Director, Consumer Credit Risk Management
5 months ago
**About this opportunity**
At Meridian our aspiration is to integrate our purpose into everything we do for people, the planet, and communities. We believe that our greatest opportunity is to create opportunity and meet people where they are.
To direct the Retail Credit Risk Management function in Meridian Credit Union and support motusbank with a focus on ensuring consistent alignment to being a member-centric, innovative, competitive organization while embracing simple and intuitive practices in all origination channels. As second line owner, direct the performance and risk management practices of the retail lending portfolio and teams, including policy development; portfolio management; retail collections and credit recovery; vendor management and the development and support of new lines of business and corporate initiatives.
The incumbent will establish oversight measures, risk controls and manage overall credit risk appetite for both Meridian and motusbank; champion improved efficiencies, implement permanent service improvement solutions and augment performance standards that align with strategy. This position has a major impact on the achievement of corporate retail lending quality objectives as well as the organization’s ability to grow the credit portfolio profitability and prudently, while driving strategic initiatives to transform the consumer credit function. This role partners closely with key origination stakeholder groups, and provides strategic partnership in development of origination strategies that align with risk tolerance.
**Key Responsibilities**:
- Effectively manage the Credit Union and Bank’s Retail loan and mortgage portfolio to ensure credit risk is at acceptable levels while optimizing growth opportunities and minimizing credit losses.
- Ensure portfolio level risk management techniques keep pace with the industry and economic conditions in terms of both depth and scope, providing updates to executive and credit committees as appropriate.
- Support credit adjudication strategies, models, operational efficiencies, and practices.
- Effectively manage the outsourced relationship for motusbank, and other functional areas, to ensure timely and prudent adherence to agreed upon service levels.
- Develop, analyze and present required models and reports for internal and external stakeholders, committees, board, and auditors to ensure proper compliance, measurement and awareness.
- Develop, maintain, and verify compliance with Retail Credit Risk Management, FSRA and OSFI policies.
- Identify areas such as inadequate controls and other potential areas of emerging risk or opportunity.
- Thorough understanding of the end-to-end lending process, with specific focus on Retail Credit Management functions, technology, and tools.
- Establish procedures to operationalize credit policies and practices that govern the daily operations of the Retail Credit Management department.
- Maintain and/or enhance Risk Based Lending practices, and ensure methods are optimized and consistent with the economic environment.
- As platform stakeholder, develop and monitor the automated retail credit and loans origination processes, roadmap, and decision engines, leading the effort to enhance or amend as necessary.
- Manage and support cross functional initiatives within the organization, including large scale implementations, ensuring credit risk representation is adequate and supportive.
- Use innovative skills to promote new ideas and foster creative thinking in a fast-paced, digital environment that supports continuous improvement and efficiencies in processes and service offerings.
- Manage third party relationships required to support the Retail Credit Management function. Examples include Mortgage Insurers, Technology Providers, Title Insurers, and Collection platform providers.
- Support other credit activities and projects within Meridian Credit Union’s Credit Management function as directed.
**Knowledge, Skills and Experience**:
- Bachelor’s Degree in a related field, MBA preferred
- At least 10 years of senior experience within the various credit management functions of the financial services industry including credit recovery and portfolio management, both mortgage secured and unsecured lending
- A background in analytics with risk optimization experience preferred
- A solid understanding of the Canadian Retail credit market
- Thorough understanding of FSRA and OSFI regulations
- Demonstrate expertise and in-depth knowledge of Retail Credit Underwriting and Collections, including offering sound advice, and recognizing opportunities to add value.
- Understand the business implications of decisions and strive to improve organizational performance. This requires an awareness of business issues, processes and outcomes as they impact the Member and the organization’s business needs.
- High-initiative, can-do attitude, open-minded and comfortable challenging the status quo
- Demonstrate ability
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