Alliant Credit Union
We set the standard for simple and rewarding digital banking.
Chicago, IL
Hybrid

Sr. Manager, Credit Risk

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Start a Rewarding Career with Alliant

What will your day look like?

You will be responsible for providing data-driven insights and recommendations for the effective management of the risk-return trade-off across all Consumer and Residential Lending portfolios (mortgages, credit cards, personal loans, auto loans, etc.). The incumbent leads a team of 2-8 analysts and drives significant workstreams and initiatives leveraging data and analytics. The Sr. Manager builds productive and constructive relationships with key partners across different functions, including business line managers, Finance, Compliance, etc.

The incumbent drives the development of analytical frameworks and strategies for loan origination, account management, loss forecasting, capital planning and CECL; analyzing data to identify the quantitative and qualitative factors driving the credit risk for consumer & mortgage loans; leading the evaluation, implementation and monitoring of third-party and in-house scoring solutions; performing model validations and strategies testing; and assisting with audit/regulator requests. The Sr. Manager is a key contributor to the success of the Risk Management team. Work involves working cross-functionally with business, loan servicing, and data service teams, data preparation and analysis, and effective presentations to management. The role requires a strong understanding of internal databases, deep knowledge of loan products and credit risk analytical tools and methodologies, as well as familiarity with applicable regulatory requirements.

Responsibilities

Do you see yourself doing this?

Credit Risk Responsibilities:

  • Lead a team of analysts to use data and analytics to develop analytical frameworks and strategies for loan origination strategies, loss forecasting, capital planning and CECL
  • Analyze origination risk factors and recommend improvements in underwriting criteria and loan product pricing to increase loan volumes within the risk appetite
  • Provides sound risk guidance, interpretation and forecasting based on quantitative facts and sound judgment
  • Review and monitor credit risk for existing accounts in open-ended lending products such as credit card, HELOCs, etc., and recommend line management strategies
  • Support new data acquisition and guide Credit Risk analysts and other functional areas on current data intricacies
  • Conduct third-party quarterly mortgage & consumer loan portfolio performance analysis
  • Provide thought leadership and rule recommendations for loan origination system implementation and maintenance
  • Assess the risk-adjusted profitability Net Present Value (NPV) of new originations across the portfolios managed

Functional Responsibilities:

  • Strong ability to drive multiple concurrent analytical projects of high complexity from inception and planning to completion, and provide effective direction to a team of 2-8 Credit Risk analysts
  • Ensure effective communication with management and key stakeholders from other functional areas
  • Responsible for all credit risk analytics, which includes but is not limited to loan origination strategy, economic capital setting, credit loss modeling and mitigation, CECL implementation
  • Partner with Loss Prevention & Recovery to enable sound collection strategies
  • Collaborate with Database Administration to streamline two-way communication to ensure data quality
  • Query the Data Warehouse and other databases to extract, summarize, and save relevant data
  • Drive improvements in test set-up to more accurately assess effectiveness of proposed risk strategies and team up with Operations and other departments for project implementation
  • Evaluate, implement, and monitor internally developed or third-party scoring solutions
  • Present recommendations and findings to management
  • Develop periodic reports for audit and regulatory compliance and assist with ad hoc requests
  • Help formulate and revise credit policies and procedures to address new regulations

Leadership:

  • Deliver superior results through quality execution and best practice adaptation.
  • Demonstrate courage, ability and agility to understand and address organizational transition in real-time; establish expectations for the unexpected.
  • Translates strategic and operating plans into meaningful direction of projects, goals, priorities and activities.
  • Captures, analyzes, and understands the internal environment, team dynamics, and talent capabilities to address organizational refinement, agility and growth.
  • Champions Employee/Internal Customer Engagement, employee development and all cultural hallmarks through a strong leadership signature and a growing command of Alliant's leadership competencies.
  • Continually assesses and provides discerning development, insightful coaching and talent utilization/optimization for direct reports.
  • Apply High Performance Management practices in leading an engaged workforce in order to effectively leverage the full potential and talent of this function.
  • Provide a structural and consistent approach to ensure that individual development plans are in place, performance management is consistent, performance management process is respected and followed, and coaching and feedback are provided on a regular and dynamic basis.
  • Work with your direct reports and help seek out growth opportunities for your reports; continually challenge reports to maximize their engagement and productivity.

