The Director of Credit Risk Management is responsible for overseeing the credit risk framework of the credit union. This role involves developing, implementing, and monitoring policies and procedures to effectively manage credit risk associated with lending activities. The role ensures prudent credit adjudication, portfolio performance, regulatory alignment, and a strong organizational risk culture. The Director will work collaboratively with various departments to ensure compliance with regulatory requirements and promote sound credit practices and procedures that align with the credit union’s strategic objectives.
Why Join Us?
Because you want to be one of our STARS:
- Share Knowledge and Ideas – your efforts will make impactful change; Luminus’ core value of cooperation is indicative of our culture.
- Teamwork – your one of us, fully supported, valued and cared after; this role has many collaborative needs through all of Luminus Financial and broadly through the credit union industry.
- Accountability – own your role; your creative and authentic self can thrive in a small, but dynamic and growing community-based organization.
- Recognition – your success is our success; Luminus loves to celebrate and there is no better celebration than your success.
- Solution Focused – make your mark; there are plenty of opportunities for your expertise to grow our sophistication.
You have a proactive mindset and enjoying solving complex problems to protect an organization’s reputation and continuity. You enjoy using analytical thinking to find a common thread of risk within the credit union’s loan portfolio. You understand and promote healthy boundaries through governing policies and procedures. You are a self-starter, capable of effective communication and willingness to be a leader.
Principle Accountabilities:
- Develop and implement a comprehensive credit risk management strategy aligned with the credit union’s business objectives and risk appetite.
- Assess the credit risk landscape and recommend appropriate risk mitigation strategies.
- Create, update, and enforce credit risk policies and procedures to ensure sound credit practices.
- Ensure that policies and procedures comply with regulatory requirements and industry best practices.
- Conduct regular credit assessments and analyses to identify potential risks in lending portfolios
- Advising loss prevention strategies through early detection and prevention of delinquency, collection, loss mitigations, recovery and remediation.
- Oversee the monitoring and reporting of the credit portfolio’s performance, including delinquency, expected credit loss calculations, and overall credit quality.
- Collaborate with other departments, including member relations and compliance, to foster a unified approach to credit risk management.
- Provide training and support to staff on credit risk issues and risk management practices.
- Prepare and present regular reports on credit risk exposure, portfolio performance, and risk management initiatives to the executive leadership team and Board of Directors.
- Ensure compliance with relevant regulations and act as the primary contact for regulatory assessments, audits and examinations related to credit risk and lending practices.
- Approve and/or recommend credit applications that contain exceptions to policy to the executive leadership team or the Board of Directors.
- Manage procedures related to loan data quality and completion to ensure compliance and promote actionable insight used to make credit risk decisions.
- Act as an ambassador for Luminus both internally and externally to promote the Luminus brand.
- Demonstrate a high level of professionalism at all times through attire, voice and actions.
- Maintain a high level of communication with all stakeholders (partners, staff, head-office etc.) and engage communication between senior management and branch level staff.
- Other duties as assigned.
Inspirational Leadership
- Lead, Motivate and Engage
- Empowerment
- Personal Adaptability
- Self-Awareness and Professionalism
- Accountability
Strategic Outlook & Alignment
- Organizational Understanding
- Business Acumen
- Risk Ownership
- Confidence and Transparency
- Plan & Execute
Drive for Results & Efficiency
- Decisiveness
- Process Management
- Analytical Thinking
Leverage Collaborative Relationships
- Compliance Focused
- Development and Training
- Performance Feedback
Risk Management
- Risk Reporting
- Emerging Risk Development
- Industry Knowledge
