Director, Credit Risk

Overview

This role involves leading the credit risk function for lending products including Personal Loans, Student Loan Refinances, and Private Student Loans. The Director of Credit Risk will develop, deploy, test, monitor, and optimize credit strategies to maximize lending revenue responsibly within the organization's risk appetite.

Responsibilities

• Lead the design and implementation of data-driven credit strategies for pre-screening, underwriting, risk tiering, loan amount assignment, and verifications.
• Analyze industry lending products, applications, and portfolio performance to drive optimal returns.
• Partner with Data Science to develop machine learning risk models.
• Collaborate cross-functionally to deploy new strategies and evaluate new data sources and models.
• Establish target metrics and continuously monitor portfolio and strategy performance.
• Identify gaps and solve business problems related to credit risk.
• Lead monitoring analyses and identify opportunities for continuous improvement.
• Improve existing processes and funnel conversions.
• Communicate results, insights, and recommendations to senior leadership and business partners.
• Lead, support, and develop team members; participate in hiring and mentoring.
• Manage multiple projects with cross-functional stakeholders, set priorities, and meet deadlines.
• Provide insights into product design to align with risk tolerance.
• Work with Product and Analytics teams to build experiments driving risk-adjusted returns.
• Coordinate with Capital Markets, Analytics, and FP&A teams to ensure portfolio performance expectations.
• Develop diligence materials for business transactions and provide analysis to management and external ratings agencies.

Requirements

• Master's degree in Finance, Mathematics, or a closely related field.
• Minimum 7 years of experience as a risk manager or in a related role within the consumer lending industry.
• Extensive experience (7 years) in:
  • Developing data-driven credit strategies for lending products.
  • Modeling techniques including decision trees, logistic regression, gradient boosting, and other machine learning models.
  • Analyzing customer performance data, bureau attributes, and third-party variables.
  • Building underwriting risk scores.
  • Cash flow financial modeling and lending product P&L evaluation.
  • Loss forecasting methodology and portfolio management.
• Proficiency in Excel, SQL, and Python.
• Experience with A/B testing.
• Familiarity with business intelligence tools such as Looker or Tableau.

Compensation & Benefits

• Salary: $298,022 per year.
• Health, dental, and vision benefits plus savings plans.
• Mac computer and work-from-home stipend.
• Monthly internet and phone reimbursement.
• Employee Stock Purchase Plan and Restricted Stock Units (RSUs).
• 401(k) plan with company match.
• Tuition reimbursement program.
• $1,000 travel perk annually.
• Competitive paid time off and parental leave.

Location

• Position is 100% remote but requires residence in the Oakland, California area.
• Telecommuting permitted up to five days per week.

The organization is an equal opportunity employer committed to diversity, inclusion, equity, and belonging. Qualified applicants with criminal histories will be considered in accordance with applicable laws.