Chief Credit Officer

About the Position The Chief Credit Officer (CCO) position is to lead the bank’s credit function and ensure the integrity, quality, and growth of its lending portfolio. The CCO will be responsible for overseeing all aspects of credit risk management, including underwriting standards, portfolio performance, policy development, and regulatory compliance. This executive-level role will provide leadership and direction to the credit team, ensuring sound credit decisions that align with the bank’s risk appetite and strategic objectives. The Chief Credit Officer plays a critical role in shaping credit strategy, maintaining asset quality, and supporting business development across commercial lending products. The CCO will possess deep expertise in credit analysis, risk mitigation, and regulatory frameworks, along with strong leadership and communication skills. The CCO is required to collaborated across departments, including sales, operations, compliance, and executive leadership, and will involve regular reporting to the Board of Directors and shareholders. Role is based in Salt Lake City, UT. Open to remote, but willingness to travel frequently to Salt Lake City. Essential Duties and Responsibilities: The essential functions include, but are not limited to, the following:
Provide strategic oversight of the Bank’s Credit Risk Management framework.
Own and manage the Bank’s credit policy ensuring alignment with regulatory standards and business goals.
Oversee portfolio performance and reporting, including credit quality, concentration risk, and emerging trends. Chair and lead Credit Committee meetings.
Chair of the Bank Loan Committee
Review all deals that go to the Bank Loan Committee, or that need additional review.
Establish and maintain underwriting standards for all Bank products.
Oversight of risk/loan grading for all loans to ensure consistency and accuracy.
Oversee modeling and analysis of default risk and probability of default loan calculations.
Management of underwriters in conjunction with business unit leaders, where applicable.
Oversight of Legal work as it relates to workout loans.
Ensures regulatory compliance in the credit function of the Bank.
Oversight of credit risk management for the Bank
Provide board-level reporting on credit risk exposure and portfolio health.
Support business unit leaders with screening and structuring of new credit opportunities.
Assist with monitoring of Third-Party Originators (TPO’s) related to leasing to ensure adherence to Bank Standards.
Management and oversight of the Bank’s Watch List, including escalation protocols and resolution strategies.
Oversight of relationships and partners who help the Bank manage credit exposure.
Assist Chief Financial Officer in preparation of the Allowance for Credit Losses and adequacy of reserves.
Development and oversight of portfolio stress testing.
Oversight of disposition strategies for other Real Estate Owned (OREO) and Other Asset Owned (OAO).
Work with Operations and Business Unit Leaders in establishing standard file conventions and ensure that systems support the credit operations.
Serve as a key advisor to executive leadership on credit-related matters, contributing to strategic planning and growth initiatives.
Lead Safety and Soundness regulatory exams related to the Bank’s loan book
Ensure alignment of credit practices with the Bank’s overall risk appetite and business objectives.
Foster a culture of accountability, transparency, and continuous improvement within the credit organization.
Provide mentorship and leadership development for credit team members, promoting succession planning and talent retention.
Perform other related duties as assigned. Minimum Qualifications (Knowledge, Skills, and Abilities)
Extensive experience in commercial lending, including equipment finance, asset-based lending (ABL), Small Business Administration (SBA), real estate, and working capital solutions.
Proven expertise in credit risk management, loan grading, portfolio stress testing, and default probability modeling.
Strong understanding of regulatory requirements and compliance standards applicable to credit and lending functions (e.g., OCC, FDIC, FRB).
Advanced proficiency in financial statement analysis, cash flow modeling, and credit underwriting.
Expertise understanding of credit bureau data sources such as Experian, TransUnion, PayNet, and third-party originator oversight.
Successful in leading and developing high-performing credit teams, with a focus on mentorship, succession planning, and talent retention.
Excellent communication and presentation skills, with the ability to convey complex financial concepts to executive leadership, board members, and external stakeholders.
Strategic mindset with the ability to align credit practices with the bank’s overall risk appetite and business objectives.
Strong decision-making capabilities, especially in ambiguous or high-pressure situations, with a balanced approach to risk and growth.
Experience managing legal aspects of workout loans, OREO/OAO disposition, and collateral enforcement.
Ability to collaborate cross-functionally with business unit leaders, operations, legal, and finance to support credit strategy and execution.
High level of integrity, discretion, and professionalism in handling sensitive credit matters and regulatory interactions.
Proficiency in credit risk systems, portfolio management tools, and reporting platforms. Education:
Bachelor’s degree in Finance, Accounting, Economics, Business Administration, or a related field is required. Physical Demands and Work Environment: The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this position. Reasonable accommodations may be made to enable individuals with disabilities to perform the functions. While performing the duties of this position, the employee is regularly required to talk or hear. The employee frequently is required to use hands or fingers, handle or feel objects, tools, or controls. The employee is occasionally required to stand; walk; sit; and reach with hands and arms. The employee must occasionally lift and/or move up to 25 pounds. Specific vision abilities required by this position include close vision, distance vision, and the ability to adjust focus. The noise level in the work environment is usually low to moderate. Professional office setting, primarily sedentary position requiring long periods of time working at a computer. Location This is a hybrid position reporting to our Salt Lake City, UT office three days a week (Tues. Wed. Thurs). Open to remote, but willingness to travel frequently to Salt Lake City. Note: This job description in no way states or implies that these are the only duties to be performed by the employee(s) incumbent in this position. Employees will be required to follow any other job-related instructions and to perform any other job-related duties requested by any person authorized to give instructions or assignments. All duties and responsibilities are essential functions and requirements and are subject to possible modification to reasonably accommodate individuals with disabilities. To perform this job successfully, the incumbents will possess the skills, aptitudes, and abilities to perform each duty proficiently. Some requirements may exclude individuals who pose a direct threat or significant risk to the health or safety of themselves or others. The requirements listed in this document are the minimum levels of knowledge, skills, or abilities. This document does not create an employment contract, implied or otherwise, other than an “at will” relationship. E-Verify Milestone participates in the U.S. Department of Homeland Security E-Verify program in all facilities located in the United States and certain U.S. territories. The E-Verify program is an Internet-based employment eligibility verification system operated by the U.S. Citizenship and Immigration Services. The company is an Equal Opportunity Employer, drug free workplace, and complies with ADA regulations as applicable. We kindly request that recruiters, staffing agencies, and third-party sourcing individuals refrain from applying or contacting us regarding job opportunities.