Analytics Manager, Risk and Loss Forecasting at Happy Money
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ABOUT HAPPY MONEY
Happy Money® is building a happier and more equitable financial ecosystem that seamlessly blends psychology, technology, and a focus on happiness to help consumers go from borrower to saver, investor, and giver. The company provides a path toward improving financial well-being and securing greater happiness – beginning with paying off credit card debt – through its science-enabled, purpose-driven marketplace between mission-aligned capital and consumers.
Backed by leading investors including Anthemis Group, Tencent Holdings and CMFG Ventures, Happy Money has helped nearly 150,000 members pay off more than $2.7 billion in credit card debt since inception through its award-winning Payoff Loan™. Founded in 2009, Happy Money has a diverse employee base of over 350 people across the United States.
ABOUT THE ROLE
Happy Money Risk Team is currently looking for an analytical risk manager to lead the loan portfolio risk monitoring and loss forecasting. The core responsibilities include loss loan product credit forecasting model development, portfolio monitoring, prepayment analysis, macroeconomic scenarios, stress factors and qualitative management layer recommendations. This position will also have the opportunity to give thought leadership on hybrid product structures and fintech partnerships.
This is a 100% remote role (Based in the United States)
WHAT YOU’LL BE DOING
- Manage account level loss forecasting, prepayment forecasting, including calculations, analysis, and documentation
- Manage the risk reground process, including project charter, data research, approach and methodology, intent scoping, timelines and prioritization, stakeholder presentations and storytelling
- Own and maintain the risk monitoring and reporting processes, ensuring all relevant metrics are reported timely and accurately
- Collaborate with the Science team over model development and assessment of key assumptions such as portfolio segmentation, data methodology, forecast period, and potentially econometrics inputs that go into the model
- Monitor the quantitative models used for expected credit loss estimation, and related components such as unit charge-offs, dollar charge-offs, recoveries, prepayment, loan deferment and loan modification impacts
- Ensure model backtesting and ongoing monitoring are performed and reviewed and implement any changes that arise from the results
- Perform in-depth analysis, including trends, variances, macro-variables impact etc for customer behavioral insights and risk mitigation recommendations
- Perform scenario analysis, estimating the effects of changes in forecasts and assumptions on expected credit losses on an ongoing basis
- Lead, present and document meetings at the monthly business review, quarterly investor updates and with stakeholders as needed
- Implement credit loss assumptions into business data warehouse; design and collaborate with business intelligence on Risk related dashboards
- Manage research and implementation of regulatory, accounting standards and industry best-in-class models relevant to credit risk
- 5+ years of experience in loss forecasting, risk modeling, financial services, credit risk or corporate finance
- Bachelor’s degree in the quantitative field
- Significant experience with allowance for loan loss accounting, risk modeling, stress testing
- Demonstrated advanced use of Python and/or R, SQL and/or Snowflake with the ability to query and manipulate both product-centric and customer-centric data
- Experience with Tableau style business intelligence reporting tools, including owning dashboard use case, metric definition from core systems, and validating results
- An ability to remain highly organized, well-rounded, flexible, and able to pivot direction when needed
- Detail-oriented individual with strong analytical, organizational, and problem-solving skills
- Strong verbal and written communication skills
- Ability to work well independently and self-motivate in a fast-paced and rapidly changing environment
- Direct experience developing and implementing loss forecasting models preferred
Here at Happy Money, we live by our core values of Love, Trust, and Hustle and welcome all. Love is shown in how we develop meaningful relationships with everyone we interact with; whether it’s a member or your manager. Trust is shown through how we empower each other to come to work as our true selves and embrace our differences. Hustle is shown through how we fail fast and learn from our mistakes. No one is perfect, we’re all human; if this job description doesn’t exactly match your background, we encourage you to apply anyway!