Responsible for managing and crafting risk strategies along with developing and tracking appropriate metrics. Identify existing and emerging drivers of risk to drive guardrail design and manage credit risk through crafting strategies adapting to changing economic environment. Develop, implement, and handle credit risk strategies that involve elements of credit underwriting, pricing based on an estimation of probability of default. Develop and implement the underwriting and pricing strategy for LendingClub's credit verification policy across all Products. Responsible for underwriting strategy proposal and signoff by all relevant parties. Responsible for developing pricing strategy and signoff from pricing committee. Find opportunities to improve yield for the investors while maintaining reasonable loss rate as well as improve financial performance of LendingClub. Monitor returns monthly for all Products. Identify areas of underperformance and make recommendations to improve. Design A/B tests to help understand risk return tradeoffs using hypothesis testing frameworks. To stay informed and maintain an optimal pricing strategy, develop and design ongoing pricing tests to measure borrower's elasticity. Design tests by using levers like showing loan offers with lower monthly payment or longer term or multiple loan amounts or multiple terms etc. Craft automated dashboards to track KPIs around funnel conversion and strategy/portfolio performance; summarize and present findings to senior management. Creation of monthly standard reporting dashboards that can be accessed by senior leaders. Draw insights and convert to a monthly reporting deck that is presented to the risk committee. Use analytical techniques to mine loan performance data and identify pockets of underperformance and conduct root cause analysis to help recommend risk mitigation strategies. Monthly default and delinquency monitoring of the booked vintages. Make recommendations to policy when actuals don't match forecast. Explain reasons for variance. Collaborate with Marketing and Product to optimize conversion. Work closely with marketing for areas of population or partners where funnel conversion is low. Recommend policy changes to improve funnel conversion. Measure credit expansion opportunities to optimize risk-adjusted revenue. Measure the impact of various tests implemented on a regular basis. Active participant on cross functional working teams discussing expansion opportunities. Expand existing set of data used in credit decisioning process by evaluating information; value of non-traditional data sources and by reengineering use of existing data elements. Responsible to challenge the status quo and explore avenues of opportunities to develop robust credit risk strategies by mining new data sources or elements (e.g. multiple bureau information or factor trust data, ACH data) as applicable and available. Continue to mine existing data elements to derive attributes that are more meaningful and help tap into borrower's credit profile. Work closely with technology teams to ensure new strategies are implemented accurately and as designed. Aid implementation of policy changes through submission of a business requirement document to the implementation team. Work with the implementation and QC teams to ensure testing of the proposed changes is complete and follow it through validation post implementation. Alerting senior leaders when a discrepancy is found and there is no simple answer. If there is a simple answer document it for audit. Perform strategic and various ad hoc analysis for senior executives - formulate hypotheses, gather data to support them, and present findings. Respond to requests from senior leaders about the business or issues as they arise.
MINIMUM REQUIREMENTS: Master's degree in Statistics, Business Analytics, Engineering, Financial Technology, or related quantitative/analytical field, plus 1 year of work experience in the job offered, or in a related occupation.
SPECIAL REQUIREMENTS: Must possess training or experience in each of the following:
Structured Query Language (SQL) and relational database management system (RDBMS);
Developing interactive dashboards and data visualizations with Tableau;
Statistical modeling using R;
Experimental Design, including A/B Testing and Scenario Analysis;
Regression Modeling, including statsmodels and Scikit-learn;
Microsoft Excel for data analysis, including VLOOKUP, SUMIFS, INDEX/MATCH, and pivot tables.
Employment and background checks may be required.
To apply, visit: https://www.jobpostingtoday.com/application/84806/apply
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