Chief Credit Officer

WEX  •  ME

11 - 15 years experience  •  Advertising & Marketing Services

Salary depends on experience
Posted on 09/26/17
11 - 15 years experience
Advertising & Marketing Services
Salary depends on experience
Posted on 09/26/17

ESSENTIAL DUTIES & RESPONSIBILITIES

Portfolio Credit Risk Management

Implement and maintain policies, operating standards and management practices designed to ensure the growth and health of the all WEX Accounts Receivable Portfolios (“the Portfolios”).  Primary measures include maintaining and enabling corporate revenue goals, maximizing fee revenue yields, while also minimizing credit losses, fraud losses, and customer attrition.

The total portfolio volume indicators are: $35 billion annual card sales, 350,000 customer accounts, and $2 billion+ in cardholder receivables (needs updating). The portfolio is comprised of a highly diverse customer mix in terms of industry, and ranges in customer size from small business to Fortune 50 corporations and Federal Government accounts. Accordingly, a wide range of experience and expertise in risk management disciplines is required.

Continuous process improvement is critical to forecast accuracy and predictability of  late fee revenue, bad debt, delinquency patterns, and causal relationships between risk management actions and customer attrition. Drives continuous feedback loops and a vibrant learning culture in order to optimize results, and ensure agile course corrections in the face of changes to internal and external conditions.

CRO position requires extensive knowledge and experience across a multitude of portfoliorisk management disciplines and professional skills, including new credit underwriting, account management, collections, fraud, accounting and financial controls, bankruptcy administration, salestax, compliance and industry technology trends. Provide consultative services and expertise as required in legal and contractual matters and bankruptcy proceedings.

Proactively participates in the ongoing development and refinement of the company’s risk management strategies and policies in collaboration with Executive Management.  Communicate the effectiveness of current practices and policies, and proactively recommend or analyze potential changes to increase growth, retention and profitability. Drive increasingly scientific, data-driven approaches to management, and enhanced champion challenger and testing strategies.

Global Credit Risk Governance

Develops and manages effective governance and stewardship programs and frameworks to ensure the company has visibility, transparency and effective controls for all business units globally as relates to credit risk management functions. Liaison with senior most credit management personnel at all business untis, often including formal dotted line reporting structures. Responds effectively to any concerns or findings by WEX Internal Audit, ERM committees, and business unit senior management as relates to credit risk management. Maintain timely quarterly dashboard reporting and credit risk KPI’s from all business units. May conduct on site reviews at domestic and international business units. Recommends and ensures remediation steps are identified and executed by individual business units in cases where credit policy definition, compliance or process controls are deemed in adequate. Global Credit Risk Management programs and status updates are provided to the WEX BOD Audit Committee several times per year.

Operational Management / Budget Management / Financial Controls / Leadership:

Drive financial performance on departmental operating budgets. Drive annual operating efficiency increases of +/- 3%-7%, with more material step function improvements with regularity. Annual operating budget in excess of $8 million.  Ensure adequate financial controls are in place through formal process engineering, re-design, and rigorous testing. Leverage internal constituencies and complementary professional disciplines (i.e. FIN, IA etc) to confirm trouble-shooting, root cause analysis, and effective corrective measures. Prevent systemic billing and reconciliation errors that could result in uncollectible receivables. Influence colleagues and other functions appropriately to ensure adequate controls are always understood, prioritized and implemented, while not overly constraining growth or flexibility around client needs. Great emphasis is placed on consistency and predictability of key operational and financial control mechanisms. Swift, judicious action must be undertaken to remedy errors and defects.

Develop and retain and increasingly talented, experienced, and engaged professional staff. Aggressively recruit and retain high performance teams with progressive industry experience. Foster a challenging and rewarding work climate while providing high degrees of personal accountability as well as career advancement opportunities.

Regulatory Compliance / WEX FSC Board of Directors

Provide leadership, governance and stewardship in role as Director, WEXBank (fka: Wright Express Financial Services Corp). Enable and advocate for success and interest of bank’s” management team. Through operational role, ensure company risk policies and practices and objectives are compliant with all applicable FDIC and State of Utah compliance standards. Provide services as described under “parent company servicer agreements”.

Qualifications

 

Knowledge, Skills, Abilities

Minimum RequiredQualifications for Consideration

• Bachelor’s degree (B.A.) from four-year institution plus additional lending, compliance and audit related training.

• 10-15years experience in increasingly senior risk management, operational, corporate leadership and administrative roles

• Minimum 8-10 years experience in bank lending, loan review and/or compliance experience or equivalent education in bank lending, loan review/compliance procedures and policies.

• Demonstrated Financial Management experience.

• Personal Effectiveness/Credibility.

• Problem Solving/Analysis.

• Presentation Skills.

• Technical Capacity.

Job Number:

 170000UU

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