Director, Portfolio Credit Management
Purchasing Power is one of the fastest growing specialty e-retailers offering a revolutionary e-commerceexperience that gives our customers the ability to pay for purchases over time via payroll deduction. Our customers love us because we make paying for their purchases stress and hassle-free.
Are you a dynamic executive who is looking to influence strategy and execution?Purchasing Power is looking for a results-oriented, highly collaborative business leader with a growth mindset, who can lead our credit and portfolio management strategy and who is able to balance large scale changes with the need to shape more agile execution to address business needs.
The Director of Portfolio Credit Management, reporting directly to our CFO, will build a strategy and execute to unlock performing segments of our portfolio. They will optimize the portfolio by limiting the exposure of non-performing segments and controlling loss thereby mitigating risk and optimizing revenue. The position will lead a team to manage all aspects of credit strategy that make up this proprietary and strategic element of Purchasing Power’s business model including Underwriting, Modeling and Analytics and Risk Management. While focusing on the establishment and implementation of credit risk management policies and procedures, the position will also work closely with the company’s executive team and the leaders of all major business units to participate in and collaborate on strategic growth discussions and drive key initiatives for the company’s continued profitable growth while keeping our purpose in mind to provide customers a financially responsible and secure way to make purchases.
- Direct portfolio management activities to enhance client performance by unlocking performing customer segments and control losses. Monitor the performance of the portfolio and identify early trends of any potential performance changes. Define strategies and action plans to keep stable growth in portfolio performance.
- Define the company’s overall participation, spending, and payment offering with risk management strategies to facilitate the growth of the business while balancing revenue growth and credit losses.
- Formulate, revise, implement, and monitor risk policies, procedures, and practices to ensure compliance with applicable regulatory requirements, financing covenants, client special requests, market opportunities, the company’s goals and objectives, and Board directives.
- Design underwriting criteria and risk guidelines. Oversee the execution of the underwriting criteria including communication with internal customers (Sales, Account Management, and Operations) regarding the objectives of underwriting policies and procedures and the adherence to the same.
- Continually refine, enhance, and develop advanced underwriting methods by modeling, monitoring, testing, and establishing variations to the criteria and/or sources of data.
- Provide strategic direction for effective fraud mitigating solutions, including the establishment and maintenance of fraud management tools, policies, and performance.
- Perform other duties as assigned
Desired Skills and Experience
- Bachelor’s degree in Business / Finance or quantitative fields required. Advanced degree or MBA preferable.
- Minimum 15 years of experience in an analogous industry (preferably with some consumer finance or retail installment sales experience)
- At least 10 years of experience in a leadership role managing various aspects of consumer financeportfolios, underwriting, and score-carding. Experience with group underwriting helpful, but not required
- Hands-on analytical experience
- Proven problem-solving, conceptual thinking, and analytic capabilities
- Strong process and project management abilities
- Strong executive-level communication skills
- Strong relationship building skills to work effectively across all areas of the business