VP, Fair Lending

Job Description:

Role Title: VP, Fair Lending (L12)

Company Overview: Synchrony (NYSE: SYF) is a premier consumer financial services company delivering one of the industry's most complete digitally enabled product suites. Our experience, expertise and scale encompass a broad spectrum of industries including digital, health and wellness, retail, telecommunications, home, auto, outdoors, pet and more.

• We have recently been ranked #2 among India's Best Companies to Work for by Great Place to Work. We were among the Top 50 India's Best Workplaces in Building a Culture of Innovation by All by GPTW and Top 25 among Best Workplaces in BFSI by GPTW. We have also been recognized by AmbitionBox Employee Choice Awards among the Top 20 Mid-Sized Companies, ranked #3 among Top Rated Companies for Women, and Top-Rated Financial Services Companies.

• We offer Flexibility and Choice for all employees and provide best-in-class employee benefits and programs that cater to work-life integration and overall well-being.

• We provide career advancement and upskilling opportunities, focusing on Advancing Diverse Talent to take up leadership roles.

Organizational Overview: Synchrony's Risk Team provides independent oversight of Synchrony's risk-taking activities to ensure safety and soundness, meet regulatory and legal requirements, and manage risks to the risk-appetite of the Board. Risk is responsible for independently assessing, quantifying, and overseeing risks & providing effective challenge. Risk serves as Synchrony's Second Line of Defense.   

Overall, Risk Team oversees and manages the Risk Program to support the business in anticipating and addressing risks, issues and challenges. Results are consistent with the respective strategic uses and complying with related overall risk, risk testing policies, standards, procedures as well as regulations. Our Risk organization consists of 4 pillars: Compliance, Credit & Financial Risk, Enterprise Risk and Operational Risk. Each of the pillars play a vital role in managing Risk and supports the business in anticipating and addressing risks, issues, and challenges.
 

Role Summary/Purpose:

This role is responsible for supporting the Fair Lending Compliance Program by providing functional fair lending oversight to the Servicing, Customer Solutions, Collections and Complaints teams.  This individual will have primary responsibility for oversight of the fair lending complaints program, as well as the American with Disabilities Act ("ADA").  In addition, this role will participate in the fair lending risk assessment, provide training, develop robust monitoring, complete targeted tests, and support strategic initiatives.

Key Responsibilities:

• Identify fair lending risk through broad-based fair lending knowledge

• Serves as the subject Matter Expert in Disparate Treatment with respect to ability to quantify risk and suggest appropriate controls to limit discretion and differences in treatment

• Serves as the subject matter expert and primary contact for oversight of the fair lending complaints program

• Serves as the subject matter expert and primary contact for oversight of ADA

• Responsible for management of the Fair Lending Sub-Committee

• Responsible for fair lending KRI reporting

• Support Fair Lending Program Framework by owning and completing the risk assessment and employee training on identification of fair lending risk for the functions and/or processes this role supports

• Build Strategic relationships within the various functions to aid in the identification of fair lending risk

• Complete targeted tests (including control design assessments) for identified L3 processes with higher Disparate Treatment risk and recommend action plans to address identified risk

• Support any needed process enhancements in Servicing, Customer Solutions, and Collections to ensure compliance with the Americans with Disabilities Act

• Perform other duties and/or special projects as assigned

Required Skills/Knowledge:

• Bachelor's degree, plus 9+ years of work experience in the financial services industry or in lieu of degree, 11+ years of financial services experience

• 5+ years of experience with exposure to fair lending principles and regulatory hot topics within the consumer credit/private label credit card industry

• Experience in fair lending, internal audit, testing or in a governance function

• 5+ years of experience collaborating with cross-functional teams

• 5+ years of successful work in a matrixed environment, leading projects and/or completing tests/audits

• 3+ years of presenting results to senior leaders

Desired Skills/Knowledge:

• Excellent communication and influencing skills to coordinate with multiple functional areas and independently present explanations of complex subjects to senior management and partner with teams throughout the company

• Experience in/or existing process knowledge of Servicing, Customer Solutions or Collections as it relates to fee waivers/concessions or settlements

• Experience in reviewing and understanding processes related to Complaints

• Ability to objectively identify risks, effectively challenge and communicate fair lending risks

• Strong written and verbal communication skills

• Ability to build strong relationships with business partners and to be top of mind when questions arise with business partners

• Proven ability to influence senior management and initiate change

• Ability to be forward-thinking in the identification of future risks and work cross-functionally to mitigate identified risks

Eligibility Criteria:

Bachelor's degree, plus 9+ years of work experience in the financial services industry or in lieu of degree, 11+ years of financial services experience

Work Timings: This role qualifies for Enhanced Flexibility and Choice offered in Synchrony India and will require the incumbent to be available between 06:00 AM Eastern Time – 11:30 AM Eastern Time (timings are anchored to US Eastern hours and will adjust twice a year locally). This window is for meetings with India and US teams. The remaining hours will be flexible for the employee to choose. Exceptions may apply periodically due to business needs. Please discuss this with the hiring manager for more details. 

For Internal Applicants:

• Understand the criteria or mandatory skills required for the role, before applying

• Inform your manager and HRM before applying for any role on Workday

• Ensure that your professional profile is updated (fields such as education, prior experience, other skills) and it is mandatory to upload your updated resume (Word or PDF format)

• Must not be any corrective action plan (Formal/Final Formal)

• L10+ Employees who have completed 18 months in the organization and 12 months in their current role and level are only eligible.

• Employees at L10+ can only apply for this opportunity.

Level / Grade : 12

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