Credit Officer - Confidential : Job Details

Credit Officer

Job Summary:

We are collaborating with our client to identify a highly qualified individual for the role of Credit Officer for a state agency that supports the needs of low- and moderate-income renters and homebuyers by providing financing and programs focused on equity. Under the administrative direction of the Director of Financing, the Credit Officer is responsible for comprehensive credit management and risk assessment related to the Agency s various financing and lending programs. The Credit Officer is responsible for maintaining the credit quality of the lending portfolio and recommending strategies for loss mitigation in alignment with the Agency s overall risk management framework and for credit policy development, implementation, and monitoring. This role is hybrid in Downtown Sacramento. Minimum 2 days a week in the office.

Job Duties:

Multi-family credit reviews and approvals

• Responsible for providing an independent and objective evaluation of each lending request recommended for approval by the Multifamily Originations and Underwriting staff.
• Reviews the Senior Loan Committee (SLC) staff reports and as necessary, the underlying underwriting files, internal multifamily underwriting model, California Tax Credit Allocation Committee(TCAC)/California Debit Limit Allocation Committee (CDLAC), and CalHFA application packages, financial projections (proforma), borrower due diligence, including financial statements, developer relationships, aggregate exposure, third-party reports (market study, appraisals, environmental studies) loan documentation, inter-creditor agreements, and other diligence received during the underwriting phase.
• Ensures that the closing conditions, loan funding conditions at permanent loan conversion, underwriting exceptions and/or term sheet deviations, and other risks impacting credit decisions are clearly identified, reported, and mitigated in accordance with the Agency s lending, credit policies, underwriting standards, and risk management practices.

Multifamily Portfolio Review and Performance Monitoring

• Responsible for maintaining the overall asset and credit quality of the loan portfolio by performing periodic reviews including risk rating to ensure compliance with programmatic, regulatory, and statutory requirements and limits.
• Reviews individual portfolio loans for risks as identified and reported by Multifamily Asset Management staff throughout the loan lifecycle including issues related to project construction delays, budget imbalance, operational deficiencies, changes in pre- and post-closing conditions, and/or funding requirements, deviations from original underwriting and policy approvals, changes in creditworthiness, collateral valuation, borrower non-performance, non-compliance with financial and legal agreements and loan covenants, loan workout and/or restructuring for troubled loans and exit strategies.
• Works with the Agency s Office of the General Counsel, Multifamily Programs Division, and Enterprise Risk Management and Compliance Division to analyze and evaluate mitigation strategies and recommend actions to address these risks and minimize portfolio loss.

Credit Risk Management and Reporting

• Ensures efficient and effective credit administration operations during the underwriting, closing phases, and on an ongoing basis thereafter, by independently reviewing and monitoring financial and legal documentation and agreements, contractual obligation, covenant reporting and tracking, and regulatory compliance and notifying the Director of Financing and Risk Manager of any irregularities and exceptions.
• Presents written and oral reports to the Board of Directors, Senior Loan Committee, and Financial Risk Management Committee as required.
• Coordinates with the Director of Enterprise Risk Management and Compliance and the Risk Manager on the development and enhancement of credit reporting processes, systems, policies, and procedures.
• Participates in Agency s risk assessment and management activities such as sensitivity analysis, financial projections, scenario testing, loan loss allocations, and allowances for loan losses as well as program evaluation by compiling credit data and other information for analysis.
• Devises and implements sound credit policies and related procedures to ensure the Agency s credit workflow processes as well as approval decisions are clearly defined, in compliance with Agency s risk tolerances and policies, and understood by Underwriting and Asset Management staff.
• Maintains and updates lending guidelines and documentation, including the Agency s Underwriting Standards Reference Manual (USRM) and the internal multifamily underwriting model to ensure consistency with industry standards and Agency goals.
• Identifies marketplace issues, underwriting standards, policies, and legal requirements that are inconsistent with Agency practices and makes recommendations to leadership to change Agency practices.

New Business Activity and Program Development

• Assists the Director of Financing and other business division Directors in the development of new financing programs and lending products initiated by the Agency.
• Provides expertise and knowledge related to credit risks, and credit processes as well as perspectives on short-term and long-term housing credit market conditions, which assists in the analysis and evaluation of new initiatives, identifying opportunities, and addressing gaps.

Credit and Training Department

• Organizes and conducts training and development for Underwriting, Asset Management, and Division Directors on credit policies, underwriting, regulatory and compliance topics, as needed, to ensure the staff is current on all credit operations and functions.

Working Conditions:

• Prolonged sitting
• Work in a high-rise building when onsite
• Use a computer keyboard and read from computer screens several hours a day
• Be able to lift and carry up to 20 lbs.

Application Instructions:

Our next step involves a comprehensive review of all applications and resumes received. Following this assessment, selected candidates will be invited to apply through our client s portal for further consideration.

The Client s application portal is a crucial part of the application process, allowing streamlined communication and the facilitation of a more in-depth evaluation of your qualifications. You will receive instructions on how to access and complete the next stage of the application through the portal if your initial application aligns with our requirements.