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In her 27 years at FNBO, Mihaela Kobjerowski has worked her way up the ranks in roles with progressively more responsibility. In 1998, she began her FNBO career as a credit risk analyst in credit card portfolio management. She quickly ascended to a role leading credit card portfolio management, and subsequently was tapped to create a decision science initiative tasked with developing customized risk and marketing analytics.
In her current job as executive vice president and chief credit officer, which she's held since November 2023, Kobjerowski manages credit risk for the bank's $23 billion loan portfolio, comprising $12.5 billion in consumer loans and $10.5 billion in commercial loans. The loan portfolio includes consumer credit cards, large-scale financing of apartment buildings, and agricultural loans.
In less than two years, Kobjerowski has made a mark as chief credit officer. Last year, the 230-member credit team she leads was 5% under the division's $33 million operating budget and less than 1% below the nearly $600 million charge-off budget. In the first quarter of 2025, the division was 4% under its $150 million charge-off budget and within 1% of the roughly $8 million operating budget.
At FNBO, bosses have repeatedly recognized Kobjerowski's talent and achievements.
She brings to the table a wealth of knowledge. said FNBO chairman and president Clark Lauritzen. He calls Kobjerowski a "learning machine."
"As I advanced in my career and began leading teams with specialized experts I didn't yet understand, I made it a point to educate myself — not just out of curiosity, but also as a way to show respect and support to my team," Kobjerowski said. "Learning helps me understand where risks might emerge."
She schools herself by listening to podcasts, following certain academic institutions and thought leaders on social media, and collaborating with innovative companies. Her daily reading list includes The Wall Street Journal, The New Yorker, and Harvard Business Review.
"On a personal level, my favorite thing is to go into local bookstores wherever I travel and pick a book from their main display table — I never cease to find amazing authors and books I would have never experienced otherwise," she said.
Back at the office, Kobjerowski has been focusing on hiring senior leaders who eventually might replace her.
"This means not only identifying top-tier talent but also integrating them into the FNBO culture," she said. "I stepped into my current executive role about two years ago, so hiring at this level was new to me. I learned from others in the organization and invited them into the process. I know I still have things to learn in this area. But I see that as a strength. The willingness to keep improving is what makes great leadership possible."
As a leader at FNBO, Kobjerowski has guided development of three sets of underwriting strategies tailored to different economic scenarios. She and her team constantly monitor economic indicators and internal performance metrics to determine when it's appropriate to trigger one of those strategies.
"Staying connected to peers in the industry and listening to their perspective has also been invaluable," she added. "In times of uncertainty, collaboration and information-sharing across the financial ecosystem help us make more informed, balanced decisions."
