SVP Chief Credit Officer in Chicago, Illinois at Devon Bank

Devon Bank is an independent community bank serving the Chicagoland area and beyond. Our mission has always been to be the bank that the neighborhood needs—to tailor its service offerings to the needs and wants of the community. We are known for going the extra mile for our customers by offering personalized service and customized solutions. We are a full-service bank including home financing, trust and investments as well as a full range of business financing products.

The Chief Credit Officer directs all aspects of credit risk management, underwriting, policy development, and portfolio oversight. This role is responsible to ensure the bank maintains high credit quality, regulatory compliance, and profitable lending.

Key Responsibilities

• Oversee the development and implementation of credit policies and risk management strategies to minimize bad debts and maintain a healthy loan portfolio.
• Lead the credit approval process, ensuring all loans meet the institution’s lending criteria and credit quality standards.
• Manage the credit risk assessment team, guiding them in the evaluation of borrowers’ financial health and repayment capabilities.
• Design and implement effective credit monitoring systems to identify and address potential risks in the loan portfolio promptly.
• Collaborate with other senior management to align the credit department’s goals with the overall strategic objectives of the institution.
• Develop training programs for credit department staff to enhance their risk assessment skills and knowledge of industry regulations.
• Represent the institution in regulatory audits and examinations related to credit operations, ensuring compliance with all applicable laws and regulations.

• Proven experience managing credit functions in a bank environment
• Bachelor’s degree in finance, Business, or related field; MBA or advanced degree preferred
• 9+ years of progressive credit management experience in financial institutions, with at least 5 years at a senior leadership level
• Strong knowledge of regulatory requirements and expectations related to credit risk management
• Experience with credit portfolio management technology and analytics platforms
• Outstanding communication and presentation abilities, particularly with senior executives and Board members
• Excellence in developing credit talent and building high-performing teams
• Superior analytical, problem-solving, and decision-making skills
• Outstanding communication and presentation abilities, particularly with executives and board members

Pay Range and Benefits:

Base pay of $135,000 to $165,000 depending on experience

Life Insurance, short- and long-term disability fully paid by Devon Bank

Medical, Dental, Vision and 401k with employer match

EOE AA - Devon Bank is proud to be an Equal Employment Opportunity and Affirmative Action employer. We do not discriminate based upon race, religion, color, national origin, gender (including pregnancy, childbirth, or related medical conditions), sexual orientation, gender identity, gender expression, age, status as a protected veteran, status as an individual with a disability, or other applicable legally protected characteristics.

If you need assistance or an accommodation due to a disability, you may contact us at HumanResources@devonbank.com or you may call us at (773)- 465-2500.