Freelance Credit Risk Modeling Jobs in Washington

PenFed is hiring a (Hybrid) Sr Director, Consumer Credit Card Strategy at our Tysons, Virginia location. The primary purpose of this role is to own the end-to-end development and implementation of credit strategy/policy and conduct credit risk monitoring & analytics for Credit Card and Deposits Overdraft products.

This position will contribute to setting up strategic goal / credit agenda and managing a team of managers & analysts. This position plays a critical role in enhancing credit risk strategy and management ecosystem to enable sustainable and resilient Credit Card business growth, including achieving business goal within risk appetite, optimizing targeting & acquisition credit strategy, mitigate credit abuse and portfolio risk, enhance lending program economics, and support member retention / engagement.

The incumbent will partner closely with Consumer Lending product team and other key stakeholders across Consumer Banking and Enterprise teams.

The ideal candidate will have a deep understanding of the inherent risk and performance drivers of Credit Card / Overdraft business as well as direct experience in developing credit policy/strategy. The candidate is expected to exhibit sound judgment in decision making and be an inclusive and collaborative partner.

Reasonable accommodation may be made to enable individuals with disabilities to perform the essential functions. This is not intended to be an all-inclusive list of job duties, and the position will perform other duties as assigned.

• Manage and grow a team with strong analytical and credit strategy development capability, focusing on credit risk and portfolio/account level profitability, as well as optimizing marketing effectiveness.
• Lead team to develop and manage new origination automated/judgmental credit strategies as well as account management credit policies, from approve/decline, line assignment and portfolio risk management.
• Responsible for defining Credit Card & Overdraft credit strategy risk tolerance limits and decisioning constraints in collaboration with second line Credit Risk Management.
• Lead team to develop and maintain cash flow/NPV valuation tool for acquisition and account management programs to enable decisioning optimization.
  • Derive and refine risk segmentation and loss expectations / risk premium.
  • Ground and extrapolate economics inputs, assumptions, and curve shape.
  • Evaluate, recommend, and operate valuation platform.
  • Automate sensitivity and gaming functionalities.
  • Develop standardized metrics and reporting around NPV valuation, monitoring, and platform/tool assessment/refinement.
  • Working with finance to govern the NPV development, review and decision-making process.
• Lead team to develop / refine Credit Card & Overdraft initial line assignment strategy:
  • Evaluate and recommend segmentation schemes, such as Risk, Channel, Product, Channel and Ability to Pay.
  • Derive recommended initial credit limit based on cash flow valuation model economics projections and decision constraints. Benchmark against industry.
  • Ground sensitivities on assumption for line assignments and testing agenda for continuous optimization.
  • Develop and test on graduation / line increase strategy (with control and assumptions needed for the program to be effective)
• Lead team to develop credit strategies tailored to acquisition channel and product type to support business growth. Partner with business segment product owners to optimize acquisition targeting/marketing campaigns that align with credit policies.
• Lead team to monitor credit quality, risk performance, and economics of Credit Card & Overdraft portfolio on the ongoing basis to prevent or mitigate consumer loan losses.
  • Program deep dive and credit policy change monitoring to drive credit policy optimization and risk mitigation strategies.
  • Monitoring and analysis of credit risk for both organic and acquired portfolio, prepare materials for regular Business Review and Credit Risk Committee presentation.
• Provide risk analytics to support credit expansion by overseeing credit aspects of onboarding of acquired portfolios and product launch.
• Function as a strategic and trusted partner with Product Team as they evaluate new asset classes/products.
• Partner with key stakeholders in various groups (Credit Risk Modeling, Product, 2nd line Credit Risk Management, Compliance, Operations, Finance and Enterprise Risk Management) to identify areas of opportunity and spearhead initiatives to enable profitable growth while aligning with Enterprise risk appetite and capital plan and adapting to changing economic and regulatory environment.
• Provide thought leadership, coaching and training to team to develop skills, cultivate credit culture and achieve strategic goals.
• Maintain strong working knowledge of consumer lending related regulations to ensure compliance. Remain abreast of financial regulatory developments in credit risk management and best practices within the industry.
• Participate in external and internal audits, and regulatory examinations as needed.
• Spearhead GenAI adoption to automate, improve efficiency and enhance credit policy / underwriting.
• Identify required data and work with data stewards to understand data source, ensure data quality and retrieve data on a timely basis. Contribute to credit data mart and corporate database designs.

