Deputy Chief Credit Officer, Managing Director

Job Description:

Position Summary

The Deputy Chief Credit Officer is a senior leader responsible for overseeing credit risk related to the Bank’s member and counterparty institutions, including credit analysis, monitoring, underwriting, and portfolio management. This role supports and reports to the Chief Credit Officer in managing the Bank’s overall credit risk framework and serves as a second-in-command in credit leadership. The position ensures that all member and counterparty-facing credit activities maintain strong risk discipline, support the Bank’s mission, and comply with regulatory requirements and internal policies.

Primary Responsibilities

Leadership & Management

• Lead and develop a high-performing credit risk team responsible for financial analysis, member and counterparty underwriting, portfolio surveillance, and risk reporting.
• Serve as acting Chief Credit Officer in their absence, ensuring continuity of credit decision-making and oversight.
• Foster a culture of disciplined risk management, professional development, accountability, and continuous improvement.

Member and Counterparty Credit Risk Oversight

• Oversee the evaluation and ongoing monitoring of member and counterparty financial condition, liquidity, and creditworthiness.
• Manage credit underwriting and approval processes for extensions of credit to members and counterparties, including capital market activities with Broker/Dealers, Derivatives Clearing Organization, etc.
• Ensure risk-based lending limits, exposure monitoring, and credit strategies align with the Bank’s risk appetite and regulatory standards.

Portfolio Analytics & Reporting

• Collaborate with the Managing Director for Credit Analytics and Operations Management to develop and maintain risk analytics, portfolio reporting, stress testing, concentration management, and early-warning monitoring for member exposures.
• Provide regular briefings and analysis to the Chief Credit Officer, various Risk Committees, and Board of Directors.
• Identify emerging risks, market changes, and potential impacts on the Bank’s member credit portfolio.

Policy & Governance

• Responsible for the development, maintenance, and enhancement of credit policies, underwriting standards, and credit governance frameworks.
• Ensure consistency and policy compliance in credit decisioning and documentation across all member and counterparty relationships.
• Support model development and validation activities related to credit risk scoring, and collaborate with Collateral Risk Management regarding collateral frameworks and loss estimation.

Regulatory & Compliance

• Ensure compliance with Federal Housing Finance Agency (FHFA) regulations, supervisory guidance, and internal controls.
• Support examinations, audits, and risk assessments conducted by regulators, internal audit, and external stakeholders.
• Drive process improvements to enhance accuracy, regulatory alignment, and operational efficiency.

Cross-Functional Collaboration

• Work closely with Collateral Risk Management, Enterprise Risk, and the Member Services and Relationship Management Team, Legal, and other internal partners.
• Serve as a strategic adviser for new products, member programs, and risk initiatives.
• Participate in enterprise risk management (ERM) programs, stress testing, and strategic planning processes.

Skills/Knowledge

Education

• Bachelor’s degree in Finance, Business, Accounting, Economics, or related discipline required.
• Advanced degree (MBA or related) and/or certification (CFA, FRM, CRC) strongly preferred.

Experience

• Minimum 15 years of progressive experience in credit risk management, financial institution analysis, or commercial lending.
• Demonstrated experience in a regulated financial institution government-sponsored enterprise, or Federal Home Loan Bank preferred.
• Minimum 10 years  supervisory experience, with proven success leading teams and making credit decisions in a high-volume, analytically demanding environment.
• Knowledge of the business of the Bank’s members; the range of Bank business and financial strategies, and the member and Bank associated financial, operations and regulatory risk.  An understanding of regulatory requirements, regulatory examination and enforcement processes of the FHFA, OCC, FDIC, FRB and NCUA.  A strong understanding of safe and sound banking practices.

Skills & Competencies

• Deep knowledge of credit analysis, risk modeling, and secured lending structures.
• Strategic and forward-looking mindset, including early identification of emerging risks and technology-driven disruption affecting our members and counterparties.  Strong leadership and communication skills are required to serve as a credible force for change in a risk-adverse environment.
• Excellent analytical, communication, and presentation abilities, including experience working with boards and regulators.
• Technical expertise and vision for credit underwriting systems, data, analytics, and operations. 
• Ability to balance mission focus with safety, soundness, and regulatory expectations.
• The ability to set vision and lead transformation within the credit risk function so that we keep pace with — and ideally lead — industry best practices.
• Executive-level communication skills to represent the function effectively with the Board, Leadership Team, FHFA, member regulators, and across the FHLBank System.
• Strong enterprise leadership and organizational navigation skills, including managing within regulatory protocols and governance expectations.
• A demonstrated track record of leading leaders and developing high-performing teams.

SALARY RANGE: $270K - $310K. 

The Federal Home Loan Bank of San Francisco is committed to the principles of equal opportunity in employment (e.g., employees, applicants) and in contracting (e.g., suppliers, vendors) regardless of race, color, religion, sex, national origin, disability status, genetic information, age, sexual orientation, gender identity, status as a parent, or any other characteristic protected by law. We are committed to cultivating a workplace free of unlawful discrimination, harassment, and retaliation, and are dedicated to fostering vibrant communities by serving as a reliable source of liquidity and resources for affordable housing and economic development.

Salary ranges reflect the base salary that the Bank reasonably expects to pay for a given role and is not inclusive of annual incentive award opportunities, retirement benefits or the value of other health and welfare or other ancillary benefits. We consider many factors when determining base salaries such as individual background and experience, the competitive environment, education, particular skill set(s), and industry and institutional knowledge.

The Bank is committed to offering all team members challenging and engaging work with market competitive pay, retirement, and benefit offerings. In support of this commitment, the Bank routinely engages in market competitive benchmarking surveys and analysis to ensure our team members continue to be paid fairly and competitively.