VP, Consumer Credit Risk & Counterparty Oversight

Cross River; Fort Lee (NJ); On-site; USD 200,000 - 250,000; Full time

Job summary

Cross River is seeking a VP, Consumer Credit Risk & Counterparty to lead second-line oversight of consumer credit risk for retained portfolios, payments, and structured financing risk arising from lending against consumer assets to partners or settlement risk with payment processes.

The Head of Consumer Credit Risk will identify, assess, measure, and manage retained credit risk for consumer assets on Cross River's balance sheet.

Qualifications

• 15+ years leadership experience in consumer life-cycle risk management.
• Experience in profitability-based risk-reward assessments (NPV).
• Significant experience in unsecured closed-end, and revolving products.
• Experience in end-to-end prime-sub-prime portfolio management.
• 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 quantitative or related field.

Responsibilities

• Monitoring and continued enhancement of the credit risk appetite framework as applied to consumer assets.
• Identify and develop credit risk metrics reporting (e.g., KRIs and KPIs) to continuously monitor and oversee risk of consumer assets
• Provide effective challenge to first line and partner risk teams through independent reviews of critical credit risk processes which includes underwriting, and portfolio management, collections, and recoveries.
• Independently review structured credit facilities offered to partners originating consumer assets.
• Ongoing monitoring of consumer loan retained portfolios
• Approval of limits and reserve settings
• Escalate issues and emerging risks in accordance with risk appetite program to Chief Credit Risk Officer and senior management

Skills

Leadership experience

Credit risk management

Portfolio management

NPV / financial modeling

Regulatory knowledge

Payments knowledge

Stress testing

Decision making under pressure

Education

Bachelor's in quantitative field

Job description

Cross River is seeking a VP, Consumer Credit Risk & Counterparty to lead second-line oversight of consumer credit risk for retained portfolios, payments, and structured financing risk arising from lending against consumer assets to partners or settlement risk with payment processes.

The Head of Consumer Credit Risk will identify, assess, measure, and manage retained credit risk for consumer assets on Cross River's balance sheet.