Consumer Credit Policy provides oversight of the credit risk undertaken through the consumer lending business activity. The objective for the group includes ensuring a culture of responsible lending in support of SunTrust purpose of lighting the way to financial well-being. This is achieved through setting disciplined credit policy, standards, tools and methodologies used in making lending decisions for products such as: Mortgage, Home Equity Lines and Loans, Auto Finance Loans, Student Loans, Consumer Credit Cards, Business Credit Cards, Personal Loans Unsecured and Personal Loans Secured.
The policy team is responsible for setting credit risk limits, evaluating and approving limit exceptions, monitoring adherence to policies and standards, providing credit risk expertise, subject matter knowledge and credible challenge across the business segments. With our culture of transparency the group ensures there is accurate and timely reporting and analysis of portfolio performance with appropriate review and communication of emerging risks, issues, trends through consumer credit working group, asset quality meetings and appropriate escalation to credit and risk committees as warranted.
Consumer Credit Policy partners with Enterprise Risk Delivery, Modeling, Portfolio Management, Business Segments and Analytic teams to provide leadership and guidance to business segments on risks taken vs. returns earned. Other functions include partnering with default management teams and finance segment in understanding monthly, quarterly credit performance, reviewing and providing insights beyond what models capture during budget setting, forecast updates and quarterly allowance process.
This position will be focused specifically on residential (Mortgage, Home Equity) credit policy, credit limits and oversight. Responsibilities and activities include:
· Ownership, and maintenance of residential segment credit policies
· Reviews proposals for policy changes to existing policy, new product, channels, purchases or geographic expansions and evaluates proposals for thorough financial impacts to the business and credit loss processes (forecast, allowance) and determines if changes is within defined risk appetite tolerances
· This person will derive analytic methodology and perform analyses for variety of purposes including: thru the cycle risk performance, determining statistical risk segments and understanding layered risk, credit loss forecasting, emerging risk analyses, trends, modeling methodology to set residential credit policy limits and tolerances for purposes of defining and adhering credit risk appetite
· Establish the right credit early warning and credit policy limits in keeping within defined product level credit risk appetite, to manage credit costs (NCO & ALLL) through the cycle and derive limits/tolerances and levers to be pulled at different points in the economic cycle to manage credit risk within appropriate asset quality tolerances.
· Using the fact-based data driven analyses from the above and working with risk peers (delivery, modeling, enterprise risk services) document a credit policy playbook
· Act as key point of contact on behalf of credit policy to the residential delivery, segment and default teams on emerging or detecting credit risk issues and ensuring appropriate root cause and resolution/action plans are put in place.
· This role will be a key in working with delivery peers in the designs of analysis to align oversight of go to market strategies and find synergies across segments and products (PWM, Mortgage, Home Equity) to manage credit and residential collateral risk.
· Owns and maintains policy documents and ensures that key limits and thresholds in policies are supported with analytic rigor
· Researches best practices across consumer products and industry
· Influences complex analysis and leverages to inform credit policy derivation and set limitsQualifications
· Bachelor’s degree in a relevant field such as Statistics, Economics, Engineering, Mathematics, or Finance and 10+ years of work experience in applicable quantitative analysis, or an equivalent combination of degree and experience.
· Strong quantitative, finance, and governance background
· Prior residential credit strategy/lending experience
· Graduate degree in Finance, Mathematics, Economics or similar discipline
· Proficiency in consumer regulations, fair lending and compliance
· Prior experience in analysis using SAS
· 10+ years of relevant work experience (auto or credit card credit strategy experience a plus
· Can handle projects independently with a minimum of oversight and supervision
· Effective communication skills, as the incumbent will take the lead in creating power point presentations to communicate fact based recommendations leveraging analytic results on residential credit risk trends which will be subject to detailed internal and external review, and would likely be called upon to make presentations to management and credit committees.
Equal Opportunity Employer: SunTrust supports a diverse workforce and is a Drug Testing and Equal Opportunity Employer. SunTrust does not discriminate against individuals on the basis of race, creed, color, gender, religion, national originTo review the EEO Poster, copy and paste the following link into your browser: http://www1.eeoc.gov/employers/upload/eeoc_self_print_poster.pdf http://www.dol.gov/ofccp/regs/compliance/posters/pdf/OFCCP_EEO_Supplement_Final_JRF_QA_508c.pdf