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Bank of the West Wealth Management – Senior Credit Officer in California

Wealth Management – Senior Credit Officer

Description

At Bank of the West, our people are having a positive impact on the world. We’re investing where we feel we can make the most impact, like advancing diversity and women entrepreneurship programs, financing for more small businesses, and promoting programs for sustainable energy. From our locations across the U.S., Bank of the West is taking action to help protect the planet, improve people’s lives, and strengthen communities. We are part of BNP Paribas, a global leader supporting the UN Sustainable Development Goals (SDGs). Yes, we’re a bank, but as the bank for a changing world, we are continually seeking to improve the ways we help our customers, while contributing to more sustainable and equitable growth.

Job Description Summary

This new and exciting senior role will be responsible for managing credit administration activities primarily for the Wealth Management Key Client Group. This role will require specialized skills and will have oversight of the WMG business against risk identification, risk measurement, risk appetite, and risk profile. Assessment capability to monitor and report on risks inherent to business activities including investment, credit, business and strategic risks. The Principal SCO will engage with WMG Credit Risk stakeholders during the planning, designing, and optimizing of credit risk procedures and in addition, will manage the 4 eyes approval process for WMG. Products that will be rolled out to KCG clients will include custom credit, tailored ILOCs, NY mortgages, yacht and aircraft financing.

Primary Responsibilities:

  • Oversight and approval of WMG KCG (Wealth Management & Key Clients Group) credit risks associated with originations, underwriting, portfolio management and collections.

  • Develops vision of an effective WMG & KCG lending framework, including appropriate loan policies and procedures, and articulate changes and improvements to the leadership team and other stakeholders.

  • Responsible for oversight and identification of areas of potential credit risks in the WMG mortgage, Custom Credit and ILOC business and recommends/oversees implementation of mitigation strategies.

  • Oversight of the lending authorities across the WMG, and ensure that the delegated lending limits are effectively administered, reduced or eliminated when required.

  • Approve WMG KCG transactions within his/her delegated authority and refer transaction to appropriate level as needed.

  • Assure proper escalation of credit risk issues within governance framework.

  • Proactively interacts with various senior and mid-level officers to ensure relevant risk policy manual is updated as appropriate.

  • Actively participate in WMG risk committee meetings and providing an independent oversight of all credit risk topics.

  • Participate in external reviews by GSE’s, regulators, government agencies and rating agencies.

  • Drive the development of WMG & KCG MIS with the credit risk analytics team.

  • Analyze and report key risk metrics including early warning indicators.

Other Responsibilities:

  • Oversee and challenge Wealth Management, especially the KCG business, regarding their credit risk identification, risk measurement, risk appetite, and risk profile

  • Serve as check and challenge for processes implemented by Wealth Management, especially those pertaining to credit

  • Oversee Wealth Management’s application of and adherence to the risk framework policies, processes, measures and limits

  • Appropriately escalate issues to the Risk Managers, Chief Consumer Credit Manager, compliance and business line or legal entity management teams, as needed

  • LI-TW1

Qualifications

Requirements

  • Private Bank/Wealth Management experience within a global, national or regional bank or Broker Dealer.

  • Requires 15 years minimum prior relevant experience in the mortgage and Private Client Services and UHNW environment, with at least 5 years being US-based Wealth lending experience.

  • Experience in high end residential mortgage loans, securities backed lending, custom credit, multi-currency lending, aircraft and yacht financing, investment lines of credits which meet the needs of UHNW clients.

  • Requires mastery level knowledge and skills regarding mortgage and wealth management credit lending

  • Requires deep expertise on evaluating borrowers financial condition/cash flows and risks associated with more complex structures such as multiple trusts, LLCs, etc.

  • Strong familiarity with US regulations pertaining to lending, especially to consumers, and understanding of regulatory expectations pertaining to lending, credit policies, underwriting, etc.

  • Understanding of consumer credit risks requirements and experience implementing ongoing reporting metrics aligned to industry standards.

  • Exceptional ability to develop positive relationships and lead through influence with diverse internal and external stakeholders, build consensus and prioritize action and results.

  • Able to actively participate in, and occasionally lead, cross team projects.

  • Maintains strong network of stakeholders and can leverage relationships for the benefit of the Bank.

  • Critical and structured thinker with superior analytical and problem solving abilities.

Education

  • Bachelor’s Degree is required

  • Master’s Degree is preferred

Equal Employment Opportunity Policy

Bank of the West is an Equal Opportunity employer and proud to provide equal employment opportunity to all job seekers without regard to any status protected by applicable law. Bank of the West is also an Affirmative Action employer - Minority / Female / Disabled / Veteran.

Bank of the West will consider for employment qualified applicants with criminal histories pursuant to the San Francisco Fair Chance Ordinance subject to the requirements of all state and federal laws and regulations.

Job: Risk Management

Location: United States-California

Other Locations: United States-Texas, United States-Nebraska-Omaha, United States-New York, United States-Arizona

Requisition ID: 053587

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