VP, Credit Loss Forecasting

Job Description:

Role Summary/Purpose:

This role is within the Credit Forecasting and Advanced Analytics team. The team has the overall responsibility to forecast Credit losses on the entire Synchrony portfolio of loan receivables for all use cases.

The Credit loss forecasting process is subject to SOX controls and utilizes several models and non-model tools to create forecast for credit losses that is used downstream in calculating quarterly Allowance for credit losses, and is a critical input to Stress testing and Capital planning as well as business planning. This role focusses on overall process and model/ non-model tool governance responsibilities across the entire Credit Loss forecasting process, and will collaborate with colleagues within the team, and across several second line, third line teams, finance controllership and will be actively engage in external audits as well as regulatory reviews. The role also includes advanced credit analytics of portfolio performance and forecast to assess the reasonability of outcomes from model/ non-model tools. This position presents the opportunity to gain multiple critical experiences in advanced credit analytics, technical tools, models and process governance, leading through influence, and communicating to senior management across first, second and third lines, as well as external reviewers.

We prize intellectual curiosity, passion, problem solving skills, effective communication, and empathy, and join those with the Synchrony Values and our own subject matter acumen to deliver well-informed estimates and share our analytic expertise throughout the company.

Our Way of Working

We’re proud to offer you choice and flexibility. At Synchrony, our way of working allows you to have the option to work from home, near one of our Hubs or come into one of our offices. Occasionally you may be required to commute to our nearest office for in person engagement activities such as business or team meetings, training and culture events.

Essential Responsibilities:

• Lead the Loss Forecast Process and Model governance

  • Ensure that all existing standards for process governance are properly applied across all aspects of the process. Evaluate any change in policies and standards for process governance and evaluate gaps. Evaluate any process design changes and their impact on operational risk.

  • Ensure all team members and direct stakeholders are aware about their responsibilities related to process risks and controls. Maintain evidence of all controls being performed as designed and in a timely manner. Perform periodic reviews of control evidence

  • Formulate plans to address governance and control gaps, and implement the remediation in a timely manner

• Responsible for all process and governance requests, including audits and exams, from second line, third line, SOX controllership, external auditors, and regulators, including coordination within and outside the functional area.

• Perform periodic as well as triggered reviews and updates to RAQ and PRCSA as per Enterprise process governance standards and schedules

• Responsible for maintaining up-to-date process documentation including process maps, process risks & controls inventory and descriptions

• Responsible to assess the need for new non-model tools and ensure all tools are rated appropriately based on associated risks, and appropriate controls are established and are executed in a timely manner. maintain an up-to-date inventory of non-models tools used across the team,

• Evaluate reasonability of outcomes from models and non-models tools. Together with the Loss Forecast area leader, prepare a robust review packages of credit loss estimates for reviews with senior leaders across Credit and Finance function

• Perform other ad-hoc analysis to support emerging business needs in related areas

• Lead the issue management analysis and resolution related to models and process (root cause analysis, actions plans, issue and actions tracking and resolution)

• Assist Model owner with model risk management responsibilities including review of model development documents, documentation for model changes. Ensure all model monitoring is performed as per approved ongoing monitoring plans in a timely manner

• Assist the process owner in preparation of quarterly ACL memos, drafting narratives related to credit loss forecasting for the annual Capital plan

• Actively engage with all team members to promote a simplified process design, supported by appropriate automation that is designed for efficiency and mitigation of operational risk

Qualifications/Requirements:

• Bachelor’s degree in a quantitative field of study (i.e., Accounting, Business, Economics, Finance, Mathematics, Statistics, Engineering, Decision sciences/ Analytics, Risk Management) and 10+ years of experience in Credit, Risk or Collections in Consumer Finance or other relevant professional experience; or in lieu of a degree, 15+ years of experience in Credit, Risk or Collections in Consumer Finance or other relevant professional experience.

• 4+ years of experience in roles that included responsibilities for process risk management, operational risk management, model risk management within a Consumer lending business, that required frequent interactions with enterprise level governance teams, internal and external auditors

• 3+ years of experience in predictive modeling/estimation or in analyzing outcomes from such techniques, in areas such as Credit Loss forecasting, Credit Reserves, Stress testing in a Consumer lending business with a focus on revolving line credit

• Advanced EXCEL skills with demonstrable familiarity with data processing/report building/analysis techniques

• Strong PowerPoint skills, including ability to create understandable presentations that incorporate graphs or other visual aides to portray complex subjects

Desired Characteristics:

• Overall understanding of consumer credit lending that stretches across revenue and loss line items, with a focus on revolving products (Credit Cards preferred)

• Robust understanding of US economic environment, common macro-economic indicators and correlations to consumer credit performance

• Ability to manage multiple competing initiatives and deliver results in a timely manner and with a focus on accuracy and attention to detail

• Experience with processes that have significant financial impacts and stretch across multiple teams or functions

• Strong written and verbal communication skills, to independently present explanations of complex subjects

• Prior experience with Regulatory interactions and reviews

• Experience in performing performance analysis on large and diverse consumer credit portfolios, including experience with data visualization tools to create and communicate intuitive visualizations and presentations of in-depth analysis to audiences of varying subject-matter knowledge, experience, and seniority

• Experience utilizing SAS or SQL as well as open-source tools such as Python, PySpark, to extract, process and analyze data

Grade/Level: 13

The salary range for this position is 155,000.00 - 260,000.00 USD Annual and is eligible for an annual bonus based on individual and company performance.

Actual compensation offered within the posted salary range will be based upon work experience, skill level or knowledge.

Salaries are adjusted according to market in CA, NY Metro and Seattle.

Eligibility Requirements:

• You must be 18 years or older

• You must have a high school diploma or equivalent

• You must be willing to take a drug test, submit to a background investigation and submit fingerprints as part of the onboarding process

• You must be able to satisfy the requirements of Section 19 of the Federal Deposit Insurance Act.

• New hires (Level 4-7) must have 9 months of continuous service with the company before they are eligible to post on other roles.  Once this new hire time in position requirement is met, the associate will have a minimum 6 months’ time in position before they can post for future non-exempt roles.  Employees, level 8 or greater, must have at least 18 months’ time in position before they can post.  All internal employees must consistently meet performance expectations and have approval from your manager to post (or the approval of your manager and HR if you don’t meet the time in position or performance expectations).

Legal authorization to work in the U.S. is required.  We will not sponsor individuals for employment visas, now or in the future, for this job opening. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or veteran status. 

Our Commitment:

When you join us, you’ll be part of a diverse, inclusive culture where your skills, experience, and voice are not only heard—but valued. We celebrate the differences in all of us and believe that our individual, unique perspectives is what makes Synchrony truly a great place to work. Together, we’re building a future where we can all belong, connect and turn ideals into action. Through the power of our 8 Diversity Networks+, with more than 60% of our workforce engaged, you’ll find community to connect with an opportunity to go beyond your passions.

This starts when you choose to apply for a role at Synchrony. We ensure all qualified applicants will receive consideration for employment without regard to age, race, color, religion, gender, sexual orientation, gender identity, national origin, disability, or veteran status.

Reasonable Accommodation Notice:

• Federal law requires employers to provide reasonable accommodation to qualified individuals with disabilities. Please tell us if you require a reasonable accommodation to apply for a job or to perform your job. Examples of reasonable accommodation include making a change to the application process or work procedures, providing documents in an alternate format, using a sign language interpreter, or using specialized equipment.

• If you need special accommodations, please call our Career Support Line so that we can discuss your specific situation. We can be reached at 1-866-301-5627.   Representatives are available from 8am – 5pm Monday to Friday, Central Standard Time

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