Director of Credit Risk Analytics, Prosper Marketplace
$209-260k
+ Bonus
More information about location
Online P2P lending marketplace
Be an early applicant
Online P2P lending marketplace
201-500 employees
Be an early applicant
$209-260k
+ Bonus
More information about location
201-500 employees
Company mission
To advance financial wellbeing by providing affordable financial solutions to consumers across the credit spectrum.
Role
Who you are
- The ideal candidate is expected to bring broad and in-depth consumer lending expertise to the team, be comfortable to be hands-on to guide team to develop strategies for automated credit decisions, own the end-to-end process to ensure the credit strategies are performing as expected to support business growth while managing credit losses effectively
- They should be a passionate business and people leader who has the business acumen and domain expertise to guide team to tackle challenges in novel and effective ways
- Making better, faster and more agile risk strategies keeps our marketplace competitive and ensures that we continue to deliver on our mission of advancing financial well-being
- Master’s degree in Business, Statistics, Mathematics, Engineering or Economics
- 10+ years of experience managing credit risk in consumer lending industry
- 5+ years of people leadership experience
- Strong business acumen and extensive knowledge about credit management
- Outstanding thought leadership and skills to translate business problem into analytical problems; ability to build and enhance framework
- Exceptional communication skills in both written and oral – ability to communicate technical subject matter clearly and succinctly to other team members and Senior Management team
- A team player – collaborate with people across functions
- Business owner mentality
- Ability to work in fast-paced environment and meet deadlines without sacrificing quality
- Ability to work productively in a remote/in-person hybrid working environment
What the job involves
- The Director, Credit Risk Analytics is responsible for underwriting credit strategies and oversight of credit quality and performance of the Personal Loan portfolios
- They will be responsible for the life cycle of credit management including compliance with requirements of regulators and internal control and will recommend opportunities and propose resolutions for improved efficiency, effectiveness, and/or risk reduction for the portfolio
- They will review, analyze, and enhance the risk strategies through the use of Machine Learning models and credit data to manage the acquisition growth while delivering expected returns to the investors
- The Director, Credit Risk will work with cross-functional teams in Product, Engineering, Legal/Compliance and Marketing to deliver the credit strategies as per design
- Develop credit strategies to improve the credit performance by using data, statistical models and advanced analytics tools
- Turn findings/gaps into strategy enhancement to present recommendations to the Risk Management and broader Prosper community with the considerations of business impact and cost needed
- Maintain credit losses within the risk appetite
- Bring innovative/out of the box thinking to make recommendations and approaching/solving problems
- Design A/B tests and understand the risk-return trade-offs
- Identify and evaluate new vendors / data sources and create business cases
- Partner with Product, Marketing and Engineering teams to implement strategies and monitor the strategy performance
- Conduct ad-hoc analysis related to risk management, investor services, product, and operations
- Analyze portfolio performance at a granular segment level on an ongoing basis. Identify trends and conduct root-cause analysis to isolate key performance drivers
- Work with legal and compliance team to ensure strategies and policies comply with all the regulatory requirements
- Have experience with credit loss forecast and stress testing exercise
Our take
Prosper is a peer-to-peer lending platform, that connects investors with borrowers directly. When it launched in 2005 it was the first of its kind and paved the way for the now crowded peer-to-peer lending market, which includes competitors like Peerform, Upstart, Funding Circle and LendingClub.
The company provides an attractive option by cutting out the middleman and making applications faster, meaning that socially and financially rewarding investments can be made. Prosper is one of the largest and most recognized in this industry, having facilitated billions in loans to over two million borrowers.
In more recent years, Prosper has forged ties with banks to allow it to launch its home equity credit line, indicating a new direction for the company. It continues to develop its offering and remains a force in the market, with no reason it won't continue to succeed.
Freddie
Company Specialist at Welcome to the Jungle
Insights
2% employee growth in 12 months
Company
Funding (last 2 of 10 rounds)
Sep 2017
$50m
SERIES G
Jan 2013
$20m
LATE VC
Total funding: $153.8m
Company benefits
- Take-what-you-need (paid) vacation for salaried employees
- 20 days of PTO and 7 paid holidays/year for hourly employees
- Stock options
- 401K retirement savings plan with generous matching
- Comprehensive health, dental and vision insurance plans, with options specific to your own health coverage needs
- Prosper Fit - A monthly stipend to use for gym memberships, personal training sessions, yoga and exercise classes, or club sports/fitness fees
- Pre-tax commuter/parking assistance
- Snacks and beverage selections in our kitchen
- Monthly meet-and-greet happy hours
- Perkspot discount programs
- One Medical
- SF Location - Rooftop deck with ping-pong and foosball table
Company values
- Accountability
- Collaboration
- Excellence
- Diversity
- Simplicity
- Integrity
Company HQ
The East Cut, San Francisco, CA
Articles
Leadership
David Kimball
(Chairman & CEO)Having studied for an MBA at Brigham Young University, David worked in Management at Ford Motor Company for over 10 years, prior to spending another decade at USAA. He left his role as CFO and COO to join Prosper Marketplace in March 2016 as CEO and Chairman.
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