Consumer Credit Risk Director

Who We Are

Cross River is a highly profitable, fast-growing financial technology company powering the future of financial services. Our comprehensive suite of innovative and scalable embedded payments, cards, and lending products deliver financial services for millions of businesses and consumers around the globe. Cross River is backed by leading investors and serves the world’s most essential fintech and technology companies. Together with its partners, Cross River is reshaping global finance and financial inclusion.

We are on a mission to build the infrastructure that propels access, inclusion, and the democratization of financial services. While our company has tripled in size over the last three years, our strong sense of purpose led Cross River to be named to American Banker’s list of Best Places to Work in Fintech for the last 6 years. The reason for this success is simple – our nimble and collaborative family culture lives in every member of our growing team. Together we are at the forefront of technology and innovation, and we invite passionate, collaborative, and motivated high performers to join our expanding team.

What We're Looking For

The Credit Risk Director is responsible for effectively analyzing, monitoring and reporting risks of the consumer and wholesale lending portfolios within Cross River. He/she will be involved in enhancing the current processes for Capital Markets and Banking as a Service offering including calculation of related loss exposure and ensuring the accuracy of the committee reporting materials. This candidate will also contribute to the day-to-day portfolio management and coordinate the periodic/annual reviews.

Responsibilities:

• Conducts analyses, monitors metrics, and provides information to Senior Management and the Board of Directors to properly manage the consumer and wholesale portfolios of the Bank.
• Review program and transactional activities for the Capital Markets and Banking as a Service groups which includes structured finance activities related to the Bank’s principal finance efforts as well as credit, debit and prepaid card offerings.
• Develops/implement statistical models/scorecards to analyze credit risks for the bank’s targeted customers.
• Measures and monitors the Bank’s credit risk exposures, provides rating change recommendations for existing exposures and also for new exposure originations.
• Enhance the current Management Credit Committee (MCC) processes and ensure the accuracy of the MCC committee material.
• Tests the portfolio under various economic scenarios (stress testing), to determine the potential impact on the Bank’s Allowance for Credit Loss.
• Enhance the governance structure and end state operating model for the future MCC and other committees.
• Documents model methodologies/systems/tools to ensure compliance with internal model governance.
• Recommends credit policy and underwriting standard modifications where warranted.

Qualifications:

• Bachelor's Degree. Master’s Degree or higher preferred.
• 5+ years directly related experience required.
• Strong Accounting or mathematical and statistical skills.
• Strong analytical, technical and writing skills.
• Ability to develop and execute complex models and analyses in support of business goals and objectives.
• Commercial banking knowledge and experience is required.
• Excellent written and oral presentation skills are required.
• Broad general financial analysis and planning experience is desired.
• Ability to assimilate complex business information in order to structure relationships in processes and data.
• Ability to communicate highly technical information to inform others in practical business-based terms.

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Salary Range: $170,000.00 - $195,000.00