SENIOR LOAN OFFICER Sample Clauses

SENIOR LOAN OFFICER. (1) Effective immediately, the Board shall take the necessary steps to appoint a Senior Loan Officer with the knowledge, skills, and abilities necessary to correct the Bank’s deficiencies in credit underwriting, administration, and monitoring, and reach and maintain compliance with the credit related articles of this Agreement. The Senior Loan Officer, at a minimum, shall have extensive experience in commercial real estate lending and agricultural lending, as well as strong credit administration skills and leadership abilities. (2) The individual appointed to the Senior Loan Officer position shall be vested with sufficient executive authority to develop and implement appropriate credit risk management policies, procedures, and systems necessary to correct the Bank’s deficiencies in credit underwriting, administration, and monitoring, and reach and maintain compliance with the credit related articles of this Agreement. (3) Prior to the appointment or employment of the Senior Loan Officer, or entering into any contract with any person for this position, the Board shall submit the name and qualifications of the individual and the proposed terms of employment to the Assistant Deputy Comptroller for a prior written determination of no supervisory objection, and shall include the following information: (a) the information sought in the “Changes in Directors and Senior Executive Officers” booklet of the Comptroller’s Corporate Manual, together with a legible fingerprint card for the proposed individual; (b) a written statement of the Board’s reasons for selecting the proposed individual; and (c) a written description of the individual’s proposed duties and responsibilities. (4) The Assistant Deputy Comptroller shall have the power to disapprove the appointment of the proposed officer. However, the lack of disapproval of such individual shall not constitute an approval or endorsement. (5) If the Senior Loan Officer position described in this Article becomes vacant in the future, the Board shall take immediate action to employ, appoint, or designate a capable person to the vacant position who shall be vested with the authority and responsibilities outlined in Paragraph (2) of this Article. (6) If the Board is unable to appoint a qualified candidate in a timely manner, the Board shall provide documentation of its efforts to locate such a candidate to the Assistant Deputy Comptroller. Thereafter, the Board shall provide quarterly reports to the Assistant Deputy Compt...
Sample 1
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SENIOR LOAN OFFICER. Under the direction of the loan manager the Senior Loan Officer shall perform the following duties: The Senior Loan Officer is responsible for underwriting and coordinating the closing of consumer loans. Senior L/O must be able to retain knowledge of credit union policies, compliance issues and all loan products. The Senior Loan Officer is responsible for web-application distribution, DMV processing, research and credit disputes, Social Security income verifications, Credit life and disability processing as well as many other back office duties. The Senior Loan Officer is responsible for assisting with all loan department issues in the absence of the loan manager. Possess good communication and analytical skills.
Sample 1
SENIOR LOAN OFFICER. (1) Within one hundred twenty (120) days, the Board shall ensure the Bank has a competent Senior Loan Officer who possesses the skills and knowledge necessary to perform the duties of the position, is vested with sufficient executive authority to fulfill the responsibilities of the position, implements and supervises programs to reduce the level of credit risk, improve loan portfolio management, and reduce exception levels, and ensures the safe and sound operation of the Bank. The Board should also ensure the Senior Loan Officer receives training necessary to effectively perform the job. (2) The Board shall maintain a written description of the proposed officer’s duties and responsibilities.
Sample 1
SENIOR LOAN OFFICER. (1) Within ninety (90) days, the Board shall appoint a capable, permanent, and full-time Senior Loan Officer who shall be vested with sufficient executive authority to fulfill the duties and responsibilities of the position and ensure the safe and sound operation of the Bank’s lending function. (2) Prior to the appointment of any individual to the Senior Loan Officer position, the Board shall submit to the Assistant Deputy Comptroller the following information: (a) the information sought in the “Changes in Directors and Senior Executive Officers” booklet of the Comptroller’s Corporate Manual, together with a legible fingerprint card for the proposed individual; (b) a written statement of the Board's reasons for selecting the proposed officer; and (c) a written description of the proposed officer's duties and responsibilities. (3) The Assistant Deputy Comptroller shall have the power to disapprove the appointment of the proposed new senior loan officer. However, the lack of disapproval of such individual shall not constitute an approval or endorsement of the proposed officer. (4) The requirement to submit information and the prior disapproval provisions of this Article are based on the authority of 12 U.S.C. § 1818(b) and do not require the Comptroller or the Assistant Deputy Comptroller to complete the review and act on any such information or authority within ninety (90) days.
