Full-Time

Senior Manager

Collections Risk Strategy

Posted on 8/1/2024

Octane

Octane

201-500 employees

Instant financing for lifestyle purchases

Fintech
Financial Services

Compensation Overview

$120k - $145kAnnually

+ Stock Option Package

Senior

Remote in USA

Category
Risk Management
Finance & Banking
Required Skills
Python
Communications
Data Science
SQL
Data Analysis
Requirements
  • Minimum 5-8 years of total experience in analytics, collections, or credit
  • A BS degree in a quantitative field such as Statistics, Econometrics, Decision Sciences, or Engineering (advanced degree preferred)
  • Exceptional Excel skills and hands-on experience programming in Python and SQL
  • Excellent people development and management soft skills
  • Experience taking analyses from raw data to polished recommendations and communicating complex, technical findings to broad audiences
  • Great analytical, critical thinking, and problem-solving abilities
  • Strong adaptability and capacity to work in fast-paced environments
  • Strong written and oral communication skills
Responsibilities
  • Develop collections strategy for multiple products to optimize loss mitigation and revenue recovery while minimizing operational costs for the business
  • Set up statistically sound A/B testing using a robust Design of Experiments (DOE) methodology to test various aspects of collection and recovery strategies
  • Develop and maintain short-term loss forecasting to support multiple use cases across the business
  • Identify the drivers of loss and deviations in estimation techniques and develop methodologies to improve estimates
  • Perform ad hoc analysis to understand collections risk performance trends and anomalies, and proactively identify improvement opportunities for improvement
  • Design reports to track KPIs around operational execution, strategy performance, collector performance, and changes to risk profile; summarize and present findings to senior management
  • Support and oversee operational activities related to capacity planning, collector incentive compensation and vendor relationships
  • Collaborate with servicing, data science, and product to produce better business outcomes
  • Mentor and develop junior team members into strong senior performers

Octane provides instant financing solutions for lifestyle purchases, specifically targeting items like motorcycles, ATVs, and mowers. Their service allows customers to receive quick credit decisions, making the buying process smoother whether shopping online or in-store. Octane stands out by offering personalized financing options that involve a soft credit pull, meaning customers can check their rates without affecting their credit scores. This approach caters to a wide range of clients, including prime borrowers, credit builders, and first-time buyers. The company's goal is to simplify the financing process, making it more accessible and inclusive for everyone.

Company Stage

N/A

Total Funding

$190.6M

Headquarters

New York City, New York

Founded

2014

Growth & Insights
Headcount

6 month growth

3%

1 year growth

7%

2 year growth

4%
Simplify Jobs

Simplify's Take

What believers are saying

  • Octane's partnership with CFMOTO expands its reach in the powersports market.
  • The company has issued over $4 billion in asset-backed securities since 2019.
  • Octane's Dealer Portal 2.0 enhances the financing experience for over 4000 dealers.

What critics are saying

  • Rising interest rates may reduce demand for Octane's financing products.
  • Increased competition from fintech companies could erode Octane's market share.
  • Dependence on a limited number of OEM and dealer partners poses revenue risks.

What makes Octane unique

  • Octane offers a seamless end-to-end digital buying experience for recreational purchases.
  • The company uses soft credit pull technology for personalized financing options.
  • Octane partners with over 35 OEMs and 4000 dealers across the United States.

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