Equivalent combination of education and experience is considered.

• Bachelor’s degree in business, Economics, Quantitative Discipline or Equivalent, Finance is required. MBA or master’s degree in the related field is highly preferred.
• Minimum of twelve (12) years’ experience in credit strategy, credit policy & analysis or credit risk management in the financial services industry.  Experience in Consumer Lending products preferably Credit Card.
• Minimum of five (5) years of direct management experience.
• Ability to interact effectively with a variety of partner teams within and outside Consumer Banking in a collaborative environment. Ability to influence and build consensus with 2nd line Credit Risk on credit decisions.
• Detail-oriented, results-driven, and ability to navigate in a quickly changing and high demand environment to develop solutions while balancing multiple priorities.
• Demonstrate strong integrative thinking, problem-solving and high degree of proficiency in synthesizing and communicating data from a variety of disciplines.
• Excellent written, verbal communication and presentation skills. Ability to explain complex topics and technical details in succinct storytelling to a wide variety of audiences.
• Self-motivated and strong people skills to actively lead and implement ideas in a cross-functional team environment.
• Proven project management skills, ability to manage multiple projects. Ability to manage multiple projects simultaneously and adapt to rapid changes in priority.
• Strong skills in various data analysis and visualization tools including PowerPoint, Excel, Tableau and SQL are required. Proficiency with statistical tools (R, Python) is preferred.
• Experience using A.I. tools preferred.

Supervisory Responsibility

This position will supervise employees.

Licenses and Certifications

There are no additional certifications required.
 

Work Environment

While performing the duties of this job, the employee is regularly exposed to an indoor office setting with moderate noise.

*Most roles require working in an office setting with moderate noise and the ability to lift 25 pounds.*

Travel

Ability to travel to various worksites and be on call will be required.

Pay Transparency

The anticipated starting salary range for this role is $121,800.00 - $285,683.00
This position is eligible for an organizational performance based annual bonus, subject to board discretion and approval.
This position is eligible for an individual performance based annual bonus.

#LI-Hybrid

Equivalent combination of education and experience is considered.

• Bachelor’s degree in business, Economics, Quantitative Discipline or Equivalent, Finance is required. MBA or master’s degree in the related field is highly preferred.
• Minimum of twelve (12) years’ experience in credit strategy, credit policy & analysis or credit risk management in the financial services industry.  Experience in Consumer Lending products preferably Credit Card.
• Minimum of five (5) years of direct management experience.
• Ability to interact effectively with a variety of partner teams within and outside Consumer Banking in a collaborative environment. Ability to influence and build consensus with 2nd line Credit Risk on credit decisions.
• Detail-oriented, results-driven, and ability to navigate in a quickly changing and high demand environment to develop solutions while balancing multiple priorities.
• Demonstrate strong integrative thinking, problem-solving and high degree of proficiency in synthesizing and communicating data from a variety of disciplines.
• Excellent written, verbal communication and presentation skills. Ability to explain complex topics and technical details in succinct storytelling to a wide variety of audiences.
• Self-motivated and strong people skills to actively lead and implement ideas in a cross-functional team environment.
• Proven project management skills, ability to manage multiple projects. Ability to manage multiple projects simultaneously and adapt to rapid changes in priority.
• Strong skills in various data analysis and visualization tools including PowerPoint, Excel, Tableau and SQL are required. Proficiency with statistical tools (R, Python) is preferred.
• Experience using A.I. tools preferred.

Supervisory Responsibility

This position will supervise employees.

Licenses and Certifications

There are no additional certifications required.
 

Work Environment

While performing the duties of this job, the employee is regularly exposed to an indoor office setting with moderate noise.

*Most roles require working in an office setting with moderate noise and the ability to lift 25 pounds.*

Travel

Ability to travel to various worksites and be on call will be required.

Pay Transparency

The anticipated starting salary range for this role is $121,800.00 - $285,683.00
This position is eligible for an organizational performance based annual bonus, subject to board discretion and approval.
This position is eligible for an individual performance based annual bonus.

#LI-Hybrid