Director, Credit Risk - Loss Mitigation and Portfolio; Second Line of Defense

Locations

• Arlington, VA
• Dulles‑Sterling, VA
• New York, NY
• Newark, DE

We are seeking an experienced credit expert to serve as the Director, Credit Risk – Loss Mitigation within the Second Line of Defense (2

LOD) in the bank’s Risk Organization. The ideal candidate will provide independent oversight and challenge to ensure the bank’s loss mitigation strategies are resilient, data‑driven, and aligned with regulatory expectations and business goals.

• Provide 2
  
  LOD independent oversight of the bank’s loss mitigation activities, including collections, charge‑offs, recoveries, and payment programs.
• Evaluate the effectiveness of first‑line controls and ensure adherence to internal policies.
• Conduct credit risk assessments and thematic reviews for collections operations, collection strategy, and portfolio review.
• Lead oversight of the Risk Appetite for Loss Mitigation by monitoring and reporting on key risk indicators (KRIs), emerging risks, and trends in delinquency and default management.
• Deliver independent oversight and effective challenge to business line strategies, risk assessments, and control frameworks.
• Support governance and validation of Allowance for Credit Losses (ACL) methodologies and assumptions.
• Collaborate with Compliance, Internal Audit, and Operational Risk to ensure comprehensive risk coverage.
• Prepare and present risk reports to senior management, risk committees, and regulatory bodies.
• Drive adoption of advanced analytics and reporting tools to enhance risk identification, monitoring, and reporting.
• Mentor and develop future risk leaders within the organization.

• Bachelor’s degree in Finance, Economics, Business, or a related field; advanced degree or certifications (CRC, FRM, CFA) preferred.
• Minimum 7+ years of experience in first or second line credit management within the financial services industry, with a strong focus on loss mitigation and collections.
• Demonstrated experience and strong understanding of lines of defense responsibilities and risk governance frameworks.
• In‑depth knowledge of consumer and/or commercial lending products (e.g., student loans, mortgages, credit cards, small business).
• Experience with credit loss forecasting and allowance for credit losses (CECL).
• Proven ability to challenge constructively and influence cross‑functional stakeholders.
• Strong understanding of U.S. banking regulations and supervisory expectations.
• Exceptional analytical, communication, problem‑solving, and stakeholder management skills, with the ability to think strategically and make informed decisions.
• Proficiency in analytics, using Python, SAS, SQL, and Microsoft Office Suite.
• Proven ability to communicate complex analytics to executive audiences.
• Strong interpersonal skills and ability to influence across functions.

• Experience with credit models or risk governance frameworks, risk appetite statements, and issue management.
• Experience with segmentation strategy, vendor management, and regulatory exam support.
• Familiarity with advanced analytics platforms (SAS, SQL, Tableau, Power BI).

• Competitive base salaries
• Bonus incentives
• Generous PTO, floating holidays, and 12 federal holidays observed
• 401(k) with employer match
• Comprehensive medical, dental, vision, hospital indemnity, and critical illness coverage
• Pet insurance and other supplemental coverage
• Employer‑paid short‑term and long‑term disability and basic life insurance
• Flexible hybrid working arrangements
• Paid parental leave and adoption reimbursement programs
• Access to on‑site fitness centers (in Delaware) and gym subsidy for locations outside Delaware
• Confidential counseling support (EAP), health advocacy services, and wellness program with financial incentives
• Tuition reimbursement and family scholarship programs
• Career development and training opportunities

The Americans with Disabilities Act of 1990 prohibits discrimination by employers in compensation and employment opportunities against qualified individuals with disabilities who, with or without reasonable accommodation, can perform the "essential functions" of a job.

Sallie Mae is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, gender, sexual orientation, national origin, age, genetic information, gender identity, disability, veteran status, or any other characteristic protected by federal, state, or local law.

Reasonable accommodations are available for applicants with disabilities in all phases of the application and employment process. To request an accommodation, please call (855)756‑2007 and select option 9. All information provided will be kept confidential and used only to the extent required to provide necessary accommodations.