Director, Credit Risk

Sallie Mae; Newark (DE); Hybrid; USD 180,000 - 260,000; Full time

Benefits offered by this job

Competitive base salaries

Bonus incentives

Generous PTO and holidays

401k with employer match

Medical, dental, vision insurance

Flexible hybrid working arrangements

Parental leave

On-site fitness centers (Delaware)

Tuition Reimbursement

Career development

Job summary

Sallie Mae is seeking a Director, Credit Risk in Delaware to provide independent oversight across the credit life cycle. You will partner with 2LOD and First Line teams to ensure safe, data-driven credit practices, governance oversight, and regulatory alignment.

You will lead analyses, report to senior management, and mentor future risk leaders while advancing analytics adoption and risk reporting maturity.

Qualifications

• Bachelor’s degree in Finance, Economics, Business or related field; advanced degree or certifications preferred.
• Minimum 7+ years of experience in credit management in financial services.
• Strong understanding of lines of defense responsibilities and risk governance.
• Knowledge of consumer/commercial lending products (student loans, mortgages, cards).
• Ability to challenge constructively and influence stakeholders.
• Knowledge of U.S. banking regulations and supervisory expectations.
• Analytical, verbal and written communication skills; able to present to executives.
• Proficiency in analytics using Python, SAS, SQL and MS Office.

Responsibilities

• Provide independent challenge to First Line credit strategies and document conclusions.
• Conduct independent credit risk assessments across origination, servicing, loss mitigation and recovery.
• Assess adherence to policies, risk appetite and underwriting standards.
• Lead oversight of Risk Appetite for credit risk with KRIs and portfolio trends.
• Deliver independent oversight of business line strategies and control frameworks.
• Oversee credit strategy, decisioning frameworks and governance across lifecycle.
• Collaborate with finance, originations and collections to align risk objectives.
• Support ACL methodologies and regulatory examinations and audits.

Skills

Credit risk analysis

Independent challenge

Regulatory knowledge

Python

SAS

SQL

Stakeholder management

Communication

Leadership

Education

Bachelor’s degree in Finance, Economics, Business

CRC/FRM/CFA preferred

Tools

Python

SAS

SQL

Microsoft Excel

Job description

When you join Sallie Mae, you become a champion for all students.

We’re on a mission to power confidence as students begin their unique journey. To help them plan their higher education, successfully finish, and prepare for life after school. To help them Start smart. Learn big.

Students need guidance navigating this important time in their life. They need someone who acknowledges that their education path is unique. They need a partner willing to evolve and not only meet but surpass their expectations. We’re changing. Because students need a better way.

We’re looking for people who are excited to drive this transformation. To break barriers and think of new ways to adapt, help, and create better experiences for students—and for each other.

This is where diverse backgrounds, beliefs, and perspectives matter. It’s where you’re empowered to bring your authentic self to work.

Feeling your best allows you to do your best. Our benefits take care of the whole you—from physical and mental to financial and professional. You’ll get opportunities to further your education and career, support for you and your family (including your pets!), paid time off to volunteer for the things that matter to you, and more.

We’re obsessed with impact and making a real difference. For us, that means putting relationships first, asking "why not?" when tackling challenges, and continuously learning new skills.

Come do more than join something, change something. For students, for future generations, for the future of education.

What You’ll Contribute

The Director, Credit Risk serves as a key leader within the Second Line of Defense (2LOD), providing independent oversight, credible effective challenge, and governance support across the credit life cycle. This role is responsible for assessing credit risk practices, portfolio trends, risk appetite alignment, and control effectiveness to ensure the organization’s credit strategies across the credit lifecycle remain safe, sound, data-driven, and compliant with evolving regulatory expectations. The Director will partner closely with First Line business teams while maintaining independence, contribute to executive and committee-level risk reporting, and support regulatory examinations and audit activities.

