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Director, Quantitative Fair Lending

Lending Club

Lending Club

Multiple locations
Posted on Tuesday, July 2, 2024

Current Employees of LendingClub: Please apply via your internal Workday Account

LendingClub Corporation (NYSE: LC) is the parent company of LendingClub Bank, National Association, Member FDIC. We are the leading digital marketplace bank in the U.S., having helped our nearly 5 million members secure over $90 billion in loans to refinance high-cost debt and achieve their financial goals. Members today have mobile-first access to a growing range of products and services designed to work seamlessly together to deliver value in new ways. Everyone deserves a better financial future, and our team is committed to making that a reality. Join the Club!

About the Role

LendingClub Bank’s 1st line Decision Science group is seeking an experienced and qualified quantitative compliance professional to fill the role of Director, Quantitative Fair Lending. This role will report to the SVP, Decision Science and Modeling and will be responsible for administering the Bank’s Fair Lending 1st Line Disparate Impact (DI) Testing Program, as well as, develop and implement a fair lending 1st line monitoring program. The Director will help execute the Bank’s Fair Lending Program in collaboration with the 2nd line Fair Lending Director and will work with senior leaders across the business to provide fair lending compliance perspective and guidance to ensure compliance with all fair lending laws and regulations.

What You'll Do

  • In collaboration with the SVP, Decision Science, administer the 1st line Fair Lending DI testing and monitoring program as defined by the 2nd line Fair Lending Compliance policies and standards
  • Develop a 1st line Fair Lending monitoring program to assess DI exposure on a periodic basis
  • Develop reporting to provide clear updates to senior leadership on the state of fair lending testing and subsequent search for alternatives (as required)
  • Oversee the 1st line execution of the Bank’s Fair Lending Program to ensure compliance with all fair lending laws, regulations and guidance
  • Develop strong partnerships across all lines of business and act as a trusted advisor to be a thought partner and guide for the 1st line on fair lending and other compliance subject areas.
  • Ultimately, manage a team of 2+ analysts. Provide ongoing coaching, feedback, mentoring, and leadership to develop those analysts
  • Act as a subject matter expect on fair lending laws and regulations within the first line of defense. This includes all aspects of first line risk management
  • Define a calendar for ongoing DI testing to cover all of the Bank’s consumer lending strategies and models at least annually
  • Prepare periodic reporting and present materials to Executive Management
  • Stay apprised of regulatory development and advise the 1st line on how to address emerging regulatory requirements and expectations
  • Assists in regulatory exam readiness and internal audit
  • Provide input and assist with updates to the Bank’s Fair Lending policies, procedures, and governance documents
  • Performs other duties as assigned

About You

  • You have 10+ years of experience in consumer banking (preferably in a regulated financial institution), background in fintech preferred
  • You have 5+ years of fair lending experience in a regulated financial institution
  • You have 3+ years of hands on experience with quantitative testing for Disparate Impact related to models and overlays (policy credit rules)
  • Familiarity with disparate impact testing process and analysis, along with understanding of variable testing, less discriminatory alternative searches, and statistical model proxy testing
  • Experienced with automated decisioning platforms and processes, including reviewing and assessing credit strategies that leverage data models, and machine learning
  • Experience managing and coaching a small team of direct reports
  • You are familiar with analytical processes in automated credit decisioning in a consumer banking environment, including a high level understanding of how models are developed and how they function
  • Previous coding experience (e.g. Python, SQL, SAS, etc …) and an ability to be hands on with data highly preferred
  • You are an excellent communicator across different audiences with the ability to adjust communication style as appropriate; ability to simplify complex topics and distill information down to essential points for a non-technical audience
  • You have strong organization, analytical, and planning skills; ability work in a fast-paced environment and manage multiple projects toward completion without compromising quality
  • You have the strong ability to work with business partners to ensure alignment and positively impact change
  • You excel at developing dashboard reporting that succinctly captures program status, key risks and resolutions to drive awareness and Culture of Compliance
  • Bachelors or master's degree in related field, or equivalent work experience

Work Location

San Francisco, New York City

We are currently working a hybrid schedule and our teams are in-office Tuesdays and Wednesdays.


Time Zone Requirements

Local time zone (PT, ET)

Travel Requirements

If you need to travel for work, LendingClub will cover your travel related expenses.

Compensation

The target base salary range for this position is 198,000-230,000. The position is also eligible to receive a bonus (which is based on company performance, employee performance and eligible earnings), equity, and benefits. Our salary ranges, other compensation and benefits offered are determined by role, experience level and location.

We’re creating new financial services solutions for our members based on fairness, simplicity, and heart, and we treat our employees the same way. We offer a competitive benefits package that includes medical, dental and vision plans for employees and their families, 401(k) match, health and wellness programs, flexible time off policies for salaried employees, up to 16 weeks paid parental leave and more.

#LI-Hybrid

#LI-CA1


LendingClub is an equal opportunity employer and dedicated to diversity, equity, and inclusion in the workplace. We do not discriminate on the basis of race, religion, color, national origin, sex (including pregnancy, childbirth, reproductive health decisions, or related medical conditions), gender, gender identity, gender expression, sexual orientation, age, marital status, veteran status, disability status, political views or activity, or other applicable legally protected characteristics. We believe that a variety of perspectives will make our teams and business stronger as we work together to transform the traditional banking system.

We are committed to providing reasonable accommodations for qualified individuals with disabilities in our job application process. If you need assistance or an accommodation due to a disability, please contact us at [email protected].