Senior Manager, Risk

4 days ago

Old Toronto, Canada Momentum Financial Services Group Full time

Momentum Financial Services is a leading provider of financial services in North America. For 40 years, we've been committed to providing financial solutions that meet the evolving needs of consumers and business owners. Through our retail network of over 400 locations, known as Moneymart, Insta Cheques and the Cheque Cashing store, we provide access to cash and related products to help our customers achieve their goals.

Our highly skilled workforce puts customers first in everything we do. We serve 2 million people annually with diverse and innovative financial products such as loans, cheque cashing, money transfer and prepaid cards. Through this ever-evolving suite of services, we empower customers to manage their finances and improve their lives. Wherever customers are on their financial journey,Momentum Financial Services Groupprovides solutions.

#Corporate

Job Description

GENERAL FUNCTION

The Sr. Manager, Risk manages the end-to-end process of the company’s credit and underwriting functions in the US and Canada across all consumer lending products, with the goal of creating and maintaining a balanced portfolio that optimizes profitability within agreed upon risk appetite thresholds. The successful candidate will be supporting the VP, Risk in areas of acquisition credit strategy development and execution, information management infrastructure, underwriting decisioning platform, and credit performance tracking and regulatory compliance, through advanced data-based analytics.

The successful candidate will help create and manage global credit policies, develop risk assessments, and help evolve the methodology for setting the company’s allowance for loan losses. The successful candidate will collaborate with the business lines, product, finance, technology, marketing and the advanced modeling team on relevant initiatives including credit strategy changes, revision of policies, portfolio and industry reviews, process optimization and target market analysis.

DUTIES/RESPONSIBILITIES

  • Support the transformation of Momentum's credit operations and underwriting processes by leveraging advanced data science and machine learning capabilities.
  • Work closely with the VP, Risk to develop and implement credit strategies for all US and Canadian lending products.
  • Maintain all aspects of underwriting analytics, including the approve/decline process, dollar assignment, loan refinancing, and eligibility criteria for marketing and risk-based pricing.
  • Provide training, tools and advice to support the business.
  • Review and monitor the loan portfolio, including delinquency and charge-off rates, yield analysis, credit concentrations, etc.
  • Monitor Momentum's compliance with risk appetites and policies.
  • Identify emerging risks, analyze key risk trends and support the development of prudent risk management in enabling business growth initiatives. Help to determine what constitutes an emerging risk trend based on knowledge of the portfolio, industry and general macroeconomic environment.
  • Recommend changes to products, policies, and strategies accordingly.
  • Manage a team (3-4) of credit risk analysts.
Qualifications

EDUCATION

  • Advanced degree in quantitative discipline such as math, computer science, physics, economics, statistics, etc.
  • Strong quantitative skills: ability to work with mathematical concepts such as probability and statistical inference

EXPERIENCE

  • Min 7 years of experience in a lending or financial institution with hands on experience in credit analytics and underwriting.
  • Experience leading a small team

SKILLS

  • Must have knowledge of analytic techniques such as regression analysis, segmentation techniques, decision trees, and others, and also familiarity with SQL and Tableau.
  • Ability to monitor and analyze changes in the consumer lending marketplace and develop and implement appropriate short and long-term business solutions.
  • Experience working as a business partner to field management, finance, marketing and corporate senior management.
  • Experience working in a highly regulated financial services environment.
  • Experience creating lifetime customer value and loss forecasting methodologies highly desirable.
  • Ability to work cross-functionally, and create actionable analysis/reporting.
Additional Information

All your information will be kept confidential according to EEO guidelines.

*Notice to Ontario Applicants –Momentum Financial Services Groupis committed to accommodating applicants with disabilities up to the point of undue hardship during the recruitment, assessment, and selection process. If you are selected for an interview, please notifyMomentum Financial Services Group if you require accommodation in respect of the materials or procedures used at any time during this process. If you require accommodation,we will work with youto determine how to meet your needs.

Note to Internal Applicants: All internal applicants are required to notify current manager regarding interest in applying for this role.

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