Retail Credit Job Description
Retail credit
provides systems to apply finance charges to past due accounts as permitted by local, state and federal laws.
Retail Credit Duties & Responsibilities
To write an effective retail credit job description, begin by listing detailed duties, responsibilities and expectations. We have included retail credit job description templates that you can modify and use.
Sample responsibilities for this position include:
Work with our Retail Marketing team to develop new and exciting retail specific initiatives
Track and analyze the success of seasonal programs
Help ensure that compliance standards are met by stores when activating marketing programs
Provide assistance to key players in the US Retail Activation team, as needed
Analyse stress test scenarios, and generate and analyse retail credit stress test results (forecast loan losses, risk weighted assets)
Consider actual vs
Analyze, develop conclusions and prepare recommendations to present to management
Assess new methodologies to capture retail credit risk exposure
Stay up-to-date on ongoing regulatory changes and expectations that materialize and the impact of these changes on the Enterprise’s stress testing process
Assist in Product Management for the Premium Rewards Segment which includes support around strategy, forecasting, product features and development, promotion, pricing and process enhancements for revenue optimization
Retail Credit Qualifications
Qualifications for a job description may include education, certification, and experience.
Licensing or Certifications for Retail Credit
List any licenses or certifications required by the position: PMP, CBAP, SAS
Education for Retail Credit
Typically a job would require a certain level of education.
Employers hiring for the retail credit job most commonly would prefer for their future employee to have a relevant degree such as Bachelor's and Master's Degree in Business, Finance, Economics, Accounting, Statistics, Mathematics, Education, Engineering, MBA, Graduate
Skills for Retail Credit
Desired skills for retail credit include:
ACTion
360 View
BakerHill
LaserPro
Loan documentation
Local
State and federal regulatory requirements
Lien perfection
Outlook
Collateral evaluation
Desired experience for retail credit includes:
Strong retail math skills and analytical ability
Be a TDBG retail credit stress test “subject matter expert” with detailed understanding of TDBG Canadian and US retail credit product features, relevant credit risk drivers and sensitivities to changing macroeconomic conditions of the loan losses and capital held for the Bank's retail lending product portfolios
Ensure that the Bank remains compliant with the regulatory requirements for assessing retail loan loss and capital requirements using the Basel IRB approach under various stressed macroeconomic scenarios
Participate in and perform various annual stress tests – Bank's internal Enterprise-Wide Stress Test (EWST), OSFI's macroeconomic stress test (MST) and OCC Dodd-Frank Act Stress Test (DFAST)
Provide value added advice and support to senior management and business partners related to and stress testing activities
Provide leadership and guide modeling analysts and co-op associates on macroeconomic sensitivity model development
Retail Credit Examples
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Retail Credit Job Description
Job Description Example
Our company is growing rapidly and is searching for experienced candidates for the position of retail credit. If you are looking for an exciting place to work, please take a look at the list of qualifications below.
Responsibilities for retail credit
- Working with Senior Manager, Premium Reward Card Products responsible for product planning, setting growth objectives and managing KPI’s
- Prepare and analyze monthly cardholder financial statistics including identification of business trends and variances
- Support development of business cases for new initiatives
- Work with Senior Manager, Premium Rewards Cards to develop strategies, business reviews and annual plans for Premium Rewards card segments
- Recommend additional reporting and analysis to drive strategies and business growth
- Maintain and foster relationships with business partners including Private Banking
- Hold a credit delegation and approve deals outside of credit analysts delegations managing deal escalations
- Responsible for research required for credit decisions
- Optimize profitability of the Credit Cards, Personal Lending and Auto Finance portfolio through the design, implementation and monitoring of effective risk strategies and policies across origination and account management activities
- Support the business targets for profitable growth while ensuring appropriate risk mitigation strategies are in place to maintain overall portfolio
Qualifications for retail credit
- Proven leadership, decision making and judgement skills
- Strong verbal and written communication skills to report complex outputs and findings in a concise and comprehensive manner
- Hold a degree in Commerce / Business (preferably with majors in banking/finance)
- SAS literacy
- Experience on credit decision engine / scorecards will be considered a plus
- Experience on lending via digital channels will be considered a plus
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Retail Credit Job Description
Job Description Example
Our company is growing rapidly and is looking to fill the role of retail credit. To join our growing team, please review the list of responsibilities and qualifications.
Responsibilities for retail credit
- Developing, managing and executing a risk-based review plan covering consumer line(s) of businesses both portfolio and transactional level testing
- Assessing the accuracy of overall portfolio asset quality
- Identifying emerging trends and issues
- Identifying gaps in credit policy
- Aggregation and tracking of identified issues to resolution
- Communication of Credit Review assurance results with exceptional verbal and written communication skills, demonstrating strong clear thinking and succinct delivery of message
- Report results and issues verbally and in writing to executive management and internal credit and risk senior executives
- As a team lead, perform managerial activities including review and approval of assurance work, management/tracking of issue remediation, credit reviewer productivity management and preparation/consolidation of month and quarter-end reporting
- Work with bank regulators and external auditors to provide assurance that Retail Credit Review processes are sound
- Build and maintain high trust relationships with senior credit risk management, senior lending associates, and regulators
Qualifications for retail credit
- Demonstrated record of academic and extracurricular achievement
- Strong quantitative and analytical skills with a degree in a quantitative discipline (Statistics, Mathematics, Applied Mathematics, Engineering, etc)
- Experience in retail credit risk analytics including 3+ years of retail strategy and/or credit policy development, experience in Credit Card or Unsecured consumer loan industry preferred
- Prior adjudication and/or underwriting experience is required for this position
- Completion of post-secondary education in Computer Science or similar field
- Successful completion or enrolment in the International Institute of Business Analysis (IIBA®) Certified Business Analysis Professional (CBAP®) or Certification of Competency in Business Analysis' (CCBA®) certification is desirable
3
Retail Credit Job Description
Job Description Example
Our innovative and growing company is looking to fill the role of retail credit. If you are looking for an exciting place to work, please take a look at the list of qualifications below.
