VP of Consumer Credit

Finmkt • New York, NY

297d

About The Position

We are seeking a highly skilled and experienced Senior Consumer Credit Manager to join our dynamic team in the personal unsecured point-of-sale lending space. This role will be critical in developing credit policies, managing the credit risk associated with the unsecured loan portfolio, and driving the development of policies and strategies to optimize profitability while maintaining appropriate risk levels. The ideal candidate will have a deep understanding of credit risk assessment, credit risk model formulation, testing and maintenance, regulatory requirements, and the ability to analyze complex financial data to make informed decisions regarding consumer credit policies.

Requirements

• Bachelor's degree in Finance, Economics, Business Administration, or related field (MBA or relevant advanced degree is a plus).
• Minimum of 5 years of experience in credit risk management, with a focus on point-of-sale lending (ideally in the home improvement vertical), unsecured personal loans or similar financial products.
• In-depth knowledge of credit risk assessment, portfolio management, and relevant regulatory frameworks (e.g., Fair Lending, Dodd-Frank Act, etc.).
• Proven track record of leading risk management strategies, reducing loan losses, and driving profitable growth.
• Strong experience with credit scoring models, data analytics, and risk management tools.
• Strong analytical skills and the ability to interpret complex financial data.
• Advanced proficiency in data analysis tools (e.g., SAS, SQL, Python), and MS Office.
• Exceptional communication and presentation skills, with the ability to explain complex risk concepts to non-technical stakeholders.
• Leadership skills with experience in managing teams and driving cross-functional initiatives.
• Proficiency in MSFT Excel understanding risk and portfolio modeling.

Responsibilities

• Oversee the management and mitigation of credit risk across the unsecured personal loan portfolio.
• Develop and implement robust credit risk strategies, including risk appetite frameworks, credit scoring models, and risk mitigation policies.
• Regularly assess the credit quality of the loan portfolio and ensure alignment with business goals, regulatory standards, and industry best practices.
• Lead the monitoring, analysis, and reporting of credit performance and risk metrics to senior management.
• Monitor loan performance, delinquency, charge-offs, and other key risk indicators on an ongoing basis.
• Develop and maintain comprehensive reports and dashboards to present portfolio trends and performance to senior leadership.
• Conduct stress testing and scenario analysis to identify potential vulnerabilities in the unsecured loan portfolio.
• Provide input to credit portfolio performance models including appropriate default and prepayment curve assumptions and drivers.
• Lead the credit underwriting process for personal unsecured loans, ensuring that all credit decisions are in line with the company's risk appetite and business objectives.
• Identify third-party data providers that can provide data to inform our credit model for use in real-time decisioning.
• Collaborate with data science and analytics teams to create and refine credit scoring models and enhance decisioning processes.
• Make recommendations for credit limit adjustments, loan modifications, or interventions for high-risk accounts.
• Design and implement credit risk policies and procedures that support business growth while minimizing credit losses.
• Stay up-to-date with evolving regulatory requirements and industry trends, ensuring the business remains compliant with relevant laws and regulations.
• Work closely with legal, compliance, and operations teams to ensure the effective application of credit risk strategies and practices.
• Collaborate with key business units, including product management, collections, and customer service, to develop strategies that balance risk and growth.
• Present credit risk findings and recommendations to senior leadership and other relevant stakeholders.
• Engage with external partners, including credit bureaus and data providers, to improve risk assessment capabilities.
• Provide guidance and mentorship to junior members of the credit and risk team, fostering a culture of continuous improvement.
• Lead initiatives for team training and development to ensure the department is equipped with the latest tools and knowledge.

What This Job Offers

• Job Type: Full-time
• Career Level: Senior
• Industry: Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services
• Education Level: Bachelor's degree