Merrick Bank
VP, (CECL/ACL) Credit Loss Reserves
Merrick Bank, Horsham, Pennsylvania, United States, 19044
VP, (CECL/ACL) Credit Loss Reserves – Merrick Bank
Join our team and take the next step in a fulfilling career!
About the Company At CardWorks, we aim to help people connect with possibility and opportunity using our financial servicing expertise. Building meaningful, long‑term relationships with consumers, employees, and clients is what matters most.
Position Summary This is a critical leadership role responsible for the execution, oversight, and continuous enhancement of the Current Expected Credit Loss (CECL) / Allowance for Credit Loss (ACL) reserve process. The incumbent will oversee end‑to‑end execution—including model operation, interpretation of results, variance analysis, and business engagement—ensuring outputs are analytically sound, well‑controlled, and compliant with internal governance, regulatory standards, and audit expectations. Remote or hybrid work arrangements may be considered for qualified candidates. The ideal candidate will possess a strong blend of quantitative acumen, business insight, and governance discipline, serving as a key liaison between modeling teams, finance, business units, and control partners.
Essential Functions
Execute the quarterly CECL/ACL reserve process for assigned portfolios, including running models, validating inputs, and analysing results and reserve movements.
Interpret and communicate results—translating model output into clear, actionable insights for business, risk, and finance partners.
Engage closely with business leads to assess portfolio dynamics, emerging risks, and forecast assumptions influencing the CECL/ACL estimate.
Ensure compliance with all model governance, audit, and regulatory requirements, including maintenance of documentation, controls, and versioning.
Support model monitoring and redevelopment initiatives, providing feedback on performance, portfolio alignment, and assumption reasonableness.
Prepare and present management reporting, reserve trend analysis, and business commentary for senior committees and external stakeholders including audit & regulatory functions.
Compliance With Laws & Regulations
Responsible for complying with all of the Bank’s internal control policies and procedures.
Responsible for understanding and complying with laws and regulations for the Bank.
Responsible for communicating problems in operations, noncompliance with the code of conduct, noncompliance with laws and regulations, policy violations, or illegal acts.
Education & Experience
Bachelor’s degree in Finance, Economics, Accounting, Statistics, Data Science, or a related field.
Master’s degree is preferred.
Ten (10) years of experience in credit risk, allowance modeling, financial analysis, or related disciplines.
Summary Of Qualifications
Strong background in credit risk modeling, with hands‑on experience in CECL or ACL framework & execution; loss forecasting experience would be a plus.
Proficiency with data analytics tools (SAS, Python, SQL, R) and Excel‑based modeling.
Strong analytical and interpretive skills, with the ability to synthesize complex quantitative findings into concise business insights.
Excellent communication and stakeholder‑management abilities, capable of engaging senior leaders and cross‑functional partners.
Familiarity with model risk governance, internal controls, and regulatory expectations.
Benefits
Competitive Pay, including a Bonus Target or Variable Pay Incentive Program
Benefits Package – Medical, Dental, and Vision (plus much more)
401(k) Plan with Company Match
Short‑ & Long‑Term Disability
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, Service Recognition
Equal Opportunity Employer We are an equal opportunity employer. We evaluate qualified applicants without regard to race, color, religion, sex, national origin, disability, veteran status or any other legally protected characteristic. We will conduct a thorough background check for all hires in accordance with applicable regulations.
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About the Company At CardWorks, we aim to help people connect with possibility and opportunity using our financial servicing expertise. Building meaningful, long‑term relationships with consumers, employees, and clients is what matters most.
Position Summary This is a critical leadership role responsible for the execution, oversight, and continuous enhancement of the Current Expected Credit Loss (CECL) / Allowance for Credit Loss (ACL) reserve process. The incumbent will oversee end‑to‑end execution—including model operation, interpretation of results, variance analysis, and business engagement—ensuring outputs are analytically sound, well‑controlled, and compliant with internal governance, regulatory standards, and audit expectations. Remote or hybrid work arrangements may be considered for qualified candidates. The ideal candidate will possess a strong blend of quantitative acumen, business insight, and governance discipline, serving as a key liaison between modeling teams, finance, business units, and control partners.
Essential Functions
Execute the quarterly CECL/ACL reserve process for assigned portfolios, including running models, validating inputs, and analysing results and reserve movements.
Interpret and communicate results—translating model output into clear, actionable insights for business, risk, and finance partners.
Engage closely with business leads to assess portfolio dynamics, emerging risks, and forecast assumptions influencing the CECL/ACL estimate.
Ensure compliance with all model governance, audit, and regulatory requirements, including maintenance of documentation, controls, and versioning.
Support model monitoring and redevelopment initiatives, providing feedback on performance, portfolio alignment, and assumption reasonableness.
Prepare and present management reporting, reserve trend analysis, and business commentary for senior committees and external stakeholders including audit & regulatory functions.
Compliance With Laws & Regulations
Responsible for complying with all of the Bank’s internal control policies and procedures.
Responsible for understanding and complying with laws and regulations for the Bank.
Responsible for communicating problems in operations, noncompliance with the code of conduct, noncompliance with laws and regulations, policy violations, or illegal acts.
Education & Experience
Bachelor’s degree in Finance, Economics, Accounting, Statistics, Data Science, or a related field.
Master’s degree is preferred.
Ten (10) years of experience in credit risk, allowance modeling, financial analysis, or related disciplines.
Summary Of Qualifications
Strong background in credit risk modeling, with hands‑on experience in CECL or ACL framework & execution; loss forecasting experience would be a plus.
Proficiency with data analytics tools (SAS, Python, SQL, R) and Excel‑based modeling.
Strong analytical and interpretive skills, with the ability to synthesize complex quantitative findings into concise business insights.
Excellent communication and stakeholder‑management abilities, capable of engaging senior leaders and cross‑functional partners.
Familiarity with model risk governance, internal controls, and regulatory expectations.
Benefits
Competitive Pay, including a Bonus Target or Variable Pay Incentive Program
Benefits Package – Medical, Dental, and Vision (plus much more)
401(k) Plan with Company Match
Short‑ & Long‑Term Disability
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, Service Recognition
Equal Opportunity Employer We are an equal opportunity employer. We evaluate qualified applicants without regard to race, color, religion, sex, national origin, disability, veteran status or any other legally protected characteristic. We will conduct a thorough background check for all hires in accordance with applicable regulations.
#J-18808-Ljbffr