Head of Credit

Alt’s cash advance and lending products are rapidly becoming core revenue drivers. We’re hiring a Senior PM to own the full credit system end-to-end — underwriting logic, risk thresholds, expected-loss modeling, decisioning speed, borrowing experience, and all operational workflows linked to sending and receiving funds.

This role sits at the intersection of credit risk, financial modeling, product design, and operational execution. You’ll partner closely with Pricing (Alt Value), Data Science, Finance, and CX to build a world-class credit engine that delivers fast liquidity while maintaining strong portfolio performance.

You do not need to be a quant, but you must be comfortable with underwriting fundamentals, expected-vs-actual loss modeling, LTV logic, and risk controls — and equally comfortable designing clean, intuitive borrower flows. You will own both the backend credit engine and the customer-facing UI/UX for cash advances and loans.

This is a high-impact role directly tied to revenue, capital efficiency, and customer trust.

Alt’s lending and cash advance products require fast, accurate underwriting and seamless customer experiences. As we scale to larger loan sizes, more asset categories, and additional financing products, we need a dedicated PM to own the credit decisioning engine and improve both portfolio outcomes and customer liquidity.

Your mandate is to increase usable liquidity for customers (more accepted offers, more completed loans), while reducing losses and improving model accuracy.

1. Credit Decisioning Engine

• Own underwriting logic for both cash advances and loans.
• Partner with Data Science to refine model thresholds, LTV caps, expected-loss calculations, and override rules.
• Improve calibration between expected loss (EL) and actual portfolio performance.
• Ensure decisioning is fast, consistent, and scalable across asset categories.

2. Cash Advance & Lending Product Experience

• Own the borrower UI/UX end-to-end: application → offer → funding → repayment.
• Improve clarity, trust, and ease-of-use in the borrowing experience.
• Reduce friction and increase completion rates for both cash advances and loans.
• Develop features that encourage responsible, repeat borrowing.

3. Portfolio Performance & Risk

• Monitor loss rates, delinquency, utilization, and customer repayment behavior.
• Work with Finance to maintain healthy margins and capital efficiency.
• Implement guardrails that reduce adverse selection and improve overall risk quality.
• Build dashboards and reporting that clearly communicate model health.

• Own CX/Ops flows related to funding, repayment, manual review, and exceptions.
• Reduce operational overhead through automation and clear logic pathways.
• Ensure operational processes scale with volume while maintaining strong controls.

5. Roadmap + Execution

• Build and own the quarterly roadmap for cash advances and lending.
• Align Engineering, Data Science, CX, Finance, Compliance, and Marketplace Ops.
• Communicate priorities clearly and drive disciplined, cross-functional execution.

Northstar Metric:Risk-Adjusted Portfolio Performance

(Balancing high advance/lending volume with model accuracy, low losses, and healthy customer repayment.)

KPIs:

Offer Acceptance Rate (cash advances)

→ % of customers who receive and accept an advance offer

Lending Conversion Rate (loans)

→ % of customers who complete the lending flow and take out a loan

Loss Rate vs Expected Loss (EL)

→ Calibration of the underwriting model

Delinquency Rate (Loans)

→ Portfolio health and repayment behavior

• Higher offer acceptance and lending conversion without increasing losses.
• Faster underwriting decisions (hours → minutes).
• Improved model calibration: expected loss vs actual loss variance reduced.
• A simpler, more intuitive borrowing experience that increases customer trust and usage.
• Clean, scalable operational workflows with fewer manual interventions.
• Predictable, stable portfolio performance tied directly to Alt Value.

• 5–8+ years of PM experience in credit, lending, underwriting, risk, or fintech.
• Strong understanding of underwriting logic, expected-loss modeling, delinquency, and LTV frameworks.
• Comfortable interpreting model outputs and turning them into credit rules and customer-facing flows.
• Experienced partnering with Finance, Data Science, CX, and Engineering.
• A product thinker who can simplify complex financial decisions into clear, user-friendly interfaces.
• Able to operate at multiple altitudes — from credit model details to high-level product strategy.
• You move fast, take ownership, and communicate clearly.

• A seat at the table to help shape the future of Alt and the alternative asset space
• Autonomy and ownership on projects that matter
• $100/month work-from-home stipend
• $200/month wellness stipend
• WeWork office stipend
• 401(k) retirement benefits
• Flexible vacation policy
• Generous paid parental leave
• Competitive healthcare benefits, including HSA, for you and your dependent(s)

Base salary range: $180,000 - $230,000, plus equity. Offers may vary based on experience, location, and other factors.