Director of Risk Management- U.S.
Who is Financeit?
Financeit is a market leading point-of-sale payment plan provider, focused on the home improvement industry, but also with clients in the vehicle and retail industries. Our innovative cloud-based technology makes it easy for merchants to increase close rates and transaction sizes with affordable monthly or bi-weekly payment plans. The Financeit platform features a fast, transparent application process and has approved over 8,000 merchant partners across Canada, received more than $3 billion in loan applications since launching in 2011.
We’re a diverse and dynamic company with an open office environment that’s seeking the best and brightest. Financeit is small enough that you can make an impact within the company, and large enough to make an impact in market.
About the role:
We’re looking for someone to drive the company’s strategic risk management vision and framework in the United States including: working with Senior Management to establish the organization’s risk appetite; developing advanced risk models, strategies and system execution to support automated risk decisioning; implementing appropriate risk assessment and monitoring processes; and ensuring the company operates within approved thresholds.This person will also act as the company’s Chief Anti-Money Laundering Officer and Chief Privacy Officer in the United States.
What you’ll do:
- Overall Risk Management
- Identify, measure, and monitor, credit risks across the US business
- Lead and manage the design, system implementation and ongoing improvement in risk strategies, models, policies and procedures related to the company’s consumer lending guidelines and merchant approval / monitoring process
- Provide timely analytics and reporting of risk strategies and KPIs
- Advise and work with senior leadership to implement appropriate risk controls and training
- Seek ways to optimize risks in the organization as a competitive business advantage
- Coordinate and oversee quality control audits of underwriting
- AML and Fraud Management
- Develop, implement, and monitor US AML and Privacy policies, procedures, and training
- Create strategies that improve KPIs related to fraud management, approval and loss rates
- Lender and Regulatory Management
- Develop, recommend, and manage, all 3rd party credit related vendor relationships and contracts, including credit reporting agencies
- Collaborate with other teams including product and development on implementing risk models and strategies
- Communicate and escalate risk issues to the Chief Risk Officer, related risk committees, the Executive Management team, and when appropriate, the Board of Directors (or committees thereof)
- Lead and oversee the growth and development of the US risk team
- 8+ years of experience working in consumer or small to medium sized enterprise financing, ideally in a point-of-sale lending environment
- 5+ years of experience working in consumer credit risk management
- Strong critical thinking skills
- Bachelor’s degree in Business Administration, Finance or Economics; Master’s degree preferred
- Sound knowledge of credit risk methodologies, measurement, management and monitoring
- Knowledge or experience in consumer and/or merchant fraud risk considered is a plus
- Experience working with merchant onboarding / monitoring is a plus
- Strong vendor management skills (commercial and consumer credit, fraud, decision systems/analytic platforms)
- Strong analytical and quantitative skills with proficiency in analytical methods and model development
- Advanced Excel skills is a must
- Proven ability to balance sound risk management principles with business goals
- Broad financial expertise with knowledge of financial and economic fundamentals, along with business policies, products, processes, systems, and roles
- Sound judgment and ability to maintain confidentiality in critical and sensitive information, records, and reports
- Strong written and verbal communication skills
Winner of Canada’s Most Admired Corporate Culture in 2018, we offer more than just the basics. Take advantage of:
- Competitive pay
- Comprehensive medical, dental and vision coverage
- 401K Contribution matching
- Maternity leave top up program
- Career learning and development programs
If what you just read excites you, we’d like to hear from you! Please submit your application and we’ll contact you if you become selected for a phone interview.