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

When you join Sallie Mae, you become a champion for all students.

We’re on a mission to power confidence as students begin their unique journey. To help them plan their higher education, successfully finish, and prepare for life after school. To help them Start smart. Learn big.

Students need guidance navigating this important time in their life. They need someone who acknowledges that their education path is unique. They need a partner willing to evolve and not only meet but surpass their expectations. We’re changing. Because students need a better way.

We’re looking for people who are excited to drive this transformation. To break barriers and think of new ways to adapt, help, and create better experiences for students—and for each other.

This is where diverse backgrounds, beliefs, and perspectives matter. It’s where you’re empowered to bring your authentic self to work.

Feeling your best allows you to do your best. Our benefits take care of the whole you—from physical and mental to financial and professional. You’ll get opportunities to further your education and career, support for you and your family (including your pets!), paid time off to volunteer for the things that matter to you, and more.

We’re obsessed with impact and making a real difference. For us, that means putting relationships first, asking “why not?” when tackling challenges, and continuously learning new skills.

Come do more than join something, change something. For students, for future generations, for the future of education.

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

LOD) within the banks Risk Organization. This role plays a critical role in influencing innovation in loss mitigation for the bank. The Director will provide independent oversight and effective challenge to ensure the bank’s strategies are resilient, data-driven, and aligned with evolving regulatory expectations and business goals. You will lead efforts to enhance portfolio quality, support loss mitigation strategy, and strengthen governance across the credit life cycle.

• 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.

The above information is intended to describe the general nature and level of work performed by employees assigned to this job; it is not designed to contain or be interpreted as a comprehensive inventory of all duties, responsibilities and qualifications required of employees in this role.

Minimum education, skills and experience required.

• 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 line 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…