Bank of the FSM is seeking a senior executive to lead its credit function, loan portfolio, and credit risk framework. The Chief Credit Officer will oversee the Loan Department, organized into three lending silos—SME and Consumer Lending, Commercial Lending, and Credit Administration—driving safe, sound, and community-focused banking practices. The role offers a salary range of USD 70,000 to 90,000 per year and is based onsite in Aiea, Hawaii.
Responsibilities
- Develop and enforce FDIC-compliant credit policies, underwriting standards, and credit risk limits approved by the Board of Directors.
- Provide executive oversight of all lending activities to maintain prudent credit practices aligned with regulatory guidance.
- Monitor asset quality metrics including delinquencies, non-performing assets, charge-offs, concentrations, and emerging credit risks.
- Ensure accurate calculation and documentation of the Allowance for Credit Losses (ACL/CECL), including underlying assumptions, models, and governance.
- Lead portfolio stress testing and credit risk analysis to assess effects of economic and concentration risks.
- Participate in the Credit Committee and ALCO Committee.
- Balance prudent risk management with community banking objectives in underwriting standards.
- 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 practices.
- 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 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.
Requirements
- Bachelor’s degree in Finance, Accounting, Business Administration, Economics, or a related field.
- 8–10 years of progressive banking experience, including senior responsibility for credit administration or lending.
- Solid 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 in Pohnpei, Micronesia.
Benefits
- Housing
- Fully maintained car
- Utilities
- 4–5 weeks of annual vacation
- Annual home leave travel allowance
- Paid medical
- Life insurance benefits
- Senior Officers Annual Bonus
- Other seasonal benefits
Open/Closing Date
On-going
Location and Contact Information
Bank of FSM, Corporate Office, P.O. Box 98, Kolonia, Pohnpei FM 96941
Tel. (691) 320-2724 • Fax. (691) 320-5359 • Email: bofsmhq@bofsm.fm
Profile
Bank of the FSM is a full-service community bank with roughly $158 million in assets, a $51 million loan book, a sizeable US investment portfolio, and 98 staff dispersed across the North Pacific, spanning about 2,500 miles. It operates branches in all four FSM states and maintains a presence in Honolulu and Saipan. The corporate office is in Pohnpei. This opportunity invites a collaborative leader to join a focused, regional bank with a distinct lending approach and a commitment to community engagement.