Senior Manager of Credit Risk, Avant
$135-185k
+ This role is eligible for additional incentives, including an annual bonus
M, T, Th in-office
3 days a week in office
Personal credit FinTech
Be an early applicant
Personal credit FinTech
501-1000 employees
Be an early applicant
$135-185k
+ This role is eligible for additional incentives, including an annual bonus
M, T, Th in-office
3 days a week in office
501-1000 employees
Company mission
To empower every customer with innovative solutions designed to help them reach their goals.
Role
Who you are
- Bachelor’s degree in a quantitative major such as Statistics, Engineering, Economics, Data Science, Computer Science or related field
- 4 years of proven analytical skills in leading and/or conducting sophisticated analysis using customer performance data, bureau attributes, and other 3rd party variables to solve business problems
- 4 years of experience in the following: SQL and Python to conduct data analysis and manipulation; Communication and Presentation Skills
- 2 years of experience in driving credit risk strategy and acquisition underwriting for credit cards in new account originations for near-prime, new-to-credit and thin-file segments
- Preferred: Experience in developing credit strategies using various data sources such as cash flow data, alternative data and alternative risk scores from 3rd party vendors
- Preferred: Advanced degree (Master’s or PhD) with a quantitative major such as Statistics, Data Analytics, Mathematics, Engineering, or Computer Science
What the job involves
- The Senior Manager Card Acquisition Strategy will lead credit risk strategies for Avant’s Credit Card products and collaborate with business partners to drive revenue, control risk, and improve risk adjusted returns. They will lead/mentor analysts and play a critical role in scaling up Credit Card acquisition into newer population segments.
- The incoming leader will be responsible for leading development and implementation of Credit Card new accounts acquisition underwriting strategies that meet our risk appetite, and conducting monitoring and analysis to provide insights and recommendations for strategy enhancement opportunities.
- This role will report to the Director of Acquisition Strategy at Avant
- Develop and implement credit risk strategies that promote responsible new customer growth. Responsibilities include monitoring portfolio and strategy performance, identifying opportunities for growth within risk appetite and driving action
- Develop best-in-class risk strategies by iterating, learning, and innovating. Build pre-screen, underwriting, risk tiering, and credit line strategies. Continuously evaluate and optimize strategy performance
- Construct an evaluation ecosystem utilizing multi-product internal, credit bureau, and alternative data sources
- Identify market potential through research and analysis, considered methods include but not limited to market research, competitive research, consumer profiling, and market segmentation. Supervise financial quantitative analysts
- Collaborate with cross functional business partners on new initiatives, project requests, prioritization, and delivery
- Communicate strategies/proposals/solutions to key stakeholders
- Monitor card origination processes and performance to identify anomalies and propose solutions
- Perform new product risk analysis, stress testing and sensitivity testing
- Mentor analysts and associates on the team in technical skills and credit risk subject matter expertise
Our take
Many Americans with below average credit scores are caught in a bind: they're unable to improve their score, and simultaneously cannot access traditional loans. Avant's alternative is to offer credit options that are powered by machine learning and based upon a large database that helps to manage risk.
For its users, the company offers a quick credit decision and speedy access to any allotted funds. It has issued over $8 billion in loans to date, and has also expanded its business through the acquisitions of ReadyForZero in 2015 and Zero Financial in 2021.
This expansion has enabled Avant to reach towards its goal of offering a whole suite of products in a single platform, such as loans, credit cards, and deposits. Although there are many FinTechs looking at ways to remove the barriers that people with low credit scores face when trying to take out loans, this expansion to banking products should help Avant to stand out.
Steph
Company Specialist at Welcome to the Jungle
Insights
-3% employee growth in 12 months
Company
Funding (last 2 of 6 rounds)
Dec 2022
$125m
GROWTH EQUITY VC
Sep 2015
$325m
SERIES E
Total funding: $779m
Company benefits
- Choice of great medical, dental, and vision insurance plan options
- 401(k) Match
- Unlimited paid time off
- Flexible work environment
- Generous paid parental leave
- Lunch allowance (Fooda) and in-office snacks
- WFH stipends for our remote employees
- Access to LinkedIn Learning for professional development
- No meeting wednesdays - (a.k.a. planned time to Get Sh!t Done)
- Summer fridays
- Fun in-office and virtual social events
- (And who doesn’t love the swag)
Company HQ
River North, Chicago, IL
Leadership
Al Goldstein
(Co-Founder & Executive Chair)They worked for a year at Deutsche Bank before founding Pangea Properties in 2008, and Avant in 2013. They have been Chair since, alongside founding Amount, Spring Labs, and StoicLane.
Paul Zhang
(Co-Founder & CIO)Having studied at the University of Illinois, they spent a year as a Software Engineer at CashNetUSA and Enova Financial. They founded Debteye in 2011, before starting Avant in 2013, serving first as CTO then Chief Architect, CTO again and finally CIO.
Matthew Bochenek
(CEO)Has been with the business since 2013, working in a range of positions including Head of US Servicing, Head of Operations and COO - before becoming CEO in 2021. Previously spend a decade at Superfund Asset Management.
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