Consumer Credit Risk Director, Lending Club
$182-215k
More information about location
3 days a week in office
Online personal loans
Open for applications
Online personal loans
1001+ employees
Open for applications
$182-215k
More information about location
3 days a week in office
1001+ employees
Company mission
To transform the banking system to make credit more affordable and investing more rewarding.
Role
Who you are
- 10+ years of progressive experience in financial services and credit risk management, with emphasis on unsecured consumer lending
- Functional consumer analytics practitioner with strong analytical skills, sound credit judgment, keen understanding of value drivers and domain knowledge in consumer credit risk management
- Rigorous analyst, adept synthesizer and very articulate written & verbal communicator
- Effective collaborator, negotiator and team player with a versatile interpersonal and influencing style
- Operator with keen attention to detail, results-orientation and strategic mindset
- High level of proficiency with SQL, Python & Tableau
- Bachelor's degree or higher in quantitative discipline (engineering, finance, economics); or equivalent work experience
What the job involves
- We are looking for a Consumer Credit Risk Director to join the Consumer Credit Risk Management Team. In this role, you will assist in credit risk management oversight of the consumer lending portfolios, as well as providing independent review of the capital stress testing and credit loss allowance process
- Assist in the development, enhancement and ongoing embedment of preventive & detective control systems for robust early warning and monitoring of loan performance and asset yield across the various consumer lending segments – personal lending, auto-refinance and point-of-sale purchase finance
- Provide independent review & credible challenge of credit extension, pricing and collections strategy proposals within the consumer bank
- Ensure safe & sound lending in the personal loan, point-of-sale finance and auto refinance business segments
- Coordinate credit administration across the Bank including but not limited to credit risk committee meetings and ongoing review & refresh of the Bank’s consumer credit policy, standards, risk appetite and concentration limits
- Ensure timely and accurate completion of all Credit Committee, Board and regulatory reporting from a credit risk perspective
- Provide leading-edge credit risk identification & mitigation, with forward-looking & actionable insight for management
- Provide thought leadership and partner with cross-functional groups to evaluate new product development initiatives
- Participate in industry roundtables to keep abreast of industry standards and best practices
- Assist in preparation for regulatory exams
- Collaborate with cross-functional partners in large scale change initiatives
Our take
Lending Club is a digital bank offering personal loans, auto loan refinancing, and debt consolidation to help individuals manage their finances. It provides flexible loan terms and competitive rates for a variety of needs, as well as high-yield saving and cash-back checking accounts, designed to help customers grow their money.
Focusing on digital solutions, Lending Club removes traditional brick-and-mortar branches, passing the savings on to customers through low fees and better rates. It connects borrowers with investors in a marketplace model and offers fast loan approvals and competitive interest rates.
To bolster its offering, the company acquired Tally Technologies' intellectual property (IP) to enhance its credit management services. It continues to develop and enhance its products and improve customer engagement in a bid to become a "top of mind" company with more active users.
Freddie
Company Specialist at Welcome to the Jungle
Insights
-8% employee growth in 12 months
Company
Funding (last 2 of 8 rounds)
Apr 2014
$65m
GROWTH EQUITY VC
Nov 2013
$57m
GROWTH EQUITY VC
Total funding: $332m
Company benefits
- Untracked vacation for salaried employees, which means take it when you need it, and generous paid time off for hourly team members
- A hybrid work model that balances in-office and work from home
- Leading health and safety protocols related to COVID, including complimentary at-home testing kits from Cue Health for those coming to the office
- Up to 16 weeks paid leave for new parents, plus a fully paid, phased return-to-work policy for qualified leaves
- Mothers Rooms and hospital-grade pumps in every LC office
- Generous and varied mental health benefits
- Wellness program with cash incentives — earn up to $75 per month for being active
- Paid volunteer time and donation matching
- Onsite gym, locker room, bike room, and fitness classes (depending on location)
- Café with our own in-house barista
- Stocked pantries with healthy snacks and drinks
- Technology-forward and collaborative office spaces
Company HQ
South Beach, San Francisco, CA
Leadership
Scott Sanborn
(CEO)Previously held leadership positions as the Chief Revenue Officer for publicly traded eHealth Insurance, President of RedEnvelope, Inc., and SVP at the Home Shopping Network. Joined LendingClub in 2010 and has worked as Chief Marketing Officer, Chief Operations Officer, and President before becoming the CEO in 2016.
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