OneMain Financial is seeking a VP/MD Credit Loss Forecasting to lead credit risk management processes. In this role, you will have the opportunity to work with cutting-edge CECL models for a variety of products, including Personal Loan, Auto Finance, and Credit Card. You'll lead a talented team, driving innovation and excellence in credit risk modeling and forecasting. The VP/MD Credit Loss Forecasting plays a crucial role in shaping our company's success. If you're passionate about making a difference and thrive in a collaborative environment, we encourage you to apply and be part of our exciting journey!
Location: Wilmington, DE. This position is hybrid and requires 3 days in the office (Tuesday- Thursday).
Responsibilities:
Lead the development, enhancement, execution, governance, and communication of loan loss reserve allowance (CECL) model for multiple products including Personal Loan, Auto Finance, and Credit Card
Oversee quarterly loan loss reserve setting process for OneMain products including:
Execution of existing models including macroeconomic overlays
Communication of results to CECL committee
Development of challenger models
Execution of SOX controls including obtaining annual model governance approvals
Manage the production of monthly delinquency and credit loss forecasts for OneMain products including Personal Loan, Auto Finance, and Credit Card
Drive ongoing enhancements to modeling techniques of existing models which include vintage models, roll rate models, and probability of default (PD)/exposure at default (EAD)/loss given default (LGD) based models.
Communicate loss forecast updates to product owners and finance partners detailing variance analysis and drivers of change to outlooks
Manage development of portfolio credit analysis monitoring credit loss and delinquency trends and report key findings to executive team
Monitor external data including key economic factors that may influence credit performance
Qualifications
A minimum of 10+ years of experience in consumer lending, with a focus on credit risk modeling and forecasting; Master’s or PHD degrees preferred or an equivalent combination of experience and education.
5+ years of analytics leadership experience, building and prioritizing teams and objectives based on company strategy
Advanced analytical and quantitative skills with experience in model development and validation and using tools such as SQL, SAS, or Python
Deep understanding of CECL accounting requirements, including modeling methods and regulatory expectations.
Excellent verbal, presentation and communication skills with the ability to translate complex data into executive level presentations and communications to senior leadership.
Ability to navigate through matrixed teams and manage expectations of multiple stakeholders.
Demonstrated ability to lead and develop a team, fostering career progression and professional growth.
Who we Are
OneMain Financial (NYSE: OMF) is the leader in offering nonprime customers responsible access to credit and is dedicated to improving the financial well-being of hardworking Americans. Since 1912, we’ve looked beyond credit scores to help people get the money they need today and reach their goals for tomorrow. Our growing suite of personal loans, credit cards and other products help people borrow better and work toward a brighter future.
Driven collaborators and innovators, our team thrives on transformative digital thinking, customer-first energy and flexible work arrangements that grow lives, careers and our company. At every level, we’re committed to an inclusive culture, career development and impacting the communities where we live and work. Getting people to a better place has made us a better company for over a century. There’s never been a better time to shine with OneMain.
Because team members at their best means OneMain at our best, we provide opportunities and benefits that make their health and careers a priority. That’s why we’ve packed our comprehensive benefits package for full- and some part-timers with:
Health and wellbeing options including medical, prescription, dental, vision, hearing, accident, hospital indemnity, and life insurances
Up to 4% matching 401(k)
Employee Stock Purchase Plan (10% share discount)
Tuition reimbursement
Paid time off (15 days’ vacation per year, plus 2 personal days, prorated based on start date)
Paid sick leave as determined by state or local ordinance, prorated based on start date
Paid holidays (7 days per year, based on start date)
