Chief Credit Officer

WEX Inc. is a leading and growing global provider of payment processing, information management and fleet card payment solutions.

We hire people who share our passion for continuous innovation and client service that is unparalleled in the industry.

If you are looking for a growing career – come be part of WEX today! Great Place To Work-Certified.


The Global Chief Credit Risk Officer ("CRO") position directs or governs all elements of credit risk policy and credit risk management strategies on a global basis. The position is responsible for ensuring that all WEX business units, international and domestic, subscribe to effective credit risk management philosophies, policies and procedures. The CRO is responsible for the ongoing development of the company's "Global Credit Risk Policy", and ensuring that all business units understand and adhere to said policy while taking into consideration special or unique derivations of the policy based on markets served and products offered.

CRO also oversees several credit risk management operational areas, including receivables management, portfolio risk analysis, and certain other credit administration functions for strategic accounts.

The qualified CRO serves as the company's senior most credit risk management professional. CRO is empowered with significant freedom to act, independent decision-making, elevated accountability, impact, and responsibility. CRO must effectively interpret and align with all corporate strategic objectives, including introduction of new products and entrance in to new markets. The CRO position holds primary accountability in the event of under-performance and or lack of predictability for multiple high impact financial results, including but not limited to bad debt expenses, losses recorded due to deficient process controls, credit approval rates, and finance income revenue. Position requires deep collaboration with the President of card issuing bank subsidiary WexBank. Global CRO also maintains a dotted line supervisory relationship over the Chief Risk Officer at WEXBank. Will also increasingly have varying levels of formal oversight over other credit risk management leaders at other WEX business units globally

CRO is responsible for ensuring that all strategic client relationships are implemented, managed and maintained at the highest levels of service responsiveness relative to billing, payments, disputes and overall receivables management. These services are core to the company's value proposition and have major impacts on overall client satisfaction and retention. These duties may include facilitation and direction of adoption of new product features and technology capabilities.

Overall success in this role and across all job duties emphasizes collaborative approaches and strategies that balance sound credit risk management results, overall client retention and service effectiveness, and ultimately, revenue growth and optimal profitability.


Portfolio Credit Risk Management

Implement and maintain policies, operating standards and management practices designed to ensure the growth and health of the all WEX Accounts Receivable Portfolios ("the Portfolios"). Primary measures include maintaining and enabling corporate revenue goals, maximizing fee revenue yields, while also minimizing credit losses, fraud losses, and customer attrition.

The total portfolio volume indicators are: $35 billion annual card sales, 350,000 customer accounts, and $2 billion in cardholder receivables (needs updating). The portfolio is comprised of a highly diverse customer mix in terms of industry, and ranges in customer size from small business to Fortune 50 corporations and Federal Government accounts. Accordingly, a wide range of experience and expertise in risk management disciplines is required.

Continuous process improvement is critical to forecast accuracy and predictability of late fee revenue, bad debt, delinquency patterns, and causal relationships between risk management actions and customer attrition. Drives continuous feedback loops and a vibrant learning culture in order to optimize results, and ensure agile course corrections in the face of changes to internal and external conditions.

CRO position requires extensive knowledge and experience across a multitude of portfolio risk management disciplines and professional skills, including new credit underwriting, account management, collections, fraud, accounting and financial controls, bankruptcy administration, sales tax, compliance and industry technology trends. Provide consultative services and expertise as required in legal and contractual matters and bankruptcy proceedings.

Proactively participates in the ongoing development and refinement of the company's risk management strategies and policies in collaboration with Executive Management. Communicate the effectiveness of current practices and policies, and proactively recommend or analyze potential changes to increase growth, retention and profitability. Drive increasingly scientific, data-driven approaches to management, and enhanced champion challenger and testing strategies.

