LendingClub (NYSE: LC) was founded in 2007 under the belief that a technology and data-driven marketplace can improve the way people access and invest in credit, creating value for both sides. Since then, we've helped millions of Americans take control of their debt, pursue their dreams, and invest in their future – all in a fair, transparent, and affordable way. Today we’re the world’s largest online credit marketplace, facilitating billions of dollars in loans annually, and we’re leading the governance of a new industry by developing ethical, responsible ways to bring greater value and better opportunities to our members. Everyone deserves a better financial future and our team is committed to making that a reality.
About the Role
Lending Club is looking to hire a Vice President, Model Risk Management. The position reports to the Chief Risk Officer and is responsible for our Model Risk Governance initiatives. The successful candidate will have experience working in the consumer credit industry with a quantitative background in the development, validation and use of statistical modeling. This role will drive Lending Club’s model risk governance strategies and future development efforts. Another area of expertise that is important is the candidate’s experience working with credit reporting agencies attributes and data. This candidate will need to work collaboratively and successfully with many peers throughout our organization such as our various Credit Risk teams, the Institutional Investor group, Legal, Compliance and Loss Forecasting.
What You'll Do
• Evolve our Model Risk Management framework including Model Governance, Model Standards and Model Validation
• Lead a strong culture around healthy model risk management
• Hire and develop a team that reviews internally developed and third-party statistical models and scorecards for credit underwriting, loan pricing, loss forecasting, collections and backend review process
• Analyze, monitor, escalate and report on model risk for the Company
• Work closely with model validators to understand and communicate the results of model validation activities, model limitations and uncertainties to the key stakeholders and management
• Oversee ongoing model performance monitoring, including benchmarking and outcome analysis, performed by model developers
• Organize and conduct periodic meetings with model developers and stakeholders to review results of ongoing performance testing
• Ensure all new statistical models are soundly developed, accurately back-tested and benchmarked
• Develop and employ effective challenges to developers and users; elevate findings for the overall improvement of our models
• Consistently enhance our templates for model development and independent model validations
• Ensure a robust maintenance process is in place for our Model Risk Governance centralize tracking system
• Develop and manage 3rd party vendors to complete independent validations
• Tracking Lending Club’s model inventory and resolution of all model findings
• Proven experience leading Model Risk Management function: setting direction, developing people and rolling-up sleeves to get work done – must be a doer!
• Must be proven at influencing and driving change and culture
• Deep, hands-on experience with predictive modeling methods (e.g., logistic regression, multivariate linear regression, decision tree, cluster analysis, etc.); familiar with other data mining/machine learning
• Attention to detail – must be able to return error-free processes and analysis
• Strong working knowledge and proficiency with analytic/quantitative software such as SAS, Matlab, R, S+, or Python
• Experience working with Credit Bureau data and processes
• Project management experience driving initiatives within a given or expected time frame
• Ability to communicate clearly and precisely on technical and business topics
• Graduate degree in a quantitative field such as Statistics, Physics, Economics, Financial Engineering, etc., Ph.D. preferred
LendingClub is an equal opportunity employer and dedicated to diversity and inclusion in the workplace. We do not discriminate on the basis of race, religion, color, national origin, sex, gender, gender identity, sexual orientation, age, marital status, pregnancy status, veteran status, or disability status. We believe that a variety of perspectives will make our teams and business stronger as we work together to transform the traditional banking system.