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New Product Development Director, Risk Management
Lending Club
San Francisco, CA, United States
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Lending Club (NYSE: LC) opened in 2007 with one simple mission: create a more efficient, transparent and customer-friendly alternative to the traditional banking system that offers creditworthy borrowers lower interest rates and investors better returns. Today, we’re the world’s largest online credit marketplace, and we’re radically changing the way lending operates. We’re proud of the recognition we’ve received, including being named a World Economic Forum Technology Pioneer, a CNBC Disruptor 50, and one of The World’s 10 Most Innovative Companies in Finance by Fast Company. We’re conveniently located in downtown San Francisco, California.
New Product Development Director, Risk Management
Role and Responsibilities:
Reporting to the VP of New Product Development, this position will be responsible for managing and crafting new products risk strategy along with developing and tracking appropriate metrics. Responsibilities will include development and implementation of underwriting and pricing strategy for Lending Club’s Super Prime, Near Prime loan and other new products. You will be responsible for finding opportunities to improve yield for the investors while maintaining reasonable loss rate. Lending Club is pioneering a new way of lending, and you will need to identify new and different ways of bringing borrowers to Lending Club and take calculated risks based on data-driven analytics
• Develop underwriting and pricing strategy for new products through collaboration with Marketing, Loss forecasting, Product, Operation and Investor team.
• Collaborate with products on creating and testing user experience to improve conversation rate; measure and communicate impact of new products and user experience to leadership team
• Develop KPI’s and benchmarks to monitor all new products and present portfolio metrics and insights to exec team
• Work closely with product on new products implementation including pre and post implementation auditing
• Work closely with Investor group on providing regular updates and communicating portfolio performance and strategy changes to Institutional Investors
• Experiment with new tools and techniques to improve insights
• Stay on top of industry trends and best practices
Requirements:
• 7+ years of analytical and risk experience
• Track record of ideating and introducing successful new products
• Experience working in data driven environments and comfort working with measurement and attribution models
• Excellent interpersonal, communication and persuasion skills and a desire to collaborate
• Strong quantitative, analytical and problem solving skills
• Bachelor/Master’s degree with quantitative background (e.g. Statistics, Math, Engineering, Economics)
• Strong technical skills such as SQL & SAS