Global Credit Risk Governance

Develops and manages effective governance and stewardship programs and frameworks to ensure the company has visibility, transparency and effective controls for all business units globally as relates to credit risk management functions. Liaison with senior most credit management personnel at all business untis, often including formal dotted line reporting structures. Responds effectively to any concerns or findings by WEX Internal Audit, ERM committees, and business unit senior management as relates to credit risk management. Maintain timely quarterly dashboard reporting and credit risk KPI's from all business units. May conduct on site reviews at domestic and international business units. Recommends and ensures remediation steps are identified and executed by individual business units in cases where credit policy definition, compliance or process controls are deemed in adequate. Global Credit Risk Management programs and status updates are provided to the WEX BOD Audit Committee several times per year.

Operational Management / Budget Management / Financial Controls / Leadership:

Drive financial performance on departmental operating budgets. Drive annual operating efficiency increases of /- 3%-7%, with more material step function improvements with regularity. Annual operating budget in excess of $8 million. Ensure adequate financial controls are in place through formal process engineering, re-design, and rigorous testing. Leverage internal constituencies and complementary professional disciplines (i.e. FIN, IA etc) to confirm trouble-shooting, root cause analysis, and effective corrective measures. Prevent systemic billing and reconciliation errors that could result in uncollectible receivables. Influence colleagues and other functions appropriately to ensure adequate controls are always understood, prioritized and implemented, while not overly constraining growth or flexibility around client needs. Great emphasis is placed on consistency and predictability of key operational and financial control mechanisms. Swift, judicious action must be undertaken to remedy errors and defects.

Develop and retain and increasingly talented, experienced, and engaged professional staff. Aggressively recruit and retain high performance teams with progressive industry experience. Foster a challenging and rewarding work climate while providing high degrees of personal accountability as well as career advancement opportunities.

Regulatory Compliance / WEX FSC Board of Directors

Provide leadership, governance and stewardship in role as Director, WEXBank (fka: Wright Express Financial Services Corp). Enable and advocate for success and interest of bank's" management team. Through operational role, ensure company risk policies and practices and objectives are compliant with all applicable FDIC and State of Utah compliance standards. Provide services as described under "parent company servicer agreements".

Knowledge, Skills, Abilities

Minimum Required Qualifications for Consideration

  • Bachelor's degree (B.A.) from four-year institution plus additional lending, compliance and audit related training.
  • 10-15 years experience in increasingly senior risk management, operational, corporate leadership and administrative roles
  • Minimum 8-10 years experience in bank lending, loan review and/or compliance experience or equivalent education in bank lending, loan review/compliance procedures and policies.
  • Demonstrated Financial Management experience.
  • Personal Effectiveness/Credibility.
  • Problem Solving/Analysis.
  • Presentation Skills.
  • Technical Capacity.

Preferred Qualifications

  • Master's degree in relevant field.
  • International Experience.
  • CFA & CCP Certifications a plus
  • Experience presenting to Board of Directors of a Public Company.
  • Affiliations with marquis industry organizations (CRF, NACM, IAFCA, etc).

At WEX, we reward innovation, hard work and excellence.

Benefits include:

  • 401(k) Plan
  • Adoption Assistance
  • Bonus Plan
  • Dental Insurance
  • Dependent Life Insurance
  • Employee Assistance Program
  • Employee Referral Award Program
  • Expedition - WEX's Sabbatical Program
  • Extended Parental Leave
  • Flexible Spending Accounts (Medical and Dependent)
  • Health Insurance
  • Life Insurance/AD&D
  • On Site Fitness Facility in South Portland location
  • Pet Insurance
  • Paid Time Off(PTO)
  • Short- and Long-Term Disability Programs
  • Tuition Reimbursement
  • Vision

Equal Opportunity Employer/Vets/Disability

Meet Some of WEX's Employees

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Sr. Recruiter

As a senior recruiter supporting the IT and Sales Departments, Julia spends her days sourcing candidates, reaching out to great potentials, and coordinating with her fellow recruiters to attend off-site events.

Leela M.

Software Engineer

As a member of the Core Processing Team, Leela works alongside fellow engineers to ensure that the back-end systems supporting all of WEX’s credit card transactions are functionally optimized.

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