VP Credit Risk
Operations – Risk and Fraud
Launched in 2012, Checkout.com is a leading international provider of online payment solutions. Checkout.com is built on 100% proprietary technology and handles every part of the payment process, providing complete transparency across the entire payment value chain.
We currently process 150+ currencies and offer access to all international cards and popular local payment methods to merchants through one integration.
Customers in our portfolio include international businesses like Samsung, Transferwise, Hopper, Virgin and Adidas. Our mission is to partner with smart businesses to optimise their payments, increase revenue and meet the dynamic needs of their customers.
We are building a unique work environment where our people aspire to solve complex problems and deliver valuable solutions. We believe that excellence can be achieved through a dynamic culture driven by collaboration and teamwork.
In May 2019, we raised $230m in what is Europe’s largest ever fintech Series A round, and globally the third largest fintech Series A round of all time. This fundraising round gave us a valuation of around $2 billion.
About the Role
As the VP of Credit Risk, you will play a key role in the Risk Department, providing leadership and strategic direction in the management of credit risk across the Checkout.com portfolio. Your primary responsibility will be to manage credit risk at Checkout.com and you will oversee the Credit Risk Policy Framework governing credit risk management during the customer lifecycle, across different teams within the Operations division and across the different jurisdictions whereCheckout.com operates.
You will be required to work closely with both internal and external stakeholders in establishing onboarding and monitoring standards by building credit risk models using quantitative and qualitative data. You will also be actively contributing to Checkout.com’s Enterprise Risk Management efforts and shaping the company’s Credit Risk Strategy with Senior Management.
The VP of Credit Risk will have significant autonomy to develop the function and lead a team of analysts and financial risk management professionals, overseeing the company’s credit risk mitigation efforts.
- Oversee the Credit Risk Policy Framework for the Checkout.com group
- Lead a team of risk analysts to manage credit risk across the Checkout.com portfolio
- Oversee the design and maintenance of advanced credit loss and financial risk forecasting models in collaboration with the Risk Analytics Team
- Define onboarding credit risk standards
- Analyse financial information of small to large enterprise merchants and use key metrics to set collateral/reserves and ongoing monitoring of financial health
- Establish approval authorities for sign-off on volume limits based on credit ratings
- Maintain policies on reserves/collateral and merchant funding
- Define credit risk monitoring standards and KPIs at merchant, acquirer and other group levels by setting thresholds and escalation procedures
- Collaborate with the Finance Team to define fraud loss budgets
- Assess concentration risk of specific industries/merchants within the Checkout.com portfolio
- Monitor economic trends that could potentially impact the portfolio if a specific industry faces a crisis or other challenges
- Collaborate with the Finance Team to review portfolio reserves against risk exposure at enterprise level
- Set thresholds and criteria for terminations based on probability of default or credit losses
- Use predictive models to assess reserves and funding requirements after termination of a merchant
- Develop collection and workout processes
- Manage credit risk reporting including performance, trends and other relevant insights on the portfolio
- Monitor regulatory changes and industry trends
- Provide guidance and training to staff on credit risk policies, standards and procedures
- 7+ years of experience in credit risk management, preferably in the payments industry, in a supervisory or managerial capacity
- Holds a bachelor’s degree and other relevant specialised professional qualifications or training
- Demonstrate sound understanding of the financial services industry
- Highly skilled in quantitative methods and financial risk modelling
- Strong knowledge of regulatory capital frameworks
- Solution-driven approach, with excellent problem solving and analytical skills
- Strong written and verbal communication skills
- Knowledge of card schemes rules and regulations would be an advantage
- Ability to manage a team across different jurisdictions
Checkout.com is an equal opportunities employer. We believe passionately that employing a diverse workforce is central to our success. We make recruiting decisions based on your experience, skills and personality. We welcome applications from all members of society irrespective of age, sex, disability, sexual orientation, race, religion or belief. Due to the numerous amount of application received, only the ones corresponding to this job profile will be contacted. If you have not been contacted within 3 weeks please deem your application as unsuccessful.