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Manager, Private Credit Underwriting

at Sallie Mae in New Castle, Delaware, United States

Job Description

Manager, Private Credit Underwriting

New Castle – Christiana, DE

Who we are:

Sallie Mae is proud to help Americans aspiring to create the life they imagine-whether that means helping them make college happen, or other endeavors they pursue to invest in their future. Our colleagues across departments and across the country are united in our passion and our customer-first approach. Whether you want to join a growing company, be part of an agile workforce, or gain new skills-you’re in the right place.

What You’ll Contribute

The Credit Underwriting Manager is responsible for managing and directing the day-to-day activities of the Student Loan Underwriting Department. Responsibilities include providing guidance and support to the Student Loan Underwriters, implementing regulation/guideline changes, monitoring underwriting performance, conduct reviews of judgmental credit decisions to ensure quality, identify trends and provide feedback. The Credit Underwriting Manager will develop agents to ensure credit decisions and development is strong, mitigating risk and limiting missed business opportunities. Candidates for this position must have demonstrated strong attention to detail, and a firm grasp of departmental policies and procedures. The Credit Underwriting Manager may handle inquiries from sales personnel and schools and assist other departments and personnel with underwriting questions/procedures when necessary. Candidates for this position must have Credit Underwriting Lending Authority from Sallie Mae.

What You’ll Do

Description

% of Time Spent

• Ensure quality credit decisions are being rendered

· Ensures proper decisions are made within Credit Policy and in compliance with all regulations

· Provides feedback to Credit Specialists for educational and incentive purposes

· Recommends policy changes and update current credit desktops

· Ensures all credit decisions are within Sallie Mae’s Service Level Agreements

· Assists with the management of the Personal Loan product during low volume times

40%

• Personnel Management

· Hires, trains and develops new and existing staff

· Ensures that all are working up to abilities and expectations

· Tracks feedback and decision reversals to analyze performance and identify trends

+ Career development and coaching

30%

• Improve Efficiency and Productivity

· Ensures effective and responsible lending is provided via telephone support

· Conducts monthly reviews of Credit decisions and listening to lower Average Handle Time and increase Decisions Per Hour

· Works with Credit Risk Management and Decision Science and Analytics to keep updated on lending trends and mitigate risk

· Approval Rate Validation – identifies trends on fluctuating approval rates

30%

Required Qualifications:

What You Have

Minimum: Indicate minimum education, skills and experience required.

• Bachelor’s Degree or equivalent working experience

• 5 years direct management experience in financial institution operations

• Strong written and verbal communication skills

• Demonstrated logical thinking ability

• Must be able to work independently as well as with a team

• Proficiency with Microsoft Excel, Word and PowerPoint

• Strong knowledge of Private Student Loan Policies

• Knowledge of the Credit Lending Philosophy

• Knowledge of how to read credit reports from the two major credit bureaus

• Proficient with calculating/understanding cash flows as it pertains to monthly disposable income

• Ability to identify performance trends and make recommendations

• Ability to work in fast paced environment

• Flexibility to work at minimum one late night and Saturdays during peak season

Preferred: Indicate “nice to haves” regarding education, skills, and experience.

• Adept problem solving and superior conflict resolution skills

• Strategic thinking, ability to evaluate and set departmental goals based on business and individual need

• Well organized, self-directed, and demonstrates a strong attention to detail

• Ability to develop and maintain key relationships across the organization and all levels of leadership

What You’ll Get at Sallie Mae:

+ Comprehensive Compensation and Healthcare Benefits (Medical, Dental, Vision plans)

+ Financial Well-being : 401(k) company match, employee stock purchase plan, and basic life insurance and short-term disability are provided to employees at no cost

+ Work/Life Balance : Paid time off, time off to volunteer, and tuition reimbursement. In addition, after 6 months of employment, primary caregivers receive 12 weeks of 100% fully paid time off and secondary caregivers are eligible for 4 weeks of 100% fully paid time off, for birth or adoption

+ Wellness : Fitness centers/gym subsidies, free Fitbits with step challenges, and wellness education

Sallie Mae is proud to be an equal opportunity (EEO) employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, gender, sexual orientation, national origin, age, genetic information, gender identity, disability, Veteran status or any other characteristic protected by federal, state or local law. If you’d like more information about your EEO rights as an applicant, please click here. EEO is the Law Supplement. Click here to view the U.S. Pay Transparency Policy.

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Job Posting: JC199046551

Posted On: Dec 04, 2021

Updated On: Dec 08, 2021