Director Credit Risk Management

About Us

Founded in 1997, Merrick Bank is an FDIC®-insured financial institution headquartered in South Jordan, Utah, with over $10 billion in assets. A wholly owned subsidiary of CardWorks Financial Group, Merrick Bank serves roughly five million cardmembers and more than 100,000 merchant customers nationwide. We provide credit cards, recreational loans, deposit accounts, merchant services, and bank sponsorships to consumers and businesses. As a leader in non-prime lending and merchant acquiring, we combine innovative technology with data-driven insights to help underserved consumers build and strengthen credit while delivering integrated, scalable payment solutions for businesses. Merrick Bank ranks among the top 20 FDIC®-insured credit card issuers in the U.S. and among the top 15 merchant acquirers by transaction volume.

About the Role

The Director, Credit Risk Oversight, plays a critical leadership role in the Bank's second line of defense by providing independent oversight, challenge, and assessment of credit risk across the enterprise. This position leads credit oversight of the Bank’s consumer lending portfolios, conducts independent evaluations of credit performance and material credit decisions, and ensures risks are appropriately identified, understood, and escalated. Through forward-looking risk analysis, effective challenge of assumptions and strategies, and active participation in credit governance, this role influences risk appetite and portfolio strategy. The Director also serves as the functional leader for review and challenge activities within the Credit Risk Oversight function, helping to establish consistent standards for independent risk assessment and effective challenge. This position reports to the VP, Credit Risk Oversight and provides leadership, guidance, and mentorship to members of the Credit Risk Oversight team.

Responsibilities

• Credit Risk Monitoring & Assessment: Provides independent oversight of consumer lending portfolios through ongoing monitoring of portfolio performance, risk trends, forecast outcomes, and key risk indicators. Identifies emerging risks, evaluates performance relative to expectations and risk appetite, and escalates material concerns to support timely management action and informed governance decisions.
• Review, Challenge & Concurrence: Leads the independent review and challenge of material credit decisions. Evaluates assumptions, methodologies, risk-return tradeoffs, and implementation plans. Provides formal concurrence opinions and escalates concerns when risks are inadequately understood, mitigated, or communicated.
• Credit Oversight Reporting: Develops independent credit risk assessments and executive-level oversight reporting. Synthesizes portfolio performance, forecast results, credit decisions, and emerging risks into clear, actionable insights for senior leadership and governance committees.
• Credit Governance: Supports the development, implementation, and ongoing enhancement of credit risk governance practices, oversight standards, and review and challenge frameworks. Contributes to the establishment of consistent risk oversight processes that promote transparent, disciplined, and effective credit risk management across the enterprise.
• Review & Challenge Framework Leadership: Serves as the functional lead for credit decision review and challenge activities within Credit Risk Oversight. Establishes standards, practices, and documentation requirements for independent challenge, concurrence processes, and escalation protocols to ensure consistent and effective oversight across portfolios.
• Credit Risk Partnership & Influence: Develops strong partnerships across first- and second-line functions, providing an independent perspective on credit risk. Ensures risks are clearly understood, appropriately articulated, and incorporated into decision-making while constructively influencing outcomes through data-driven analysis and effective challenge.

Requirements

• Education & Experience:
  • Bachelor's degree in Business, Finance, Economics, Statistics, Mathematics, Engineering, or a quantitative discipline is required.
  • Master's degree (MBA, Economics, Statistics, or related field) is preferred.
  • Eight (8) years of experience in consumer credit risk management or strategy, with experience in secured lending, consumer loans, indirect lending, or third-party lending programs.
  • Experience providing independent review, challenge, or oversight of credit strategies, forecasts, underwriting policies, portfolio management activities, or risk governance processes strongly preferred.
• Skills & Capabilities:
  • Credit Risk Management Expertise: Advanced understanding of full lifecycle consumer credit risk management, including credit strategies and credit risk monitoring.
  • Independent Review & Challenge: Demonstrated ability to critically evaluate assumptions, methodologies, forecasts, and credit strategies and provide well-supported challenge.
  • Risk Governance & Oversight: Strong knowledge of credit risk governance practices, second-line risk management principles, delegated authority structures, and escalation frameworks.
  • Executive Risk Communication: Ability to synthesize complex quantitative and qualitative information into clear, concise, and actionable insights, reports, and recommendations.
  • Strategic Influence & Partnership: Proven ability to influence decision-making and build credibility while maintaining an independent risk perspective.
  • Credit Analytics: Strong analytical capabilities with experience identifying early warning indicators, evaluating portfolio trends, assessing key risk indicators, and forecasting methodologies.
  • Technical Knowledge: Ability to leverage data and reporting tools to analyze portfolio performance and communicate risk insights. Familiarity with SQL, SAS, Python, Power BI, or comparable analytical tools preferred.

Compliance

• Responsible for complying with all the Bank’s internal control policies and procedures.
• Responsible for understanding and complying with all laws and regulations to which the Bank is subject.
• Responsible for communicating problems in operations, noncompliance with the code of conduct, noncompliance with laws and regulations, policy violations, or illegal acts.

Work Environment

• This position is remote or hybrid. If hybrid, the expectation is that the employee will work approximately 2-3 days onsite per week, depending on business needs.
• Work is in an office environment; sustained posture in a seated position for prolonged periods of time; works with computer equipment for prolonged periods of time.
• Some stress may occur.
• Occasional travel may be required.

Benefits

• Competitive pay, including a bonus target or variable pay incentive program.
• Comprehensive benefits package:
  • Medical, dental, and vision insurance.
  • 401(k) plan with company match.
  • Short- and long-term disability insurance.
  • Wellness programs.
  • Group life and AD&D insurance.
• Paid vacation, sick days, and bank holidays.
• Employee engagement activities, including Employee Appreciation Day, DEI Employee Resource Groups, Corporate Social Responsibility, and Service Recognition.