SVP/Chief Credit Officer

About Blue Foundry Bank
This is the Bank Where Things are Made. Blue Foundry is a bank where businesses are shaped, plans are formed, ideas are refined, solutions are built, and stuff gets done. Blue Foundry is revolutionary, bold, resourceful, roll-up-your-sleeves committed, smart, creative and fun. A Bank of movers, shakers, and makers...We are a Bank that Gets Things Done.

At Blue Foundry Bank we invest in the well-being of our most prized asset...our employees! We provide a robust array of programs and benefits to help employees advance their careers and enhance the quality of their lives. Our experiential learning and development program ensures employees are on track to grow their career as of day one.

In addition, our comprehensive compensation package includes; medical, dental, and vision coverage; life insurance, short- and long-term disability insurance; 401(k)/Roth with company match up to 5%; paid time off, and 11 paid holidays; employee referral bonus; and educational reimbursement.

Position Summary

The Chief Credit Officer (CCO) will play a vital leadership role in shaping and maintaining a strong, community-centered credit culture. As a trusted steward of the Bank's credit portfolio, the CCO will be responsible for setting credit policy, refining underwriting standards, and ensuring sound, consistent credit decisions that support both the Bank's mission and its customers.

This role will lead all areas of portfolio credit management, including underwriting, credit screening and analysis, appraisal oversight, asset recovery, loan collections, loss forecasting, and ongoing credit quality monitoring and reporting. The CCO will implement specific performance metrics to ensure data-driven insight into portfolio health and risk exposure.

Key responsibilities include:

• Chairing the Asset Recovery Committee, Credit Risk Subcommittee, and Collections Working Group.
• Serving as a core voting member of the Bank's Loan Approval Committees, ensuring that credit decisions align with sound risk management and the Bank's community-oriented mission.
• Partnering closely with commercial and residential lending teams to ensure high-quality service and responsible credit growth within our local markets.

Additionally, the CCO will oversee and support the effective utilization of the Loan Origination System (LOS), helping streamline credit workflows and improve operational efficiency.

With four direct reports, the CCO will take a strategic approach to team development, enhancing the Bank's credit infrastructure by identifying skill gaps, recruiting top talent, and fostering a culture of mentorship and continuous improvement.

Position Responsibilities

Strategy, Leadership & Administration:

• Collaborates with executive leadership to develop, maintain, and enforce the Bank's credit policy guidelines, ensuring alignment with regulatory expectations and protecting the overall credit quality of the organization.
• Provides strategic direction and hands-on support across key credit functions, including underwriting, portfolio management, loan review, credit policy, and special assets/workout. Ensures each function operates efficiently, consistently, and in accordance with established credit standards.
• Oversees day-to-day operations within the credit department, ensuring quality control, effective resource allocation, and organized workflows. Supports the functionality and optimization of the Loan Origination System (LOS) to enhance operational efficiency and data integrity.
• Actively participates in the Asset/Liability Committee (ALCO), contributing insight into strategic asset composition, yield management, and asset class allocation. Plays a key role in the Enterprise Risk Management (ERM) process, focusing on credit risk metrics, emerging risks, and portfolio reporting.
• Leads performance management efforts including appraisals, coaching, disciplinary actions, and career development. Manages staffing, recruitment, and training initiatives to build a highly effective, cross-trained credit team with strong internal bench strength.
• Prepares and presents regular updates on credit trends, loan portfolio performance, and risk exposures to the Board of Directors and executive management. Ensures timely and transparent communication regarding credit quality, concentrations, and other key risk indicators.

Underwriting, Loan Policy, Credit Approval & Loan Review:

• Maintains the segregation of an independent credit risk function.
• Sets governing standards and directives for the underwriting of credit inclusive of:
  • Credit Limits
  • Industry exposures
  • Collateral Advance Rates and Evaluation Guidelines
  • Financial Performance Benchmarks and Thresholds
  • General Pricing Guidelines
  • Credit Offering Templates
• Provides for the efficient enforcement of credit policy during the approval process to ensure validation of policy and underwriting compliance.
• Reviews and approves/declines commercial loans, including construction, commercial and multi-family loans prior to their submission to Loan Committee and/or Loan Oversight Committee (LOC); reviews consist of making recommendations on loan structure, terms, and pricing so as not to expose the Bank to undue credit risk.
• Oversee the Appraisal engagements and reviews to ensure appraisal independence.
• Manages the process, and leads negotiations, for all participation loan sales and purchases.
• Prepares and distributes credit information covering loan quality trends, growth trends, loan product concentrations; works closely with other lending staff in reviewing such topics as local real estate data and assessing the impact on the Bank's loan portfolio; completes studies or projects on certain industry sectors and/or credit products ultimately resulting in position papers and/or underwriting directives.
• Ensures that individual loans are risk rated correctly; maintains and manages an effective risk rating system commensurate with current industry standards.
• Review CECL reports and recommend adjustments to the methodology as necessary to ensure the Bank has adequately reserved for the risk inherent in the Bank's portfolio.
• Ensures implementation and department compliance with all applicable state and federal regulations, including the timely completion of assigned compliance education courses. Ensures that deviations from policy are corrected and reported.
• Assures audit compliance and procedure quality control are maintained for the department and Bank; reviews, recommends and initiates corrective actions and ensures department is compliant with established Bank policies, procedures and state and federal regulations.
• Interfaces with Regulatory Agencies, Loan Review and other Credit Group vendor(s).
• Participates as a member of the Bank's Asset/Liability Management Committee (ALCO), Loan/Credit and Asset Recovery Committees. Participates in the Board ERM Committee and Management ERM Group committee. Participates in the Bank's senior management and officer meetings. Participates in the Bank's annual planning and budgeting meetings.
• Oversee the stress testing of the Commercial Real Estate portfolio

Position Requirements

• Bachelor's degree required; an MBA, advanced degree, or completion of a graduate banking program (e.g., Stonier) is strongly preferred.
• Formal credit training is required.
• Minimum of 15 years related experience in credit administration, with deep expertise in C&I, Commercial Real Estate, Construction, SBA, Residential lending, and loan portfolio management.
• Prior experience as a credit executive in a large community, regional, national or international financial institution.
• Senior management experience, including active engagement with executive leadership teams and Boards of Directors.
• Strong background in loan portfolio management, credit policy development, and regulatory compliance.
• Experience with loan participations, syndications, and secondary market loan pool purchases (commercial and residential).
• Familiarity with publicly traded bank credit protocols, including asset reporting and holding company structures, is highly desirable.
• Demonstrated ability to develop and execute strategic plans and annual operating budgets for the credit function.
• Extensive knowledge of credit risk management, underwriting, credit policy formation, and regulatory guidance (including FDIC/FIL and other federal oversight).
• Comfortable with technology as a tool for innovation, including experience with data analytics, credit scoring models, and Loan Origination System (LOS) functionality.
• Strong pipeline management capabilities and integration with lending and retail divisions, including workflow optimization and pull-through reporting.
• Strong ability to translate complex credit and risk data into actionable insights for leadership and Board-level audiences.
• Proven relationship management skills, with the ability to inspire trust, build consensus, and collaborate across departments.
• Ability to assess and clearly communicate the implications of strategic credit decisions on the Bank's risk profile and performance.
• Demonstrated commitment to professional growth through ongoing industry education.

All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, LGBTQ, national origin, disability or protected veteran status.