Director, Credit Risk Loss Mitigation

Join Sallie Mae

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 studentsand 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 youfrom 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 (e.g., OCC, FRB, CFPB). 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 (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. Stay current on regulatory changes, industry trends, and best practices in credit risk and loss mitigation.

What You Have

Minimum education, skills and experience required. Bachelor's degree in Finance, Economics, Business, or a related field; advanced degree or certifications 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 loans, mortgages, credit cards, small business). Experience with credit loss forecasting and allowance for credit losses (CECL). Self-starter, with 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 Preferred education, skills, and experience. Experience with credit models or risk governance frameworks, risk appetite statements, and issue management.

Our Benefits

Competitive base salaries + Bonus incentives + Generous PTO, Floating Holidays and 12 Federal Holidays observed + Support for financial-well-being and retirement 401k with employer match + Comprehensive medical, dental, vision, hospital indemnity, critical illness, pet insurance and more + Employer paid short-term / long-term disability and basic life insurance + Flexible hybrid working arrangements. + Paid parental leave and adoption reimbursement programs + Free access to on-site staffed 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