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Portfolio Credit Officer
Auburn Hills, MI
Job Description
Vice President, Portfolio Credit Officer
The Vice President, Portfolio Credit Officer (PCO) is responsible for the overall monitoring, administration, and quality of their assigned portfolio/product(s). Responsibilities include verification of approvals, monitoring performance and leading governance for portfolio credit risk, testing and monitoring rules and procedures, recommending changes to rules or scoring parameters, owning related policies and procedures along with monitoring compliance, maintaining satisfactory audits and exams, and implementing action plans to correct any deficiencies. The Portfolio Credit Officer will work closely with operational teams that support the product, line of business, management that own the portfolio, and other Credit departments responsible for the credit risk oversight.
The Vice President, Portfolio Credit Officer (PCO) is responsible for the overall monitoring, administration, and quality of their assigned portfolio/product(s). Responsibilities include verification of approvals, monitoring performance and leading governance for portfolio credit risk, testing and monitoring rules and procedures, recommending changes to rules or scoring parameters, owning related policies and procedures along with monitoring compliance, maintaining satisfactory audits and exams, and implementing action plans to correct any deficiencies. The Portfolio Credit Officer will work closely with operational teams that support the product, line of business, management that own the portfolio, and other Credit departments responsible for the credit risk oversight.
Position Responsibilities:
Portfolio & Risk Management
- Serves as the Credit officer for the assigned portfolio.
- Manages the credit quality to ensure the Bank's interest is protected by managing to the expected loss as established by Comerica Bank's senior management.
- Monitors the performance of the portfolio according to established metrics.
- Comprehends automated scoring model and rules and corresponding impact to credit risk performance.
- Determines eligibility parameters for automated solutions.
- Leads governance and recommends changes for rules, scoring parameters and eligibility based on knowledge of parameters and significance of impact.
- Reviews deteriorating and charged off loans for insights and potential rule changes.
- Develops and owns Credit Policy for the assigned product.
- Develops work plans to address and correct issues and weaknesses identified in AQR, Internal Audit and Regulatory Exams.
- Chairs the governance committee, and other duties as assigned.
Testing & Data Integrity
- Defines testing scenarios; Identifies area of higher risk; Interprets and adjusts based on findings of tests.
- Oversees ongoing testing and monitoring required for the product(s), automated solutions and manual operations.
- Confirms and ensures accuracy of data inputs of key variables.
- Maintains current, accurate and complete procedures, while monitoring compliance to procedures and addresses non-compliance.
- Develops tactical and strategic recommendations for proper portfolio risk management.
- Designs and executes change management for line and Credit departments including presentations and training.
Portfolio Monitoring, Reporting, & Tracking
- Manages the concentration reporting process to maintain portfolio risk with Comerica Bank's established objectives.
- Develops and distributes appropriate portfolio reports for the assigned product(s) including credit metric performance.
- Establishes and maintains process for tracking for exception approvals.
- Recommends target levels for exceptions.
- Presents exception situations and reviews for trends or patterns.
Position Qualifications:
Minimum Qualifications:
- Bachelor's Degree from an accredited University
- 6 Years of experience of combined credit, underwriting, and lending experience -- 8 Years required if no formal credit training
Preferred Qualifications:
- 3 Years automated loan approval experience
- Completion of formal credit training
Comerica is proud to be an Equal Opportunity Employer - veterans/individuals with disabilities, committed to workplace diversity.
Job Summary
Start Date
As soon as possible
Employment Term and Type
Regular, Full Time
Required Education
Bachelor's Degree
Required Experience
6+ years
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