Job Description

Job Description

Job Description

Salary:

The Chief Credit Risk Officer (CCRO) at Continental Finance Company will be responsible for designing, executing, and coordinating the overall credit risk management strategy, with a specialized focus on the subprime market credit card portfolio.

The Chief Credit Risk Officer will be responsible for shaping and executing a comprehensive credit risk management strategy, including oversight of credit policy development and implementation, as well as monitoring portfolio performance to detect credit migrations and emerging trends.

The Chief Credit Risk Officer will collaborate closely with executive leadership, the risk management team, bank partners, and other business units to effectively manage the balance between risk and growth in this unique and complex subprime credit card market.

Essential Functions:

• Oversee credit decisioning, ensuring that lending standards align with the organizations risk tolerance protocols and issuing bank credit policies, while supporting responsible growth in the subprime market.

• Continuously monitor and assess the performance of the subprime credit card portfolio identifying trends, potential risks, and opportunities for portfolio optimization.
• Direct the evaluation of credit risk for subprime credit card customers, utilizing credit scoring models, behavioral data, and macroeconomic factors, all in alignment with partner bank policies.
• Lead the development of advanced credit risk models and segmentation strategies that appropriately assess the unique risks in the subprime credit card space.
• Develop and execute portfolio risk mitigation strategies, including balance management, credit line adjustments, and collection practices, to minimize losses and maximize profitability.
• Oversee the development of real-time credit risk reporting tools and dashboards, enabling proactive risk monitoring and decision-making.
• Develop and implement loss prevention strategies specific to the subprime cardholder base, including credit limits, fee structures, and collection practices.
• Collaborate with collections and servicing teams to enhance loss recovery and minimize charge-offs, defaults, and delinquencies within the subprime portfolio.
• Lead stress testing and scenario analyses to understand potential risks under various economic conditions and customer behavior models.
• Lead and mentor a team of credit risk professionals fostering a culture of excellence, collaboration, and continuous improvement.
• Work closely with marketing, data science, operations, compliance and legal teams to ensure alignment on subprime credit risk strategies and compliance with regulatory requirements.
• Conduct regular audits of credit risk policies, processes, and portfolio performance to ensure adherence to both internal and regulatory standards.
• Prepare and present presentations to executive leadership that include analytics on expected portfolio performance, identifying trends and areas of potential risk and/or opportunity.
• Innovate to build risk strategies to embrace data driven decisions.

The ideal candidate will have the following:

• 10 years of risk strategy experience in credit card risk management with at least 5 years in a senior leadership role within the credit card industry.
• Proven experience in managing high-risk credit portfolios, including subprime, near prime, or non-prime customers.
• Extensive experience in credit risk modeling, customer segmentation, and credit underwriting in the context of credit card products.
• Strong understanding of credit card regulations and industry standards, particularly in the subprime lending space.
• In-depth knowledge of credit card risk management techniques and loss forecasting models.
• Ability to interpret complex data, identify trends, and develop actionable insights to inform credit risk strategies.
• Strong leadership, communication, and interpersonal skills to manage the risk team and collaborate with cross-functional stakeholders.
• Expertise in using risk management software, statistical tools, and credit risk modeling platforms.
• Strategic thinker with a keen understanding of subprime lending dynamics and consumer behavior.

• Analytical mindset with an ability to assess risk while balancing business objectives and growth.
• Proven track record in predictive analytics with the knowledge of, experience with and ability to use the tools, processes and practices for predicting business trends and providing forecasts that drive business decisions and business planning.
• Adaptable, able to thrive in a fast-paced and evolving market environment.
• Bachelors degree in finance, Economics, Risk Management, or a related field. A masters degree or relevant certifications (e.g., FRM, CFA) is highly preferred.

Why Continental Finance?

Continental Finance Company (the CFC) is one of Americas leading marketers and servicers of credit cards for consumers with less-than-perfect credit. Since our founding in 2005, we have prided ourselves on corporate responsibility to customers in terms of a strong customer support program and fair treatment. With our success, we have also grown into an innovative financial tech company! With a state-of-the-art consumer marketing and servicing platform, we provide a variety of services to consumers when other financial institutions will not accommodate them. With more than 2.6 million credit cards managed and serviced since our founding, we pride ourselves on putting the customer first. We are not a chartered banking financial institution, nor are we a debt originator or a credit card issuer.

CFC is an equal opportunity employer that is committed to inclusion and diversity. Our company provides equal employment opportunity (EEO) regardless of race, color, ancestry, religion, sex, national origin, sexual orientation, age, citizenship, marital status, disability, gender identity, or veteran status.

CFC is seeking bright, energetic individuals that will help us grow and develop together! We uphold a promise to treat our employees with the same care and concern as we do our customers. We offer all employees competitive compensation and benefits in an exciting, fast-paced business casual environment. Join our growing team and apply online today!

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