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Job Description
Chief Credit Officer
HELP ME TAKE FAIRWAY AMERICA TO THE NEXT LEVEL!
“I am looking for an experienced credit professional to lead our credit and underwriting department including our loan portfolio and asset management function. This person will assume immediate leadership responsibility by taking over the President/CEO’s current dual role as CCO in charge of underwriting, approval, structuring, and managing of our loans. He or she will also be the strategist and a catalyst for our development of a reliable and scalable credit model that will support the additional strategic geographic markets we plan to enter and additional loan originations we expect. In addition, it is expected that this person will lead, develop and drive creative solutions to manage and ultimately reduce our delinquent loan balance and real estate owned. I envision the candidate for this position to be a talented, hard working credit professional who knows how to underwrite owner occupied and investment real estate loans but also knows how to communicate with people, effectively articulate his or her ideas and thoughts, and gain buy-in and engagement from others. This is a truly outstanding career opportunity with substantial responsibility and growth for the right individual.”
Matt Burk, President/CEO
At Fairway America, we are committed to our core values “ASPIRE” to greatness
- Act with Integrity
- Strive for Excellence
- People First
- Inspiring Goals and Visions
- Results Matter
- Empowering Each Other for Success
These values are alive at our company and we live them every day while pursuing our mission of “facilitating the success, growth, expansion and achievements of viable small owner operated businesses and commercial real estate owners by providing timely and reliable secured financing”. If a deal is not worthwhile for everyone (our borrowers, investors, Correspondents/Affiliates, and Fairway) we’d rather not do it at all.
For the “A player” looking for something special and who can answer "yes" to all of the following questions, this is the opportunity for you.
- Do you truly understand real estate – valuation, marketability, how it works, what makes it good or bad, stable or not stable, etc.?
- Do you have a track record of successfully analyzing financial statements and other credit related information of owner operated businesses and investment real estate?
- Can you use that knowledge to develop models that allow us to make reliable credit decisions and real estate valuations that will hold up over a broad geographic area?
- Are you an experienced commercial lender that understands that delicate balance between sales and underwriting?
- Do you know how to accurately assess risk and are not afraid to make a decision based on that assessment?
- Can you develop, implement and scale credit policies and/or underwriting guidelines?
- Do you have experience not only in managing a loan portfolio but also in the work-out and/or solution of distressed situations?
- Can you lead and manage others as well as a department?
- Can you understand and help develop strategy and also monitor the implementation of tactics?
- Are you able to effectively work closely with the sales/origination side of the business while making tough decisions on what credit risks to take and not take?
- Are you looking for more than just a job but a genuine career opportunity?
- Do you hate office politics as much as we do?
- Are you willing to take a position that has significant responsibility and leadership where the results of your decisions will have profound impact on the future success or failure of the organization?
- Do you have passion to succeed?
- Do you live by the maxim, “Say what you are going to do and do what you’ve said?”
If you answered "yes" to these questions, we want to meet you!
Our Company
Fairway America is a successful Portland, Oregon based and privately funded commercial real estate lender and mortgage banker. Through a simplified and streamlined process, Fairway America provides financing solutions for people who are unable or unwilling to get financed by more traditional lending sources. Every day, Fairway America helps borrowers solve difficult problems, meet pressing deadlines, or take advantage of excellent opportunities. While assisting these borrowers, we also enable our investors to earn above average returns they have difficulty obtaining elsewhere. Our conservative lending approach over the past decade has enabled us to weather this financial storm and positioned us to take advantage of unprecedented market opportunities while helping people who are otherwise unable to secure financing.
The Position
Fairway is seeking a “Chief Credit Officer” to build out and oversee the credit functions of the business including creation of scalable credit policy, new loan underwriting, collections, workouts and modifications, asset management, disposition, and recovery maximization. The Chief Credit Officer will report directly to the President/CEO. In this capacity, and as a member of the Executive Team, he or she will provide leadership, direction, recommendations, and support in the credit, underwriting, lending, collection, and asset management policies as well as new product and secondary market opportunities to grow originations, fee income, and portfolio size. The successful candidate will thrive not only in working on current deals in a timely fashion to accurately assess risk but also in developing processes and models to allow us to do so more efficiently for much a larger loan portfolio over a wider geographic area.
