Richard Kao Email and Phone Number

• Lead entire risk acquisitions team for private label credit card portfolios, including underwriting strategy, client strategy, portfolio monitoring and governance, and business development• Awarded Top Performer award in 2018 (recognizes top 1 percent of employees across business lines, based on criteria including leadership, teamwork, and overall performance)• Enhancing and redeveloping systemic underwriting strategies to enhance approval decisions and risk differentiation between segments of applications while removing legacy attributes and models• Leading development of risk originations strategy and credit policy for new commercial card product, including creation of new operational procedures and processes to mitigate potential risks• Developed pilot recommendation and credit proposal for expansion into new high-risk segment of healthcare industry, working with various operational areas (merchant risk assessment, disputes resolution, etc.) to identify mitigating actions for potential risks• Guided team in development of new high limit strategy to address merchant partner needs to meet customer purchase requirements; identified new systemic controls to ensure availability limited to specific clients• Identified enhancements prior to launch of shopping cart instant-prescreen process, as well as design of new batch prescreen platform to support business growth needs while ensuring appropriate risk controls were established

• Worked in various areas within Payments, Virtual Solutions, and Innovations business lines to develop and implement solutions to address various business needs• Led team in examination and identification of low-value verification and fulfillment routing rules for general purpose credit card portfolio; worked with operational teams to redesign rules and processes to further automate decisions and reduce volumes requiring manual review• Facilitated reviews with fair lending and compliance teams on usage of new alternative data score within private label portfolios

Managed end-to-end credit risk function, including originations, account management, and early delinquency, for the cards and lines of credit portfolios for HSBC North America• Developed new non-relationship lending strategy, including changes to systemic and judgmental underwriting criteria, requirements to satisfy AML and CDD and booking of new-to-country customers, as well as development of prospecting strategy for direct mail• Developed new application channel through a public website, including integration with bank systems to facilitate creation of customer profiles, real-time decisioning for online applications, new fraud tools and strategies to mitigate risks, and facilitation of additional CDD requirements• Led efforts for Risk to resolve regulatory gaps in consumer reporting bureau processes and procedures• Established model monitoring and governance process to satisfy OCC findings on risk strategy models

• Led efforts for Risk Management to convert from proprietary A/R platform to FDR, as well as customized onboarding solution to Zoot; completed transition in 9-month window• Oversaw conversion of multiple account management and collections strategies on TRIAD and Decision Systems to ACS, Pay Defender, and MLP/ALP tables for punitive pricing; also conversion of originations strategies from SMG3 to Zoot• Developed new methodologies to satisfy Regulation Z (Ability to Pay) to be utilized in proactive credit line increase campaigns; reviewed with OCC and implemented

• Led a team of analysts in monitoring performance of global wholesale and large corporate scorecards, administrating changes and coordinating with regional and country teams, and working with both primary (FSA) and regional (OCC, HKMA, etc) regulatory bodies on reviews of scorecard and global portfolio performance• Developed business plan and implemented a new offshore team to centralize wholesale model administration• Negotiated contract with Moody’s for group-wide wholesale model IRB software platform, netting a one-time cost savings of £1.5 million and an annual savings of £200,000 
• Managed rollout and implementation of IRB software platform for all HSBC regions, including training, testing, and launching of product

• Responsible for multiple functions, including design, development, implementation, and validation of credit policy and risk systems in order to manage risk of two affinity consumer receivable portfolios. Worked closely with core team partners (Marketing and Finance) to ensure development and execution of strategies. Fostered growth of team through assignment of projects that leverage individual strengths and optimized team productivity• Increased new account volume by 15% (36K incremental accounts annually) that achieved a 60% return above the campaign average by developing incremental underwriting criteria and line assignment matrices in order to approve applicants that were previously declined. After conducting pro forma analysis and using marginal segment performance to extrapolate behavior, tests were conducted and monitored to determine accuracy of pro forma forecasts. Successful tests were then rolled out for full implementation• Drove strategic change by identifying key opportunities to mitigate risk and improve portfolio profitability, through redevelopment of prescreen segmentation scheme, which aggregated similar-strength affinities into clusters, able to keep mail and account volume constant while lowering projected charge-off rates by 20% and improving profitability• Responsible for closed-end and revolving loan products offered to affinity customers within the Prime and Super Prime spaces. Addressed differences in line assignment for invitation-to-apply and prescreened channels by examining performance of booked accounts to determine if anticipated risk and utilization performance differed as expected across population; by verifying that the difference did not warrant a differentiated line assignment strategy, the two channels were collapsed into one underwriting strategy that increased efficiency and reduced operational risk

• Responsible for acquisitions of a well-established, list-based affinity portfolio with over $6B in receivables. As list was relatively stagnant due to 15 consecutive years of mailings with similar offers, focused on expanding qualification criteria to market to new customers and leveraging strength of affinity to book deeper in anticipation of higher returns• Directly managed team of five analysts responsible for Originations pre- and post-screen functions; developed rotation of projects to ensure analysts would receive exposure in both areas to enhance their development• Increased mail volume within the Super Prime space by 800K to book 2K incremental accounts per month with a projected NPV of $293 per account by changing the segmentation scheme via implementation of a usage-based model and removal of the existing response-based model. Selected populations had lower projected 5-yr charge-off dollar rate (from 5.6% → 1.1%) due to better utilization

Monitored and developed Originations strategies for large affinity portfolio, including decline criteria, initial credit limit assignment, and pricing assignment• Expanded prospecting population by leveraging full spectrum lending criteria, which amended qualification criteria by credit spectrum to allow for targeting of lower Prime customers with commensurate products• Customized strategies by originations channel, including direct mail, outbound telemarketing, alternate channel paper applications, dealer-originated, and Internet-originated

• Developed authorizations strategies for new credit card product targeted towards high wealth deposit relationship customers to ensure a positive customer experience while minimizing risk for accounts that were either severely delinquent or overlimit

Working with various municipal clients to design and develop fiber optic infrastructure to support city/county/state needs