Credit Risk Specialist
Branch Location: PEI
Join Atlantic Canada's largest credit union, Provincial Credit Union and become part of a team committed to positively impacting our island communities. Provincial Credit Union is honored to be recognized as one of Canada's Top 100 Employers for 2024! This achievement reflects our commitment to maintaining a dynamic and supportive workplace. Our core values of People, Purpose, and Possibility guide our mission of providing sound financial advice, planning, and education to our members. We believe in empowering our employees to deliver and support quality member experiences and fostering engagement within our communities. Join us in making a difference as we lead the way in serving the financial needs of islanders.
Who you are:
The Credit Risk Specialist will play a key role in driving the credit union's success by actively assessing, managing, and mitigating credit risk across our lending portfolio. This position is crucial in safeguarding the financial health of the credit union, ensuring optimal credit risk exposure, and proactively identifying potential areas for loss. The ideal candidate will collaborate closely with our lending, collections, and compliance teams to not only minimize risk but also uncover new opportunities for sustainable growth, helping us strike the perfect balance between prudent lending practices and member-focused innovation.
What You’ll Do:
- Review and adjudicate commercial and personal credit applications exceeding assigned lending limits or deviating from lending guidelines.
- Evaluate unauthorized overdraft requests and adjudicate annual credit reviews for both commercial and personal accounts.
- Assess personal mortgage applications from external brokers to ensure consistency across the branch system.
- Analyze financial statements, credit reports, and other documents to determine creditworthiness and approve or recommend loan applications within delegated limits.
- Assess and evaluate risks in loan applications, ensuring compliance with Provincial Credit Union policies.
- Monitor loan portfolio for emerging risk trends and recommend mitigation strategies as needed
- Work closely with lenders and managers to gather additional information and clarify application details.
- Provide clear, well-documented rationales for credit decisions.
- Ensure credit decisions adhere to policies, regulations, and industry standards.
- Assist in developing and refining lending guidelines.
- Support internal audits and post-funding loan reviews as needed.
What You Have:
Required Education and Experience
- 10+ years experience in a financial services role with a focus on credit analysis and credit granting.
- Bachelor’s degree in Finance, Accounting, Economics, Business Administration, or related field is considered an asset.
Skills and Abilities
- Demonstrated experience in commercial credit analysis and adjudication.
- Strong analytical and problem-solving skills, including:
- Intermediate to strong financial statement analysis skills.
- Ability to read and interpret business plans from a lending perspective.
- Approaches problem solving with innovation and creativity.
- Good working knowledge of the Canadian business and regulatory landscape.
- Management of credit risk in a loan portfolio would be an asset.
- Ability to manage multiple priorities and work effectively under tight deadlines.
- Intermediate Microsoft Office skills, including Excel.
- Demonstrated experience in customer service, supporting both internal and external client needs.
- Ability to work with complex information and navigate ambiguity at times.
- Proven success working pro-actively both independently and as part of a team.
- Strong written and verbal communication skills.
What we offer:
- Outstanding Culture: Join an engaged and community-focused team that fosters a positive work environment.
- Market Competitive Compensation: Enjoy a competitive salary along with an annual bonus program.
- Generous Benefit Package: We provide a comprehensive benefits package, including a flexible health and dental plan, sick time, and a Defined Contribution Pension Plan and Group Retirement Saving Plan with up to 9% employer contribution.
- Work-Life Balance: Start with three weeks of vacation per year, supplemented by four personal days and two volunteer days.
- Professional Development: Take advantage of tuition reimbursement, training programs, and career progression opportunities.
- Employee Perks: Enjoy additional perks such as an annual fitness and clothing allowance, reduced rates on employee loans and mortgages, and no service fees on banking transactions.
- Salary range for this position: $83,058 – $97,716.
Join our team at Provincial Credit Union and enjoy a rewarding career with competitive compensation, comprehensive benefits, and a supportive work environment that values your growth and well-being.
Please note that all offers of employment are conditional upon the acceptance of an Individual Fidelity Bond Application which includes a criminal check and a credit check.
Closing date is December 18, 2024
Diversity and Inclusion:
Provincial Credit Union invites applications from all qualified individuals. Provincial Credit Union is committed to employment equity and diversity in the workplace, and welcome applicants from diverse backgrounds. Accommodation is available for applicants with disabilities throughout the recruitment process.
