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Chief Risk Officer

Company: Mosaic
Location: Oakland
Posted on: May 21, 2018

Job Description:

The Chief Risk Officer (CRO) reports to the company's President and is the co-Chair, along with the company's Chief Financial Officer, of the Pricing and Credit Executive Committee (PCEC). The CRO is responsible for the continuous review and active management of the company's consumer loan portfolios and contractor/installer receivables in order to optimize loan performance; lead advanced analytics to identify and implement additional data-driven insights into origination and portfolio management strategies for risk mitigation and/or volume expansion at acceptable risk levels; assure underwriting execution is in compliance with PCEC policies; detect and respond to deterioration or improvements in loan quality; and lead the ongoing review and improvement to all company policies and procedures related to credit risk management.Essential Functions

  • Oversee the full range of responsibilities for credit analysis, collections, and underwriting including continuous optimization of these functions to improve business results. Specifically, the CRO will have oversight of these areas within the company:
  • Consumer Credit Policy; governing all credit risk controls within the company.
  • Consumer Credit Operations; including underwriting, fraud, compliance, collections, and recoveries.
  • Credit Analytics and Loss Forecasting; including working with CFO to establish ALLL and with Capital Markets for investor performance reporting & analysis.
  • Contractor Risk Operations & Oversight; including review and approval of new contractors, risk scoring and surveillance of existing partners, and optimization of risk exposure through funding policies and limits.
  • Implement a system of deep and ongoing credit analysis and quality assurance for loans made as required by PCEC; assign ratings as needed in conjunction with loan loss reserve analysis.
  • Direct the review of documentation and files periodically for quality assurance of credit and collateral, lending policy conformance; review technical exceptions and deficiencies; maintain reports of continued outstanding exceptions to the PCEC and Board of Directors.
  • Evaluate and recommend policy changes based on strong evidence and data analysis.
  • Establish charge-off criteria with PCEC. Prepare reporting at least monthly to identify loans meeting non-accrual or charge-off criteria.
  • Provide quarterly analyses of the adequacy of the allowance for loan and lease losses to CFO.
  • Identify opportunities in policies, pricing, loan product segments, or dealers and make recommendations for program expansion or optimization of risk-adjusted returns.
  • Assess ongoing the effectiveness of the company's credit and data infrastructure for risk management and make recommendations to President and CTO regarding future credit information needs.
  • Prepare and deliver periodic reports for the company's Board of Directors of the company's credit risk exposure and loan portfolio performance.
  • Prepare periodic analyses of various portions of the loan portfolio including past due, prepayment activity, fraud, concentrations of credit, etc. for the benefit of the executive team and overall business decision making. Competencies
  • Leadership and mentoring.
  • Strategic and technical analytical acumen.
  • Financial understanding and business judgment.
  • Personal effectiveness/credibility through influence.
  • Highly collaborative.
  • Problem solving.
  • Presentation skills. Supervisory ResponsibilityThis position has significant supervisory responsibilities at the Director/VP level.LocationThis position is located at the company's headquarters in Oakland, CA.Required Education and Experience
  • Bachelor's degree (BA/BS) from four-year institution plus additional lending, credit and analytics related training.
  • Minimum 10 years of experience in consumer lending in roles with direct or indirect responsibility for credit loss performance. Preferred Education and Experience
  • MBA or Master's degree in relevant field.
  • Consumer Credit Officer / Senior Consumer Credit Officer designation with a Top-20 bank.
  • Experience with B2B2C lending and associated merchant/dealer risk management.
  • Prior experience managing risk in an entrepreneurial environment such as FinTech and/or nonbank specialty lending.

    Keywords: Mosaic, Folsom, Chief Risk Officer, Executive, Oakland, California

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