Senior Credit Officer - GMAC Bank

Under the guidance of the CCO, develop and administer credit approval and risk management procedures for affiliate lending programs. The affiliate lending program (commonly called 250.250 named after the former regulatory cite for Regulation W) includes administration of credit approval frameworks which are designed to ensure the Bank is compliant with Regulation W ? transactions with affiliates. This process was responsible for $7.9B of production in 2005 and is on pace for over $9.0B for 2006. This position includes the management of 10-20 FTEs and would absorb additional projects as assigned by the CCO. This position is located in Salt Lake City, Utah. FUNCTIONS & ACCOUNTABILITIES: Affiliate Loan Approvals: - Oversee the affiliate loan approval process. - Management of one to two direct reports that manage staffs of < 10 FTEs currently in Waterloo, IA and Cosa Mesa, CA. Direct approval authority for exceptions of $2MM. Ensure process is in compliance with Regulation W. - Continuous focus on process improvement to ensure approval workflows are as efficient and effective as possible. A goal of the 250.250 is to be a minimally intrusive to the affiliate underwriting process as possible. - Work with technology and modeling resources to leverage automated underwriting engines in the 250.250 approval process. - Work with the Banks Portfolio Management, Product Development and IT resources to develop efficient processes that place loans approved through the 250.250 process into the held-for-investment (HFI) and/or held-for-sale (HFS) portfolios as desired. - Maintain a good working relationship with the appropriate leaders of the affiliate lending channels that are subjected to the 250.250 process. - Design, develop and deliver concise reporting that effectively communicates the status and production of the 250.250 approval process. - Working with Product Development and Portfolio Management, provide the credit support for the consumer lending channels requests for the Bank to invest in (one-off) loans (i.e. loans that do not fit the channels securitization or loan sale frameworks). - Develop/maintain a good working relationship with the credit function within RFG Operations Risk Management group to ensure Bank and RFG credit approval and underwriting guidelines are reasonably consistent. Other Responsibilities: - Serve as an initial contact and voice of the CCO with examiners for the Utah Department of Financial Institutions and the FDIC on credit-related matters involving the residential mortgage lending operations. This will also require a reasonable understanding of the top-down picture of the Bank?s residential mortgage credit risk. - Approve modifications presented by Servicing on performing Bank loans. - Maintain credit policies and procedures related to all responsibilities. - Receive delegated authority of the CCO on an as needed basis. - Other projects or initiatives as assigned by the CCO including potentially supporting the automotive lending operations residing in Utah.
REQUIREMENTS
1. Bachelor Degree in Business, advanced degree or professional licenses. 2. Minimum 15 years progressive experience working in a credit risk capacity with nationally recognized financial services company with a minimum of five years of managerial experience. 3. Demonstrated leadership capacity with strategic vision. 4. Ability to manage rapidly changing priorities and opportunities. 5. Ability to lead and manage staff members in remote locations and proactively communicate with a supervisor in a remote location. 6. Proven decisiveness with an extreme action bias and a strong results orientation. 7. Proven staff leadership, coaching and mentoring skills. 8. Superior planning, tactical implementation and time management skills. 9. Self-motivated with strong organizational skills, analytical talent and attention to detail. 10. Persuasive and effective verbal, written and public presentation skills. 11. Strong analytical/problem solving skills 12. Fluency in MS Word, Excel, Outlook, Access and PowerPoint. CONDITIONS OF WORK: 1. Position located in Salt Lake City, UTAH. 2. Overtime will be required 3. Ability to travel as necessary (10%-50%).