VP, Credit

Vice President, Credit

We are seeking an accomplished and performance driven leader to join our team as Vice President of Credit. This position offers a unique opportunity to transform our credit strategy and operations and make substantial contributions to our financial growth and risk management efforts. In this influential role, you will be tasked with a meticulous examination of our processes to innovate, craft a retail credit operations strategy, strike a balanced approach to credit risk management, and optimize the quality of our retail credit portfolio. Your pivotal role will involve shaping our retail lending strategy to align seamlessly with our broader business goals.

Essential Functions:

* Develop and execute the credit strategy in line with the company's broader financial and business objectives including growth a healthy account receivable balance with growth net account openings.
* Continuously assess and refine credit policies, procedures, and underwriting standards in partnership with our Co-brand bank partner (Citibank) to drive profitable growth while managing credit risk effectively.
* Oversee the entire retail credit portfolio, monitoring the performance of existing accounts and credit exposures.
* Identify trends, risks, and opportunities within the portfolio and take appropriate actions to optimize the credit portfolio's quality and profitability (including funding costs).
* Implement risk assessment methodologies to evaluate credit applicants and existing customers.
* Develop and maintain risk mitigation strategies, including credit scoring models, credit limits, and collections processes.
* Collaborate with the risk management team to monitor and mitigate credit-related risks effectively.
* Ensure compliance with all relevant regulations, laws, and industry best practices in retail credit.
* Maintain up-to-date knowledge of regulatory changes that may impact retail credit operations.
* Prepare and present regular reports on the performance of the retail credit portfolio to senior management, board of directors and external regulators.
* Utilize data analysis to make informed decisions and recommendations for improving credit and sales performance.
* Manage relationships with credit bureaus, credit scoring providers, risk identification and other vendors to support credit decision-making and risk assessment.
* Point person to lead the relationship and negotiate with Banking Partner Citi and Network Provider Amex. Also, Partner with Macy's call center teams to ensure that the Macy's economics are properly reflected in the profit share agreement with the banking partner.

Leadership Capabilities

* Bring a strong leadership profile;comfortable leading change;highly effective at engaging, developing, and motivating a team.
* Communicate with clarity, conviction, and confidence across all levels, both up and down the organization. Able to understand and work in a large scale, complex matrix environment.
* A strong executive presence, well-developed presentation, interpersonal, and relationship-building skills.
* Build trust through personal credibility and has a demonstrated ability to build trusted partnerships with senior leaders across the organization.
* Lead and mentor a high-performing team of credit professionals.
* Provide guidance, professional development, and training to team members to ensure a cohesive and efficient credit department.
* Strategic, result-oriented and executes flawlessly, with a fluid and flexible work style.
* Unyielding business ethics, personal integrity, and values that align with those of the company.
* High ethical standards demonstrated by the individual's approach to business and the ability to set that tone for the entire organization.
* Problem solver and quick thinker who can connect the dots quicklyand recommend appropriate Comms support as problems arise.
* Strong analytical and process skills with the ability to analyze, interpret, and utilize data to make sound business decisions. Must also be a creative, strategic thinker with strong listening skills.

Qualifications

* Bachelor's degree in finance, business, or a related field (master's degree preferred)
* 10+ years of progressive experience in consumer credit (preferably in the cobrand credit card space), including significant experience in a leadership role. Such a role could be at a credit originator such as a Bank or a Non-banking finance company or a company with a loyalty program/cob-brand card in managing such a role.
* Strong knowledge of consumer credit risk assessment, underwriting, managing cost of funds and portfolio management to drive Net Interest margin with lower Net Credit Losses.
* Familiarity with credit scoring models and decisioning systems.
* Excellent analytical, communication, and negotiation skills.
* Demonstrated ability to make data-driven decisions and implement strategies.
* Strong knowledge of regulatory requirements related to retail credit.