Chief Credit Officer

Grade:               Full-Time, Exempt

Location:          Brookings, SD (on-site; travel as needed)

Supervisor:      CEO/President

Schedule:           Monday – Friday (8am-5pm)

BankStar Financial is a locally owned bank, with a team of dedicated and talented individuals that work together to provide top-notch service to our customers. Our work matters to the people and places we care for most. We take pride in lifting up and brightening peoples’ lives through good work, strong partnerships, and community involvement. We are looking for team members that are willing to demonstrate leadership by embodying the core values of the bank that include: accountability, flexibility, integrity, positivity, and teamwork.

About the Role

The Chief Credit Officer (CCO) is a senior executive responsible for overseeing the credit risk management function of BankStar. This role entails developing, implementing, and maintaining the banks’ credit culture, policies, and procedures to ensure sound credit practices and compliance with regulatory requirements. The CCO works closely with other executives to achieve strategic business objectives while mitigating credit risks.

Key Responsibilities

Credit Risk Management:

• Develop and implement comprehensive credit risk management policies and procedures.


• Monitor and manage the organization’s overall credit risk exposure.


• Conduct periodic reviews of credit portfolios to identify and mitigate potential risks.


• Analyze industry, regulatory, and economic developments to assess potential impacts on the credit portfolio.

Leadership and Strategy:

• Lead and manage the credit department, including Loan Committee meetings, training, and coaching credit analysts and lenders.


• Collaborate with senior management to define the bank’s credit strategy and align it with overall business goals.


• Provide strategic input on credit-related matters to the board of directors and executive team.

Credit Evaluation and Approval:

• Oversee the evaluation and approval process for all credit applications, ensuring adherence to credit policies.


• Review and approve large or complex credit applications that exceed the authority of lenders.


• Ensure consistent and thorough credit analysis, including financial statement analysis, credit scoring, and risk assessment.

Regulatory Compliance:

• Ensure the bank’s credit practices comply with all relevant regulations and standards.


• Prepare for and respond to regulatory audits and examinations related to credit risk, including safety and soundness.


• Stay informed about changes in regulatory requirements and update credit policies accordingly.

Reporting and Analytics:

• Develop and maintain credit risk reporting systems, providing a tickler list and regular updates to senior management and the board.


• Analyze credit data and trends to identify potential risks and opportunities.


• Prepare comprehensive reports on the performance and quality of the credit portfolio including stress testing to be delivered in a timely manner to senior management and board of directors as required.

Customer Relations:

• Foster strong relationships with key customers and stakeholders.


• Address and resolve escalated customer credit issues in a timely and effective manner.


• Support business development initiatives by providing insights into credit risk considerations.

Qualifications

• Bachelor’s degree in finance, accounting, business administration, or a related field. MBA or other advanced degree is preferred.


• Minimum of 10-15 years of experience in credit risk management, with at least 5 years in a senior leadership role.


• Strong analytical and problem-solving skills.


• Excellent leadership and team management abilities.


• In-depth knowledge of credit risk management principles and practices.


• Proficient in financial analysis and credit evaluation techniques.


• Solid understanding of regulatory requirements and compliance standards.


• Exceptional communication and interpersonal skills.

Equal Opportunity Employer | Member FDIC