Chief Credit Officer

Background

VestedIn (formerly West Philadelphia Financial Services Institution) has been referred to as the “economic engine” of the community. First serving West Philadelphia’s Empowerment Zone and now serving six additional counties in Pennsylvania, New Jersey and Delaware, VestedIn believes in uplifting the three components that are at the heart of every neighborhood: Business…Community…You! 

Our mission is to facilitate empowerment and wealth building through investment in communities. VestedIn takes the moving parts of our community and converts that power into tangible actions that propels motion that lasts for generations. 

Summary

The Chief Credit Officer is responsible for the operational oversight of all lending activities including staff in lending production, relationship management, and loan monitoring. The Chief Credit Officer assures that all loan officers follow VestedIn’s lending policy and procedures; and will ensure that loan officers appropriately monitor and service VestedIn’s loan portfolio and market loan products and services to potential borrowers. The Chief Credit Officer assists the Executive Director to ensure that all lending goals, annual loan origination goals, and portfolio repayment performance goals are met consistently and without crisis. Critical to the role is the effective preparation of the lending team with the correct skills required to perform at the highest level.    

Responsibilities

• • Monitor and Maintain a High Performing Sales Environment 
    • • Demonstrates effective leadership skills, creating a positive work environment where employees thrive and the organization achieves desired results.

     

    • • Ensures all lenders are onboarded and understand all loan procedures and policies and ensure all SOP’s are up to date and accurate.

     

    • • Ensure training is ongoing regarding all aspects of lending.

     

    • • Oversees the management of technology platforms to assist the lending process. 

     

    • • Ensure staff is monitoring loan collections and portfolio management in accordance with VestedIn’s lending policies and procedures.  

     

    • • Represent and promote VestedIn at external functions. 

     

    • • Works to remove obstacles and barriers to the sales process. 

     

    • • Ensure a high level of customer service goals are achieved and maintained. 

     

    • • Monitor loan closings in identified market sectors and take corrective action as required.

     

     

 

• • Direct and Supervise Designated Members of the Lending Team 
    • • Set goals and objectives, manage the sales process and behaviors for teams working in commercial, and microlending. 

     

    • • Ensure training and support in all aspects of lending procedures.

     

    • • Ensure that the organizational mission is met.

     

    • • Assist with the implementation of new markets and products to expand lending opportunities aligned with the organization’s strategic plan in the markets we serve including but not limited to New Markets Tax Credits, specialized loan funds such as Capital Magnet Funds, SBA 7(A) Guarantee Program, and the CDFI Bond Guaranty Program.  

     

    • • Ensure that the lending team meets the requirements of investors including impact and targeted lending.

     

     

 

• • Coordinate with Executive Director on Risk Management 
    • • Ensure loan policy and procedures are understood and implemented across the Lending team. 

     

    • • Analyze loan data reports to determine need for corrective action.

     

    • • Collaborate on establishing appropriate risk mitigates on more complex credits. 

     

    • • Provides feedback to the lending team on trends that reflect increasing or decreasing risk within the portfolio.

     

     

 

• • Individual, Team & Company Participation 
    • • Quarterly Coaching Sessions and Annual Review Meetings 

     

    • • Department Meetings 
        • • Supervises and coordinates training and technical assistance delivery by lending staff. 

         

        • • Management Team 

         

        • • Opportunities Breakfast 

         

        • • Mandatory staff meetings 

         

        • • Special Events Attendance & Support 

         

         

     

     

 

Requirements

• • Bachelor’s degree or equivalent professional experience in a relevant field such as financial management, small business management, business administration, or economics. 

• • 5+ years of commercial or small business lending experience. 

• • 5+ years of management experience. 

• • 2 – 4 years of experience working with a CDFI or other organization that uses governmental reporting systems such as AMIS. 

• • 2 – 4 years of experience in data analysis and reporting. 

• • Proficiency in Microsoft Products, with strong skills in Excel. 

• • Capacity to learn departmental software systems and databases, including but not limited to Customer Relationship Management software, Loan Portfolio Management Systems and cloud-based programs like Microsoft 365 and Power BI. 

• • The ability to maintain a high degree of accuracy and attention to detail. 

• • Ability to work independently. 

• • Strong written and verbal communication skills. 

• • Strong analytical skills.

• • Ability to work effectively with racially and socially diverse individuals. 

• • Willingness and ability to travel within the service area to conduct site visits and to meet with borrowers and prospects. 

• • Ability to work effectively with cooperatives, community-based organizations, banks, public sector organizations, and individuals from various economic and cultural circumstances. 

Compensation and Benefits

• • Competitive salary commensurate with experience. 

• • Flexible hybrid work environment. 

• • Comprehensive benefits package, including health, dental, and retirement plans. 

• • Paid Time Off (PTO).  

• • Long-Term and Short-Term Disability. 

• • 10 Federal Holidays plus Christmas Eve and New Year’s Eve. 

• • Professional development opportunities. 

How to Apply

Interested candidates should submit their resume and cover letter to [email protected] with the subject line: Chief Credit Officer–Application – [Your Name].

Applications will be reviewed on a rolling basis.