Credit Risk Manager
Posted on 2/17/2021
At Figure, we’re on a mission to transform financial services through blockchain, bringing speed, efficiency and savings to both consumers and institutions.
Accomplishing this kind of transformation requires building really big things. And we understand that building big requires a creative, team oriented and supportive environment where everyone can do their absolute best work. The Figure team is comprised of incredibly driven, innovative, collaborative and curious people who love architecting and building from scratch. Everyone at the company is encouraged to be an individual contributor but also a team collaborator.
We value team members who bring an entrepreneurial mindset to every task and will embrace our culture of innovation. Every day at Figure is a journey in continuous learning yet a daily focus on getting work done that makes a difference.
This is an opportunity to work with a team of proven leaders who have already created billions of dollars in value in the Fintech space. Join us!
About the Role
We are looking for a Credit Risk Manager to join our growing team! You will be responsible for driving cutting edge analytics to uncover data insights and transform them into actionable business decisions. The role presents an excellent learning opportunity to work on a collection of lending products including personal loans, home equity lines of credit, and residential mortgages while you will be accelerating growth in a fintech start up. In this highly visible role, you will be self-driven and passionate about lending economics, delivering great value to our forward flow investors, and being an excellent partner to a range of cross-functional units including Product, Engineering, Capital Markets, Compliance, and Operations. You will also be collaborating heavily with our Data Science team to develop and deploy credit underwriting solutions that constantly adapt to changing macro environments and consumer trends. Your analytical focus will be combined with creative problem solving as we are constantly on the lookout for innovative data sources and solutions to comprehensively understand our customers’ needs and preferences. You will also be responsible for managing the company’s credit policies and advising partners on its interpretation and implementation. This role reports to the Senior Director of Risk and will work with stakeholders at all levels to develop credit and pricing strategy, advise on execution and drive portfolio monitoring.
What You’ll Do:
- Lead efforts to constantly innovate, iterate and improve credit underwriting and pricing strategies in multiple lending products
- Use analytical techniques to develop insights from historical loan performance data, identify opportunities to underwrite new customer populations and provide better credit solutions to our existing customer base
- Develop valuation models to estimate unit economics of customer segments and advise the Capital Markets team on performance assumptions and projected yield
- Work with the Marketing team to understand the impact of credit policies in the customer acquisition funnel and identify opportunities to enhance conversion
- Conduct loss forecast analyses on various parts of the loan portfolio
- Develop sizing for credit expansion opportunities to support prioritization decisions and ultimately the growth strategy for the company
- Present Figure’s underwriting approaches to existing and potential forward flow investors, and address their concerns on an ongoing basis
- Share insights into credit losses with the Fraud risk management team to allow for appropriate focus on customer defaults
- Design and deploy monitoring frameworks to assess the performance of new product launches and existing customer portfolios, and advise senior management of emerging trends and risks
- Partner with the Legal and Compliance team to ensure strategies and policies comply with all applicable regulatory requirements
- Conduct other ad hoc analyses as required to support the Credit team’s goals
What we look for:
- Bachelor/Master’s degree with a quantitative background (e.g. Statistics, Math, Engineering, Economics)
- 5+ years of experience in credit risk management, preferably in the consumer credit industry
- Strong analytical and problem-solving skills, combined with solid business judgment
- Exceptional written and communication skills, and ability to concisely explain complex insights to a range of audiences
- Self-driven, with intense focus on results
- Strong team player and comfortable interacting with partners across multiple teams and at varying levels of seniority
- Strong technical skills such as SQL, R/Python, and ability to independently access and analyze relational data sets
- Knowledge and experience with statistical analysis techniques and customer segmentation
- Experience with data visualization tools (like Tableau)
- Ability to thrive in a fast-paced startup environment
Benefits To You
- Competitive salary based on experience and skills
- Firm-wide performance based bonus
- Competitive stock options package as an early member of the team
- A flexible paid time off and vacation policy
- Comprehensive health, vision, dental insurance
- Company FSA, 401k, commuter benefits
- And much more to come!
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Figure will not sponsor work visas for this position. In compliance with federal law, all persons hired will be required to verify identity and eligibility to work in the United States and to complete the required employment eligibility verification form upon hire.