Chief Credit Risk Manager

7 days ago

Old Toronto, Canada Momentum Financial Services Group Full time
Job Description:

Momentum Financial Services Group is a leading provider of financial services in North America. Our retail network of over 400 locations offers access to cash and related products to help our customers achieve their goals.

Role Overview:

The Chief Credit Risk Manager - Loss & Allowance Forecasting builds and manages the best-in-class loss forecast and reserve models based on internal portfolio health, credit performance trends as well as macro-economic factors. This role establishes the loss forecast and outlook review, update, and communication cadence.

Duties and Responsibilities:
  • Collaborate with Finance, Accounting, Product, Credit and Collection teams to create proper model inputs.
  • Evaluate and ensure reasonability of input assumptions for loss forecasting in new models and analyze resulting forecast outcomes during each forecast cycle for appropriateness.
  • Partner with data and analytics teams to create and update KPI and Dashboard at the Portfolio level to help drive improved loss forecasting and loan book health assessment.
  • Develop and execute sophisticated credit loss forecasting models across multiple use cases in periodic forecast assessments, capital planning and stress testing scenarios; proven track record in developing and deploying IFRS or CECL reserve models.
  • Conduct strategic business planning and analysis for what-if sensitivity analysis.
  • Analyze outcomes from new models alongside existing models to formulate ranges and understand varying dynamics.
  • Collaborate with Credit Strategy, Collections, Finance, Accounting and Product teams to incorporate changes in underwriting, as well as other business dynamics within the overall forecast.
  • Evaluate externally sourced Macro economic forecasts for use within the model suite as well as present to internal stakeholders across all stakeholders.
  • Manage a team (1-2) of analysts.
  • Candidates will have significant interaction with a wide range of management colleagues up to CEO and his Directs, as well as external stakeholders such as regulators/auditors; methodical, detail-oriented and storytelling in presenting results.
Requirements:
  • 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:
  • Minimum 5 years of experience in a lending or financial institution with hands-on experience in portfolio analytics, loss forecasting, allowance (IFRS/CECL) modeling and reserve/provision.
Skills:
  • Must have knowledge of analytic techniques such as regression analysis, segmentation techniques, time series analysis and also familiarity with SQL and Tableau.
  • Ability to monitor and analyze changes in the consumer lending marketplace and develop insightful root-cause analysis.
  • Experience working as a business partner to Finance, Accounting, Product, Credit and Collections functions.
  • Experience working in a highly regulated financial services environment.
  • Experience creating lifetime customer value and loss forecasting methodologies.
  • Ability to work cross-functionally, and create actionable analysis/reporting.
Compensation:

We offer an estimated annual salary of $120,000-$180,000 depending on experience, location, and qualifications. This figure includes base pay and potential bonuses based on individual and company performance.

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