Vice President Due Diligence


Salt Lake City, UT

Industry: Financial Services


8 - 10 years

Posted 340 days ago

  by    Lora Mock

Vice President Due Diligence – Strategic Partnerships – Salt Lake City, Utah, Relocation is available for this position

The Bank is headquartered in Salt Lake City, Utah and is an FDIC insured, Utah state chartered bank. The Bank is a leading national provider of online consumer and small business loans made in partnership with finance companies, OEMs, retailers and financialtechnology companies.

Due Diligence Manager or Vice President

The Vice President or Manager is responsible to lead the overall due diligence process and drive the management/execution of the transaction. The position reports to the Vice President of Due Diligence and Implementation (“VP DD&I”) and is responsible for taking the lead role to handle all aspects of the Prospective Partner onboarding process. The role is also responsible for leading the process to incorporate new products with existing Partners into the Bank Program structure. Additionally, the individual will be the primary relationship manager with Visa and MasterCard related to Bin# management, Program management, process design and control, and data processes and design. The role shall be a point of contact for each prospective partner through program launch. The position will interact with in a leadership role, and is supported by each respective department within the Bank and third-party resources (e.g. outside counsel, independent third-party specialists) that are required to complete the due diligence process.


·      Be the lead point of contact for prospective partners in order to manage the Bank’s in-depth due diligence and implementation processes through program launch. 

·      Direct the management of the approval process of prospective partners. 

·      Act as the Due Diligence & Implementation team’s interface and project manager with Visa, MasterCard,

and any related 3rd party processing companies required to support Bank Programs. 

·      Responsible for directing all aspects of the process related to underwriting and diligence of prospective


·      Initial review of documentation received from prospective partners. 

·      Manage all documentation related to new and existing partnerships. 

·      Assist in developing the credit policy for new programs. 

·      Throughout the due diligence and implementation process, work closely with senior management and

respective Bank departments (Compliance, Credit and Finance), as well as Third Party firms and Outside


·      Support the VP Due-Diligence & Implementation to introduce and utilize new technology solutions 

·      Support the redesign, efficiency, optimization, and reporting efforts to structurally improve Due Diligence

& Operations 

·      Schedule meetings and coordinate scheduling of site visits which includes creation of the agenda for the


·      Responsible for tracking all items that require remediation identified during due diligence, the site visit,

and third-party audits. Additionally, coordinate with the senior management team and partner to

prioritize remediation items. 

·      Lead the creation of the internal approval memo by working with the respective departments to

complete the various sections of the document and compile them into the master document. 

·      Coordinate the completion of risk assessments and compile the masterRisk Assessment document. 

·      Edit internal approval documents and provide other direction in preparation of the new partner and partner program submission process. 

·      Support the VP DD&I and EVP Business Development in managing the submission and presentment of proposed new partners and partner programs to senior management, the Bank’s internal approval committee, and Board of Directors. 

·      Coordinate implementation of new Strategic Partner Programs. 

·      Manage all administrative aspects of the implementation of the program which includes: (1) coordinate

training between the Bank and the partner, (2) ensure all remediation items from the due diligence process have been completed, (3) confirm relevant processes have been successfully tested (4) coordinate the receipt of requiredreporting and (5) maintain the implementation approval tracking form. 

·      Support the VP Ops/Oversight in interacting with the respective Bank departments related to new program implementation. 

Position Requirements

·      Bachelor’s degree and 7-10 years of overall experience in Banking or Financial Services with one or more of the following specialized experience:

o  2-3years’ experience in project management and/or M&A transactions at a granular level

 o  2-3years’ experience managing and/or supporting relationships or transactional experience involving financial institutions and Visa and/or MasterCard, particularly related to Bin#, file management, process architecture, and portfoliorisk (M&A work in this area is applicable)

o  2-4years’ experience preferable in operations or analytical support roles related to credit card portfolio(s) management

o  2-3years of transactional due diligence experience, Master’s Degree preferable

o  2+ years’ experience in financial & regulatory compliance related activities and responsibilities

o  2-4years’ experience in consumer credit activities strongly recommended

·      Explicit experience in managing relationships and communications directly with C-Level Executives both internally and with 3rd parties

·      Transaction experience with a consulting firm, law firm, investment bank, private equity firm or related services

·      Experience evaluating transactional risk and providing analysis to executive leadership and board of directors

·      Strong project management experience

·      Strong verbal and written communication skills with attention to detail

·      Strong working knowledge of Microsoft Office, specifically advanced knowledge in Excel

$188K - $225K