Key Responsibilities:
- Strategic Leadership: Develop and execute comprehensive litigation recovery strategies for credit card accounts, ensuring alignment with the organization's overall risk management framework and business objectives.
- Litigation Management: Oversee the litigation process for recovery efforts, working closely with legal teams to ensure effective case management and successful recovery outcomes.
- Risk Assessment: Conduct thorough risk assessments to identify potential threats and vulnerabilities in litigation recovery processes. Implement measures to mitigate identified risks and enhance the effectiveness of recovery efforts.
- Policy Development: Establish and maintain policies and procedures related to litigation recovery risk management, ensuring compliance with regulatory requirements and industry best practices.
- Performance Monitoring: Monitor and analyze key performance indicators (KPIs) related to litigation recovery activities. Provide regular reports and insights to senior management, highlighting trends, risks, and opportunities for improvement.
- Team Leadership: Lead and mentor a team of risk management professionals, fostering a culture of continuous improvement and professional development. Encourage collaboration and innovation within the team to drive successful outcomes.
- Stakeholder Collaboration: Collaborate with cross-functional teams, including legal, compliance, finance, and operations, to ensure a holistic approach to litigation recovery strategies and risk management.
- Technology Integration: Leverage advanced analytics and technology solutions to enhance risk assessment and litigation recovery processes. Stay informed about emerging technologies and trends in the financial services industry.
- Regulatory Compliance: Ensure all litigation recovery activities comply with relevant laws and regulations. Stay updated on changes in regulatory requirements and adjust strategies accordingly.
Required Qualifications, Capabilities, and Skills:
- Understanding of the account lifecycle (e.g., underwriting, portfolio management, collections) to identify relevant risk considerations.
- Detailed understanding of key performance metrics and profitability drivers, enabling the delivery of insights encompassing the full account lifecycle.
- Bachelor's degree or equivalent experience required.
- Experience in credit risk management at a financial services company, with a focus on litigation and recovery.
- Solid functional knowledge, including but not limited to credit risk strategy, business development, product development, project management, etc.
- Understanding of cross-functional dependencies between the First Line of Defense, product owners, and Credit Strategy to support and provide effective challenge in accordance with risk appetite.
- Ability to articulate the impact of risks and issues on the business function.
- Excellent written and verbal communication skills with the ability to influence business leaders in a meaningful and actionable manner.
- Proficient in Microsoft Office Suite (Word, Excel, PowerPoint, Visio); ability to translate business/functional problems into a conceptual analytical and automation technical architecture.
- SAS or equivalent data mining expertise.
Preferred Qualifications, Capabilities, and Skills:
- 12+ years of financial services experience in risk management, controls, audit, quality assurance, risk management, or compliance preferred.
- Bachelor's degree in Finance, Business Administration, Risk Management, Law, or a related field. A Master's degree or professional certification (e.g., CFA, FRM, JD) is preferred.
- Extensive experience in risk management, with a focus on recovery within the financial services industry.
- Proven track record of developing and implementing successful litigation recovery strategies.
- Strong analytical skills and the ability to interpret complex data to make informed decisions.
- Excellent leadership and team management abilities.
- Exceptional communication and interpersonal skills, with the ability to influence and collaborate with stakeholders at all levels.
- In-depth knowledge of regulatory requirements and industry best practices related to litigation recovery operations.