VP Credit Risk Oversight

Merrick Bank • South Jordan, UT

1d • Hybrid

About The Position

Join our team - and take the next step in achieving a fulfilling career! What We Do At CardWorks, we aim to help people connect with possibility and opportunity using our financial servicing expertise. Building meaningful, long-term relationships with consumers, our employees, and our clients is what matters most. Who We Are CardWorks, Inc. is a diversified consumer finance service provider and parent company of CardWorks Servicing, LLC, Merrick Bank and Carson Smithfield, LLC. CardWorks Servicing, LLC provides end-to end operational servicing functions for credit cards, secured cards, and installment loans. We service consumer and small business loans across the credit spectrum and offers backup servicing and due diligence services to capital providers and trustees. Merrick Bank is an FDIC-insured Utah Industrial Loan Bank. Merrick operates three main business lines: credit cards, recreational lending, and merchant services. Carson Smithfield, LLC provides a variety of post-charge-off debt recovery services, including digital self-service, IVR, live agent, and external agency management. Position Summary: The Vice President, Credit Risk Oversight is a senior member of Merrick Bank’s second line of defense, responsible for providing independent, data-informed oversight of credit risk strategies across the Bank’s non-prime consumer portfolios. This position offers hybrid and remote work arrangements for qualified candidates. Reporting to the SVP & Chief Credit Officer, this position acts as a strategic challenger and translator, connecting first-line analytics and business execution to the Bank’s risk appetite, governance expectations, and performance outcomes. This is a judgment-heavy, forward-looking oversight role, not an assurance or control testing function. It focuses on the reasonableness, directionality, and traceability of first-line strategies and forecasts.

Requirements

• Bachelor’s degree in Business, Economics, Statistics, Engineering, or related quantitative discipline is required, Master’s degree (MBA, Economics, Statistics, or related field) is preferred.
• Ten (10) years’ experience in consumer credit risk management or strategy, with deep expertise in non-prime and subprime lending.
• Proven experience in evaluating or developing credit strategies, including acquisition, line management, and collections.
• Strong understanding of credit card economics, portfolio forecasting, and credit mitigation dynamics.
• Knowledge of risk appetite frameworks, second-line oversight, and regulatory expectations (FDIC, CFPB, OCC).
• Ability to synthesize analytics and operational trends into clear strategic implications.
• Excellent communication and relationship-building skills, with the ability to challenge constructively and influence senior management decisions.
• Deep understanding of credit and fraud drivers across the customer lifecycle.
• Demonstrated ability to form independent perspectives using quantitative analysis and sound business judgment.
• Skilled at connecting model, portfolio, and macro performance into a coherent risk story.
• Confident communicator capable of representing second-line views to senior management and regulators.
• Collaborative and pragmatic, focused on enabling sound growth within disciplined risk boundaries.

Responsibilities

• Independent Strategy Oversight Provides independent assessment of credit and portfolio strategies for consistency with the Bank’s risk appetite, policy frameworks, and regulatory expectations.
• Evaluates credit and fraud proposals (acquisition, CLI, collections changes etc.) for risk/reward balance, directional impact, and customer fairness.
• Reviews the use of credit rules, and segmentation approaches, to ensure conceptual soundness, data integrity, and adherence to approved frameworks.
• Represents second-line perspectives in governance forums, bringing a clear, data-anchored risk lens to decision discussions.
• Partners early in the decision cycle to influence design choices while maintaining independent judgment and documented challenge.
• Credit Monitoring & Analytics Monitors portfolio performance trends, delinquency, losses, and credit dynamics to independently assess the sustainability of first-line strategies.
• Evaluates forecast reasonableness, assessing sensitivity to macroeconomic assumptions, and alignment to risk appetite and capital plans.
• Contributes to Risk Appetite Framework development and maintenance, ensuring directional KRIs/KPIs (e.g., NCL rate, delinquency, concentration limit, forecast variance) remain credible and connected to portfolio actions.
• Supports Credit and Enterprise Risk in translating strategy and forecasting outcomes into Board-level and regulatory risk narratives.
• Governance, Documentation & Traceability Maintains a formal challenge log documenting material decisions, oversight input, and management responses.
• Prepares Credit Risk Committee materials summarizing independent views on portfolio health and emerging risks.
• Supports regulatory and audit reviews by demonstrating traceable linkage between strategy oversight, governance records, and risk-appetite outcomes.
• Culture, Collaboration & Influence Fosters a constructive challenge culture that emphasizes sound decisions over process formality.
• Builds strong relationships with Lending First Line, Finance, and ERM partners to ensure oversight is both credible and collaborative.
• Benchmarks Merrick’s practices against industry norms and evolving regulatory expectations for non-prime and subprime risk management.
• Compliance with Laws & Regulations: Responsible for developing, documenting, communicating, maintaining, and enforcing effective control system policies and procedures within your area of oversight.
• Responsible to act in a timely manner to update policies and procedures when changes in operating conditions occur and / or breakdowns or noncompliance with laws and regulations appear.
• Responsible for complying with all of the Bank’s internal control policies and procedures.
• Responsible for understanding and complying with all laws and regulations to which the Bank is subject.
• Responsible for communicating problems in operations, noncompliance with the code of conduct, noncompliance with laws and regulations, policy violations, or illegal acts.

Benefits

• Competitive Pay, including a Bonus Target or Variable Pay Incentive Program
• Benefits Package -Medical, Dental, and Vision (plus much more)
• 401(k) Plan with Company Match
• Short- & Long-Term Disability
• Wellness Programs
• Group Life and AD&D Insurance
• Paid Vacation, Sick Days and bank Holidays
• Employee Engagement Activities including Employee Appreciation Day, DEI Employee Resource Groups, Corporate Social Responsibility, Service Recognition

What This Job Offers

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