Responsibilities for retail credit
- Ability to provide business leadership and partnering skills to help drive the organization towards critical decisions and deliverable results
- Ongoing coaching and development of a team of direct reports
- Risk Appetite Statement, Updates and Quarterly Reporting for Non-Retail Credit Risk
- AIRB (Advanced Internal Risk Based) Ongoing Compliance for Non-Retail Credit Risk
- Enterprise Road to Strong
- Process and Strategic RCSA (Risk and Control Self Assessment) for Non-Retail Credit Risk
- Act as a subject matter expert on model performance testing for Borrower Risk Rating (BRR), Facility Risk Rating (FRR) and Expected Loss Rating (EL) models
- Act as subject matter expert and support the timely resolution with business partners for all model-related enquiries
- Participate in the development, testing, analysis and review of new or amended industry specific Borrower Risk Rating, Facility Risk Rating and Expected Loss models, in order to amend user guidance, issue relevant communications, and be able to appropriately respond to any user questions and concerns post-implementation
- Assist, as needed with both regular and ad hoc regulatory reviews, including providing data and information, preparing summaries and reports, and responding to questions and enquiries
Qualifications for retail credit
- Hands-on approach, with proven execution/process skills
- Five to ten+ years’ experience in quantitative credit risk modeling, with experience with consumer lending preferred
- Master’s degree in economics, finance, mathematics, statistics or other quantitative field
- Comprehensive knowledge of the Bank's lending policies for Personal Business is an asset
- Manages and leads a team by scheduling and assigning work, establishing unit goals and objectives, and
- At least 10 years of experience in credit risk management OR at least 10 years of experience in corporate credit analysis OR at least 10 years of experience in a Credit Review assurance role
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Retail Credit Job Description
Job Description Example
Our company is searching for experienced candidates for the position of retail credit. Please review the list of responsibilities and qualifications. While this is our ideal list, we will consider candidates that do not necessarily have all of the qualifications, but have sufficient experience and talent.
Responsibilities for retail credit
- Participate in various Risk Management initiatives and projects
- Plan and implement activities that will support the development of team members aiming for a highly motivated and highly performing team
- Day to day administration support copy invoices, statements etc…
- Assigns loans from the ATR queue
- Reviews each submission to ensure the Intent to Proceed and Service Provider List has been received before assigning the file to an ATR Credit Analyst
- Correspond with Loan Officers and Processors regarding status of loan files in underwriting
- Customer Service- be prepared to answer calls from the field regarding many different issues on a daily basis
- Approves or rejects credit submissions within prescribed limits evaluating customer applications, financial statements, and other customer information in making these credit decisions
- Recommends credit submissions for acceptance or rejection, that are outside prescribed limits, evaluating customer applications, financial statements, and other customer information in making these credit recommendations
- Responsible for responding to unique customer/dealer problems or situations regarding application of credit policies, procedures, or decisions and recommendations and implements solutions
Qualifications for retail credit
- At least 5 years of experience managing a team of direct reports
- At least 6 months of Credit Training from a bank OR at least 6 months of training in in a regulatory office
- Certified Financial Analyst (CFA) OR Certified Professional Accountant (CPA)
- 14+ years of experience in credit risk management OR 14+ years of experience in corporate credit review
- Self-motivation and the enthusiasm for synthesizing highly complex information and concepts into straightforward, concise and insightful research
- Undergraduate or graduate business degree or equivalent relevant experience
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Retail Credit Job Description
Job Description Example
Our company is growing rapidly and is hiring for a retail credit. If you are looking for an exciting place to work, please take a look at the list of qualifications below.
Responsibilities for retail credit
- Maintains sound knowledge of Australia and New Zealand agricultural markets and commodities generally
- Acts as SME to assist with training, coaching and mentoring Credit Analyst and internal staff
- Provides expert advice and may provide work direction
- Responsible for maintaining and developing ongoing business relationships with dealer network and Deere field teams, supporting the marketing of the finance products and product service opportunities
- Various other duties including policy and procedural reviews and undertaking special projects as required
- Providing subject matter expert support to continuously improve RRM account management strategies on specialized portfolios
- Carries out supervisory responsibilities for assigned staff in accordance with the organization’s policies and applicable laws
- Analysis of loan applications within expected turn-around times
- Interaction with deal teams (including but not limited to Client Coverage / Relationship Managers, Leveraged Finance, Capital Markets, Financial Sponsors, and Corporate Lending) and the desk (Rates, FX, ) teams and Corporate Lending regarding CRM follow-ups associated with underwritings, and amendments/extensions of credit and trading limits
- Flexibility and adaptability to rapidly pick up credit surveillance on a rating portfolio of credits
Qualifications for retail credit
- Successful completion of other Business Analysis certification is an asset
- Accounting designation desired but not required
- Exceptional communication skills, both written and verbal influencing skills
- Product knowledge leveraged loans, swaps, equities
- Previous experience of Basel III/CRD IV concepts of PD, LGD, EAD, as they relate to estimating and stress testing loss rates for credit portfolios
- Proven ability to pro-actively manage workflow