Director, Portfolio Risk Management - Sallie Mae - Newark, DE

As a growing company, we are expanding our consumer lending products and will be launching a new credit card product. The Director, Portfolio Risk Management for Sallie Mae Bank, will be responsible for directing and monitoring asset quality and the performance of the bank’s credit card program, but duties will also include support for all of the bank’s lending products including private student loan, FFELP, personal loan, and CRA investments. The Director is responsible for the bank’s credit risk oversight programs across the credit life cycle with a focus on back-office credit card operations including originations and underwriting, servicing, collections, fraud prevention, bankruptcy, and post-default recoveries. Additionally, the Director is responsible for oversight of similar credit risk management operations for affiliates and/or vendors that provide loan origination and credit life-cycle servicing activities for the bank. The Director will have significant professional experience in portfolio risk management and an in-depth understanding of banking regulations and will use their strong background in information systems, data management and analytics to identify areas of opportunity and then develop and lead initiatives to manage relevant risks. Key Responsibilities: 70% - Manage second line of defense efforts for credit card portfolio credit risk management life-cycle activities including: Underwriting and pricing strategies Credit card line increase/decrease strategies and POS authorizations Collection strategies and performance including the use of loan modification and payment programs for troubled assets Fraud prevention efforts including detection, investigations, and the use of neural networks and rules-based engines for credit card programs Disputes Bankruptcy, death, and disability processing Post-default recovery efforts Affiliate and vendor credit risk management operations Loan loss reserve adequacy Develop appropriate analytics and reporting for management committees, bank regulators, and the Board of Directors. Work closely with cross-functional areas including Credit, Finance, Compliance, Legal, and Marketing to ensure operational alignment with bank policy and regulatory requirements. Provide risk management leadership with other bank products including private student loans, FFELP, Personal Loans, and CRA investments as needed. 15% - Administration of Policies and Procedures Assist with writing and administering the bank’s credit risk management policies and procedures. Ensure alignment with all relevant Federal and State regulations and that policy and procedure updates are maintained with necessary approvals. Develop and manage policy exceptions, issue tracking, and escalation protocols. 15% - Audits and Exams Work closely with the bank’s Chief Credit Officer and the Enterprise Risk Management team in managing ongoing audits and regulatory exams. Ensure all audit findings and MRAs are remediated prior to committed deadlines.
Required Qualifications: Education: A bachelor’s degree in business, math, information systems, statistics, or a related discipline Master’s degree in business, math, information systems, statistics, or a related discipline preferred Experience: SAS, SQL, or other system query and statistical analysis expertise working with data warehouses and data repository systems Risk management experience with other consumer lending products such as student and personal loans At least seven years portfolio risk management experience with credit cards including underwriting, collections, and fraud prevention At least five years working in a regulated bank with direct regulatory exam experience Knowledge, Skills, and Abilities: Demonstrated expertise with data management and analytics Strong interpersonal communication skills and the ability to lead and inspire others
What You'll Get at Sallie Mae: Comprehensive Compensation and Healthcare Benefits (Medical, Dental, Vision plans) Financial Well-being: 401(k) company match, employee stock purchase plan, and basic life insurance and short-term disability are provided to employees at no cost Work/Life Balance: Paid time off, time off to volunteer, and tuition reimbursement. In addition, after 6 months of employment, primary caregivers receive 12 weeks of 100% fully paid time off and secondary caregivers are eligible for 4 weeks of 100% fully paid time off, for birth or adoption Wellness: Fitness centers/gym subsidies, free Fitbits with step challenges, and wellness education

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