and accurate manner.
• Coordinate comprehensive due diligence of sellers, servicers, and loan assets and/or loan participations prior to purchase to protect AOF and diversify credit and collateral risks in the overall portfolio.

MUST HAVES:  

• BS or BA degree in Statistics, Engineering, Mathematics, or finance. Masters degree a plus.
• Minimum of 10 years of combined experience with commercial and consumer credit risk and a minimum of five years leading a small business credit function. Knowledge of, or experience with other areas of risk management such as compliance, or operational risk.
• Ability to manage strategic relationships and provide sound risk management guidance to internal and external business partners.
• Thorough knowledge of broader financial services operations and control systems as well as in-depth knowledge of credit and credit operations.
• Must be able to deal directly and effectively with outside service providers and other lending institutions/organizations. Outstanding communications, organizational, and execution skills. Knowledge of and experience in regulatory compliance, including Fair Lending, BSA/AML and other lending compliance.
• Strong knowledge of financial statement analysis and exceptional knowledge of small business credit loans, principles, policies, and practices.
• Excellent oral and written communication skills.
• Excellent interpersonal, motivational, leadership and team-building skills.
• Fully knowledgeable and proficient with Microsoft Suite and in the use of software and quantitative tools and techniques such as application scoring, collection scoring, predictive analysis, modeling, financial forecasting and the risk analytic techniques used to deliver more accurate credit scoring results and portfolio management.
• High proficiency in taking initiative, strategic vision, independent thinking, thoroughness, analytical, negotiation and critical thinking skills.
• Demonstrated ability to recruit, develop, and retain top talent to the organization to ensure adequate succession planning, capability, and capacity in credit risk management team members.

PERKS AND BENEFITS:

Our mission is what motivates us to come to work each day. We know that happy employees are productive employees, which is why we offer a comprehensive benefits package that includes:

• Competitive salary commensurate with experience.

• An environment that values work-life balance and monthly remote work reimbursements.

• 100% company-funded Medical, Dental, Vision, Life & Disability coverage for employees (Based upon your plan selection). 90% company-funded dependent coverage (Based upon your plan selection) as well as Flexible Spending Accounts.

• Voluntary benefits with payroll deduction for Supplemental Life & AD&D insurance and legal plans.

• Tax deferred & Roth 403(b) Retirement Plan with employer match. 

• Unlimited paid vacation days, 12 paid holidays, 1 floating paid holiday, 10 Sick days, and paid parental leave.

We are an equal opportunity employer and committed to improving diversity, equity, and inclusion at Accion Opportunity Fund. AOF does not discriminate in employment on the basis of race, color, religion, sex (including pregnancy and gender identity), national origin, political affiliation, sexual orientation, marital status, disability, genetic information, age, membership in an employee organization, retaliation, parental status, military service, or other non-merit factor.

Salary Range*: $159,202 - $220,443

*Please note that the above salary range is a national range, and compensation is dependent upon the candidate’s experience and skill level.