Credit Risk Manager, Merchant Cash Advance (MCA)

About Finfare

Finfare is dedicated to empowering SMBs, by providing the ultimate expense management solution for growing businesses seeking to streamline their financial operations and maximize cash back rewards. Finfare offers easy expense tracking, personalized spend controls, seamless accounting integration, powerful analytics, and reliable charge card services. Our cardholders can tap into our vast network of reward program publishers and card-linked merchant offers, ensuring even bigger cash back rewards for their business.

We are always working on redefining the boundaries of digital financial services and aim to stay one step ahead in the ever-evolving fintech landscape.

About the Role

The Credit Risk Manager - Merchant Cash Advance (MCA) is a credit orientated role as well as a personnel management and leadership role. Under the direction and review of the Director of Commercial Credit Risk you will play a pivotal role in assessing and managing credit risk for the Merchant Cash Advance team. The role involves evaluating creditworthiness of applicants, overseeing portfolio management activities, and managing/mentoring a team of Portfolio Managers and Credit Underwriters with varying levels of experience. You will exercise credit authority and work closely with the Credit Team to ensure sound credit and final decisions that align with the organization's risk management objectives.

As this is a new product, this role will be instrumental in establishing the credit parameters, process, and procedures of the MCA product, as well as, hiring and developing the credit team.

Responsibilities

• Ensure all product quality objectives are met and processes and procedures are in compliance with the company's policies, practices, and regulatory requirements. Communicate results and any potential issues to both line and credit leadership.
• Ability to guide and influence underwriting and sales teams to align with the Finfare's risk culture and appetite.
• Ability to handle stressful situations while maintaining trusting relationships with the business line and other stakeholders.
• Strong understanding of the business line's operations, products/services, systems, and associated risks/controls.
• Review and approve credit packages, assist in structuring, and decision requests for existing borrowers and prospects. Provide recommendations and feedback to the line teams regarding specific credit requests as well as overall portfolio management. Evaluate existing borrower and prospective credit requests within established standards.
• Assure the credit team meets or exceeds established service level expectations
• Make recommendations regarding credit authority of credit personnel and periodically review credit authority usage.
• Maintain the desired balance between growth, profitability, and credit quality.
• Provide coaching, mentoring, and training to credit team members throughout the credit approval process. Assist line management in the evaluation of the line personnel and help to identify training needs.
• Participate in internal credit review, audit and regulator examinations, and forecasting of asset quality indicators to senior management.
• Monitor, develop, and suggest revisions to workflows and procedures as necessary to enhance efficiency and control costs.
• Demonstrate proficiency in content, interpretation and application of credit policy and awareness of and appropriate actions with regard to applicable laws and regulations.
• Contribute to the development and maintenance of Finefare's credit culture.
• Contribute to the establishment and review of credit policies.
• Remain current on all Finfare's rules and regulations relating to Credit Risk.
• Identify potential for credit losses and propose appropriate risk mitigants as appropriate.
• Monitor the portfolio for credit risk issues, including but not limited to: exception reporting, past dues, credit agreement compliance, trend analysis, and identification of emerging risks.
• Other duties as assigned.

Qualifications

• 5-7 years of Underwriting experience is required; previous credit risk management experience is preferred.
• Bachelor's degree or equivalent work experience required, preferably in Accounting, Finance, or related discipline.
• Previous MCA experience strongly preferred.
  Experience in high-growth startups.
• Possesses an understanding of the current business environment, demonstrated knowledge of credit policy, and analytical abilities
• Sound judgment, strategic thinking, and the ability to make informed decisions in a fast-paced, dynamic environment.
• Goal and production oriented

Compensation

The compensation for this role is $120k - $150k+ (depending on experience),

Benefits at Finfare

• Competitive health, vision, and dental benefits (covering 100% premium for employee and all dependent(s))
• Unlimited PTO
• 401K (with employer matching)
• Catered lunches 3+ times a week
• Parental leave
• Employee stock purchase plan (if applicable)
• Health and wellness reimbursement
• Work sponsorship (if applicable)
• Other employee perks

As part of our dedication to the diversity of our workforce, Finfare is committed to a policy of Equal Employment Opportunity and will not discriminate against an applicant or employee on the basis of race, color, religion, creed, national origin or ancestry, sex, gender, gender identity, gender expression, sexual orientation, age, physical or mental disability, medical condition, marital/domestic partner status, military and veteran status, genetic information or any other legally recognized protected basis under federal, state or local laws, regulations or ordinances.