Chief Credit Officer

Job Type

Full-time

Description

ABOUT US

Coastal Community Bank is a leader in Banking with a mature and strong community bank, sound financial infrastructure, leading Banking as a Service (BaaS) division and proven Fintech strategies. The people at Coastal not only help people with their business and personal banking; they help businesses with banking technology integration that leads to business growth, flexible financing, and unimagined potential. We think and work like entrepreneurs, always moving and constantly improving. We are go-getters, work hard, and play hard. If you're someone who thrives on innovation, wants to help others succeed, knows how to think outside the box, and believes that we're all in this together -- you belong here.

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What You'll Do

The Chief Credit Officer (CCO) will play a pivotal role in shaping the bank's credit strategy and ensuring the soundness of our credit portfolio. This executive will oversee all aspects of credit risk management, including the development and implementation of credit policies, procedures, and guidelines. The role will be responsible for leading and maximizing the returns of our diverse credit portfolios while supporting and driving growth in both our direct lending model as well as our BaaS portfolio. The CCO will be a key participant in constructing and implementing our credit strategy, working closely with senior leadership to support the bank's rapid, safe and sound growth objectives.

Requirements

HOW YOU'LL DO IT

• Lead the development and execution of the bank's credit strategy, ensuring alignment with overall business goals and regulatory requirements.
• Oversee the management of the bank's credit portfolio, including consumer and commercial lending, as well as embedded finance partner lending programs, to ensure high-quality asset growth.
• Actively manage the credit pools and risk exposure using state-of-the-art analytical tools and models to project performance and adjust risk profiles as appropriate.
• Lead the development and implementation of a comprehensive governance structure, including credit policies, procedures, and guidelines to support growth while mitigating risk and managing credit performance of both direct and partner lending portfolios.
• Collaborate with executive leadership to identify and capitalize on growth opportunities in consumer and commercial markets, as well as within embedded partner programs and the fintech ecosystem.
• Actively support the bank’s growth plans through efficient capital deployment that seeks to maximize the risk-adjusted returns on capital while maintaining appropriate credit risk profiles.
• Regularly report to the Board of Directors on the status of the bank's credit portfolio, providing insights and recommendations to support strategic decision-making and ensure alignment with the bank's risk appetite and growth objectives.
• Provide strategic direction and leadership to the credit team, fostering a culture of excellence, accountability, operational efficiency and continuous improvement.
• Monitor and analyze credit performance metrics and data, identifying trends and potential risks, and implementing corrective actions as needed. Ensure compliance with all regulatory requirements and industry best practices related to credit risk management.
• Maintain current developments in the evolution of non-bank credit product and non-traditional underwriting methods, and develop expert knowledge in these practices for consideration for inclusion in bank or partner credit portfolios.
• Serve as a key advisor to the executive team on credit-related matters, providing insights and recommendations to support informed decision-making.
• Build and maintain strong relationships with key stakeholders, including regulators, auditors, and external partners.
• Maintain proficient knowledge in Bank Secrecy Act, USA Patriot Act, OFAC, Regulation E, Truth in Lending Act, Truth in Savings Act and Unfair, Deceptive or Abusive Acts or Practices (UDAAP).
• Professionally represent Coastal at industry forums, conferences or other public venues.
• Ensure that all service, credit-related activities and decisions align with the company's core values.
  
  

What You'll Bring

• Strong analytical and problem-solving skills, with the ability to make data-driven decisions.
• Excellent communication and interpersonal skills, with the ability to build and maintain effective relationships with internal and external stakeholders.
• Demonstrated leadership abilities, with a focus on developing and mentoring high-performing leaders and teams.
• Strategic thinker with a growth mindset and the ability to drive innovation and change.
• Adept at deploying technology to drive efficient delivery of credit services to internal constituents as well as our customers and partners.
• Familiarity with modern and non-traditional/non-bank credit products, including BNPL, Secured Card and Credit Builder products and cash-flow based underwriting products.
• Ability to travel up to 30%.
  
  

Education/Experience

• Bachelor's degree in finance, business administration, or a related field; advanced degree preferred.
• Minimum of 15+ years of experience in credit risk management, with a strong background in both consumer and commercial lending, minimum of 7 years of experience as a Chief Credit Officer or in an Executive role overseeing a full and diverse credit portfolio.
• Significant experience in multiple lending verticals to include CRE, C&I and consumer lending.
• Proven track record of success in a senior credit leadership role within a financial institution of comparable size and complexity.
• In-depth knowledge of credit risk management principles, practices, and regulatory requirements.
• Demonstrated experience in leading credit risk management for a multi-billion, publicly traded Bank/Finance/Fintech/BaaS company experiencing rapid growth, ensuring the scalability and robustness of credit policies and procedures to support the company's expansion.
• Advanced proficiency in Microsoft suite of products to include Outlook, Excel and Word.
  
  

How You’ll Thrive At Coastal

• Be the Best – Communicate effectively, pay close attention to detail, and prioritize your personal development.
• Be Relentless – Thrive in a goal-oriented environment exercising both patience and persistence. Advocate for our customers and team members and strive to promote the Coastal Difference.
• Be Un-Bankey – Be a forward thinker with a creative mindset. Build long-lasting relationships promoting the Coastal Difference, built on a foundation of integrity, honesty, and trust.
• Embrace Gray Thinking – Use sound judgment while decision-making and problem-solving. Think outside the box.
• Stay Flexible – Organize and strategize effectively while always being prepared to adapt on the fly. Seek efficiencies for Coastal to work smarter, not harder.
• Take Care of Each Other – Understand what it means to be a true team player and have your teammate's back. Practice self-awareness and build your emotional intelligence.
  
  

BEING YOU AT COASTAL

Coastal Community Bank is an equal opportunity employer. We are committed to providing a workplace free from discrimination and harassment. All employment decisions are based on merit, qualifications, and business needs. We do not discriminate on the basis of race, color, religion, sex, national origin, age, disability, veteran status, or any other protected status under applicable laws.

PHYSICAL DEMANDS

The physical demands described below are required to perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

While performing the duties of this job, the employee must be able to:

• Sit for extended periods of time.
• Stand for extended periods of time.
• Perform repetitive finger, hand, and arm movement.
• Use electronic office equipment such as a computer keyboard, mouse, ten key, telephone, etc.
• View and read computer screens for extended periods.
• Occasionally stoop, kneel, crouch, or crawl.
• Occasionally lift or move up to 10 pounds.
  
  

Other Duties

Please note this job description is not designed to cover or contain a comprehensive listing of activities, duties, or responsibilities that are required of the employee for this job. Duties, responsibilities and activities may change at any time with or without notice.

Salary Description

$234,000.00 - $400,000.00 annually