Vice President of Consumer & Counterparty Credit Risk, Cross River
$200-250k
Office located in Fort Lee, New Jersey
API-based financial solutions for businesses
Be an early applicant
API-based financial solutions for businesses
1001+ employees
Be an early applicant
$200-250k
Office located in Fort Lee, New Jersey
1001+ employees
Company mission
To enable clients to deliver responsible financial solutions that empower consumers anytime, everywhere.
Role
Who you are
- 15+ years leadership experience in consumer life-cycle risk management covering underwriting, portfolio management, collections, and recoveries
- Experience in profitability-based risk reward assessments (NPV) and use of model-based assessment frameworks
- Significant experience in unsecured closed end, and revolving products. Secured consumer product experience a plus
- Experience in end to end prime-sub-prime portfolio management
- Experience with Payments, Nacha rules, and network chargeback rules
- Familiarity with Stress Testing
- Strong business acumen with a risk-reward control perspective
- Familiarity with applicable consumer regulatory requirements
- Demonstrated ability to successfully manage multiple priorities under pressure
- Degree in quantitative or a related field
What the job involves
- Reporting into the Chief Credit Risk Officer, we are seeking a VP, Consumer Credit Risk & Counter Parrty who will be responsible for the 2nd line oversight of Consumer Credit Risk for retained Consumer Portfolios, Payments, and Structured Financing risk arising from lending against consumer assets to partners or settlement risk with payment processes
- The Head of Consumer Credit Risk will identify, assess, measure, and manage retained credit risk for consumer assets on CRB’s balance sheet. This person will also be responsible for conducting independent credit risk assessments for consumer assets originated through partners, providing effective challenge to first line teams and partner risk teams, and ensuring that significant risks are promptly identified and collateralized
- This person will also be responsible for conducting independent credit risk assessments for consumer assets originated through partners, providing effective challenge to first line teams and partner risk teams, and ensuring that significant risks are promptly identified and collateralized
- Monitoring and continued enhancement of the credit risk appetite framework as applied to consumer assets
- Identify and develop credit risk metrics reporting (e.g., KRIs and KPIs) to continuously monitor and oversee risk of consumer assets
- Provide effective challenge to first line and partner risk teams through independent reviews of critical credit risk processes which includes underwriting, and portfolio management, collections, and recoveries
- Independently review structured credit facilities offered to partners originating consumer assets
- Ongoing monitoring of consumer loan retained portfolios
- Approval of limits and reserve settings
- Escalate issues and emerging risks in accordance with risk appetite program to Chief Credit Risk Officer and senior management
Our take
Cross River is a fintech and banking company that builds scalable embedded payments, cards, lending, and crypto solutions for businesses and individuals. Now a unicorn company with a valuation exceeding $1B, Cross River was founded in 2008 as a way to combine the innovations of financial technology with the existing world of banking.
Cross River has partnered with rising fintech businesses such as Ibanera, helping the Florida-based company build an all-in-one cross-border payments service. The company’s bigger picture approach has allowed it to develop several arms in the lending, compliance, and capital market sectors, amongst others, leading to a corporate flexibility that is crucial in the rapidly-evolving market.
Freddie
Company Specialist at Welcome to the Jungle
Insights
4% employee growth in 12 months
Company
Funding (last 2 of 4 rounds)
Mar 2022
$620m
LATE VC
Apr 2020
$100m
SERIES C
Total funding: $848m
Company benefits
- Retirement planning
- Employee development fund
- Ongoing learning and development opportunities
- Volunteer opportunities
- Charitable donation matching
- Monthly happy hours
- Free haircuts in our salon located at HQ
- Complimentary dry cleaning at HQ
- Valet parking at HQ
- Shuttle service to/from NYC
- Gym located at HQ
- River Cafe at HQ
Company HQ
Fort Lee, NJ
Leadership
Gilles Gade
(Founder, CEO & Chairman)Previously CFO at First Meridian Mortgage, Co-Founder and Managing Director at Chela Technology Partners, Associate Director at Barclays Capital and Investment Banking Associate at Bear Stearns & Company.
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