Vice President - International Consumer Business - Credit Strategy – Consumer Revolving Product New Business

JP Morgan

Location: Greater London

Job Type: Full time

Last updated

The most difficult thing is the decision to act, the rest is merely tenacity.
- Amelia Earhart

JPMorgan Chase is investing in a digital transformation strategy, exploring innovative ways to attract customers, deepen customer engagement and achieve increased customer satisfaction through efficient and thoughtful interactions with digital products and experiences. We continue to strive toward transforming customer experiences, simplifying business processes whilst remaining laser focused on product excellence.

Our Firm Wide Risk Function

Our Firmwide Risk function is focused on cultivating a stronger, unified culture that embraces a sense of personal accountability for developing the highest corporate standards in governance and controls across the firm. Business priorities are built around the need to strengthen and guard the firm from the many risks we face, financial rigor, risk discipline, fostering a transparent culture and doing the right thing in every situation. We are equally focused on nurturing talent, respecting the diverse experiences that our team of Risk professionals bring and embracing an inclusive environment.

The International Consumer Business (ICB) Credit Strategy function is responsible for managing credit losses and credit exposure through the customer lifecycle, in line with risk appetite, across all ICB borrowing products. The team is expanding as we gear up to launch our first ICB Borrowing product; with work continuing at pace thereafter, with new products, features, channels, markets and customer segments being launched.

This exciting and critical position will lead a team of risk management professionals to drive the credit strategy and capabilities across all credit granting related interactions (new business, cross sell and credit limit increases) for revolving borrowing products in the UK, ensuring robust credit controls are in place; while at the same time providing credit strategy oversight as part of ICB local market expansion plans.

The successful candidate will work in a highly dynamic and exciting environment and will have the opportunity to shape credit strategies and policies for ICB products and services. This is an influential role working closely with colleagues in other Risk Management teams, Product, Marketing, Finance, Operations, Legal, Compliance, Core Banking and Technology to create world class credit strategies and capabilities.

The successful candidate will report into the lead for Credit Strategy; who reports into the Credit Officer for ICB who oversees the ICB Credit Risk organisation. The ICB Credit Risk team is structured under three core functions; one function being Credit Strategy; the other two functions covering Portfolio Management and Oversight & Assurance Team.

This an excellent opportunity for an individual who thrives in a fast-paced and team-oriented environment where strong analytical skills, business acumen, and excellent communication skills are required.

Key Responsibilities:

  • Responsible for all credit granting decisions (new applications, credit limit increase and cross-sell) for consumer revolving products from a credit risk perspective - this includes analytics, strategy, and capabilities, across creditworthiness, indebtedness and affordability decisions
  • Partner with 1LOD product owners to support new customer acquisition and existing customer profitable growth; including pre-approval with affiliate partners, and usage of new data, such as Open Banking, Internal Chase relationship data, CRA data, to drive incremental approvals
  • Understand cross functional dependencies between 1LOD product owners and Credit Strategy to support and challenge product development in line with risk appetite, FCA responsible lending and consumer duty
  • Ensure control, compliance, and operational risk mitigation in all credit strategy processes and partner with 1LOD to ensure platforms, products and services are seamlessly integrated into delivering effective execution of credit strategy decisions; being able to articulate the impact of risks and issues on the business function if they are not
  • Drive deep-dive analytics on credit strategy effectiveness and partner with the Modelling team to enhance economic logic that supports core risk management decisions
  • Actively participate at Credit Forum and Risk Committees as required by ICB and Firmwide Governance and Risk Management Framework; plus regulatory updates
  • Ensure all credit strategy implementation is assessed and delivered according to relevant Change Governance, and that requirements are collated, documented and well understood by all delivery partners, including ways to monitor the new process to ensure they work as intended
  • Work with data platform teams to ensure availability of key data to support credit strategy evaluation, optimisation and process management
  • Lead, engage, and inspire a team of high performing risk management professionals

Qualifications:

  • Deep expertise in credit risk management at financial service company, preferably with knowledge of consumer lending or risk capabilities
  • Experience leading teams responsible for analytics, strategy implementation and process management
  • Strong analytical skills and an innovative approach to solving both practical and theoretical problems
  • Intellectual curiosity, adaptability in a dynamic environment, and ability to reinvent processes and infrastructure relevant to a digital platform and digital consumer
  • Ability to build strong working relationships, operate across cross-functional teams, and influence colleagues to lead change
  • Ability to communicate and interact effectively with all levels in the organisation as well as with external partners
  • Proficient with data analytics tools, such as R, Python, Java, C , SQL, HQL/Hive, or SAS
  • Enthusiastic, self-driven individual with proactive approach to learning, identifying emerging industry trends, and generating innovative solutions
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