VP Credit Risk Oversight

Merrick Bank • South Jordan, UT

3d • Hybrid

About The Position

The Vice President, Credit Risk Oversight is a senior member of Merrick Bank’s second line of defense, responsible for providing independent, data-informed oversight of credit risk strategies across the Bank’s non-prime consumer portfolios. This position offers hybrid and remote work arrangements for qualified candidates. Reporting to the SVP & Chief Credit Officer, this position acts as a strategic challenger and translator, connecting first-line analytics and business execution to the Bank’s risk appetite, governance expectations, and performance outcomes. This is a judgment-heavy, forward-looking oversight role, not an assurance or control testing function. It focuses on the reasonableness, directionality, and traceability of first-line strategies and forecasts.

Requirements

• Bachelor’s degree in Business, Economics, Statistics, Engineering, or related quantitative discipline is required, Master’s degree (MBA, Economics, Statistics, or related field) is preferred.
• Ten (10) years’ experience in consumer credit risk management or strategy, with deep expertise in non-prime and subprime lending.
• Proven experience in evaluating or developing credit strategies, including acquisition, line management, and collections.
• Strong understanding of credit card economics, portfolio forecasting, and credit mitigation dynamics.
• Knowledge of risk appetite frameworks, second-line oversight, and regulatory expectations (FDIC, CFPB, OCC).
• Ability to synthesize analytics and operational trends into clear strategic implications.
• Excellent communication and relationship-building skills, with the ability to challenge constructively and influence senior management decisions.
• Deep understanding of credit and fraud drivers across the customer lifecycle.
• Demonstrated ability to form independent perspectives using quantitative analysis and sound business judgment.
• Skilled at connecting model, portfolio, and macro performance into a coherent risk story.
• Confident communicator capable of representing second-line views to senior management and regulators.
• Collaborative and pragmatic, focused on enabling sound growth within disciplined risk boundaries.

Nice To Haves

• Master’s degree (MBA, Economics, Statistics, or related field) is preferred.

Responsibilities

• Independent Strategy Oversight Provides independent assessment of credit and portfolio strategies for consistency with the Bank’s risk appetite, policy frameworks, and regulatory expectations.
• Evaluates credit and fraud proposals (acquisition, CLI, collections changes etc.) for risk/reward balance, directional impact, and customer fairness.
• Reviews the use of credit rules, and segmentation approaches, to ensure conceptual soundness, data integrity, and adherence to approved frameworks.
• Represents second-line perspectives in governance forums, bringing a clear, data-anchored risk lens to decision discussions.
• Partners early in the decision cycle to influence design choices while maintaining independent judgment and documented challenge.
• Credit Monitoring & Analytics Monitors portfolio performance trends, delinquency, losses, and credit dynamics to independently assess the sustainability of first-line strategies.
• Evaluates forecast reasonableness, assessing sensitivity to macroeconomic assumptions, and alignment to risk appetite and capital plans.
• Contributes to Risk Appetite Framework development and maintenance, ensuring directional KRIs/KPIs (e.g., NCL rate, delinquency, concentration limit, forecast variance) remain credible and connected to portfolio actions.
• Supports Credit and Enterprise Risk in translating strategy and forecasting outcomes into Board-level and regulatory risk narratives.
• Governance, Documentation & Traceability Maintains a formal challenge log documenting material decisions, oversight input, and management responses.
• Prepares Credit Risk Committee materials summarizing independent views on portfolio health and emerging risks.
• Supports regulatory and audit reviews by demonstrating traceable linkage between strategy oversight, governance records, and risk-appetite outcomes.
• Culture, Collaboration & Influence Fosters a constructive challenge culture that emphasizes sound decisions over process formality.
• Builds strong relationships with Lending First Line, Finance, and ERM partners to ensure oversight is both credible and collaborative.
• Benchmarks Merrick’s practices against industry norms and evolving regulatory expectations for non-prime and subprime risk management.
• Compliance with Laws & Regulations: Responsible for developing, documenting, communicating, maintaining, and enforcing effective control system policies and procedures within your area of oversight.
• Responsible to act in a timely manner to update policies and procedures when changes in operating conditions occur and / or breakdowns or noncompliance with laws and regulations appear.
• Responsible for complying with all of the Bank’s internal control policies and procedures.
• Responsible for understanding and complying with all laws and regulations to which the Bank is subject.
• Responsible for communicating problems in operations, noncompliance with the code of conduct, noncompliance with laws and regulations, policy violations, or illegal acts.

Benefits

• Competitive Pay , including a Bonus Target or Variable Pay Incentive Program
• Benefits Package -Medical, Dental, and Vision (plus much more)
• 401(k) Plan with Company Match
• Short- & Long-Term Disability
• Wellness Programs
• Group Life and AD&D Insurance
• Paid Vacation, Sick Days and bank Holidays
• Employee Engagement Activities including Employee Appreciation Day, DEI Employee Resource Groups, Corporate Social Responsibility, Service Recognition

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level