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The Credit Cards Risk Manager is a key role within Consumer Risk Management reporting to the Head of Unsecured Risk and managing a team of Risk Analysts.
Works cross-functionally with key business partners to support all acquisition and product strategies that enable the best risk/reward decisions. Ensure that credit policies and strategy are in line with business objectives.
This role is responsible for managing over USD100MM in credit costs annually and defining credit risk strategy for the entire credit cards portfolio across Citi branded and white label credit card partnerships.
This is a highly visible role in the organisation with complex internal and external stakeholder relationships with white label partners, auditors, industry peers, and regional, global and country level senior management teams.
The role is accountable for pro-actively identifying opportunities to drive sustainable business growth while achieving key metrics like Return on Tangible Common Equity and Credit Costs.
This role also has ownership for stress testing of the entire unsecured products portfolio (credit cards and personal loans).
Develop and manage business performance of the portfolio through a Risk Appetite Framework along with thresholds and guardrails to meet key internal measures. Identify and monitor key risk drivers, portfolio concentration, mix and delinquencies, to undertake timely corrective actions as necessary.
Manage credit costs to plan through appropriate setting of risk policy and monitoring of through-the-door and portfolio trends, and making policy changes that take into account economic environment and business strategy.
Design, implement and monitor the effectiveness of credit policies across the whole lifecycle (originations, account management and collections) to ensure performance per risk appetite statement and plan.
Identify and recommend improvements based on insights gained.
Ensure execution of stress tests in response to various regulatory requirements (US & Australia).
Monitoring and update of stress testing models in a timely manner.
Represent the business with key external stakeholders such as white-label partners and Risk peers at the industry level.
Provide intelligence on key trends in the business and industry and underlying drivers. Leverage new generation of analytical techniques to identify these trends and drive actions oriented at driving commercial growth while optimising returns and losses.
Identify and implement opportunities to improve origination strategies (including scorecards), account management and collection effectiveness through credit and profitability models.
Maintain a robust risk and control environment by providing oversight on critical risk related functions including acceptance and collections and liaising with internal and external auditors.
Lead the due diligence process for evaluation of new white labelling opportunities.
Lead a team of highly skilled risk analysts including recruiting, developing and retaining bench strength.
The position requires significant experience in unsecured lending products with full understanding of the entire credit lifecycle. The incumbent should be commercially oriented and be able to distil business strategic direction or a problem statement into actionable plans and undertake analysis as necessary, leveraging resources within the broader team to drive credit changes to bring strategy into action.
Understanding of local laws and regulations is a must (for example, National Consumer Credit Code, Comprehensive Credit Reporting).
Hands on experience with analytical techniques, good understanding of predictive models used in credit risk, are the core areas of technical expertise.
Strong and demonstrated leadership skills with the ability to lead a team of highly qualified professionals
An ability to develop relationships with and influence a diverse and senior group of stakeholders including external partners
A thorough understanding of the competitive landscape, P&L drivers, commercial acumen and deep understanding of usage of internal and external data assets for effective analytically-driven decisions.
A strong understanding of the economy and ability to identify any headwinds (based on key indicators like unemployment rate etc.), market movements and regulatory forces to shape business and lending strategy will be crucial to the success of this role.
Familiar with consumer behaviour, role and usage of credit bureau and competitive forces influencing credit demand in the industry.
15+ years relevant experience in Financial Services with a track record of success
Broad knowledge of relevant regulatory environment in financial services
Knowledge of consumer credit
Build relationships across the organization to ensure business goals are met
Use effective and appropriate communication skills in dealing with all stakeholders
Liaise with credit operations, compliance, legal representatives, auditors when required
Team Management & Development
Ensure effectiveness of each team member and ensure business opportunities are maximised
Establish agreed performance standards and provide clear and specific support to team members to optimise performance
Provide guidance and support to team in relation to policies and procedures
Manage the communication flow to keep team members fully informed of their responsibilities and accountabilities
OTHER KEY RESPONSIBILITIES
Has responsibility for quality, timeliness and delivery of end results of a team
Contributes to standards around which others will operate
Ensure that activities and initiatives being managed are compliant to existing policies
Support review processes and assist reviewers and auditors
Lead the identification and drive resolution of issues
Direct the communication of status and issues to all stakeholders, including senior management, on a timely basis
May be responsible for detailed analysis of issues where the best course of action is not evident from the information available, but actions must be recommended/ taken
Other business jobs or responsibilities as defined by the manager
KEY COMPETENCIES / SKILLS
Analytical, problem solving and critical thinking skills
Ability to produce clear, accurate and concise reports
Excellent presentation and communication skills
Ability to facilitate and influence discussions at a senior stakeholder level
Execution oriented with strong attention to detail
Ability to work independently, multi-task, and take ownership of various parts of a project or initiative
Proven track record in delivery of multiple parallel initiatives
Proven track record of operational process oversight / assurance
Accomplishes results through the leadership of a professional team
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