At OnDeck, we make small business a big deal. We’re improving the world’s economic landscape by changing the way small businesses access capital. We care intensely about each other, our company and the customers we serve, and are committed to making every day count.
The Risk Management team creates competitive advantage for OnDeck through excellence in risk/reward optimization while simultaneously exercising its function of control in a vigorous and diligent fashion. The Risk Management team develops strategies and models to extend credit in a profitable manner to small businesses and their owners based on a strong understanding of the behavioral and commercial drivers of its customers and on sophisticated analysis of data. As the control function of OnDeck, the Risk Management Team ensures that that the portfolio, policies, strategies, new product features or operational processes at OnDeck are consistent with the risk appetite set by the management team and the board.
The Senior Equipment Finance Portfolio Manager is a brand-new role that will pioneer innovation for the Equipment Financing industry and will focus around portfolio optimization for our new digitalized Equipment Lending product, which could become the first of its kind. The role will partner with senior team members and is responsible for providing strategy support and analytics for acquisition, product structuring, document procurement, onboarding, monitoring, and collection strategy of small ticket equipment finance transactions. The Equipment Finance Portfolio Manager will work closely with Corporate Development, Product, Technology, Finance, and Marketing to assess and drive OnDeck’s equipment finance profitable growth with a sharp focus on Risk Appetite and Risk Management.
As the Senior Equipment Finance Portfolio Manager at OnDeck, you will:
- Support OnDeck’s new Equipment Finance Division's growth and profitability by producing risk strategy and support to product development, acquisition, pricing, term, portfolio optimization, and monitoring and collections strategy
- Manage asset risks through setting asset risk parameters that cater for specific asset types and customer segments, and adopting the appropriate credit assessment approach and supporting technologies that are aligned with the risk profile of our markets
- Work with our Model Development team to build new PD & LGD models for asset classes using innovative technology (Python, R, SQL) in a FinTech and data centric environment
- Develop analytical financial statement/client and collateral valuation strategy using traditional and alternative data sets
- Create and continuously improve decision rules engine for equipment finance new and renewal clients
- Interact with Sales, Compliance, Marketing, Business Development, Legal, and other related Bank personnel regarding issues of credit quality, appropriate structure, as well as new business and related trends.
- Be responsible for the profitability and growth of the equipment financeportfolio
- Recommending and implementing strategies to mitigate risk of loss
- Create and continuously improve process and policy to maximize revenue opportunities, manage risk and reduce cost
- Create strategies for clients nearing the end of term on lease or rental facilities, providing options that meet both the requirements of client and company
- Provide ongoing advice to the sales team to identify asset risk issues and how these risks are to be addressed in structuring transactions.
- Proactively manage deal flows and turnaround time for asset risk decisions and communication with sales colleagues.
- Engage with key stakeholders to ensure credit and asset risk issues are identified and addressed in a collaboratively and improve the effectiveness of the credit policy and its alignment with business writing strategy, whilst maintaining the independence, objectivity and integrity of the credit function.
- Provide industry sector information to the sales team to guide their business development efforts.
- Report to the business any emergent credit issues that may arise from business development activities and provide appropriate solutions.
- Determine usefulness / effective life of equipment
- Focus on Residual Value (RV) risk setting, RV exposure management and remarketing of repossessed and returned assets.
- Perform residual value and maintenance reviews to ensure compliance with existing policies and accurate pricing
Required Skills and Necessary Qualifications for Success:
- Quantitative (statistics, engineering or mathematics) or finance related degree/s.
- MBA and professional designation preferred
- At least 8-15 years of credit riskexperience at a financial institution
- Expertise in the Equipment Financing space within a Risk related function, providing portfolio analytics (PD, LGD) and owning the credit lifecycle (acquisitions, underwriting, portfolio management)
- Very strong data analytics skills with experience in SQL (Python, R and/or SAS a plus) in addition to proficiency in PowerPoint and Excel. Requires a firm understanding of risk acceptance criteria, risk scorecards, and portfoliorisk analysis
- Strong understanding of the laws governing security, priority ranking, contracts, insolvency, and how these apply to the structuring of transactions to minimize risk.
