Director of Loss Forecasting

OnDeck

Education
Experience
Responsibilities
Workhours
Qualifications

At OnDeck, we improve the world’s economic landscape by changing the way small businesses access capital. We do it in an environment where we celebrate collaboration, but aren’t afraid of healthy competition; where we’re serious about our work but don’t take ourselves too seriously; and where we are small enough to be nimble but strong enough to make a big impact.

 

The Director of Loss Forecasting is responsible for managing the creation, implementation and validation of various risk metric forecasts including, but not limited to: vintage loss estimates, lifetime loss estimates, risk segmentations, collections and financial return optimization. The Loss Forecasting function provides critical information, interpretative, and detailed analysis, and works in collaboration with the Portfolio Risk Management and Acquisition Risk Management functions to ensure our business and risk are optimized to meet OnDeck’s targets, while ensuring the accuracy and integrity of our provisioning process.

As a Director of Loss Forecasting at OnDeck, you will:

  • Investigate, create, implement and validate various risk metrics forecasts using complex data including cohort and time series analysis of delinquencies, credit losses, recoveries, and ensure an enterprise wide consistency in loss estimations.
  • Enhance loss forecasting capability using various financial modeling techniques and data sources; progressing toward a Best-In-Class level of excellence. 
  • Interface with Operations teams to help build relationships, set goals and track operations performance, providing an actionable feedback loop as it relates to portfolio delinquency and loss.
  • Ensure sound credit control by taking a pro-active approach to risk management within the risk guidelines of the Bank.
  • Demonstrate governance, control and risk management behaviors in alignment with OnDeck policies and practices. Document all new processes per Enterprise policy
  • Assist with developing and enhancing credit structuring/packaging and risk assessment capabilities to identify and maintain good business opportunities with new and existing clients.
  • Perform detailed analysis and interpret information to make recommendations to Senior Management on critical strategies including non-standard and adhoc requests as determined by management. 
  • Work with Finance and Accounting to ensure loss forecasting and provisioning processes evolves and adapts to ongoing Enterprise, GAAP, and stakeholder needs.
  • Ensure the timely and effective communication of forecasting results & variance drivers; anticipating potential needs in an effort to establish and maintain good working relationships with key business stakeholders. 

Necessary qualifications for success:

  • Bachelor’s degree in a related field required
  • Graduate Degree preferred (i.e. MBA or MS in Finance, Statistics or Econometrics) or CFA coupled with progressive work experience in addition to experience below and strong technical, analytic and statistical skills
  • 5-10 Years of related experience in Risk and/or Finance and/or Operations areas, specific experience in interfacing with external auditing functions regarding provisioning
  • Proficient PC skills including a strong financial modeling competency in MS Excel, PowerPoint presentation skills, and a variety of PC-based analytical and reporting software packages.
  • Experience with the use of Relational Databases and the process of Extract Transform Load (ETL) using common languages such as SQL, Python or R
  • Working knowledge of R
  • Strong analytical and problem solving skills are required to interpret data and draw conclusions.
  • Experience in data modeling and risk management either from a business administration, statistical, mathematical, scientific or financial background.
  • Excellent written and verbal communication skills
  • Experienced in developing and presenting recommendations to Senior Management 

About OnDeck:

We’re all about teamwork, passion and making an impact. Oh and having fun – Whether it’s community service events, book club meetings, team get-togethers or weekly social hours in the office.

OnDeck is the leader in online small business lending. Since 2007, the company has powered Main Street’s growth through advanced lending technology and a constant dedication to customer service. To date, the company has deployed over $5 billion to more than 50,000 customers in 700 different industries across the United States, Canada and Australia.

In addition to our great benefits: https://www.ondeck.com/company/careers/

We also offer…

401K Match. Tuition Reimbursement. Paid Parental Leave.  Company Outings. Hackathons. Company Sponsored Sports Teams/Clubs. Discounted Gym Membership. Office Learning & Development Training.

We are going to ask you to talk about your accomplishments. Here are some of ours:

  • WorldatWork, 2017 Seal of Distinction
  • Fortune 50 Best Small and Medium Companies to Work For, 2016
  • Fortune 30 Best Workplaces in Finance and Insurance, 2016
  • Fortune/Great Place To Work Great Rated! People’s Picks: 20 Great Workplaces in Financial Services, 2015
  • Crain’s New York Best Places to Work, 2013, 2014, 2015

 

 

As part of our dedication to maintaining an inclusive and diverse workforce, OnDeck provides equal employment opportunities (EEO) to all employees and applicants for employment without regard to race, color, religion, sex, national origin, age, disability or genetics. In addition to federal law requirements, OnDeck complies with applicable state and local laws governing nondiscrimination in employment in every location in which the company has facilities. This policy applies to all terms and conditions of employment, including recruiting, hiring, placement, promotion, termination, layoff, recall, transfer, leaves of absence, compensation and training.

 

OnDeck expressly prohibits any form of workplace harassment based on race, color, religion, gender, sexual orientation, gender identity or expression, national origin, age, genetic information, disability, or veteran status. Improper interference with the ability of OnDeck’s employees to perform their job duties may result in discipline up to and including discharge.

 

**No external recruiters or agents, please.**

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Confirmed 5 hours ago. Posted 30+ days ago.

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