Chief Credit Officer, Nelnet Bank

Nelnet is a diversified and innovative company committed to enriching lives through the power of service as a student loan servicer, professional services company, consumer loan originator and servicer, payments processor, renewable energy solutions, and K-12 and higher education expert. For over 40 years, Nelnet has been serving its customers, associates, and communities.

The perks of working at Nelnet go beyond our benefits package. When you join the Nelnet team, you're part of a community invested in the success of each individual. That support comes through in our work, as we are united by our mission of creating opportunities for people where they live, learn, and work.

The Chief Credit Officer (“CCrO”) is a senior executive officer of the bank that establishes credit and pricing strategy and policy under the direction of the board and CEO in support of the bank’s strategic plan. This position will chair the bank’s credit management committee and subcommittees and report the bank’s credit profile, strategy and risks and opportunities regularly to the bank’s board of directors.

The position establishes credit policy and procedures, provides structure and direction, credit model development and oversight, credit review, and credit approval within Nelnet Bank. In addition, the Chief Credit Officer (CCO) reviews and updates loan policy and procedures as appropriate to maintain the overall credit quality of the Bank’s loan portfolio. The CCO will establish and direct all lending activities, ensure the collections practices are appropriate, ensure fraud is managed and all other credit related functions of Nelnet Bank.

This position will analyze and present for approval the loan loss reserve calculation to credit committee to ensure the bank is adequately reserved for the risk in the loan portfolio. This position is responsible to set pricing of credit products to effectively price for risk and volume goals of the bank. This position will collaborate with the parent company to analyze loan portfolios and risk efficiently and consistently across credit portfolios.

In addition, this position will lead data analysts and other professionals responsible for developing credit models and providing analysis. This position will be particularly focused on the unique facets and products of the bank including related regulatory interactions, operational, technology, servicing, fraud, pricing and underwriting and all other execution required to operate the bank in a safe and sound manner consistent with all regulatory expectations.

Job Responsibilities

-  Collaborate with CEO in setting and driving organizational excellence that results in a strong credit management profile while delivering an exceptional customer experience, best in class employee satisfaction, and superior shareholder value

-   Chair Credit Committee and Committee participate

-  Provide reporting and analytics that engage a member of ALCO, Risk and Compliance, CRA Committees including participation in CECL, Stress Testing, Model Risk and standardized reporting system for credit risk metrics.

- Manage best practices to accomplish the bank’s goals within the bank’s risk profile and tolerance.

- Establish and own all bank credit risk management strategies, policies & procedures that include full credit life cycle including originations, pricing, account management, substandard loans, delinquencies, collections, loan workouts, and recoveries in alignment with the bank’s risk appetite framework and strategic plan.

- Develop a robust automated loan review process to ensure strict adherence to established credit, risk, and compliance policies and procedures.

– Hire and retain a team of talented credit professionals with industry and credit expertise.  

- Recommends adequate reserve levels for the bank’s loan portfolios.

-Works with the CEO and CFO to deploy the CECL methodology for management of loan loss reserves.

- Identify and evaluate economic, regulatory changes and other external factors as well as internal business strategies that could put the bank’s ability to succeed and meet its strategic plan at risk.

- Develop and ensure adherence to sound underwriting best practices, laws, and regulations.

- Manage all the bank’s lending operations, collection, and fraud activities.

- Manage the bank’s loan risk management process to monitor quality control and minimize losses.

- Review/analyze/approve all loans as required in the bank’s credit policy. 

- Inform the President/CEO, Board of Directors, and Credit Committee of any material considerations affecting loan portfolio or policy. Closely align with Risk Management, Compliance and Internal Audit to ensure optimal balance between safe and sound lending practices, compliance, and strategic busines