Head of Credit Risk, Earnest
$180-235k
+ Employee Stock Purchase Plan
More information about location
Student loan provider
Open for applications
Student loan provider
201-500 employees
Open for applications
$180-235k
+ Employee Stock Purchase Plan
More information about location
201-500 employees
Company mission
To make higher education accessible and affordable for everyone.
Role
Who you are
- 15+ years of experience in risk management roles within fintech or banking industry lending, risk management, risk analytics, credit, data science, fraud or information management
- 10+ years personnel management experience, experience managing managers is preferred
- Knowledge of applicable laws and regulations governing the lending industry, including regulatory compliance experience
- Proven track record of developing and implementing effective risk management strategies
- Strong understanding of credit risk modeling, regulatory compliance and risk mitigation strategies
- Deep understanding of loss forecasting modeling techniques and risk mitigation strategies
- Experience and knowledge of the development and deployment of credit workflows
- Willing to travel to the Oakland or Salt Lake City office monthly to collaborate with other Earnies
Desirable
- Experience managing 3rd party decision engines, building workflows, and integrating 3rd party data providers to increase auto approval rates
- Experience collecting or deploying strategies to improve collections on pre and post-default accounts
- Student loan experience
- Experience with Alloy, FNI, or Provenir
- SAS, SQL, Python experience
- Ability to build and deploy underwriting models
- Ability to build default and recovery models
What the job involves
- The Head of Credit Risk position will report to the Chief Operating Officer
- Be responsible for leading, motivating, and managing a high-performing risk organization
- Oversee credit risk policy and the credit risk assessment process, including the development of risk models, scoring systems, and underwriting criteria
- Oversee the company's credit risk management strategy and promote a strong credit risk culture that aligns risk management efforts with overall business objectives
- Prepare and present comprehensive risk reports to executive leadership and other relevant stakeholders
- Represent the organization in discussions with regulators, auditors, capital suppliers, investors, bank partners, and other external stakeholders on matters related to credit risk management
- This role involves attracting, growing, and inspiring a skilled team, fostering a collaborative and innovative environment, and driving strategic use of data to monitor and implement risk mitigation strategies
- Drive innovation in risk management practices by staying informed about industry trends, emerging risks, and new technologies, and integrating best practices into the company’s risk framework
- Drive continuous improvement initiatives to enhance the effectiveness and efficiency of credit risk management systems and processes
- Foster a culture of risk awareness and compliance throughout the organization, promoting a proactive approach to identifying and mitigating credit risks
Our take
Earnest offers student loan refinancing and personal loan products. It looks at thousands of data points such as education, saving patterns, investments, and career trajectory to issue a unique credit score, which can prove a lifeline for students who may otherwise struggle to qualify for loan refinancing.
For the portion of student debtors with low credit scores, Earnest is one of a few scant options. Borrowers can choose their own loan terms to fund up to the full cost of their education, and there are no origination, application, or late fees.
Earnest has grown from distributing $8M loans in its first year of business to an impressive total $18.5 billion in student loans refinanced, and has served upwards of 200,000 people. With student loans representing such a huge sector of lending, there should be plenty of room for Earnest to continue expanding in the future.
Kirsty
Company Specialist
Insights
Some candidates hear
back within 2 weeks
4% employee growth in 12 months
Company
Funding (last 2 of 4 rounds)
Mar 2017
$20m
SERIES C
Nov 2015
$75m
SERIES B
Total funding: $127m
Company benefits
- Remote-first flexibility
- Monthly & annual remote work stipends
- Professional development & tuition reimbursement
- $1000 annual travel perk
- Robust 401K package
- No meeting Thursdays
- Annual company-wide offsites
Company values
- Earn Happy Customers - Our customers’ journey is ours to share. Our success comes from anticipating their needs and providing the solutions they’re looking for. This combination of empathy and action helps them become our best endorsers and biggest fans.
- Better is Better - The path to great means getting better every day. We push ourselves, and each other, to remain curious and think differently. We know the value of compounding and how continuous 1% improvement leads to massive changes. We are always willing to challenge the status quo in order to achieve our goals.
- PhD in Moving Fast - Our customers are tired of long wait times and large student loan bills so we constantly seek out ways to deliver faster. We refuse to waste time on things that don’t move the needle and we surprise teammates and customers with our speed.
- Passion for Challenges - Perseverance and optimism are just the start to take on the inertia of a national trillion-dollar problem. We enjoy tough challenges knowing that if we persist through them we will make a difference.
- Impact is a Team Sport - We maximize our impact when we act as one team. We each play our part and put team success above personal achievement. Earnies are willing to do what it takes to make the team better even though it may be uncomfortable for ourselves.
Company HQ
The East Cut, San Francisco, CA
Articles
Leadership
Louis Beryl
(CEO)Co-founded SolidEnergy Systems. Was a Part-time Partner at Y Combinator. Is a Board Member of Car Dash and Roofr, and is a Mentor at First Round Fast Track.
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