What You’ll Do

• Provide effective challenge to First Line credit strategies, assumptions, control frameworks, and portfolio actions; document conclusions and escalat concerns as appropriate.
• Conduct independent credit risk assessments and thematic reviews across origination, servicing, loss mitigation, and recovery activities, identifying emerging credit risks and exposure across the credit life cycle.
• Assess adherence to credit policies, risk appetite statements, underwriting standards, and concentration limits, recommending enhancements where misalignment is observed.
• Lead oversight of the Risk Appetite for credit risk by monitoring and reporting on key risk indicators (KRIs), portfolio trends, and emerging risks, ensuring accuracy, consistency, and executive-readiness.
• Deliver independent oversight and effective challenge to business line strategies, risk assessments, and control frameworks.
• Provide second-line oversight of credit strategy and decisioning frameworks across the lifecycle, including policies, analytics, and supporting models/tools, with an emphasis on governance, performance outcomes, and risk alignment.
• Collaborate with various internal stakeholders, such as finance, originations, and collections teams, to ensure alignment of credit risk objectives and practices.
• Support governance and validation of Allowance for Credit Losses (ACL) methodologies and assumptions.
• Collaborate with Compliance, Internal Audit, and Operational Risk to ensure comprehensive risk coverage.
• Prepare and present risk reports to senior management, risk committees, and regulatory bodies.
• Drive adoption of advanced analytics and reporting tools to enhance risk identification, monitoring, and reporting.
• Mentor and develop future risk leaders within the organization.

The above information is intended to describe the general nature and level of work performed by employees assigned to this job; it is not designed to contain or be interpreted as a comprehensive inventory of all duties, responsibilities and qualifications required of employees in this role.

What You Have

Minimum: Indicate minimum education, skills and experience required.

• Bachelor’s degree in Finance, Economics, Business, or a related field; advanced degree or certifications (CRC, FRM, CFA) preferred.
• Minimum 7+ years of experience in first line or second line credit management within the financial services industry, with a strong focus on the credit life cycle.
• Demonstrated experience and strong understanding of lines of defense responsibilities and risk governance frameworks.
• In-depth knowledge of consumer and/or commercial lending products (e.g., student loans, mortgages, credit cards, small business).
• Proven ability to challenge constructively and influence cross-functional stakeholders.
• Strong understanding of U.S. banking regulations and supervisory expectations.
• Exceptional analytical, communication, problem-solving, and stakeholder management skills, with the ability to think strategically and make informed decisions.
• Proficiency in analytics, using Python, SAS, SQL, and Microsoft Office Suite.
• Proven ability to communicate complex analytics to executive audiences.
• Strong interpersonal skills and ability to influence across functions.
• High integrity, sound judgment, and ability to handle confidential information with discretion.

Preferred Skills

• Experience with credit models or risk governance frameworks, risk appetite statements, and issue management.
• Experience with segmentation strategy, vendor management, and regulatory exam support.

Value Proposition

Join a forward-thinking team where your expertise will directly influence the bank’s risk posture and portfolio quality. You’ll have the opportunity to lead strategic initiatives, mentor future leaders, and shape best practices in credit risk management. Your work will be highly visible to executive management and will play a critical role in the bank’s long‑term success.

The Americans With Disabilities Act

The Americans with Disabilities Act of 1990 (ADA) prohibits discrimination by employers, in compensation and employment opportunities, against qualified individuals with disabilities who, with or without reasonable accommodation, can perform the "essential functions" of a job. A function may be essential for any of several reasons, including: the job exists to perform that function, the employee holding the job was hired for his/her expertise in performing that function, or only a limited number of employees are available to perform that function.

Feeling Your Best Helps You Do Your Best

Our benefits take care of the whole you—so you can build your work around your life (not the other way around!).

• Competitive base salaries
• Bonus incentives
• Generous PTO, Floating Holidays and 12 Federal Holidays observed
• Support for financial-well-being and retirement 401k with employer match
• Comprehensive medical, dental, vision, hospital indemnity, critical illness, pet insurance and more
• Employer paid short-term/long-term disability and basic life insurance
• Flexible hybrid working arrangements.
• Paid parental leave and adoption reimbursement programs
• Free access to on-site staffed fitness centers (in Delaware) and gym subsidy (for locations outside Delaware)
• Confidential counseling support (EAP), Health Advocacy services and Wellness program with financial incentives
• Tuition Reimbursement and Family Scholarship Programs
• Career development and training opportunities

Sallie Mae is proud to be an equal opportunity (EEO) employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, gender, sexual orientation, national origin, age, genetic information, gender identity, disability, Veteran status or any other characteristic protected by federal, state or local law.

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Reasonable accommodations are available for applicants with disabilities in all phases of the application and employment process. To request an accommodation please call [phone] and choose option 9. All information you provide will be kept confidential and will be used only to the extent required to provide needed reasonable accommodations.