Help propagate messaging across the organization that fosters a broader knowledge of Information Security, promotes collaboration and influences constructive and positive change.

Adhere to and ensure compliance of all business transactions with policy and process of the Bank Secrecy Act. Ensures compliance with all applicable state and federal laws, company procedures and policies. Maintains integrity and ethics in all actions and conversations with or regarding credit union members and their accounts; complies with Privacy Act directives

Qualifications

What makes you a great fit?

You'll be a great fit if in addition to the completion of a Master's or PhD degree in Mathematics, Statistics, Quantitative Finance, Financial Engineering, Computer Science, or other quantitative field required , you have:

  • Six or more years of experience in credit risk analytics in the financial services industry
  • Prior leadership experience and demonstrated ability to lead and develop a highly effective team
  • Solid understanding of credit loss calculation and stress testing process, such as CECL/CCAR/DFAST etc.
  • Ability to frame complex problems, manage ambiguity and formulate pragmatic solutions
  • Ability to think critically and creatively to identify ways to leverage data to improve team success
  • Strong hands-on capability and aptitude to lead by example
  • Robust data analysis skills and ability to work with large data sets, data control and financial modeling
  • Hands-on work experience with the credit risk strategy development and risk measures (PD, LGD and EAD)
  • Strong programming (Python/R/SAS/SQL) for data manipulation, statistical analysis and modeling
  • Excellent organizational, communication, collaborative, and consultative skills
  • Exceptional attention to detail
  • Ability to successfully present complex analyses to internal customers with different technical backgrounds
  • Demonstrates highly effective decision-making skills

When you're happy, we're happy!

As a thank you for joining our team, you'll benefit from:

  • Competitive medical, dental, and free vision benefits
  • Competitive compensation plan
  • Contributions towards gym memberships
  • Generous PTO and banking holidays off

Still not convinced?

For more details you can also visit our Glassdoor and LinkedIn profiles.

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What are Alliant Credit Union Perks + Benefits

Alliant Credit Union Benefits Overview

Alliant constantly works on improving its Employee Value Proposition. Our Human Capital Group team seeks ongoing employee feedback to continue to raise the bar on employee-focused benefits, making updates to the existing and adding new benefits every year.

