VP, Credit Risk at Cenlar in Yardley, Pennsylvania

Job Description:

The VP, Credit Risk leads the establishment and monitoring of the credit risk limits, credit policy, and monitoring framework within Cenlar's risk appetite. This position conducts credit risk reporting used throughout the enterprise to identify and assess credit risk for all growth initiatives. The VP, Credit Risk strategically interacts with and influences the First Line of Defense business units and risk personnel and has oversight of and approves the company-wide credit policy. The position monitors external and emerging risks and assesses impact on the company's new products and growth initiatives while partnering with regulatory and internal oversight leadership to ensure credit practices align with expectations. This role will implement and apply effect risk management practices to optimize risk reward for the portfolio and help facilitate and augment prudent growth. This position reports to the Chief Bank Risk Officer.


Will consider remote in approved States only



Responsibilities:

• Drives the process of extracting data from a variety of sources to build complex credit and financial models that predict risk exposure and presents findings to management


• Plans and directs business analysis, risk modeling, and loss prevention programs


• Reviews and monitors credit risk reporting deviation from set limits and for reporting counterparty ratings, exposures and concentrations


• Leads the credit risk process with accountability for setting limits, provisioning, scenario testing and stress testing


• Establishes and benchmarks current risk practices against those stipulated within business units


• Stays abreast of changes in global scenarios as well as an assessment of credit risk in the long term


• Interacts with external credit regulation and assessment agencies on behalf of Cenlar


• Interacts with regulatory agencies to understand if risk compliance measures are being implemented and ensures that standards are set and rolled out


• Establishes the overall direction and strategic initiatives for risk prevention


• Partners with management to develop and monitor individual and departmental goals and provides effective feedback and guidance; holds managers accountable for meeting these goals


• Leads effective performance management and professional talent development across all respective departments


• Ensures all activities are in accordance with company and regulatory risk and compliance requirements


• Partners with the Chief Bank Risk Officer to manage yearly department budget, staffing levels and models; set department goals and develop strategies to meet or exceed these goals. Help drive operating leverage across risk functions.


• Appropriately assess all credit risks when business decisions are made, include but not limited to compliance and operational risk. Demonstrate consideration for Cenlar's reputation as well as our clients, by driving compliance with applicable laws, rules and regulations, adhering to Policy, applying sound ethical judgment regarding personal behavior, conduct and business practices, and escalating, managing and reporting control issues, as well as effectively supervise the activity of others and create accountability with those who fail to maintain these standards


• Maintain effective communication regarding matters of risk management with external constituents, including Cenlar's regulators.
  

• Drives optimal risk reward for the portfolio (e.g. new products etc.) helping in prudent balance sheet and revenue growth keeping all key risks in mind (e.g. credit box development, related model risk assessment etc.)


• Participates in all key forums driving these initiatives and providing guidance to manage all key risks


• Assists with the development of required policy guardrails (e.g., Credit policy etc.), as needed


• Monitors portfolio performance (e.g. Early payment defaults, delinquency, Loss rates etc.) inclusive of ongoing capital stress testing


• Partners with the Chief Bank Risk Officer in driving effective portfolio management and related portfolio analytics

• Participates in building a best-in-class model risk management program for the bank in line with industry best practices and OCC guidelines (program/policy, performance assessment etc.)


• Ensures all credit risk models are validated and regularly tracked for effectiveness, reliability and are robust

• Partners with the Banking organization and other risk management verticals to oversee risk aggregation, reporting, roles and responsibilities etc. in risk governance forums


• Partners with the Chief Risk Officer and other key leadership to develop the strategic vision and roadmap for ongoing enhancements of Cenlar's ERM and growth framework


• Partners across lines of defense and across the bank to develop meaningful reporting to provide quantitative and qualitative results reflecting the state of performance and/or emerging risk(s), as appropriate.


• Escalate all key issues to the Chief Risk Officer.

• Bachelor's degree required in finance, economics, law, mathematics, statistics, physics, or related field; Master's degree preferred


• 12+ years of experience in mortgage operations including previous experience managing credit risk in the mortgage industry


• Ability to establish a new unit and help the creation/launch of new products/services


• Strong leadership skills to inspire outstanding performance through collaboration


• Outstanding technical and analytical skills


• Strong verbal and written communication skills


• Ability to present with impact and build consensus across senior stakeholder groups


• Ability to work in a fast-paced environment with a focus on delivery


• Strong knowledge of risk management concepts, frameworks, methods, and effective operating practices.


• Ability to apply the standard ERM framework to Cenlar's business risks and understanding of and experience with operations


• Experience with industry regulators (i.e. OCC) and managing to expectations building a relationship, presenting, and reporting.


• Strong understanding of regulatory processes, activities and requirements of a mortgage servicing or financial services company


• Ability to present to the Cenlar Board of Directors, Board Risk Committee, Executive Committee and regulators


• Ability to influence and drive cultural change


• Lead, develop, and motivate a diverse and inclusive team.


• Utilize strong problem-solving skills to develop mutually acceptable solutions


• Dedicated to integrity, producing high quality results, and meeting deadlines


• Build effective partnerships with trust and credibility through strong interpersonal skills, communications, actions and presence


• Unassailable ethics, personal values, and integrity


• Results and learning oriented; continuously striving to improve and evolve self, team, and others


• Ability to plan strategically as it relates to business unit responsibilities


• Proven ability to lead and motivate teams supporting complex businesses in a matrixed environment