The VP, Consumer Risk requires the aptitude to analyze multiple variables, scenarios, and programs, and the ability to provide a strategic and tactical path to the Consumer Risk department and Executive Management. The position also requires the capability to hire, coach, develop, and manage team members.
Duties and Responsibilities:
- Lead teams in one or more functions related to the design, development and implementation of risk models and strategies for credit decisioning, lifetime loss management, lease return rate, and collections.
- Oversee the development and implementation of credit monitoring, credit quality assessment and portfolio quality tracking systems.
- Collaborate and coordinate clear direction for the company’s long-term growth plan using business intelligence and market feedback. Coordinate with Sales, Strategy & Marketing, and Finance to implement plan for effective product sales.
- Support CRO by overseeing the production of content for monthly Risk Control Committee meetings including new or revised credit policy, new product risk assessment, and other items related to credit risk governance.
- Identify and recommend appropriate risk systems; interface as appropriate with IT and external vendors.
- Collaborate with finance in delinquency, credit loss, and residual value forecasting and trend analysis. Work closely with other departments in preparation of long term vision, and conduct regular business reviews.
- Oversee “best practices” efforts in operational risk management, including business continuity, information risk management, vendor risk management, and risk assessment self-assessment.
- Oversee enterprise risk management initiatives, including the establishment of: risk framework and risk appetite model; risk categories; strategic and financial plan tests; top risks and actions; and emerging and reputational risk
- As the Head of Consumer Risk, the position is accountable for all departmental responsibilities (such as budgeting, staffing, and employee engagement) and all other duties as assigned.
Knowledge and Skills:
- Superior communication, facilitation and consensus-building skills with the ability to explain complex data analysis to executive audiences.
- Expert skills in the area of quantitative analysis, statistical model development, and forecasting.
- Understanding of pricing, product development, and credit risk as it pertains to auto financing.
- Experienced in business strategy analytics, data analysis, credit scoring and profit and loss management
- Excellent understanding of lending economics, industry trends, and key drivers of profitability.
- Managerial and leadership skills.
- Strong PC skills; SAS, SQL, Microsoft Access, Excel, Word, Power Point, Brio, and Relational Database concept; Knowledge Studio is a plus.
- Familiarity with financial services oversight bodies, guidelines, and regulations.
- Strong understanding of banking risk management practices, Basel II and III, financial statements, and accounting principles.
- Ability to lead multiple projects with attention to details and timeline