Culture
Volunteer in local community
Alliant offers 8 hours of paid volunteer time benefit for all employees.
Partners with nonprofits
To execute on our mission of Bridging the Digital Divide, Alliant has partnered with PCs for People, Connected Nation, DiGiTunity and the National Digital Inclusion Alliance.
Open door policy
OKR operational model
Team based strategic planning
Flexible work schedule
Alliant provides employees with a flexible work schedule that includes Flexible start and end times.
Remote work program
Since the pandemic began, all non-essential job functions have been remote 100%.
Diversity
Documented equal pay policy
Dedicated diversity and inclusion staff
Highly diverse management team
Mandated unconscious bias training
Alliant provides our leaders and employees with unconscious bias, psychological safety and inclusive mindset training.
Diversity manifesto
Diversity employee resource groups
Alliant supports employee resource groups. At this time, employees created INCLUDE, a women's resource group and ALL, an LGBTQ+ employee resource group, and EMPOWER black employees' resource group.
Hiring practices that promote diversity
At Alliant, we ensure that we have a diverse candidate slate for every role for which we hire and that our interview panels are also diverse.
Health Insurance & Wellness Benefits
Flexible Spending Account (FSA)
Alliant employees can contribute up to $2,750 annually to their Health Care FSA and $5,000 to their dependent care FSA.
Disability insurance
Company provides Short Term Disability benefit payable for up to 13 weeks as well as Long Term Disability insurance that covers 66.67% of your monthly earnings up to $10,000 monthly maximum payout.
Dental insurance
Preventive services covered at 100%, Basic services covered at 80%; Major restorative services covered at 50%; Orthodontics covered at 50%
Vision insurance
Alliant offers free vision benefits to its employees and their dependents. The vision benefits plan covers 100% for annual eye exams after a $10 copay and $150 for glasses and contacts.
Health insurance
Alliant provides a choice of two medical plans. If you elect a medical plan, you are automatically enrolled in an HSA where Alliant contributes funds to help you pay for your out-of-pocket expenses.
Life insurance
Basic Life insurance and Accidental Death & Dismemberment is equal to 1 times an employee's annual salary. Employees can also purchase Voluntary Life insurance for themselves and their dependents.
Pet insurance
Our pet insurance policy covers up to %90 of out of pocket expenses.
Wellness programs
With Alliant's wellness reimbursement program, each employee receives up to $35 per month (non-cumulative) to spend on wellness activities and discounted wellness services through ThrivePass.
Mental health benefits
Alliant employees get free access to ComPsych, Calm and myStrength apps and services.
Financial & Retirement
401(K)
Alliant offers a 401(k) plan administered through Fidelity where employees can contribute up to 60% of eligible compensation to the annual IRS limit.
401(K) matching
We match 100% of contributions up to the first 5% of an employee's annual gross pay. eligible salary. You will be 100% vested in these contributions right away.
Performance bonus
In the last years, Alliant’s bonus payouts were above 100%.
Charitable contribution matching
The Alliant Credit Union Foundation also matches employee donations made to non-religious, non-political 501(c)(3) organizations up to a total of $1,000 per person per calendar year.
Child Care & Parental Leave Benefits
Generous parental leave
We provide up to 6 weeks of parental leave for the primary and secondary caretakers.
Family medical leave
Employees who have been with the company for 12 months are eligible for up to 26 weeks of family medical leave.
Vacation & Time Off Benefits
Unlimited vacation policy
Generous PTO
Our employees receive between 21 and 31 days per year of paid time off based on years of service. Alliant also offers a Flexible Time Off (unlimited time off) policy for Sr. Managers and above.
Paid volunteer time
Our employees receive 8 hours per year of paid volunteer time.
Paid holidays
Office Perks
Commuter benefits
Employees can withhold up to $280 per month pre-tax for transit expenses and up to $280 per month pre-tax for parking expenses.
Company-sponsored outings
Alliant hosts between 4 and 6 major employee events in a year, including the Annual Volleyball Tournament, annual summer party and employee appreciation day celebration.
Free snacks and drinks
Currently, Alliant offers free snacks, free hot beverages and bottled water during the day, free lunch/food events on occasion and bi-weekly free fruit.
Some meals provided
Fitness stipend
Alliant reimburses its employees up to $35 per month for gym, health and fitness services and activities.
Professional Development Benefits
Job training & conferences
Alliant offers employees professional development opportunities like Annual individual budget for training, onsite training courses and the ability to attend job-related conferences and seminars.
Tuition reimbursement
We offer up to $5,250 annually for continuing education through our tuition reimbursement benefit.
Lunch and learns
Alliant hosts lunch and learn and hour with the leader meetings once per quarter, giving our employees to hear from our executive and senior leadership teams.
Promote from within
Continuing education stipend
We offer up to $5,250 annually for continuing education through our tuition reimbursement benefit.
Online course subscriptions available
Customized development tracks
Paid industry certifications

Additional Perks + Benefits

Alliant constantly works on improving its Employee Value Proposition. Currently, Alliant offers free snacks, free hot beverages and bottled water, free lunch/food events on occasion, personal concierge service, on-site package/mailing service, massage therapy, discounted ticket sales, car wash, dry cleaning, convenience store, vehicle maintenance, banking and a gym at our headquarters location.

Our company works hard to create a work environment that allows our employees to maintain a healthy work/life balance. We encourage our employees to take advantage of flexible hours and offer an option to work remotely. Alliant also offers a very generous PTO package, which starts new employees with 21 PTO days annualized in their first year of employment.

The well-being of our employees and their families translates to productivity and commitment to their jobs. That is why we constantly work on launching new benefits that will help them find the best medical care at the lowest cost and get the help they need with convenience and without unnecessary stress.

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