Manager, Credit Risk

When you join Sallie Mae, you become a champion for all students. We're on a mission to power confidence as students begin their unique journey. To help them plan their higher education, successfully finish, and prepare for life after school. To help them Start smart. Learn big. Students need guidance navigating this important time in their life. They need someone who acknowledges that their education path is unique. They need a partner willing to evolve and not only meet but surpass their expectations. We're changing. Because students need a better way. We're looking for people who are excited to drive this transformation. To break barriers and think of new ways to adapt, help, and create better experiences for students—and for each other. This is where diverse backgrounds, beliefs, and perspectives matter. It's where you're empowered to bring your authentic self to work. Feeling your best allows you to do your best. Our benefits take care of the whole you—from physical and mental to financial and professional. You'll get opportunities to further your education and career, support for you and your family (including your pets!), paid time off to volunteer for the things that matter to you, and more. We're obsessed with impact and making a real difference. For us, that means putting relationships first, asking "why not?" when tackling challenges, and continuously learning new skills. Come do more than join something, change something. For students, for future generations, for the future of education. What You'll Contribute The Manager, Credit Risk serves as a key leader within the Second Line of Defense (2LOD), providing independent oversight, credible effective challenge, and governance support across the credit life cycle. This role is responsible for assessing credit risk practices, portfolio trends, risk appetite alignment, and control effectiveness to ensure the organization's credit strategies across the credit lifecycle remain safe, sound, data-driven, and compliant with evolving regulatory expectations. The Manager will partner closely with First Line business teams while maintaining independence, contribute to executive and committee-level risk reporting, and support regulatory examinations and audit activities. What You'll Do Conduct independent credit risk assessments and thematic reviews across origination, servicing, loss mitigation, and recovery activities, identifying emerging credit risks and exposure across the credit life cycle. Provide effective challenge to First Line credit strategies, assumptions, control frameworks, and portfolio actions; document conclusions and escalate concerns as appropriate. Assess adherence to credit policies, risk appetite statements, underwriting standards, and concentration limits, recommending enhancements where misalignment is observed. Oversee monitoring and reporting of credit risk KRIs, portfolio trends, and emerging risks, ensuring accuracy, consistency, and executive-readiness. Provide second‑line oversight of credit strategy and decisioning frameworks across the lifecycle, including policies, analytics, and supporting models/tools, with an emphasis on governance, performance outcomes, and risk alignment. Support issue management activities, including identification, root cause assessment, remediation tracking, and closure validation related to credit risk matters. Prepare risk summaries and credit risk assessment materials for senior management, risk committees, and regulatory audiences. Collaborate with various internal stakeholders, such as finance, originations, and collections teams, to ensure alignment of credit risk objectives and practices. Collaborate with Compliance, Model Risk Management, Operational Risk, and Internal Audit to ensure comprehensive risk coverage and consistent messaging. Contribute to continuous improvement of credit risk governance frameworks, reporting standards, and oversight practices. The above information is intended to describe the general nature and level of work performed by employees assigned to this job; it is not designed to contain or be interpreted as a comprehensive inventory of all duties, responsibilities and qualifications required of employees in this role. What you have

Minimum:

Indicate minimum education, skills and experience required. Bachelor's degree in Finance, Economics, Business, or a related field; advanced degree or certifications (CRC, FRM, CFA) preferred. 5+ years of progressive experience in consumer credit risk management within a financial services environment, including second line oversight or comparable governance roles. Demonstrated understanding of lines of defense frameworks, risk appetite governance, and regulatory supervisory expectations. Experience delivering effective challenge to senior stakeholders and influencing outcomes without direct authority. Strong analytical capability and problem-solving skills with the ability to translate complex credit risk information into clear executive and committee-level insights, with the ability to think strategically and make informed decisions. Ability to perform analytics in either or multiple languages (Python, SAS, SQL) and expertise in BI tools (Tableau, Power BI, Microsoft Office Suite). Familiarity with consumer credit products (e.g., student loans, unsecured lending, mortgages, credit cards). Demonstrated experience in developing and implementing credit risk strategies, policies, and procedures. High integrity, sound judgment, and ability to handle confidential information with discretion.

Preferred:

Indicate "nice to haves" regarding education, skills, and experience. Experience with credit analytics, decision/credit risk or risk governance frameworks, risk appetite statements, and issue management. Experience with segmentation strategy, vendor management, and regulatory exam support. The Americans with Disabilities Act The Americans with Disabilities Act of 1990 (ADA) prohibits discrimination by employers, in compensation and employment opportunities, against qualified individuals with disabilities who, with or without reasonable accommodation, can perform the "essential functions" of a job. A function may be essential for any of several reasons, including: the job exists to perform that function, the employee holding the job was hired for his/her expertise in performing the function, or only a limited number of employees are available to perform that function. Feeling your best helps you do your best: Our benefits take care of the whole you—so you can build your work around your life (not the other way around!). Competitive base salaries Bonus incentives Generous PTO, Floating Holidays and 12 Federal Holidays observed Support for financial-well-being and retirement 401k with employer match Comprehensive medical, dental, vision, hospital indemnity, critical illness, pet insurance and more Employer paid short-term/long-term disability and basic life insurance Flexible hybrid working arrangements. Paid parental leave and adoption reimbursement programs Free access to on-site staffed fitness centers (in Delaware) and gym subsidy (for locations outside Delaware) Confidential counseling support (EAP), Health Advocacy services and Wellness program with financial incentives Tuition Reimbursement and Family Scholarship Programs Career development and training opportunities Not the right fit? Let us know you're interested in a future opportunity by clicking Introduce Yourself in the top-right corner of the page or create an account to set up email alerts as new job postings become available that meet your interest! 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. Click here to view the U.S. Pay Transparency Policy, here for federal job applicant notices, and here to view the California Employee Privacy Notice. Reasonable accommodations are available for applicants with disabilities in all phases of the application and employment process. To request an accommodation please call (855) 756-2007 and choose option 9. All information you provide will be kept confidential and will be used only to the extent required to provide needed reasonable accommodations. When you join Sallie Mae, you become a champion for all students. We're on a mission to power confidence as students begin their unique journey. To help them plan their higher education, successfully finish, and prepare for life after school. To help them Start smart. Learn big. Students need guidance navigating this important time in their life. They need someone who acknowledges that their education path is unique. They need a partner willing to evolve and not only meet but surpass their expectations. We're changing. Because students need a better way. We're looking for people who are excited to drive this transformation. To break barriers and think of new ways to adapt, help, and create better experiences for students—and for each other. This is where diverse backgrounds, beliefs, and perspectives matter. It's where you're empowered to bring your authentic self to work. Feeling your best allows you to do your best. Our benefits take care of the whole you—from physical and mental to financial and professional. You'll get opportunities to further your education and career, support for you and your family (including your pets!), paid time off to volunteer for the things that matter to you, and more. We're obsessed with impact and making a real difference. For us, that means putting relationships first, asking "why not?" when tackling challenges, and continuously learning new skills. Come do more than join something, change something. For students, for future generations, for the future of education.