Duties include calculating the Allowance for Loan and Lease Loss Reserve (ALLL) and making recommendations to executive management and the Board of Directors for monthly allocations to the reserve. Position will be instrumental in implementing significant new accounting standard in this area, working closely with the Chief Financial Officer.
Responsible for conducting independent reviews and risk assessments procedures and processes, underwriting guidelines, and applicable laws, rules, regulations, in addition to determining that risk is accurately identified via the Bank’s internal loan risk rating system to ensure the Bank maintains a sound loan portfolio.
- Prepared and calculates monthly ALLL, ensuring that the estimate is appropriate under generally accepted accounting principles; calculation includes analyzing local, regional, and national economic conditions; loan losses and trends and loan product concentrations; makes recommendations to executive management and the Board of Directors for the amount to be added/deducted to/from the loan reserve.
- Ensures that appropriate processes are put into place to adopt the new accounting standard ASU 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments “CECL” which will replace the historical allowance for loan losses referred to as “Incurred Loss Calculations.” CECL is required to be implemented by January 1, 2023.
- Monitors status of problem loan portfolio by tracking delinquencies; verifying; preparing monthly watchlist and past due reports.
- Performs quarterly reporting and analysis on loan concentrations of the Bank.
- Completes stress testing annually.
- Compiles additional reports and provides data required for accounting and regulatory reporting, as needed.
Loan Review (35%):
- Conducts review of loans and commitments of the Bank to ensure compliance with established policies and regulatory standards, covering the following:
- Asset Quality - Ensuring that acceptable credit standards are maintained (confirms lien perfection, repayment capacity, collateral, etc.).
- Documentation - Ensuring that loans conform to established bank lending policies and procedures and that required documents have been obtained and are thorough and accurate.
- Compliance - Ensuring conformance to relevant state and federal laws and regulations.
Other Duties (5%):
- Maintains customer confidence and protects bank operations by keeping information confidential.
- Contributes to team effort, working with other bank officers, to accomplish related results related to the goals of the bank.
- Participates in civic and community activities to generate visibility and contact for the bank.
- Maintains professional and technical knowledge by attending educational workshops, reviewing professional publications, establishing personal networks, and participating in professional societies.
- Attends mandatory compliance and security sessions.