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Head of Credit

New York, New York
We are looking for our next leader to join our management team as Head of Credit. For the right person, this is an incredible opportunity to join an innovative company that has a proven track record in the emerging marketplace lending industry.
Today, we are laser focused on providing savings, simplicity, and humanity to the student loan market, both through the originations of new student loans and the refinancing of existing student loans. Our success hinges on our belief that there is a better way to deliver credit, and that all starts with leadership in how we think about and operationalize sound and innovative credit principles and analysis.
Since our founding team launched the first pilot program at Wharton in 2012, we’ve been delivering on our promise through simple but effective, rules-based underwriting principles. We’ve worked with the best minds in both traditional credit underwriting firms and those leading the way in the newer world of marketplace lending to refine these principles, and they’ve served us well: we have originated $100MM in new loans without a single default or 30 day delinquency.
We’re now in a position to build on this success and bring on board a credit leader to push us into our next phase of growth. We are moving quickly toward expanded eligibility for our loan products, and into new markets. The person we bring on will lead us down that path, making key decisions around credit eligibility and pricing, while building the analytics and data infrastructure to support those decisions.
Getting more specific, the Head of Credit will:
• Analyze historical credit data to develop and improve our models
• Analyze portfolio performance and identify opportunities for improved underwriting criteria and pricing
• Develop business cases for market expansion, including credit eligibility, underwriting, and pricing for new market segments
• This position reports to the CEO.
• Equity (stock options) is a component of the compensation package, DOE

Desired Skills & Experience

We believe the ideal candidate will have:
• 12-17 years experience with historical credit data analysis
• 5-7 years experience with financial modeling
• 5-7 years experience with portfolio analysis
• Deep experience in developing consumer credit underwriting and pricing models
• A data-driven and curious nature
• Experience in structuring data in efficient formats
• Deep experience with statistical modeling tools such as R/S-plus, or Stata
• Familiarity with other widely used related programming and database languages (e.g. Java, Python, C++, SQL) highly desirable
• Excellent communication skills
• Experience in, or proven orientation to, a small fast-moving high-growth company
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