- Experience in setting credit and underwriting policies, renewal strategies, asset strategies and portfolio management.
- Conversant with quantitative techniques in assessing and managing credit and asset risks e.g. data-driven risk rating systems, portfoliorisk analysis etc.
- Previous position to include setting of residual value / asset risk where the above skills are practiced in a highly autonomous environment.
- Experience in customer facing roles in structuring and negotiating proposals.
- Strong evidence of business and commercial acumen, financial skills, and analytical abilities.
- Intellectual Curiosity. A keen intellect, combining analytical reasoning, curiosity, creativity, conceptual ability and judgment. Quick study, able to handle complex matters, with multiple initiatives going on simultaneously.
- Positive "can-do" attitude. Strong passion for helping SMB customers succeed and doing what it takes to help drive company initiatives forward. Understands how to navigate the organization effectively to accomplish business and department goals.
- Strong interpersonal skills. Personable and can quickly engender people’s confidences. Able to lead effectively. Capable of building relationships, a good listener with outstanding interpersonal influencing qualities and a natural consultative style, and able to deal effectively with strategic issues, as well as the tactical, operational details.
- Outstanding communicator. Possesses good written/oral communications skills, as well as the ability to present his/her views in a clear and compelling manner. Can effectively tailor communication and adapts approach to specific audiences.
- Trusted partner, working under confidentiality. Able to handle confidential information, is trustworthy, and can act with discretion and professionalism.
- Professional Courage. Willing to take risks, aiming high to drive OnDeck forward. Has the courage to talk straight and ask tough questions. Is open to and accepts of change, adapting to our evolving business. Proactively raises challenges and identifies solutions.
- Project management. Capable of executing on both short- and medium-term projects and objectives. Willing to do what it takes to hit deadlines that may be externally imposed. Organized and able to anticipate issues or conflicts as they come up.
- Plus: Qualification held with American Society of Appraisers in ASA-MTS / Machinery & Equipment
As the largest online small business lender in the U.S. serving more than 700 different industries, we have been trusted by over 80,000 small businesses by providing them with a term loan or line of credit to help them build growing and thriving enterprises. Since 2007, we’ve issued over $8 billion in capital.
Join us as we enable small businesses to achieve their goals. At OnDeck, we’re reinventing small business financing. We care intensely about each other, our company and the customers we serve, and are committed to making every day count. We are small enough to be nimble and strong enough to make a big impact.
Benefits for you:
OnDeck believes that each and every team member plays an important role in our company’s success. That’s why we strive to provide you and your family with a competitive and comprehensive benefit program with a variety of options and opportunities. We offer:
- Generous Vacation
- Comprehensive Healthcare
- Educational Reimbursement
- 401k Matching
- Parental Leave
- Sports Teams
- Stocked Kitchens
- Loan Consolidation
We are going to ask you to talk about your accomplishments. Here are some of ours:
- WorldatWork, 2017 Seal of Distinction
- Fortune 50 Best Workplaces for Diversity, 2016
- Fortune 50 Best Small and Medium Companies to Work For, 2016
- Fortune 30 Best Workplaces in Finance and Insurance, 2016
- Built in Colorado, Top 100 Digital Companies in Colorado, 2015, 2016, 2017
- Crain’s New York Business Fast 50, 2013, 2014, 2015, 2016, 2017
- Fortune and Great Place to Work 100 Best Workplaces for Millennials, 2015
- 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
- Colorado SHRM Best Companies to Work For in Colorado, 2015
- Forbes’ America’s Most Promising Companies, 2013, 2014
- Selling Power Magazine Best Company to Sell For, 2013, 2014, 2015, 2016, 2017
- 500|5000, 2013, 2014