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Lead Risk Management Strategist

2 months ago


Deerfield Beach, Florida, United States Discover Full time

Shape the Future of Financial Services.

At Discover, we empower our employees to engage in impactful work from the outset. Our inclusive culture thrives on three fundamental principles: We Play to Win, We Get Better Every Day, and We Succeed Together. We are committed to fostering your growth and enabling you to make a significant impact at one of the premier digital banking and payments organizations. Your individuality is valued, providing you with the opportunity to excel.

Join us in crafting a future where millions achieve a brighter financial outlook with Discover.

Position Overview:

This role within Corporate Risk Management involves leading a team responsible for overseeing consumer credit policies through strategic planning and execution of ongoing and periodic Consumer Credit Assessments throughout the lifecycle of consumer lending products. The primary focus is to deliver an independent evaluation of asset quality and identify key consumer credit risks associated with the firm’s lending practices.

The Lead Risk Management Strategist will possess extensive knowledge of credit risk management protocols, credit strategy formulation, and regulatory standards for safety and soundness. This individual will have the expertise to conduct Consumer Credit Assessments, oversee review activities, and communicate findings, including issue identification and reporting to relevant stakeholders and credit governance committees.

Responsibilities will also encompass evaluating and monitoring consumer credit risk appetite, tolerance, and thresholds. Additionally, the role involves defining processes for assessing the performance of the consumer credit portfolio and reviewing credit risk strategies while weighing trade-offs among critical business metrics such as credit losses, receivables, and profitability. This will require the identification, design, and implementation of complex business analyses to support Consumer Credit Assessments and overall business strategy. The strategist will also develop and mentor teams to effectively identify, manage, and escalate risks.

Key Responsibilities:

  • Formulate a Consumer Credit Assessment plan utilizing a risk-based approach and execute reviews across all consumer lending products, including credit cards, personal loans, and home equity loans. Collaborate with credit strategy teams to address identified credit risk issues and report findings through established governance channels.
  • Engage with business partners, senior management, governance committees, and regulators to present Consumer Credit Assessment results and analytical findings in a clear and concise manner.
  • Develop, manage, and maintain oversight of consumer credit risk appetite, tolerance, and thresholds, while being aware of consumer credit strategies and their implications for enterprise profitability.
  • Establish and uphold credit risk oversight processes, policies, and procedures in alignment with the overall Corporate Risk Management framework.
  • Implement and sustain independent credit risk portfolio reporting across all consumer lending products.
  • Participate in departmental and enterprise management practices to attract and nurture talent, providing constructive feedback and coaching to team members regularly.

Minimum Qualifications:

To be considered, candidates should possess:

  • A Master’s Degree in Statistics, Economics, Engineering, Finance, or a related quantitative discipline.
  • 8+ years of experience in Statistics, Economics, Engineering, or a related quantitative field, including equivalent internship or research experience.
  • Alternatively, 15+ years of experience in the credit card or related financial services sector without a degree.

Preferred Qualifications:

Ideal candidates will also have:

  • A Ph.D. in Statistics, Economics, Engineering, Finance, or a related quantitative field.
  • 10+ years of experience in Statistics, Economics, Engineering, or a related quantitative field, including equivalent internship or research experience.
  • 10+ years of experience in credit review, credit risk management, or internal audit functions focused on credit risk at a large financial institution.
  • Proficiency in statistical software such as SQL, SAS, Python, or other tools for extracting and analyzing complex consumer and transaction-level data on big data and/or cloud computing platforms.

Compensation and Benefits:

The compensation for this position typically ranges based on experience and qualifications. Additional incentives may be included as part of a competitive total compensation package. Benefits offered may include:

  • Paid Parental Leave
  • Paid Time Off
  • 401(k) Plan
  • Medical, Dental, Vision, & Health Savings Account
  • Short-Term Disability, Life, Long-Term Disability, and Accidental Death & Dismemberment Insurance
  • Recognition Programs
  • Education Assistance
  • Commuter Benefits
  • Family Support Programs
  • Employee Stock Purchase Plan

Discover is dedicated to creating a diverse and inclusive workplace. We are an equal opportunity employer and do not discriminate based on race, color, religion, sex, sexual orientation, gender identity, national origin, age, disability, protected veteran status, or other legally protected status.

We comply with applicable federal, state, and local laws regarding qualified individuals with disabilities and are committed to providing reasonable accommodations. If you require assistance in searching for a position, completing an application, or participating in an interview, please reach out for support. All information regarding accommodation needs will be kept confidential and used solely to provide necessary assistance.