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GENERAL FUNCTION:
The Chief Consumer Credit Risk Officer is responsible for the development, implementation, and leadership of the Consumer Credit Risk department. In keeping with the Bancorp's continuous improvement initiatives around process, the Chief Consumer Risk Officer will evaluate consumer credit delivery processes, including innovations in the digital lending space, administrative activities and portfolio management activities across all lines of business that create or manage consumer credit risk. This role is pivotal in leading the bank further into the Fintech and Digital Lending space through innovation, leveraging a balanced risk management approach. Key duties include partnering with line of business partners to lead implementation of improvements to processes as changes in risk warrant. This senior Bancorp leadership position is a key feedback provider on strategic plans and will help develop tactical execution strategies for sales and customer experience.
Responsible and accountable for risk by openly exchanging ideas and opinions, elevating concerns, and personally following policies and procedures as defined. Accountable for always doing the right thing for customers and colleagues, and ensures that actions and behaviors drive a positive customer experience. While operating within the Bank's risk appetite, achieves results by consistently identifying, assessing, managing, monitoring, and reporting risks of all @types.
ESSENTIAL DUTIES AND RESPONSIBILITIES:
Consistent with the board-approved risk appetite and the enterprise risk framework, the Chief Consumer Credit Officer will:
Establish and guide the bank's customer and lending strategy, credit risk appetite, and risk limits including specific risk categories, products, business units, and lines of business in compliance with credit-related policies, limits, laws, and regulations
Establish and maintain appropriate metrics for measuring and monitoring credit risk results, including the consumer credit portfolio's performance, exceptions, and outlook and trends
Develop timely, accurate, and transparent reporting and forward-looking analysis regarding credit risks, across the institution as well as up to the board and senior management
Prepare and present credit risk performance and forward-looking risk information to the Management, the relevant risk committees, and Regulators
Act as primary contact and conduit for leadership on enterprise consumer credit risk strategies and best practices, industry changes, solution development and impact, and execution plans
Ensure thorough understanding of business, economic, regulatory, and legal issues and their relative impact on credit and other risk @types; and ensure the dissemination of this information in accordance with the expectation of key Bancorp constituents (i.e. regulatory agencies, board of directors, senior management, and auditors)
Manage regulatory and governance stakeholder relationships for regulatory excellence as 2nd line of defense
Mature consumer credit risk capabilities toward target state of competitive advantage
Report and partner with the line of business to develop action plans, when appropriate, when limits are approached or breached.
Serve as a role model for the Bancorp Consumer Credit and Enterprise Risk Management Process
Work in conjunction by challenging the First Line of Defense to develop the market leading strategies designed to improve and drive a consistent customer experience and maximize acquisition and deepening of customer relationships in all channels: physical, virtual and digital.
Partner with Treasury and Consumer Division management to design and implement appropriate consumer portfolio management strategies in keeping with defined and approved risk parameters and metrics.
SUPERVISORY RESPONSIBILITIES:
Develop and manage the Consumer Credit Risk Management staff to ensure optimal performance in meeting risk appetite goals and supporting the Bancorp's strategic objectives. Responsible for providing employees timely, candid and constructive performance feedback, developing employees to their fullest potential and providing challenging opportunities that enhance employee career growth, developing the appropriate talent pool to ensure adequate bench strength and succession planning, and recognizing and rewarding employees for accomplishments.
MINIMUM KNOWLEDGE, SKILLS AND ABILITIES REQUIRED:
Four-year college degree required; graduate degree in business or finance preferred
Minimum 15 years of consumer risk management experience
Solid understanding of credit processes including underwriting, collections, and operations.
Thorough understand of the bank's risk appetite including the ability to fine tune consumer credit practices within the underwriting model accordingly.
Ability to look at models different from traditional banking and tie them into the risk appetite.
Experience operating successfully in a complex, matrixed organization, driving change through influence.
Ability to manage strategic relationships and provide sound risk management guidance to internal and external business partners.
Must possess strong logical/critical thought processes and the ability to articulate that to the line of business.
Proven ability to identify, assess, monitor, and mitigate various risks with creative and collaborative solutions.
Experience in advanced modeling techniques, deep analytics and Artificial Intelligence.
Outstanding communications, organizational, and execution skills.
Must be able to deal directly and effectively with outside service providers and other loan institutions/organizations.
Demonstrated ability to recruit, develop, and retain top talent to the organization to ensure adequate succession planning and bench strength.
WORKING CONDITIONS:
Normal office environment with little exposure to dust, noise, temperature and the like.
Extended viewing of a CRT screen.
Some travel required.
Chief Consumer Credit Risk Officer
At Fifth Third, we understand the importance of recognizing our employees for the role they play in improving the lives of our customers, communities and each other. Our Total Rewards include comprehensive benefits and differentiated compensation offerings to give each employee the opportunity to be their best every day.
The base salary for this position is reflective of the range of salary levels for all roles within this pay grade across the U.S. Individual salaries within this range will vary based on factors such as role, relevant skillset, relevant experience, education and geographic location. In addition to the base salary, this role is eligible to participate in an incentive compensation plan, with any such payment based upon company, line of business and/or individual performance.
Our extensive benefits programs are designed to support the individual needs of our employees and their families, encompassing physical, financial, emotional and social well-being. You can learn more about those programs on our 53.com Careers page at: https://www.53.com/content/fifth-third/en/careers/benefits.html or by consulting with your talent acquisition partner.
LOCATION -- Cincinnati, Ohio 45227
Attention search firms and staffing agencies: do not submit unsolicited resumes for this posting. Fifth Third does not accept resumes from any agency that does not have an active agreement with Fifth Third. Any unsolicited resumes - no matter how they are submitted - will be considered the property of Fifth Third and Fifth Third will not be responsible for any associated fee.
Fifth Third Bank, National Association is proud to have an engaged and inclusive culture and to promote and ensure equal employment opportunity in all employment decisions regardless of race, color, gender, national origin, religion, age, disability, sexual orientation, gender identity, military status, veteran status or any other legally protected status.
