At Midland States Bank, base salary is one component of our Total Rewards program. Exact compensation is determined by factors such as (but not limited to) education, skills, internal equity, and experience. This position offers additional compensation in the form of short-term incentives (i.e. bonus and/or commission) and may include long-term incentives (i.e. stock awards). Benefits for this role include comprehensive healthcare, well-being benefits, paid family leave as well as generous paid time off. Total Rewards also include banking perks, an Employee Stock Purchase Plan, 401K plan with company match and may include the opportunity to participate in our Non-Qualified Deferred Compensation plan. Incentives and benefits are subject to eligibility requirements.
Position Summary
As the Chief Credit Officer, this position plays a pivotal role in managing and overseeing all aspects of the bank's credit operations. Reporting directly to the Chief Executive Officer, this role is responsible for developing and implementing credit policies, procedures, and strategies to ensure the prudent management of credit risk while supporting the bank's growth objectives. This is a leadership role managing a team of credit officers and other professionals, providing strategic direction, and collaborating closely with other departments to optimize credit processes and drive profitability.
Primary Accountabilities
People
- Manages a team of professionals in a customer-centric culture to excel in a fast-paced environment.
- Coaches, develops, and conducts performance management activities with direct and indirect reports.
- Identifies high-potential employees for advanced training and development opportunities.
- Effectively manages poor performers.
Strategy, Operations and Other
- Oversees credit underwriting, credit analysts, and loan operations staff.
- Leads effective credit portfolio management across commercial, consumer, mortgage, and equipment financing that balances the need for high asset and credit quality with the revenue and profitability objectives of the bank.
- Develops, implements and maintains credit policies and procedures in accordance with regulatory guidelines and industry best practices.
- Provides strategic guidance and leadership to the credit department, including credit analysis, underwriting, and loan administration functions.
- Evaluates credit risk and credit quality across various lending products and portfolios, identifying potential issues, trends, concentrations and potential areas of concerns, along with implementing mitigation strategies.
- Collaborates with senior management to establish credit risk appetite and lending criteria, balancing growth objectives with risk management considerations.
- Provides advice and guidance to loan officers and lending leaders.
- Consults with loan officers and credit officers on larger and more complex loans.
- Ensures effective training and development of loan officers and other lending personnel. Coordinates the dissemination of information on lending policy, practices and procedures, and ensure that exceptions are identified and corrected.
- Leads credit review and approval processes, ensuring timely and accurate decision-making while maintaining appropriate levels of credit quality.
- Develops and maintains reporting on asset quality and concentration management.
- Leads the Special Asset function, overseeing the management of troubled assets and implementing strategies for resolution and recovery.
- Serves as Chairperson for the Director’s Credit Risk Committee and serve on other committees as assigned.
- Ensures lending staff’s thorough knowledge and understanding of compliance and regulatory issues relating to loan policy and procedures (i.e. CRA, Fair Lending, etc.) evidenced by appropriate application of these regulations in day-to-day operations.
- Serves as the primary contact with regulators and auditors on lending and credit matters.
- Manages relationships with internal and external stakeholders, including regulators, auditors, and credit rating agencies.
- Stays abreast of market trends, regulatory developments, and industry best practices related to credit risk management, recommending adjustments to credit policies and strategies as needed.
- Fosters a culture of excellence, integrity, and continuous improvement within the credit department, promoting teamwork, accountability, and professional development.
- The role requires occasional travel for training and team meetings, and willingness to travel periodically, to locations within market as needed.
- May require work in a Midland office to ensure collaboration and support of internal and external customers.
- Maintain compliance with all applicable regulations including, but not limited to, the Bank Secrecy Act (BSA).
- Other duties as assigned.
Position Qualifications
Education/Experience:
- Bachelor’s degree in finance, risk management, economics and/or equivalent experience.
- MBA or Master’s degree preferred.
- Leadership of the credit function at a Bank with a minimum of $7.5B in assets.
- Minimum 10 years’ progressive experience as a leader in credit administration and leading teams with demonstrated success coaching and motivating team members.
- Extensive formal credit training with a proven record of performance.
- Advanced knowledge of analyzing financial statements and assessing loan risk.
- Advanced knowledge of state and federal banking compliance regulations, bank lending policies and procedures, and the Bank’s products and services.
- Experience working with technology to drive efficiencies.
- Excellent oral, written, and interpersonal communication skills with the ability to instruct others, interpret documents, and write reports and correspondence.
- Excellent organizational and time management skills.
- Ability to deal with complex problems involving multiple facets and variables in non-standardized situations.
Competencies:
- Business insight
- Cultivates innovation
- Drives results
- Makes sound decisions
- Being a brand champion
- Collaborates
- Communicates effectively
- Customer focus
- Being Authentic
- Emotional Intelligence
- Self development
- Being flexible and adaptable
At Midland States Bank, we believe that when we can bring our whole selves to work each day, we become happier, more comfortable, more confident and more excited to do great things for our customers, each other and our company. We’re proud to be an Equal Opportunity and Affirmative Action employer. At Midland, we recruit, employ, train, compensate and promote without regard to race, color, religion, gender, gender identity or expression, sexual orientation, national origin, genetics, disability, age, or veteran status. If you are looking for a place to grow, we encourage you to apply at Midland States Bank, because you belong here.
If you require reasonable accommodation in completing this application, interviewing, completing any pre-employment testing, or otherwise participating in the employee selection process, please direct your inquiries to Midland States Bank Human Resources at HR@midlandsb.com.
THIS JOB DESCRIPTION DOES NOT CONSTITUTE A CONTRACT FOR EMPLOYMENT
