VP, Consumer & Counterparty Credit Risk

Cross River • Fort Lee, NJ

1d • $200,000 - $250,000 • Hybrid

About The Position

Cross River is seeking a VP, Consumer Credit Risk & Counterparty to provide second-line oversight of consumer credit risk for retained consumer portfolios, payments, and structured financing risk arising from lending against consumer assets to partners or settlement risk with payment processes. Reporting to the Chief Credit Risk Officer, this leader will identify, assess, measure, and manage retained credit risk for consumer assets on Cross River Bank’s balance sheet. The role will also conduct independent credit risk assessments of consumer assets originated through partners, provide effective challenge to first-line teams and partner risk teams, and ensure significant risks are promptly identified and collateralized.

Requirements

• 15+ years of leadership experience in consumer life-cycle risk management, covering underwriting, portfolio management, collections, and recoveries.
• Experience in profitability-based risk-reward assessments (NPV) and use of model-based assessment frameworks.
• Significant experience with unsecured closed-end and revolving products.
• Experience managing prime-to-subprime portfolios end to end.
• Experience with payments, Nacha rules, and network chargeback rules.
• Familiarity with stress testing.
• Strong business acumen with a risk-reward control perspective.
• Familiarity with applicable consumer regulatory requirements.
• Demonstrated ability to successfully manage multiple priorities under pressure.
• Degree in a quantitative or related field.

Nice To Haves

• Secured consumer product experience.

Responsibilities

• Monitor and continually enhance the credit risk appetite framework as it applies to consumer assets.
• Identify and develop credit risk metrics reporting, including KRIs and KPIs, to continuously monitor and oversee risks associated with consumer assets.
• Provide effective challenge to first-line and partner risk teams through independent reviews of critical credit risk processes, including underwriting, portfolio management, collections, and recoveries.
• Independently review structured credit facilities offered to partners originating consumer assets.
• Monitor retained consumer loan portfolios on an ongoing basis.
• Approve limits and reserve settings.
• Escalate issues and emerging risks to the Chief Credit Risk Officer and senior management in accordance with the risk appetite program.

What This Job Offers

• Job Type: Full-time
• Career Level: Executive