Senior Director, Credit Risk

OpenKrill; United States; Remote; USD 194,000 - 285,000; Full time

Benefits offered by this job

Health insurance

Flexible time off

Retirement savings program

Equity in company

Parental Leave

Remote work stipend

Development dollars

Job summary

Marqeta seeks a Senior Director, Credit Risk to lead and scale its underwriting organization. You will design and implement strategies to launch and grow credit programs, mentor a growing team, and collaborate with product, risk operations, finance and data teams.

You will partner with bank partners and customers, drive policy governance and risk reporting, and shape the next phase of Marqeta's credit capabilities across consumer and commercial programs.

Qualifications

• 12–15+ years of experience in credit underwriting at major banks.
• Strong balance between traditional banking rigor and fintech pace.
• Proven track record across co-brand, subprime, consumer and commercial cards.
• Desire to lead and scale a credit organization and build transformative systems.
• Expertise in Excel and SQL modeling; programming in Python or R.

Responsibilities

• Scale and lead Marqeta's credit organization and strategy.
• Mentor and develop a high-performing underwriting team.
• Oversee portfolio performance across consumer and commercial programs.
• Build and refine underwriting models leveraging data science.
• Monitor and adjust credit policies based on performance and risk.

Skills

Credit underwriting

Portfolio performance

Excel

SQL

Python/R

Leadership

Communication

Education

Bachelor's degree in Finance/Business/Accounting/Economics/Statistics/Math

Advanced statistical background; PhD preferred

Tools

Excel

SQL

Python

R

Job description

As Marqeta's Senior Director, Credit Risk, you will lead our underwriting team and be responsible for developing and designing strategy to help us launch and scale successful credit programs. You will be the person who scales our credit underwriting organization leveraging our early beginnings and progress to date - establishing Marqeta as a disruptive force in the credit space with our differentiated vision and approach. You will mentor and develop a world-class team of credit risk professionals and drive innovation to establish best-in-class credit strategies and underwriting models. This role requires someone who can represent Marqeta at the highest levels with customers and partners as our head of underwriting and credit risk strategy. You will work closely with internal stakeholders including Product, Risk Operations / Servicing, Finance, and Data while partnering and building strong relationships with external bank partners and customers.

We work Flexible First https://www.marqeta.com/blog/2022/05/10/flexible-first. This role can be performed remotely anywhere within the United States or from our headquarters in Oakland, CA. We’d love for you to join us!

The Impact You'll Have

• Scale and lead Marqeta's credit organization - this is a foundational role for our credit business
• Mentor, guide and develop a high-performing team that will scale from 2 to 10+ professionals over the next 1-2 years
• Oversee portfolio performance and account management activities across diverse portfolio types including consumer and commercial credit programs
• Build, review, and refine Marqeta's consumer and commercial underwriting models leveraging advanced statistical modeling and data science
• Proactively monitor and adjust Marqeta's credit policies based on performance and risk trends across multiple portfolio types and risk segments
• Establish credit strategies for our co-brand, consumer and commercial credit card programs that directly drive KPIs (approval rates, new accounts, loss rate, profit margin, etc.)
• Enhance underwriting and risk documentation, work with bank partners on model validation and governance, and report KPIs to senior management and external stakeholders
• Partner with product to build modern credit stacks and data strategy leveraging financial, bank, and third-party datasets to enable underwriting automation
• Represent Marqeta's credit capabilities and vision to customers and bank partners
• Provide risk consulting services to our bank partners and customers, recommending improvements to credit strategies

