What are the responsibilities and job description for the Vice President, Risk Assets position at Farm Credit Illinois?
About Farm Credit Illinois (FCI)
FCI is a farmer-owned lending cooperative headquartered in Mahomet, Illinois, with $8 billion of owned, managed, and collaborated loan assets and investments. With a core purpose of Helping Farm Families Succeed, FCI is owned by 19,000 farmer, rural landowner, and agribusiness members in the southern 60 counties of Illinois. FCI is one of many Farm Credit System Associations which collectively serve all 50 states, Washington DC, and Puerto Rico.
At Farm Credit Illinois, we are committed to fostering a workplace that celebrates diversity, equity, and inclusion. We believe that a diverse team brings unique perspectives and experiences, making us stronger and more innovative to serve our members. We offer comprehensive benefits that include medical, dental, and vision, as well as paid time off programs, such as vacation, sick leave, parental leave, holidays, and more. FCI invests in employees' futures by offering a 401k plan with employer match, as well as professional development and learning opportunities to help our employees grow in their career. Our core values—family, integrity, relationships, expertise, and passion, are the foundation of our culture, and we strive to exemplify these values in every aspect of our association.
Why Join Us
Competitive compensation package. Grade and salary commensurate with experience, with an annualized base salary range of COMPENSATION.RANGE plus a bonus based on team and individual performance. This range is a good-faith and reasonable estimate of the range of possible compensation at the time of this posting.
Comprehensive benefit package includes 401(k) with 3% employer contribution and 6% employer match, vacation days, sick days, 13 paid holidays, parental leave, and volunteer leave, along with medical, dental, vision, and life insurance as further described at https://www.farmcreditfoundations.com/fcfbenefits/
Professional development and career growth opportunities.
Opportunity to work for a reputable and community-focused financial institution dedicated to a positive, collaborative work environment that encompasses the association’s mission to serve our members and the agricultural industry as we strive to help farm families succeed.
Description/Job Summary
The Vice President, Risk Assets maximizes returns and minimizes losses to the Association on existing high-risk loans while upholding our commitment to member service and regulatory compliance.
Responsibilities/Duties
- Develop strategies for delinquent accounts, including collateral analysis, negotiation for additional security, and recovery planning.
- Assess credit needs and compromises, including decisions on extending credit or settling debt.
- Monitor and analyze high-risk loans, update classifications, and recommend changes to interest accrual for delinquent accounts.
- Prepare detailed credit narratives highlighting financial trends, strengths, weaknesses, and compliance with lending standards.
- Perform credit and data analysis, ensuring accuracy of system data and financial statements; adjust for verified asset and debt values.
- Conduct risk assessments, assigning risk ratings and loss-given-default; determine or recommend credit approval/denial.
- Manage collections and recovery efforts, including negotiating alternative payment plans with borrowers and external parties (attorneys, accountants, lenders, Farm Service Agency).
- Engage professional and legal assistance for collection activities; select counsel and determine least-cost recovery strategies.
Required Skills
- Skill in negotiating complex agreements to achieve the best outcome for the organization
- Skill in utilizing a systematic approach to problem solving and loan collection
- Oral and written communication skills sufficient to discuss a variety of job-related topics, and to effectively communicate complex topics to a variety of audiences
- Working knowledge in credit analysis and legal/regulatory requirements
- Working knowledge of Excel, Word, PowerPoint, and Outlook sufficient to create, update and save a variety of documents
- General knowledge of production agriculture
- General knowledge of finance and macroeconomics
- Skill in differentiating significant and insignificant details
- Skill in utilizing technology to increase efficiency
Required Qualifications
Or equivalent education, experience, and skillset sufficient to perform the essential functions of the job.