Full-Time

Global Credit Policy Lead

Square Banking

Posted on 6/27/2024

Square

Square

5,001-10,000 employees

Payment and POS solutions for businesses

Fintech
Financial Services

Expert

New York, NY, USA

Category
Risk Management
Finance & Banking
Required Skills
Python
Data Science
Management
SQL
Requirements
  • A Bachelor's degree in technical or business related fields such as Mathematics, Financial Engineering, Computer Science, Statistics, Data Science, Economics, Finance, Business Administration at minimum
  • 12+ years of progressively responsible credit risk experience within financial institutions, and expertise in underwriting or portfolio management
  • A proven track record of managing consumer of SME lending throughout the credit cycle, including significant experience of credit card products and unsecured loans
  • A strong understanding of credit policy frameworks appropriate to various stages of product maturity, and an ability to balance speed to market with prudent risk management
  • Experience with quantitative / statistical analysis, reporting tools such as SQL, Python, Excel etc
  • Prior senior management / executive experience including experience presenting to Board of Directors and external regulators
  • Excellent collaboration skills, comfort working in a highly matrixed environment, and a proven ability to influence others
  • Excitement and capability to work in a versatile and nimble environment and learn new tools and technologies on the job
  • The ability break down complex topics and results and communicate to all kinds of audiences
Responsibilities
  • Set our overall risk appetite, the direction of our lending activity, and create a sound, profitable global credit portfolio.
  • Advise the Product Development team on credit strategies, providing inputs to the development of credit product economics, and recommending appropriate product guardrails. With a special emphasis on new and early-stage product development, you will advise on key experiments designed to validate credit assumptions, and help build an appropriate risk tolerance tailored to the product’s maturity.
  • Manage and improve our credit framework, including underwriting and decisioning strategies, line monitoring management policies, forbearance and relief policies, and collection policies.
  • Design and guide the implementation of underwriting approaches and supporting models, in partnership with Data Science teams and our partner banks, and work with credit reference agencies to determine the correct inputs to policy and to furnish information on borrowers.
  • Run your own analyses to inform credit policy changes and test their impact. You will be supported in this by Credit Policy Analysts from our Data Science team, but should also expect to self-serve data you need to guide decisions.
  • Own and monitor the ongoing quality of the portfolio, working with Data Science teams, by compiling and analyzing credit risk indicators, segmenting the portfolio appropriately; identifying, reporting and baselining against macroeconomic trends; identifying policy modifications to improve portfolio performance; monitor the effectiveness of underwriting heuristics.
  • Enhance our credit reporting framework to improve granular understanding of portfolio performance and enable better decisions.
  • Prepare and present regular lending activity and portfolio health reports with relevant metrics such as Key Risk Indicators (KRIs) and Key Performance Indicators (KPIs) for the Square Banking leadership team, various Boards of Directors, internal and external auditors and regulators.
  • Work with Engineering, Data Science, Accounting and Internal Audit teams to remediate deficiencies in our credit framework.
  • Implement training programs with the Credit Operations team on all aspects of the Credit Framework, ensure that lending activities comply with internal policies and regulatory requirements.
  • Partner with the Square Payments Risk team to integrate the credit framework into Square’s overall merchant risk framework.
  • Evaluate individual deal opportunities to structure credit for large businesses onboarding to Square.

Square provides payment and point-of-sale (POS) solutions for businesses, particularly small to medium-sized enterprises (SMEs) like retail stores and restaurants. Its main product is a POS system that includes card readers and a software platform, enabling businesses to accept various payment methods such as credit cards and mobile payments. Square also offers additional services like invoicing, payroll management, and business analytics, making it a comprehensive tool for managing business operations. What sets Square apart from competitors is its user-friendly design and transparent fee structure, which charges a small fee per transaction processed. The company's goal is to empower SMEs by simplifying payment processing and business management.

Company Stage

IPO

Total Funding

$601.2M

Headquarters

San Francisco, California

Founded

2009

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Simplify's Take

What believers are saying

  • Square's partnership with Sysco enhances its reach in the restaurant sector.
  • Embedded finance trends offer opportunities for Square to expand B2B services.
  • Square's new features for beauty and wellness sellers increase its market appeal.

What critics are saying

  • Increased competition from companies like Toast challenges Square's market share.
  • The rise of alternative digital payment platforms pressures Square to innovate.
  • Volatility in fintech stocks could impact investor confidence in Square.

What makes Square unique

  • Square offers a comprehensive suite of payment and POS solutions for SMEs.
  • The company provides user-friendly hardware and software for seamless business operations.
  • Square's transparent transaction fee structure appeals to small business owners.

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