Director of Credit Risk & Analytics, Upgrade
$180-220k
+ Stock option plan + Bonus
Offering responsible credit to mainstream consumers
Open for applications
Offering responsible credit to mainstream consumers
1001+ employees
Open for applications
$180-220k
+ Stock option plan + Bonus
1001+ employees
Company mission
To help our customers move in the right direction with responsible financial products that put more money in their pocket.
Role
Who you are
- Background: Bachelor’s degree in Finance, Economics, Business Administration, Statistics, Computer Science or a related field
- Experience: 5+ years of proven experience in Analytics domain in an at scale technology, start-up or high-growth company, preferably in short to mid-duration installment loans in Retail sector
- Analytical Skills: Strong analytical skills with the ability to interpret & visualize complex data and draw meaningful conclusions
- Attention to Detail: Meticulous attention to detail in reviewing documentation and assessing credit risk
- Knowledge: Familiarity with credit risk management principles, regulatory requirements, and industry best practices. Knowledge and experience in statistical procedures, decision trees, and financial analysis tools
- Communication Skills: Excellent verbal and written communication skills to effectively convey credit decisions and recommendations
- Adaptability: Ability to thrive in a fast-paced environment and manage multiple priorities effectively
- Tools: Working knowledge in SQL and R/Python required, Tableau preferred. Comfortable working with Microsoft Office Suite. Experience exploring new tools and methodologies to solve real-world problems
What the job involves
- We are seeking a Director, Credit Risk & Analytics (Retail short-mid duration installment loans) to join our innovative & fast-growing Flex Pay team at Upgrade, a leading fintech company specializing in consumer finance
- In this position, you will play a pivotal role in risk assessment of applicants and ensuring responsible lending practices
- Your insights and recommendations will directly influence our ability to provide accessible and fair financial solutions to our customers
- Risk Assessment: Design & implement strategies and analytical frameworks to evaluate applicant risk using various financial data sources/ proprietary scoring models and underwriting guidelines
- Decision Making: Own underwriting policy changes end to end including business intent definition, collaboration with engineering/product teams to implement and monitor the business intent, and performance monitoring
- Policy Adherence: Ensure compliance with regulatory requirements and internal policies throughout the underwriting process
- Documentation/Automation: Document and automate analytical frameworks and processes to reduce onboarding times for new team members as we grow
- Collaboration: Collaborate with other departments including Sales, Engineering, Product, Operations, Finance, and Legal to streamline processes and enhance customer experience
- Monitoring & Reporting: Monitor loan portfolio performance and conduct periodic reviews to manage risk exposure effectively. Develop/manage periodic reporting templates to Senior Management, and Upgrade Lending Partners
- Merchant Monitoring: Monitor performance and profile at a merchant level to drive insights/decisions around merchant pricing and underwriting policy
Our take
Most credit cards don't encourage the owner to pay down their debt. The longer it takes to pay off the balance, the more money lenders are set to make. Upgrade is an online lender and card issuer doing things differently. The company offers personal loans and credit cards but with a fixed instalment structure and a set number of equal payments. This ensures the balance reduces every month.
The company believes this model reduces default rates, as borrowers are forced to pay down rather than maintain their debt, and it encourages a greater commitment to repay the balance. Further, by combining the ease of a Visa card with the fixed payments and decreased rates of a personal loan, Upgrade sets itself apart from competitors.
In 2021, Upgrade launched its mobile banking and debit card as a strategy to onboard new customers and increase loyalty. The fixed-rate nature of the company's cards is expected to be of use to customers in future years in an environment of rising rates. Upgrade also plans to expand beyond the U.S. in the future, which will represent new challenges for the business as it adapts to alternative regulations.
Kirsty
Company Specialist at Welcome to the Jungle
Insights
Some candidates hear
back within 2 weeks
18% employee growth in 12 months
Company
Funding (last 2 of 5 rounds)
Nov 2021
$280m
SERIES F
Aug 2021
$105m
SERIES E
Total funding: $547m
Company benefits
- Stock option plan
- 100% paid coverage of medical, dental and vision insurance
- Flexible PTO
- Opportunities for professional growth and development
- Paid parental leave
- Health & wellness initiatives
Company values
- Help: We help each other. We trust and care about each other. We welcome all team members and value the diversity of our team
- Improve: We are always learning. We are curious and ask why. We are open-minded and consider new ideas. We continually look to improve the way we operate
- Fast: We move fast. We launch products and process early, then test and iterate. We think ahead so that we are not rushing into things we are not prepared for. We work together to fix anything that breaks
- Own It: We act as owners. We enlist the help we need and follow through to the end. We acknowledge our mistakes and learn from them. We hold ourselves accountable as a team to reach our goals
Company HQ
Financial District, San Francisco, CA
Articles
Leadership
Renaud Laplanche
(Co-Founder & CEO)After an MBA at London Business School, Renaud spent 5 years as an Associate at Clearly Gottlieb Steen & Hamilton and co-founded MatchPoint. They then left Oracle after a year to co-found Lending Club in 2006 and co-founded Upgrade in August 2016.
Adelina Grozdanova
(Co-Founder & Head of Investor Group)Adelina started their career with 6 years at Morgan Stanley after a degree at Princeton. They left banking in 2012 to join Lending Club as VP, and after 3 years co-founded Upgrade, serving as Head of Investor Group since 2016.
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