Position OverviewAs VP of Credit Risk, you'll own the credit strategy behind every lending decision at Scratch Pay. You'll lead our scoring models and the policy layer that sits alongside them, manage portfolio performance, and responsibly expand who we can say yes to, especially across near-prime and subprime segments, using alternative data and modern underwriting techniques. You'll operate hands-on in the models and data while building and leading the team that scales the function.We're looking for this role to serve as the general manager of Scratch Pay’s profitability. This is a high-ownership, cross-functional role: you'll set and execute the strategy for underwriting, collections, and loan performance.You'll report directly to the President and work closely with our SVP of Product to shape the borrower experience across our lending application and iOS/Android apps.What You'll OwnLending P&L & Credit StrategyServe as the GM for lending profitability: own the credit loss rate, approval rate, checkout conversion, unit economics, and yield across our loan portfolioDesign and optimize the hard-cut / policy layer that sits alongside the score — knockout rules, eligibility criteria, and approval thresholds — using swap-set and champion/challenger analysis to tune the approve/decline boundary against approval-rate and loss targets.Define and continuously improve our underwriting criteria — credit policy, model inputs, decisioning logic — to optimize risk-adjusted returnsLead collections strategy, including segmentation, treatment paths, agency relationships, and recovery optimizationResponsibly expand the approvable population into near-prime (and potentially subprime) by integrating and operationalizing alternative data: cash-flow / bank-transaction data, alternative bureau attributes, income and employment verification, and other non-traditional signals.Own portfolio performance management: loss forecasting, vintage and roll-rate analysis, early-warning indicators, and inputs to loss reserves.Monitor portfolio performance and drive rapid iteration when trends shiftProduct PartnershipPartner closely with the SVP of Product to define improvements to our lending application and borrower-facing iOS and Android appsBring a data-driven and risk-aware lens to product decisions: approval flows, offer presentation, repayment UX, and borrower communicationsEnsure compliance and regulatory considerations are built in from the start, not bolted onBuild a rigorous test-and-learn engine (champion/challenger, controlled holdouts, A/B) so credit policy decisions are driven by evidence rather than intuition.Team LeadershipLead and develop a lean but high-performing credit risk team, with expected growth as the business continues to scaleDevelop your team's craft and careers while maintaining high standards for output qualityChampion a culture of rigor and intellectual honesty (getting it right vs. being right) in how the company uses dataAI & Operational EfficiencyIdentify and implement AI-powered tools and workflows to make the Credit Risk & Analytics function more efficient and scalableEvaluate and deploy best-in-class tooling for credit modeling, collections automation, data processing, and analytics deliveryStay current on the evolving landscape of fintech AI applications and bring relevant innovations to the teamWhat We Are Looking ForMust-HavesExperience as a P&L owner at a consumer lending company: you've directly managed credit loss, yield, and portfolio economics and can speak to the decisions you made and their outcomesDeep, hands-on credit underwriting experience – not modeling in the abstract, but real ownership of live underwriting decisions and the P&L outcomes they produce.Proven track record building unsecured personal / consumer loan credit models end to end.Experience managing analysts, with a track record of developing talent and building productive, high-output teamsStrong AI aptitude: you're already using AI tools in your workflow and have opinions on how they can make a credit/analytics function meaningfully more efficientDeep fluency in credit risk concepts: underwriting policy, scoring models, vintage analysis, loss forecasting, collections strategyComfort working across functions: you've partnered with Product, Engineering, or Operations teams and know how to translate between risk and business prioritiesStrong communicator who can present complex portfolio or analytics findings to non-technical stakeholders, up to and including board levelKnowledge of consumer lending regulation (TILA, FCRA, ECOA, UDAAP)Deep fluency with the major credit bureaus (Equifax, Experian, TransUnion) – their attributes, scores, and data quirks – plus working experience with additional and alternative data sources.Pedigree from Capital One or a comparably innovative, test-and-learn consumer lender (e.g., Affirm, Upstart, Oportun, Discover, Synchrony, SoFi, Enova); someone who has worked inside a best-in-class underwriting culture.Nice-to-HavesExperience at a fintech or marketplace lender (point-of-sale lending, BNPL, or installment lending a plus)Demonstrated alternative underwriting experience used to extend credit access to near-prime and subprime applicants.Hands-on experience building or managing credit models (logistic regression, ML-based scorecards, etc.)Familiarity with collections vendor management and agency relationshipsExperience scaling an analytics team from small to multi-functionalWhat Success Looks Like in Year OneCredit loss and approval rates are moving in the right direction, with a clear underwriting roadmap in placeCollections strategy is segmented, instrumented, and showing measurable improvement in recovery ratesYou've identified and implemented at least two meaningful AI/tooling improvements that save the team time or improve decision qualityThe SVP of Product considers you a true partner on lending product decisionsThis Role Is Not for EveryoneThis is a player-coach role, and that's not going to change as the company grows. If your instinct is to delegate analysis and own the strategy from a distance, this won't be a fit. We're a lean team, and the VP we're looking for is someone who is as comfortable pulling data and building a model on a Tuesday afternoon as they are presenting portfolio strategy to the President on Wednesday morning.Specifically, this probably isn't the right role if you:Prefer to set direction and have analysts own all the hands-on workNeed a large, established team and infrastructure before you can be effectiveAre looking for a role where credit risk is siloed from the rest of the businessDefine success primarily through headcount growth rather than business outcomesWhy You'll Love Working HereCompetitive base salary ranging from $250,000 - $275,000Scratch is a remote-first company, giving ultimate flexibility to today's nomadic work style. For those who prefer a hybrid model, we do have an office space in Pasadena available for use (which is stocked with snacks & various beverages). We offer unlimited PTO, covered healthcare, 401k match, cell plan reimbursement, and monthly recognition opportunities. We also provide learning platforms and resources for all to keep growing. Not only that, but we have an equity retention policy to ensure you grow as the company grows financially, as well. And if your family is growing, we offer generous parental leave, too!Our CommitmentWe’re innovators who care deeply about the lives of pets, their owners, and veterinary professionals. We believe diversity strengthens our team and drives better solutions.Scratch is committed to diversity in its workforce and is proud to be an equal opportunity employer. Scratch considers qualified applicants without regard to race, color, religion, creed, gender, national origin, age, disability, veteran status, marital status, pregnancy, sex, gender expression or identity, sexual orientation, citizenship, or any other legally protected class.
7 days ago