Chief Credit Officer, VP - Hybrid
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About The Position
The Chief Credit Officer (CCO) at CarMax Auto Finance (CAF) is a pivotal role that oversees the Risk, Data Science, and Servicing Analytics teams. This position is responsible for guiding the analytical functions that dictate how CarMax operates with third-party lenders and manages vehicle protection products, including extended service plans, GAP coverage, and auto insurance. As a member of the executive leadership team, the CCO collaborates with other senior executives to set the strategic direction for the Auto Finance division and to integrate finance into various business areas such as Product, Operations, and Margins. The CCO will work closely with the CAF COO, CFO, and other key stakeholders to ensure alignment and effective execution of strategies. In this role, the CCO will formulate and implement origination strategies aimed at providing credit to CarMax customers while continuously improving and expanding the CAF credit offerings. This includes developing underwriting strategies, pricing strategies, and statistical modeling to adapt credit strategies based on market dynamics. The CCO will also provide senior-level direction for portfolio management and collections strategies to meet profitability goals for CAF's $18 billion portfolio. Additionally, the CCO will partner with Financial Services & Products teams to optimize the CarMax Lending platform and enhance the voluntary protection product suite. This role involves significant interaction with the CarMax Treasury team to support funding and securitization processes, including collaboration with rating agencies and investment banks. The CCO will also lead efforts in strategic planning for CAF, focusing on project prioritization, cost-benefit analysis, and risk assessment. The CCO is expected to maintain industry partnerships to stay informed about trends and capabilities, leveraging this knowledge to develop effective strategies for CAF. Furthermore, the role includes developing a talent management framework to support the operational and strategic needs of the Risk and Analytics organization. The CCO must possess advanced mathematical skills and strategic thinking abilities to achieve business objectives and effectively communicate complex concepts to diverse audiences.
