- Wilmington, DE, USA
- Permanent, Full time
Sr. Credit Portfolio Group Manager - Costco
Sr. Credit Portfolio Group Manager - Costco
- Primary Location: United States,Delaware,Wilmington
- Education: Bachelor's Degree
- Job Function: Risk Management
- Schedule: Full-time
- Shift: Day Job
- Employee Status: Regular
- Travel Time: Yes, 10 % of the Time
- Job ID: 18053221
Citi Branded Cards provides payment and credit solutions to consumers and small businesses, with more than 47 million accounts globally. The US Branded Cards business serves over 33 million accounts, comprising of Citi Branded Cards Proprietary and partner card products including Costco, American Airlines, AT&T and Expedia.
The Sr. Credit Portfolio Group Manager of the US Branded Cards Costco products will be responsible for leading a best in class dynamic Risk organization that drives sustainable growth within our Risk Appetite, supported by the power of analytics, effective governance, customer focus, and strong partnerships across the enterprise. The Risk Costco organization manages the Acquisitions and Account Management of the Citi US Cards Costco consumer and small business portfolio, helping ensure the business delivers favorable financial results while growing partner sales.
The pace, breadth and complexity of challenges that the Risk Management organization must address continue to expand rapidly. These challenges include appropriately assessing the dynamic evolution of consumer behavior (e.g., spend and payment patterns) and protecting customers, our Co-Brand partners, and the franchise by identifying and mitigating a variety of risks such as fraud, macroeconomic and political trends, and adhering to regulatory and policy requirements.
A very seasoned and senior leader is needed to lead this group and maintain a close and collaborative relationship with our Costco partner. The individual will provide the vision and direction to continue to drive sustainable growth for the Costco brand product portfolio via the use of advanced analytics, strong governance and integrative thinking, and the development and growth of strong talent. This individual will manage a team of senior managers and an organization of 10+ employees, in addition to offshore staff. This position reports directly to the US Branded Cards Chief Risk Officer (CRO).
Key responsibilities of this position include:
The Costco Credit Manager is responsible for the Costco Consumer and Small Business Credit Policy including New Account Acquisition underwriting, Existing Customer credit line management risk policies, authorization and fraud strategies. Additionally, responsibilities include:
- Responsible for the oversight and management of credit underwriting strategy development and execution, portfolio analytics, testing, and Risk control and compliance, and program design
- Responsible for adherence to the Risk Appetite Frameworks for the Costco Card portfolio's new accounts and existing customer credit line management programs
- Management of risk contractual obligations including policy benchmark to similar products, stress portfolio scenario, and policy change notification process.
- Effectively communicating with / ability to influence external clients, senior stakeholders, cross-functional partners, strategic vendors as well as internal and external oversight constituencies
Relationship and Contract Management:
- Senior contact for Costco partnership with overall responsibility for the health of the relationship(s), developing strong connections to Executive stakeholders and decision makers
- Viewed as a trusted advisor, ensuring programs are at leading edge of market relative to competitors.
- Manage contract negotiations, leveraging GM and Business Development teams, to renew existing relationships
- Partner with Co-Brand Costco product owners and cross-functional partners and stakeholders to develop/enhance the card products and identify lending opportunities.
- Partner with Operations leadership team to ensure best customer experience while maintaining the robust risk management principles
Management and Oversight:
- Ensure a consistent and strong control environment across Risk, product and functional partners to manage operational risk, ensuring oversight of all strategic deliverables.
- Identify opportunities to improve business performance, effectiveness and efficiency through process improvements and talent management.
- 10+ years of relevant risk management or financial services experience required
- 5+ years of people management experience, including experience as a manager of managers
- Experienced risk manager with knowledge of toolsets including behavior scores, internal and external data sources, data mining / segmentation applications
- Full knowledge of card product P&L dynamics and the interaction of consumer behaviors, product configuration and market/economic environment
- Strong analytic skills and deep understanding of the cards and lending business model
- Demonstrated success in managing risk policy/strategy through the economic cycle and/or in various environments; protecting and growing the business as it enters and exits economic stress
- Hands-on experience with portfolio performance monitoring and diagnostics
- Bachelor's Degree that includes demonstrated knowledge in an analytic field including engineering, mathematics, statistics
- Strong knowledge of the applicable laws and regulations and the current environment which govern credit card and lending policies and practices
- Capability and experience with establishing strategic vision and driving change to achieve business targets
- Senior executive interactions - can present credibly to both large and small groups
- Strong interpersonal skills and ability to influence at all levels of management
- Displays flexibility to work well with varying personal styles
- Takes personal responsibility to lead by example. Understands and appreciates diverse backgrounds. Demonstrates strong ethics
- Develops strong relationships across risk management and cross-functionally
- Superior leadership and team building skills, with a strong track record for attracting and developing high performing risk management talent
- Articulate and highly effective communicator, with an energetic and approachable style
- Capable of effectively managing a significant team size dispersed across multiple geographical locations, with strong ability to performance manage and continually elevate performance standards
- Contributes to a positive work environment; shares knowledge and supports diversity