Vice President, Credit

  • CompanyLibro Credit Union
  • Job TypeAdministration
  • Job TypeFull Time
  • ResumeRequired
  • Cover LetterNot Required
  • Application Deadline06/04/2024

Job Description

Who We Are

Imagine working for an organization where every employee and customer is an Owner.


No matter whether a customer Owner or employee Owner, everything we do at Libro is about helping people prosper. We recruit and develop experts like you; Epic Humans who are ready to offer the best possible advice, coaching and service, when and how our Owners need it.


Libro is a progressive employer who invests heavily in the development and career ambitions of our staff. Our hiring philosophy is focused finding candidates who carry a positive attitude, a desire to learn, and a passion for helping our staff and Owners (customers) grow financial confidence. We commit to teaching and supporting you as you learn the skills you need.


What Opportunity Awaits?


As we continue to grow progressively, Libro is on a mission to find a passionately accountable VP Credit at our London Administration office.

Reporting to the Chief Risk Officer, the VP Credit provides overall leadership to establishing credit risk management governance frameworks and standards. This entails the responsibility to review and approve/recommend credit transactions within the assigned delegated lending authority (DLA) in line with the credit union’s enterprise strategy, and Risk Appetite. This role is responsible to monitor and analyze portfolio quality, including the watch list and non-performing accounts. This role also oversees the compliance with credit risk regulation, industry concentration limits and other monitoring limits, caps and matrices and reports any emerging risks to the relevant risk committees within the credit union’s risk governance framework. It also develops and maintains credit risk policies within the credit risk appetite of the Credit Union.

Leadership Principles:

  • Agile, Bold, Inspiring, One Team, Accountable, member-centric
  • Listening, Understanding and Responding
  • Self Confidence
  • Achieving Results Through People
  • Inspiring Others through Coaching
  • Problem Solving and Judgment
  • Decision-Making on the Job
  • Alignment and Focus
  • Teamwork and Cooperation

Key Duties & Responsibilities – Position Accountabilities:

  • Ensure the strategic direction for credit risk management practices is within the risk tolerances and growth objectives established by the Board and the Executive Leadership Team (ELT).
    • Identify, develop, maintain and amend credit risk corporate policies, procedures and processes required to effectively adjudicate enterprise credit exposure within the credit risk appetite.
    • Work with business units to enable implementation of business strategies and to optimize the growth and return opportunities available within company risk tolerances.
    • Participate in the assessment of new business line opportunities and initiatives to oversee the analysis of credit risk factors and recommend structure required to maintain the Company’s credit risk standards.
  • Oversee the quality of the credit portfolio within the risk appetite.
    • Approve loan and transactions within assigned DLA.
    • Recommend applications transactions for credit committee’s approval based on an analysis of broad and specific credit risk issues, policy compliance issues and adherence to strategic initiatives.
    • Responsible for the credibility and reliability of the borrower risk rating models.
    • Work with the Business to ensure appropriate training is in place for front office lenders.
    • Opine on the level of credit limits delegated to first line business unit staff as part of the DLA sign off process.
    • Monitor effectiveness of lending process by conducting post approval reviews and adjusting processes and recommending changes to policies as required.
    • Oversee, monitor and report on the quality of the credit portfolio as measured by key risk performance indicators within the credit risk appetite.
    • Review and provide input on industry reviews and recommend industry concentration limits as it applies to the credit performance and quality of the portfolio.
  • As a People Leader, coach individuals and teams to develop and grow in their roles, to perform at a higher level and to embrace change; inspires others; builds motivated, high performing teams; understands what motivates different people.
  • Ensure appropriate management of the loan portfolio and adequacy of specific loan loss provisioning.
  • Provide guidance to special account management unit on the management of problem loans by providing input on strategies to reduce risk of loss and determine appropriate work out strategy and provisions.
  • Assess specific loss anticipated on impaired accounts utilizing input of business units, experienced judgment and methodology established by regulators.
  • Review adequacy of write-offs.
  • Comply with standards established by FSRA and other regulators.
  • Report on credit risk condition of the credit portfolio, including emerging risks and significant events and the portfolio strategy, including:
    • Portfolio quality, trends, diversification, NPL and delinquency rates, single name exposures and adherence to regulatory/ internal credit risk monitoring caps and matrices.
    • Large exposures and specific industry concentrations.
    • Status and management of the monitored and non-productive loans along with assessment of the appropriateness of specific reserves in place.

Technical Knowledge and Competencies:

  • Advanced knowledge and experience with all aspects of credit including commercial term loans, operating loans, commercial real estate loans, commercial leases and residential mortgages and retail credit.
  • Comprehensive understanding of enterprise-wide strategic credit policy development.
  • Comprehensive understanding of financial analysis required as part of the credit risk assessment process.
  • Advanced knowledge of industry lending practices and credit risk regulatory requirements.
  • Advanced knowledge and experience in management of loan workouts, loan recovery, distressed asset valuations and bankruptcy/insolvency regulations and processes.
  • Comprehensive written communication and public speaking skills.
  • Comprehensive ability to plan, develop, prioritize and implement credit plans.

Could this be you? Are you ready to Be Libro?

  • Do you have a passion for growing prosperity in Southwestern Ontario by transforming banking through developing others and inspiring financial happiness?
  • Are you an Epic Human; joyful in your work, passionately accountable, a bold explorer and mutually inclusive?
  • Do you have an undergraduate degree in finance, business administration or commerce?
  • Do you have 10 years’ senior level commercial experience in credit risk management, policy development, credit analysis and deal structuring?
  • Do you have experience in commercial lending, real estate lending, leasing, residential mortgage lending, retail credit, loan recovery and bankruptcy/insolvency processes?
  • Do you have previous experience in a leadership role with strong coaching skills, clear accountability for the business strategy and a strong track record of delivering results in a positive team environment?

How we bring Joyful in our work:

  • Competitive salaries and employee pension plans
  • Comprehensive benefit package, with all premiums paid for by Libro!
  • Generous vacation time
  • Employee wellness programs
  • Staff accounts and staff rates on products and services
  • Staff appreciation programs and awards
  • Career development opportunities including tuition assistance
  • Many great perks and rewards; fitness club discounts, technology offers, travel and entertainment deals, just for being part of our great team! 


If you’re passionate about helping your community, interested in being part of a remarkable team, and want to help grow prosperity in Southwestern Ontario – we want to hear from you!


With a purpose beyond profit, Libro Credit Union is proud to be a Certified B Corporation, joining leaders of a global movement of people using business as a force for good. Serving families, farms, and enterprises in southwestern Ontario, Libro offers an inclusive, forward thinking approach to banking – all centered on growing prosperity. Libro pursues its purpose through four key pillars – employment, financial resilience, local food accessibility, and housing.


Libro is committed to fostering a safe, healthy, and inclusive work environment that inspires respect. As an inclusive employer we are committed to providing a fully accessible recruitment process. Email us at any time during the recruitment process to let us know what supports you may need to be successful.

Apply directly on the Libro careers website HERE.