Rain is a venture-backed fintech with a mission to kill predatory financial products like payday loans. Our first product gives employees instant access to their wages, which solves a major problem for real people (115 million American workers are living paycheck-to-paycheck). Rain is the fastest-growing startup in the category and was incubated with QED Capital, a top fintech venture fund.

Our team culture is rooted in a deep commitment to Shokunin, the Japanese philosophy of giving your very best for the general welfare of people. Other core values at Rain: radical transparency and zero ego.

As a Senior Director of Risk with Rain, you will play a central role in rebuilding financial products for employees. You will manage our US credit & pricing strategy, as we scale to 1M+ users. You will work with data science, legal, product and engineering teams to develop risk strategies and implement them in order to achieve the desired growth targets and fulfill Rain’s mission. Our ideal candidate is excited to tackle tough market challenges and looking for opportunities to contribute to our strategic thinking. You will also serve as the internal and external evangelist for Rain’s products.

 

Key Responsibilities

  • Develop the underwriting system which includes credit and pricing strategy for all Rain’s products in USA
  • Work with Product and Engineering teams to design and implement the underwriting system 
  • Develop the customer lifetime valuation framework and integrate it in the decisioning process
  • Work with Growth team to integrate the lifetime value into various acquisition programs and conduct periodic assessment of the value of those programs
  • Work with the data science teams to develop risk models by leveraging traditional and alternate data sources
  • Support the funding strategy and manage relationships with investors and other external stakeholders 
  • Work with Legal and Compliance teams to develop a robust governance process
  • Develop a comprehensive and robust monitoring system to track the performance of the portfolio
  • Lead the market intelligence efforts and conduct periodic research on competitor offerings and customers preferences and competitors 
  • Work with Product teams to develop the business cases for new product launches in USA including target pricing and margin, addressable and realizable market, SWOT analysis,

 

Skills:

  • Ability to work effectively in a fast-paced environment and under time constraints while ensuring flawless execution
  • Intellectually curious and constantly strives to find new ways to improve strategies and processes
  • Flexible and able to adapt quickly to new situations
  • Proven ability to influence cross-functional teams without formal authority
  • Demonstrated experience in building and managing teams
  • Attention to detail and sense of urgency
  • Exceptional and proven written and verbal communication skills
  • Advanced Python and SQL programming skills
  • Strong ability to present ideas and information in influential and compelling ways
  • Ability to forge relationships and communicate with stakeholders at all levels

 

Experience:

  • College degree or equivalent in a quantitative discipline such as Engineering, Math, Statistics, Business, Economics, Finance, or Science
  • 7+ years of analytical experience, preferably with experience in developing credit and pricing strategy
  • 3+ years of people management experience
  • Demonstrate ability in launching new products 

 

The Rain Instant Pay app provides early wage access for employees at mid to large-sized organizations to improve financial wellness and increase employee productivity.

With 63% of Americans living paycheck to paycheck, financial wellness tools are an important part of any employee benefits package. Rain works by giving advances on upcoming paychecks; it is not a loan and there is no interest. Employees pay a small fee for this service, which is healthier than payday loans. 

Rain’s mission is to regrow financial freedom by giving people full control over their income and to put an end to predatory financial products, replacing them with on-demand pay.

Find out more at https://rain.us, LinkedIn, Facebook, Twitter, Instagram, and YouTube.

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