Sample 1
SENIOR LOAN OFFICER. (1) Within ninety (90) days of the execution of this Agreement and within ninety (90) days of any future vacancy in the position, the Board shall appoint a capable senior lending officer who shall be vested with sufficient executive authority to fulfill the duties and responsibilities of the position and ensure the safe and sound operation of the Bank. (2) Prior to the appointment of any individual to the senior lending officer position, the Board shall submit to the Assistant Deputy Comptroller the following information: (a) the information sought in the “Changes in Directors and Senior Executive Officers” and “Background Investigations” booklets of the Comptroller’s Licensing Manual, together with a legible fingerprint card for the proposed individual; (b) a written statement of the Board's reasons for selecting the proposed officer; and (c) a written description of the proposed officer's duties and responsibilities to include: (i) the role that the proposed officer will play in addressing the asset quality issues included in the XXX and in addressing the requirements specified in this Agreement; and (ii) a written assessment by the Board on how the proposed officer’s knowledge, background and experience qualifies him or her to fulfill the requirements of (c)(i) above. (3) The Assistant Deputy Comptroller shall have the power to disapprove the appointment of the proposed new senior executive officer. However, the lack of disapproval of such individual shall not constitute an approval or endorsement of the proposed director. (4) The requirement to submit information and the prior disapproval provisions of this Article are based on the authority of 12 U.S.C. § 1818(b) and do not require the Comptroller or the Assistant Deputy Comptroller to complete his review and act on any such information or authority within ninety (90) days.
Sample 1
SENIOR LOAN OFFICER. (1) Within forty-five (45) days of this Agreement, the Board shall take the necessary steps to appoint Senior Loan Officer with the knowledge, skills, and abilities, including but not limited to, the technical expertise and the leadership skills necessary to return the Bank to a safe and sound condition and manage its affairs thereafter in a safe and sound manner. (2) Prior to the appointment or employment of the Senior Loan Officer or entering into any contract with any person for these positions, the Board shall submit the name and qualifications of this individual and the proposed terms of their employment to the Assistant Deputy Comptroller for a prior written determination of no supervisory objection. (3) The Assistant Deputy Comptroller shall have the power to disapprove the appointment of the proposed new executive officer. However, the lack of disapproval of such individuals shall not constitute an approval or endorsement of them. (4) Within ninety (90) days of this Agreement, the Board shall ensure that it maintains qualified, competent management and staff to ensure the Bank operates in a safe and sound manner. In the event that the Senior Lending Officer position of the Bank becomes vacant, the Board shall take the necessary steps to fill the vacancy within sixty (60) days of receiving notice of such vacancy.
Sample 1
SENIOR LOAN OFFICER. (1) Within thirty (30) days, the Board shall define in writing the duties and responsibilities of the Senior Loan Officer, who shall be vested with sufficient executive authority to fulfill those duties and responsibilities of the position and ensure the safe and sound operation of lending function of the Bank. (2) The written description of the Senior Loan Officer’s duties and responsibilities shall be submitted to the Assistant Deputy Comptroller for review and prior determination of no supervisory objection. However, the failure to exercise such prior determination shall not constitute an approval or endorsement of the proposed description. (3) At least semi-annually, the Board shall evaluate the performance of the Senior Loan Officer to determine whether the prescribed duties and responsibilities are being fulfilled. If the Board determines through the evaluation process that the Senior Loan Officer is not fulfilling the prescribed duties and responsibilities, the Board shall take actions to ensure fulfillment of the prescribed duties and responsibilities.
Sample 1
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Related to SENIOR LOAN OFFICER

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