Who You Are

• 12-15+ years of experience in credit underwriting at major banks - you understand underwriting and portfolio performance management inside and out
• You understand both traditional banking rigor and fintech pace
• Bachelor's degree or equivalent in Finance, Business, Accounting, Economics, Statistics, Math or similar fields (Advanced statistical background - PhD in Statistics, Mathematics, or quantitative field strongly preferred)
• Proven track record across diverse portfolio types including:- Co-brand credit programs- Subprime lending- Consumer credit cards- Commercial credit cards
• Strong desire to "run your own shop" and build something transformative - you have the itch to create and scale, not just optimize existing programs
• Belief in Marqeta's disruptive vision for credit - you see the opportunity to build the "next big thing" in credit with an established, respected brand
• Expertise in Excel and SQL modeling plus strong programming and data analytics experience in R or Python
• Experience in capital markets (ABS, securitization, warehouse lines) and fraud management. (nice to have)
• Exceptional communication skills - able to represent Marqeta credibly with senior executives, customers, and partners
• Ability to work in a fast-paced, dynamic environment and adapt to changing priorities

What Makes This Role Special

• This is the foundational credit role at Marqeta - you'll help build our credit organization and execute our strategy
• Work with an established, respected brand that's ready to disrupt the credit space with a differentiated approach
• Opportunity to make this big - we have the vision, brand recognition, and resources to scale significantly
• Leadership track - path to VP and beyond as the organization scales

Typical Process

• Application submission
• Recruiter video call
• Hiring manager video call
• Virtual “Onsite” consisting of 6 - 30-45 minute interviews
• Finalist interview with CEO
• Offer!

Compensation and Benefits

Marqeta is a Flex First company which allows you to choose your best working environment, whether that be from home or at a company office. To support Flex First, we calibrate pay to a competitive value according to working location. Compensation is aligned according to three tiers within the United States:

• National: A baseline tier that applies to most of the geographic territory of the United States.
• Premium: Slightly elevated from the National tier, and oriented toward a narrower set of higher cost-of-living areas, such as Los Angeles CA and Seattle WA
• Premium Plus: A tier for the most expensive working areas, like the San Francisco Bay area and New York City.

Visit this page https://www.marqeta.com/company/salaryzones or consult with a Recruiter to determine which tier would be applicable to you.

When determining salaries, we consider several factors including, but not limited to, skills, prior experience, and work location. The new-hire base salary range for this position is:

• National: $194,100 - 242,600
• Premium: $210,100 - $262,600
• Premium Plus: $228,300 - $285,400

We also believe in recognizing the contributions of our people. That's why we award annual bonuses to eligible employees, rewarding both individual performance and the success of the entire company.

Along with monetary compensation, Marqeta offers

• Multiple health insurance options
• Flexible time off – take what you need
• Retirement savings program with company contribution and after tax contributions
• Equity in a publicly-traded company and an Employee Stock Purchase Program
• Family-forming benefits, fertility support, and up to 20 weeks of Parental Leave
• Free therapy sessions, financial and professional coaching, and legal advice
• Monthly stipend to support our remote work model
• Annual “development dollars” to support our people growth and development
• Through Flex First, the freedom to live and work wherever you and your family thrive

About Marqeta

Marqeta is on a mission to change the way money moves. We’re one of the earliest enablers of embedded finance, a market opportunity sized up in the trillions. Our card issuing platform provides unprecedented flexibility and control for companies to issue cards, authorize transactions, and manage payment operations in real time. Marqeta is powering the most well known brands in the new economy (Block, Cash App, affirm, Instacart, Doordash, Uber, Walmart, etc). You don’t need to be a Payments expert to join the Marqeta Team, let us help you with that. This is the opportunity of a lifetime to work with innovators around the world and unlock equitable financial access for all.

Marqeta’s Values

• – Solve for the Customer: With a deep understanding of our customers' business and empathy for their needs, we deliver products and services that drive their success. Earning and keeping their trust guides everything we do.
• – Do What's Right: Knowing businesses and livelihoods depend on us, we pursue solutions that disrupt responsibly and deliver high-quality results that our customers count on. We own our work from start to finish.
• – Simplify and Innovate: We approach challenges with curiosity and take smart risks. Innovation comes from finding better, simpler ways to achieve extraordinary outcomes.
• – Win as a Team: