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Senior Manager, Loss Forecasting

Figure

Figure

San Francisco, CA, USA
Posted on Tuesday, June 11, 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 Senior Manager, Loss Forecasting to join our growing team! You will be responsible for the design, development, and implementation of firmwide quantitative models and algorithms. You will lead the research and development of proprietary models to support the company's lending strategies. This includes developing and maintaining mortgage models across product sectors (e.g. non-QM and home equity), and providing comprehensive analytics (default, prepay, severity, and transition models) for calculating portfolio-level risk and returns.

This is a small team, and any candidate must be a team player, able and willing to work on cross-over projects, able to pick up complex concepts, and communicate effectively to both internal and external constituents. The ideal candidate will be intellectually curious, a self-starter, have a strong attention to detail, and be able to work under time-sensitive deadlines.

What You’ll Do

  • Create, implement, and manage a comprehensive modeling framework from the ground up.
  • This unique opportunity is equal parts modeling as it is transformation management. The successful candidate will have a deep understanding of how forecasting/credit models work and the ability to capture evolving business strategies or exogenous events into the model.
  • Lead the curation and analysis of pertinent data for forecasting and tuning models.
  • Explain the variations in forecast model outputs based on portfolio trends, planned business actions, and model components/assumptions.
  • Understand how inputs and outputs are generated and modify inputs and output for what-if scenarios or regression testing of the models.
  • Manage various monthly and quarterly reporting and commentary including slide and deck preparation with attention to accuracy and deadlines.

What We Look For

  • Advanced degree in Mathematics, Physics, Computer Science, Financial Engineering, or a related field.
  • Experience: Minimum of 5+ years of experience in a quantitative role in a financial services company
  • Experience with financial modeling or in the financial industry is a must.
  • Strong programming skills in at least one language, such as Python, R, C++, or Java.
  • Familiarity with big data manipulation and analysis tools (e.g., SQL, Spark, Hadoop) along with experience building and implementing models in a cloud-based environment (e.g., Azure, AWS, etc.).
  • Experience with machine learning, data mining, econometric modeling, and general statistical modeling.
  • Understanding of prepayment, default, and loss models.

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 $152,000-192,500 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.

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