JOB SEARCH

Date: January 18, 2007

Re: Manager, Credit Risk, Card Acquisitions

Location: Toronto, Ontario

Industry: Financial Institution

JOB OVERVIEW :
The mandate of this position is to develop and manage the implementation of risk management acquisition strategies to optimize portfolio profitability of card products.
 
Responsibilities:

• Track performance by new account and behavior score by segment and provide statistical comparisons of front and back-end risk management strategies by risk and revenue measures.
  
  
• Ensure transaction authorization strategies optimize product profitability by minimizing fraud losses, credit losses and maximizing advances to credit worthy customers.
  
  
• Ensure loan loss reserves are adequate for each portfolio to cover expected losses as assessed by the 2+ and charge off forecasts and provisioning models. 
  
• Liaise with portfolio and sales managers to identify trends and opportunities for enhanced profitability through growth, expense, and portfolio quality optimization.
  
  
• Perform credit risk analyses on PC and on mainframe using SAS or relational database analysis software. Articulate findings both orally and in writing. Ascertain statistically significant patterns in data and trends and isolate measurements that have no statistical validity.
  
  
• Lead and develop an effective team of risk analysts through communication, performance management, development plans and reward/recognition practices.  Cultivate an environment that supports diversity.
  
  
• Keep abreast of industry trends and changes in the regulatory environment with respect to the usage of credit bureau and other applicant data.  Forge relationships with industry peers to actively voice concerns or suggestions.

• Participate in key corporate wide initiatives including: Support and deliver on build-out of Basel and Risk MI project requirements and implementation of reporting; Assist in the creation and implementation of an Economic Capital methodology; Assist RCM in the evaluation, review and implementation of Phase II of the Retail Policy manual; Support the development and implementation of a stress testing framework with execution an initial 1st phase in 2005; Assist in the enhancement or redevelopment of the loan loss reserve framework.  Support efforts of the risk review teams to increase transparency into portfolio trends and understanding of risk management decisions and key policies, through monthly credit reviews with an agreed upon credit package, with meeting follow-ups provided in a timely manner.  Provide support as needed for drill down on data, key credit criteria and performance assumptions and changes.  Proactively communicate to RCM planned new product introductions, key strategy and policy changes, acquisitions under consideration, and emerging risk issues, and if required provide to RCM quantitative support.
   
• Develop and monitor performance of Adjudication models to assess customer risk and minimize credit losses while maximizing growth.
  
  
• Review scorecard population stability indices to monitor the quality of risk assessment models on the through-the-door population.  Re-weight and rebuild as necessary.
  
  
• Works with the Business Unit and Operations to establish accurate asset valuation processes for secured and partially secured loan products.
  
  
• Define and develop limit assignment strategies with the BU to optimize line usage while minimizing losses while promoting product use for good customers. Work with Operations to develop modes and strategies to minimize collection losses and overall collection expenses.
  
  
• Develop appropriate models and standards to assess full customer risk including ability and willingness to pay.
  
  
• Develop and attain signoff of business requirements to ensure timely and accurate implementation of strategies and models into risk applications.
  
  
• Perform regular validation of all risk technology applications to ensure adherence to policy and agreed upon risk strategies.
  
  
• Produce highly predictive behavioral models to assess the risk of existing customers to facilitate account management strategies.  Ensure model performance is tracked and models are validated on a regular basis.
  
  
• Create and track performance of account management strategies to manage limits and collections processes to ensure portfolio profitability is optimized.

Required Competencies:

• A BA in a quantitative field such as operations research, mathematics, or economics, a Master's degree in a quantitative discipline preferred.
• 5 years of credit risk management experience. 
• Demonstrated written and oral communication skills as well as experience with statistical analysis software such as SAS.
• Experience with the development or implementation of credit risk scoring systems is preferred.
• Extensive experience working with front-end & account management systems such as Strategyware, Decision System, SMG3, Triad or Probe

Salary Range:$80,000 to $90,000 plus attractive bonus potential