Senior Credit Officer

We are seeking an experienced Senior Credit Officer to lead our Credit Risk team based in Westerly, RI. This position will contribute to the strategic direction of the corporation through the development and implementation of credit risk management strategies, policies and processes in support of business goals. The Senior Credit Officer is responsible for collaborating with the commercial and retail lending teams to maintain strong asset quality of the loan portfolios, identifying and mitigating credit risk, and ensuring complete and accurate data.

PRIMARY RESPONSIBILITIES

Leadership and Management

• Demonstrate effective leadership, visioning and strategy, and critical thinking skills as well as high personal and corporate ethical values and standards of integrity.
• Recommend and implement policy, process and people strategies to ensure compliance, balanced risk and operational effectiveness.
• Attract, retain, reward, motivate, develop, engage and empower key talent that will create a high performing team to achieve superior results.
• Prepare budget forecasts, control and justify expenses, and work within the defined divisional and overall corporate budget.
• Ensure strong, working relationships with lending teams.

Credit Risk Management Program

• Manage an enterprise Credit Risk Management program (including a roadmap, monitoring system and dashboard) to identify, assess, measure, manage, mitigate and report credit risk factors that could interfere with the corporation's vision, reputation and business objectives.
• Report to senior leadership and the board on a periodic basis to outline the status of the Credit Risk program, and ensure priorities are validated and resources directed appropriately.
• Monitor and report portfolio quality metrics and trends to senior leadership and the board as appropriate.
• Maintain and evolve as needed, a commercial risk rating structure reflective of risk inherent in the portfolio.
• Maintain the Commercial Loan Policy.
• Support lending teams with consultative advice when required.
• Approve, as required per policy, commercial loans (Commercial Real Estate and C&I) with a thorough review of compliance with credit policy and underwriting standards.

Credit Review

• Develop, implement and maintain an effective and appropriate credit review process and policy that adjusts as economic conditions warrant.
• Prepare annual plan for the Credit Review program and report periodically to the Board on status thereof.
• Assist and facilitate all external credit review including third party loan review of the commercial portfolio and external examiners.

Allowance for Credit Loss (ACL)

• Develop, implement and maintain a loan loss allowance/reserve policy and evaluation framework, taking into consideration all pertinent regulatory and GAAP guidance, and various internal and external quantitative and qualitative factors and metrics.
• Oversee all processes required to prepare periodic estimates of the ACL.
• Work with Finance, outside auditors, and the Board on ACL analysis and reports.

Managed and Special Assets

• Manage commercial and retail collections and workout activities, including proper accrual status, reserve analysis and charge offs.
• Manage corporate OREO portfolio.
• Maintain a corporate Watch List and facilitate the quarterly Watched Asset Review meeting.

REQUIREMENTS/QUALIFICATIONS

• Bachelor's degree required.
• Previous experience in a leadership role.
• A minimum of 10 years of experience in financial institution credit risk management.
• Expert knowledge in credit risk; FDIC regulations; and industry best practices.
• Ability to conduct thorough research; interpret and understand laws and regulations; and provide workable recommendations and solutions to problems.
• Demonstrated effective communications skills, including written, verbal, interpersonal and presentation skills.
• Strong organizational and project management skills with the ability to multi-task.

Our employees enjoy a comprehensive benefits package, which includes health and welfare benefits, paid time-off, work-life program, and a 401(k) plan. We believe employees who are valued, recognized, rewarded and empowered, will achieve personal and professional growth. Apply today and find out why we have been voted one of the Best Places to Work in Rhode Island since 2011!

The Washington Trust Company, and each of its subsidiaries and affiliates are committed to providing equal employment opportunities to all employees and applicants as protected by state and/or federal law.