Responsibilities
- Oversee and manage the credit and collections department which initially consists of 3 people and upon growth would include a team of underwriters, field underwriters/appraisers, processors, closer/funders, portfolio administrators, and other staff.
- Lead the day-to-day underwriting/credit operations.
- Develop credit policies and procedures to ensure risk is in sync with company credit standards relative to returns.
- Liaise with the Sales department in terms of assisting with structuring and selling of loans based on company credit standards, risk ratings, etc.
- Lead and manage the Portfolio Manager to ensure prompt collections and to devise creative workout strategies for asset disposition and to maximize loan and REO recovery.
- Make or approve credit and underwriting recommendations and decisions on new loans as well as those in the current portfolio as necessary.
- Improve, define and create credit and underwriting policies going forward both for loans held servicing retained and for loans originated for sale into the secondary market, if any.
- Balance property value and financial creditworthiness of the borrower.
- Help develop and implement risk adjusted pricing models for new loans and communicate and implement policies effectively through other company stakeholders.
- Conduct comprehensive financial analysis of the credit worthiness of the borrower and their business.
- Review appraisals and internal valuations for accuracy and completeness.
- Inspect selected properties as necessary and make (or review and corroborate) determination of value.
- Build and maintain Approved Appraiser and similar 3rd party provider lists related to the credit underwriting function.
- Oversee growth of the department as we expand geographically.
- Recruit, hire and train underwriters, field underwriters, processors, loan servicing personnel, etc.
- Participate in audits with respect to the company’s credit and collections policies.
- Contribute to the research of new geographic markets that are desirable to enter based on demographics, competitive landscape, and other factors, and build out future infrastructure of Credit/Underwriting/Appraisal processes to support growth.
- Review, comment on and/or recommend additional strategic loan products we might choose to offer through our Correspondent/Affiliate network.
Qualifications
At Fairway America, your values, abilities, and demonstrable track record of success are generally more important to us than direct experience. That being said, an ideal candidate would have most or all of the following:
- 5+ years of direct experience in a significant supervisory role in a credit department of a bank, finance company, mortgage company, or other lender.
- 5-10 years experience in credit analysis and similar training specifically in the areas of commercial mortgage origination, lending, business financial analysis, property valuation, and loan servicing.
- Strong skill set and experience in financial credit analysis combined with desired track record in commercial property valuation/assessment.
- Conversant in and committed to LEAN, business process improvement (BPI), Six Sigma, or similar process improvement strategies. Demonstrable track record in this area.
- Knowledge of typical corporate financing structures and related credit documentation.
- Some portion of background/experience in asset based lending (hard money, factoring, equipment leasing, etc.) and developing credit policies valuing collateral located in disparate geographies.
- Experience with managing collections activity including workouts, special assets, foreclosure, REO, and asset management.
- Bachelors degree in Business, Finance, Economics, or Mathematics or a similar field; or equivalent experience.
- Ability to demonstrate a track record of having effectively managed a team of people.
- Sound understanding of credit risks, appraisals, cash flow analysis, and real estate.
- Strong analytic, management and communication skills.
- Strong computer skills, especially in MS Office programs.
- Demonstrable track record of success in related capacities.
Benefits
Fairway America is committed to maintaining a motivated, positive work environment full of great people who share, demonstrate, and live our core values. Take pride in working for a company that lives its core values, vision and mission/purpose and continually provides tangible value and benefit to its employees, brokers, borrowers and investors. Our benefits include:
- Competitive compensation package
- Medical & dental coverage
- Matching 401K plan
- Cafeteria plan (section 125 plan)
- Short term disability policy
- Company paid ongoing training and personal development
- Vacation, personal time off and company paid holidays
- Outstanding working environment
- Family friendly atmosphere and culture
- Working with other “A players” with a burning desire to win
Apply
If you feel you are an “A player”, are up for our challenging, demanding, and rigorous hiring process, and would like to join a dynamic, growing company, please begin your application process by going to our career center at:
Phone calls are not accepted.
