Director, Credit Risk Loss Mitigation

Director of Credit Risk, Loss Mitigation

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.

What You'll Contribute

We are seeking a seasoned banking professional to serve as Director of Credit Risk, specializing in Loss Mitigation within the Second Line of Defense (2LOD), responsible for leading independent oversight and effective challenge over the bank's loss mitigation strategies and operations. This role will focus on ensuring the bank's loss mitigation strategies and operations are aligned with corporate goals, the bank's risk appetite, regulatory expectations, and oversight of pre- and post-default collection efforts, while also contributing to credit loss forecasting and allowance for credit losses (ACL) governance. The ideal candidate will bring deep expertise in credit risk management, credit strategy, and / or collections operations.

What You'll Do

• Provide 2LOD 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 and regulatory requirements.
• Conduct risk assessments and thematic reviews across credit cycle - origination, collections, high-risk portfolios and processes.
• Lead oversight of the Risk Appetite for Loss Mitigation by monitoring and reporting on key risk indicators, 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.
• Stay current on regulatory changes, industry trends, and best practices in credit risk and loss mitigation.

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.

What You Have

Minimum education, skills and experience required.

Preferred education, skills, and experience.

The Americans with Disabilities Act

The Americans with Disabilities Act of 1990 (ADA) 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. A function may be essential for any of several reasons, including : the job exists to perform that function, the employee holding the job was hired for his / her expertise in performing the function, or only a limited number of employees are available to perform that function.

Benefits

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Sallie Mae is proud to be an equal opportunity (EEO) 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 choose option 9. All information you provide will be kept confidential and will be used only to the extent required to provide needed reasonable accommodations.

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