SVP-Credit and Risk Administration

Senior Vice President – Credit & Risk Administration

Worcester, MA

About Us:

Established in 1895, Bay State Bank is an approximately $550MM, Massachusetts-based mutual Bank. As a Bank owned by a mutual holding company, the Bank is effectively governed by its depositors, and its mutual ownership structure allows it to focus on long-term and community impact rather than short-term profits. BSB has seven branch locations in central Massachusetts. BSB is the only remaining Bank originally headquartered in Worcester, Massachusetts: the second largest city in New England. BSB is a value-driven organization committed to international actions and investments that position the Bank as the community’s preferred partner for Banking.

The Opportunity:

We are seeking an experienced and strategic Senior Vice President, Credit Risk & Administration to lead the oversight, governance, and ongoing administration of our commercial credit function.

This is a highly visible leadership role responsible for ensuring the strength, integrity, and performance of the Bank’s commercial loan portfolio. You will partner closely with Commercial Banking leadership and serve as a trusted advisor to executive leadership, Loan Committee, and the Board on all credit-related matters.

Key Responsibilities:

Credit Risk & Portfolio Oversight

• Provide strategic leadership over credit administration, portfolio monitoring, and risk rating integrity
• Proactively identify and mitigate emerging credit risks
• Oversee classified assets, delinquencies, and workout strategies

Underwriting & Credit Governance

• Ensure consistency and quality in underwriting and credit approval processes
• Review and challenge credit analyses and loan structures
• Promote sound credit practices aligned with loan policy and risk appetite

Executive & Board Engagement

• Lead credit reporting for Loan Committee, Executive Committee, and Board meetings
• Serve as a key participant in Loan Committee governance and decision-making

ACL & Financial Oversight

• Lead the Allowance for Credit Losses (ACL) methodology and quarterly analysis
• Partner with Finance to ensure appropriate reserve levels

Policy, Compliance & Regulatory Leadership

• Oversee loan policy development and ongoing enhancement
• Serve as primary liaison for regulators, auditors, and loan review

Operational Excellence

• Strengthen credit infrastructure, reporting, and workflows
• Ensure accuracy in loan documentation, reporting, and administration processes

Leadership & Talent Development

• Build and lead a high-performing credit administration team
• Foster a strong risk culture grounded in accountability and analytical rigor

Strategic Partnership

• Collaborate with business leaders to balance growth with disciplined risk management
• Provide insights on portfolio trends, market conditions, and credit strategy

About You:

·        10 years of progressive commercial banking experience, including senior leadership in credit administration

·        Deep expertise in underwriting, financial analysis, and portfolio risk management

·        Strong knowledge of regulatory frameworks and credit governance

·        Proven ability to lead teams and influence senior stakeholders

·        Executive presence with strong communication and decision-making skills

·        Strategic mindset with a disciplined approach to risk

·        Bachelor’s degree in Finance, Accounting, or related field (advanced degree or certifications preferred)

Why Bay State Bank?

·        Community-focused

·        Collaborative, values-based culture

·        Opportunity to shape credit strategy at a senior leadership level

·        Strong visibility with executive leadership and Board

Bay State Bank is committed to offering compensation that is fair, competitive, and informed by the market. The salary range for this position starts at $140,000 annually, with final offers determined based on a candidate’s individual qualifications, including experience, skills, education, and any relevant certifications.

We also take a thoughtful approach to internal equity, ensuring that compensation decisions are aligned with our existing team and consistent across the organization. As part of our commitment to growth and development, starting offers are typically positioned to allow for future progression over time.

We encourage open dialogue throughout the hiring process and welcome any questions related to compensation and benefits to ensure clarity and alignment for both you and our team.