Director of Loss Forecasting (FinTech)
At OnDeck, we make small business a big deal. We’re improving the world’s economic landscape by changing the way small businesses access capital. We care intensely about each other, our company and the customers we serve, and are committed to making every day count.
The Risk Management team creates competitive advantage for OnDeck through excellence in risk/reward optimization while simultaneously exercising its function of control in a vigorous and diligent fashion. The Risk Management team develops strategies and models to extend credit in a profitable manner to small businesses and their owners based on a strong understanding of the behavioral and commercial drivers of its customers and on sophisticated analysis of data. As the control function of OnDeck, the Risk Management Team ensures that the portfolio, policies, strategies, new product features or operational processes at OnDeck are consistent with the risk appetite set by the management team and the board.
The Director of Loss Forecasting is responsible for the development, management and presentation of Monthly and Quarterly Loss Projections for our Small Business Loan portfolio. Core responsibilities include lead analysts in reviewing credit analytics models used in loss projections, conducting attribution analysis on key drivers of loss, and discuss loss projections with internal and external stakeholders. Note that this is not purely a model development role; while it requires a deep knowledge of loss projection in a statistically driven portfolio, it also requires leadership and management abilities.
The role directly reports to the Head of Portfolio Management at Ondeck Capital. The Portfolio Management team is responsible for all aspects of the loans originated by OnDeck, post origination. Internally, you will work closely with Accounting, Financial Planning and Analysis, Acquisitions Risk Strategy, and Sales teams. The leader who fills this position will be expected to support senior management requests for enhancement to loss projection process and independently handle relationship and requests from the external auditor. He or she will also actively monitor and implement controls and documentation procedures for loss reserving.
In addition to achieving these business objectives, the individual hired into this role will be responsible for establishing best practices and tools that will allow OnDeck to efficiently manage its loss reserve process.
As the Director of Loss Forecasting at OnDeck, you will:
- Design, implement, monitor and upgrade loss forecast models, model execution framework, reporting platform, data sourcing, and control framework
- Liaise with technology, model development, model review, accounting policy, and external audit
- Present to the C-suite and external auditor and provide thought leadership on loss reserving
- Analyze, Attribute and Act on changes to the loan portfolio reserves including: risk grade methodology, loan churn and credit quality analysis; results attribution to core loss estimate parameters (PD, LGD, EAD, macroeconomic data etc)
- Work in a nimble and fast-moving Fintech organization where you will need to translate business needs into technology requirements and specifications
- Manage and mentor of team of 2-4 modelers and risk analysts
Required Qualifications:
- 15+ years of credit risk management in a lending environment
- Excellent communication and presentation skills and ability to independently manage loss reserve process
- Strong quantitative ability with some exposure to R and/or Python, and SQL.
- Detailed understanding of industry standard loss reserving processes
- Familiarity with credit risk modeling and/or financial services accounting standards and controls frameworks
- Understanding of technology and business process integration with credit risk management practices
- Successful candidates must demonstrate intellectual curiosity to ask meaningful questions, and work with minimal daily supervision
- Mentor and lead 2+ modelers
About OnDeck:
As the largest online small business lender in the U.S. serving more than 700 different industries, we have been trusted by over 80,000 small businesses by providing them with a term loan or line of credit to help them build growing and thriving enterprises. Since 2007, we’ve issued over $8 billion in capital.
Join us as we enable small businesses to achieve their goals. At OnDeck, we’re reinventing small business financing. We care intensely about each other, our company and the customers we serve, and are committed to making every day count. We are small enough to be nimble and strong enough to make a big impact.
Benefits for you:
OnDeck believes that each and every team member plays an important role in our company’s success. That’s why we strive to provide you and your family with a competitive and comprehensive benefit program with a variety of options and opportunities. We offer:
- Generous Vacation
- Comprehensive Healthcare
- Educational Reimbursement
- 401k Matching
- Parental Leave
- Sports Teams
- Stocked Kitchens
- Loan Consolidation
We are going to ask you to talk about your accomplishments. Here are some of ours:
- WorldatWork, 2017 Seal of Distinction
- Fortune 50 Best Workplaces for Diversity, 2016
- Fortune 50 Best Small and Medium Companies to Work For, 2016
- Fortune 30 Best Workplaces in Finance and Insurance, 2016
- Built in Colorado, Top 100 Digital Companies in Colorado, 2015, 2016, 2017
- Crain’s New York Business Fast 50, 2013, 2014, 2015, 2016, 2017
- Fortune and Great Place to Work 100 Best Workplaces for Millennials, 2015
- Fortune/Great Place To Work Great Rated! People’s Picks: 20 Great Workplaces in Financial Services, 2015
- Crain’s New York Best Places to Work, 2013, 2014, 2015
- Colorado SHRM Best Companies to Work For in Colorado, 2015
- Forbes’ America’s Most Promising Companies, 2013, 2014
- Selling Power Magazine Best Company to Sell For, 2013, 2014, 2015, 2016, 2017
- 500|5000, 2013, 2014
As part of our dedication to maintaining an inclusive and diverse workforce, OnDeck provides equal employment opportunities (EEO) to all employees and applicants for employment without regard to race, color, religion, sex, national origin, age, disability or genetics. In addition to federal law requirements, OnDeck complies with applicable state and local laws governing nondiscrimination in employment in every location in which the company has facilities. This policy applies to all terms and conditions of employment, including recruiting, hiring, placement, promotion, termination, layoff, recall, transfer, leaves of absence, compensation and training.
OnDeck expressly prohibits any form of workplace harassment based on race, color, religion, gender, sexual orientation, gender identity or expression, national origin, age, genetic information, disability, or veteran status. Improper interference with the ability of OnDeck’s employees to perform their job duties may result in discipline up to and including discharge.
**No external recruiters or agents, please.**