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Credit Risk Manager



New York, NY, USA
Posted on Friday, May 31, 2024

About Figure

Figure is revolutionizing financial services with its disruptive, scaled, and rapidly expanding technology platform. By capitalizing on the loan origination activities on its platform and extensive network of partners, Figure is poised to deliver and scale new products that enhance efficiency and transparency in the industry. Through the integration of cutting-edge technology, Figure’s platform fosters more transparent and efficient capital markets, bolstered by the growing pool of assets originated on its platform. This transformational journey is fueled by a dedicated team at Figure, characterized by their drive, innovation, collaboration, and passion for building from scratch. We value individuals who bring an entrepreneurial mindset to every task and will embrace our culture of innovation.

Every day at Figure is a journey in continuous learning yet a daily focus on getting work done that makes a difference. Join a team of proven leaders who have already created billions of dollars in value in the financial technology space.

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About the Role

We are looking for a Credit Risk Manager to join our growing team! You will drive cutting-edge analytics to uncover data insights and transform them into actionable business decisions. The role presents an excellent learning opportunity to work on home equity lines of credit, where you will be accelerating growth in a mature fintech start-up. In this highly visible role, you will be self-driven and passionate about lending economics, delivering great value to our investors, and being an excellent partner to a range of cross-functional units including Product, Engineering, Capital Markets, Compliance, and Operations.

Your analytical focus will be combined with creative problem-solving as we are constantly on the lookout for innovative data sources and solutions to comprehensively understand our customers’ needs and preferences. You will also be responsible for managing the company’s credit policies and advising partners on its interpretation and implementation. This role reports to the Senior Director of Risk and will work with stakeholders at all levels to develop credit strategy, advise on execution, and drive portfolio monitoring.

What You’ll Do

  • Lead efforts to constantly innovate, iterate, and improve credit underwriting in lending products
  • Use analytical techniques to develop insights from historical loan performance data, identify opportunities to underwrite new customer populations, and provide better credit solutions to our existing customer base
  • Collaborate with Capital Markets and Business to estimate unit economics of customer and risk segments to support changes in credit box
  • Work with the Marketing team to understand the impact of credit policies in the customer acquisition funnel and identify opportunities to enhance conversion
  • Develop sizing for credit expansion opportunities to support prioritization decisions and ultimately the growth strategy for the company
  • Present Figure’s underwriting approaches to existing and potential investors, and address their concerns on an ongoing basis
  • Share insights into credit losses with the Fraud risk management team to allow for appropriate focus on customer defaults
  • Design and deploy monitoring frameworks to assess the performance of new product launches and existing customer portfolios, and advise senior management of emerging trends and risks
  • Partner with the Legal and Compliance team to ensure strategies and policies comply with all applicable regulatory requirements
  • Conduct other ad hoc analyses as required to support the Credit team’s goals

What We Look For

  • 5+ years of experience in credit risk management, preferably in the consumer credit industry
  • Bachelor/Master’s degree with a quantitative background (e.g. Statistics, Math, Engineering, Economics)
  • Strong analytical and problem-solving skills, combined with solid business judgment
  • Exceptional written and communication skills, and ability to concisely explain complex insights to a range of audiences
  • Strong team player and comfortable interacting with partners across multiple teams and at varying levels of seniority
  • Strong technical skills such as SQL, R/Python, Tableau, and the ability to independently access and analyze relational data sets
  • Knowledge and experience with statistical analysis techniques and customer segmentation
  • Benefits and Perks
  • Competitive salary and growth opportunities
  • Company quarterly performance based bonus
  • Equity stock options package
  • Employer funded comprehensive health, vision, dental insurance and wellness program for employees and their dependents
  • Employer funded life and disability insurance coverage
  • Company HSA, FSA, Dependent Care, 401k, and commuter benefits
  • Up to 12 weeks paid family leave
  • In office, remote, and hybrid work location options
  • Home office and technology stipend for those working outside of a traditional office more than 75% of the time
  • Flexible time-off plan to empower employees to take the time off that they want and need
  • Continuing education reimbursement
  • Routine Team swag deliveries!

For CO, NY, CA, and WA residents, the salary range is $110,000.00- $137,500.00 with up to a 25% Bonus and Equity. Actual compensation may vary based on individual candidate experience and location.

Depending on your residential location certain laws might regulate the way Figure manages applicant data. California Residents, please review our California Employee and Prospective Employee Privacy Notice for further information. By submitting your application, you are agreeing and acknowledging that you have read and understand the above notice.

Figure will not sponsor work visas for this position. In compliance with federal law, all persons hired will be required to verify identity and eligibility to work in the United States and to complete the required employment eligibility verification form upon hire.