Chief Credit Officer

Position Overview

The Bank of FSM seeks an experienced executive to assume the role of Chief Credit Officer. The CCO provides top-level leadership for the Bank’s credit function, loan portfolio, and credit risk management framework, with direct responsibility for the Loan Department. This department is organized into three lending silos: SME and Consumer Lending, Commercial Lending, and Credit Administration. The role collaborates closely with the finance team on financial reporting, budgeting, capital planning, and internal controls, and is essential to safeguarding asset quality, financial stability, and sound banking practices. Preferred contract term is a minimum of three years, with opportunities for renewal or advancement.

Key Responsibilities

• Develop and maintain FDIC-compliant credit policies, underwriting standards, and credit risk limits approved by the Board of Directors.
• Provide executive oversight of all lending activities to ensure safe and sound credit practices aligned with regulatory guidance.
• Monitor asset quality metrics, including delinquencies, non-performing assets, charge-offs, concentrations, and emerging credit risks.
• Ensure accurate and timely calculation and documentation of the Allowance for Credit Losses (ACL/CECL), including assumptions, models, and governance.
• Lead portfolio stress testing and credit risk analysis to assess impacts of economic and concentration risks.
• Participate in the Credit Committee and ALCO Committee.
• Balance underwriting standards to support prudent risk management alongside community banking objectives.
• Oversee commercial and corporate lending activities, including credit analysis, loan structuring, collateral evaluation, and covenant compliance.
• Ensure adherence to concentration limits, loan approval authorities, and FDIC supervisory guidance.
• Support relationship-based lending while maintaining disciplined credit risk management.
• Represent the Bank with the FDIC, state regulators, auditors, and external stakeholders as required.
• Oversee problem loan identification, workout strategies, and collection efforts.
• Prepare property evaluations and review appraisals as needed for CRE requests.
• Prepare and present comprehensive credit and financial reports to the Board of Directors and Board committees.
• Ensure compliance with FDIC regulations, supervisory guidance, and internal policies.
• Contribute to enterprise risk management, internal control frameworks, and policy development.
• Promote ethical conduct, accountability, and the Bank’s mission as a community-focused financial institution.
• Other duties may be assigned.

Qualifications and Experience

Required:

• Bachelor’s degree in Finance, Accounting, Business Administration, Economics, or a related field.
• Minimum of 8–10 years of progressive banking experience, including senior responsibility for credit administration or lending.
• Demonstrated knowledge of FDIC regulations, credit risk management, and safety and soundness standards.
• Strong leadership experience managing multi-functional teams.
• Willingness to relocate to the Corporate Office located in Pohnpei, Micronesia.

Preferred:

• Master’s degree (MBA or related discipline).
• Experience overseeing finance or accounting functions within a regulated financial institution.
• Prior executive or interim CEO experience.
• Direct experience interacting with FDIC examiners and Boards of Directors.

Compensation and Benefits

Salary range: USD 70,000 to 95,000, depending on experience and skills, plus benefits including housing, a fully maintained car, utilities, 4 to 5 weeks of annual vacation, annual home leave travel allowance, paid medical and life insurance, a Senior Officers Annual Bonus, and other seasonal benefits. Modest tax rates apply in FSM; candidates should inquire about the net impact to their home country taxes where applicable.

Location and Application

Location: ‘Aiea, HI 96701

Open/Closing Date: On-going

Interested candidates may contact the information above or email for detailed information. Applications should be sent to the Human Relations Manager, Caroline Movick-Abraham, HRM, at [email protected], or inquiries may be directed to [email protected].