Shane P. Carosi

Princeton,WV

Overview

years of professional experience

Work History

Senior Vice President| Senior Special Assets & Credit Officer

BLUE RIDGE BANK

Richmond, VA

01.2023 - Current

Lead and direct initiatives to improve credit processes and culture across all divisions of the bank.
Serves as a member of Management Loan Committee. Collaborates with management, credit, and the relationship managers to develop new credit requests to maximize approval success while mitigating risk through loan structure and documentation. Reviews all requests that go to Committee for approval for presentation accuracy and assure it aligns with the long term credit culture and risk tolerance.
Serves as member of Watchlist Committee and the ACL Committee. Develops short and long term resolution plans to improve overall asset quality while minimizing loss to the bank and balancing reputation risk in the communities we serve. Participates in the implementation of plans, policies and monitoring of ongoing progress.
Actively manage the overall credit concentrations and develop recommendations to ensure compliance. Overall credit risk and appetite statements are derived from the strategic objectives to stay within concentration guidelines.
Audits lines of business for executive management. Provide feedback on each line of business and provide executive summary on recommendation of maintain, exit, or grow based on the bank's 3-year strategic plan. Review of profitability, compliance, market risk, and product risk are all involved in this process.
CECL review quarterly once completed. Ensure that the methodology and calculations are accurate and report overall results to executive management.
Approves consumer and commercial loans exposure up to an amount so designated by the bank.
Reviews all loan policy annually and recommends loan policy changes for annual approval.
Reviews and approves loan policy exceptions, when appropriate and properly mitigated.
Makes suggestions for process improvements and workflow efficiency.

Senior Vice President | Market President Southern WV

TRUIST (BB&T)

01.2017 - 01.2023

Led and directed multi-state region of 12 retail banking centers and commercial team.
Participate in strategic marketing, planning and budgeting for assigned region.
Provided management with strategic market consolidation which led to greater efficiency and profitability by combining markets in 2017.
Net income increased from $7MM at YE 2017 to $22MM at YE 2022.
The efficiency ratio was at the top of the entire Truist organization with YE 2022 ratio at 22%.
Managed the consolidation of 4 branches within my network as the company executed the branch optimization plan. Retained over 99% of the client base in the areas we closed branches.
Assist in hiring, training and managing a staff of over 75 team members.
Conduct performance evaluations for direct reports and approve performance reviews for indirect reports.
Monitor incentive and production plans to motivate employees to accomplish company objectives and goals.
Produce individual loan production and cross sale all other products and lines of business. Highest production and overall annual percentage of goal in the entire WV region each year of employment.
Manage borrowing and depository relationships with commercial clients throughout assigned region.
Drive personal and staff business development to achieve production and referral goals.
Establish new commercial client relationships through direct sales calls, community involvement, and leveraging engagement of local advisory board members.
Reorganized and recruited new members for local advisory boards which increased engagement and new business opportunities.
Analyze customer financial statements, management background and market/industry research to determine financial and business strengths and opportunities.
Managed very granular and diversified individual commercial loan portfolio of $150,000,000.
Mentor junior commercial lenders and market leaders to train them in product knowledge, loan underwriting and structuring, and goal achievement. Fostered a team environment with expectations and accountability.
Improved all compliance and audit review scores. All branches and the commercial team overall scores improved from bottom tier to top tier during tenure.
Instituted cross-departmental sales strategies to foster collaboration among departments.
Supports bank's risk framework through adherence to policies, procedures, processes, controls, products, and systems.
Three branches in my region were in the top five of all Truist branches for average daily transactions consistently.
Utilize company provided sales leads in addition to customer referrals to sell various loans.
Loan underwriting, processing, closing, post-closing processes and document reviews for both commercial, small business and consumer loans.
Extensive credit analysis to determine best product to meet customer's needs while minimizing credit risk to branch and company.
Negotiate contracts and loan structure to best meet client's need within bank's policy guidelines.
Review legal documents, loan applications and contracts for accuracy.

Vice President | Credit Administration & Special Assets Manager

FIRST COMMUNITY BANK

01.2011 - 01.2014

Developed, consolidated, and managed multiple divisions across the bank's 5 state footprint.
Provided oversight and management to the Construction Lending, Floor Plan Lending, Credit Card Lending, and Overdraft Honor Departments. Created processes and implements actions to improve efficiency and compliance to maximize profitability and minimize risk.
New loan authority up to committee level. Presented all loans with exposure amount that require loan committee Approval.
Managed remote office in Whitesville NC that was acquired under the FDIC Loss Share program. Created and implemented process and procedures to manage $275MM portfolio under the guidelines required by the FDIC to ensure loss share payments. This was the first FDIC Loss Share acquisition for the bank. Onsite leadership for over two years.
Active member of the credit due diligence team that reviewed over 20 institutions in 30 months for acquisition. Reported findings and recommendations directly to executive management and the board.
Onsite representative for several mergers to train credit culture and risk appetite. Handled staff recommendations to executive management post conversion to identify efficiency opportunities.
Managed asset quality for $1.75B portfolio. Created and developed team that oversaw the special assets function for over 60 branches in five states with over 40 direct reports.
Monitored both Covered and Non-Covered Portfolios by ensuring proper liquidation of OREO and Repossessions with minimal loss to the bank.
Reported to the Board monthly on all Asset Quality matrixes. Completed and reported on Loan Loss Reserve.
Managed all bankruptcy filings for the bank.
Workout officer on all large complex problem loans. Negotiated settlements and forbearance agreements.
Created, managed, and monitored Loss Mitigation Process for Consumer Mortgages.
Responsible for TDR analysis and approval of any related items.
Responsible for all Watchlist loan requests and workouts.
Designated Corporate Representative for all Credit related Litigation in all 5 states.

Bank Officer| Loan Officer & Branch Manager

FIRST COMMUNITY BANK

Bluewell, WV

01.2003 - 01.2005

Managed high volume consumer heavy branch.
High volume consumer credit branch. Closed 75 loans per month of which 90% were consumer purpose.
Review & analyze credit applications to determine credit worthiness. If loan was approved, prepared loan documents, closing packages, handled lien perfection, and funding.
Managed post loan closing for quality control. Improved audits and decreased post-closing exceptions and errors.
Produced consumer, small business, commercial, home equity, and residential mortgages.
Produced referrals for other areas of the bank.
Managed all foreclosures, repossessions and bankruptcies in a decentralized environment.
Trained collectors on process and procedures utilized to maximize results.
Managed teller line, vault, and ATM operations.
Manage business development of branch employees to ensure no missed business development opportunities.
Train new employees.
Analyze customer financial statements, management background and market/industry research to determine financial and business strengths and weaknesses.
Negotiate contracts and loan structure to best meet client's need within bank's policy guidelines.
Review legal documents, loan applications and contracts for accuracy.
Managed day to day collections and branch asset quality.
Rolled coin and prepared for currency shipments. Maintained parking lot to maintain curb appeal.

Timeline

Senior Vice President| Senior Special Assets & Credit Officer

BLUE RIDGE BANK

01.2023 - Current

Senior Vice President | Market President Southern WV

TRUIST (BB&T)

01.2017 - 01.2023

Vice President | Credit Administration & Special Assets Manager

FIRST COMMUNITY BANK

01.2011 - 01.2014

Bank Officer| Loan Officer & Branch Manager

FIRST COMMUNITY BANK

01.2003 - 01.2005