DriveTime

Head of Loss Forecasting and Loan Valuation

Job Overview

DriveTime Needs a Head of Loss Forecasting and Loan Valuation

 

DriveTime is the nation’s second largest used car retailer, focused on helping people find and finance used vehicles.  We have single-handedly rebuilt, retooled, redreamed and reconfigured the way people think about buying cars, breaking apart from the industry’s status quo.  For more than 17 years, DriveTime has changed the auto world from the ground up while emphasizing growth from the inside-out!

 

DriveTime’s goal is to take every customer on the full path to vehicle ownership. All the way from purchasing vehicles, inspecting and selling; to financing, servicing and warranties – when it comes to owning a vehicle - we know what’s up!  As motivated as we are to take our customer on the path to ownership, we are just as focused on taking our employees on the path to owning their careers.  Across the nation, from our home office and customer service centers to our 138 retail locations and 20 inspection centers, we are looking for talented individuals like yourself to join our ever-growing team!

Job ID# 26559
Location: Tempe, Arizona
Interest: Corporate
Type: Regular Full-Time
Post Date: 8/16/2019

A Day in the Life of a Head of Loss Forecasting and Loan Valuation

That’s Nice, But What’s the Job?

 

In short, as the Head of Loss Forecasting and Loan Valuation, you are a highly analytical and collaborative thought leader partnering with Data Science, Credit Risk, and Finance to identify opportunities and implement new loss and cash flow forecast methods that will drive the account-level valuations for a $4.5B loan portfolio.  DriveTime’s loan-level forecasting model is an industry-leading tool that leverages cash flow modeling techniques and statistical algorithms and is brought to life via the collaboration of multiple teams and departments at DriveTime.  As a leader on the Risk Management team, you will share your insights and recommendations with many key company stakeholders including the Chief Risk Officer, the CFO and DriveTime’s Financial Planning unit. 

 

In long, as the Head of Loss Forecasting and Loan Valuation you will be responsible for:

 

  • Owning the primary loss and cash flow forecasting model utilized for all decisioning efforts and responsible for the ongoing improvement and accuracy in cash flow forecasts.
  • Being the definitive expert on loan valuations including overall, vintage, and segment-level loss performance and cash flow valuations.
  • Developing and implementing advancement in loss forecasting methodology.
  • Creating recession scenarios and cyclical loss frameworks.
  • Leading advancement in portfolio performance and loss monitoring reporting functions.
  • Integrating data science credit performance models into cash flow forecasting system.
  • Incorporating advancements in credit policy and underwriting into forecasts of losses.
  • Estimating and measuring loss and profits impacts of randomized tests and other pilot programs.
  • Identifying new segmentation criteria to better identify and capitalize on profit gradients.
  • Owning, adjusting, maintaining, and documenting a complex application infrastructure.

Qualifications

So What Kind of Folks Are We Looking for?

 

  • Killer analytical and problem solving abilities. You’ll need the capability to analyze data and in return, find the problems but more importantly find solutions.
  • Critical thinker. We need folks that don’t simply accept all arguments and conclusions but rather have an attitude involving questioning arguments and conclusions.
  • Excellent verbal and written communication skills. The ability to talk and write with confidence, charisma and competence for a wide variety of audiences including management.
  • Agile in a fast-past environment. We move, and we move quickly. Thriving in an environment that never stops, is a must.
  • Plays well with others. You will be working in a high-functioning team environment.  We work together in order to win together.
  • Collaborative contributor. You need the ability to coordinate and supervise staff while remaining an individual contributor to the team.
  • Works well in a time crunch. There will be multiple time sensitive requirements and you’ll need the ability to meet deliverable due dates.
  • Fantastic problem solver. Your job is not only to find the problem, but more importantly, find the solution.
  • Organization and time management skills in spades. You’ll be handling multiple projects and deadlines that will require you to prioritize then re-prioritize… then… re-prioritize again.
  • Operate automatously. This isn’t a “hold your hand” kind of role.  We give you autonomy to be creative in your space and do your thing.  We need an individual that is self-motivated to get the work done and get the work done well.
  • Takes a hold of the wheel.  You’ll need to take the initiative and be comfortable doing so.
  • Self-aware. Are you able to look in the mirror and take action on what you see?

 

The Specifics.

 

  • 5+ years hands-on experience solving consumer credit risk, loan-level pricing, or process design problems in a real-world setting.
  • 3-7 years’ hands-on experience modeling the performance of consumer loan products and loss forecasting experience. Experience with leading loss forecasting methods including approaches involving cyclical loss forecasts.
  • Strong understanding of data science consumer credit risk modeling approaches and concepts.
  • Managing and maintaining highly-complex, object-oriented programs (Python preferred).
  • Analytics activities producing forecasts, key insights, dashboard and reports and tools.
  • Key initiative shaping, project proposals, project oversight, prioritization, planning, tracking and delivery.
  • Strong understanding of debt and equity structures, advance rates, rates of return and discounting approaches.
  • Working knowledge of fixed vs variable cost and ABC frameworks.

 

Anything Else?  Absolutely.

 

DriveTime was awarded Top Companies to Work for in AZ by AZCentral.com for our great culture and one of the Best Places to Work in IT as awarded by PBJ.  Essentially we offer a creative, transparent and fun environment since, well, we work here too.  DriveTime was also voted the Fastest-Growing Private Companies by Inc 5000, and we aren’t slowing down anytime soon!

 

 

So What About the Perks?  Perks matter.

 

  • Medical, Dental and Vision. DriveTime pays a nice chunk of your premiums to keep the cost as low as possible for our employees.
  • 16 days of PTO and 6 paid Holidays. Because who doesn’t love time off?
  • Benefits like 401(k), company paid life insurance, short and long-term disability.
  • Casual Dress. Come dressed in jeans (you’ll fit right in with the rest of us).
  • Game Room. Gimme a break – no, not a Kit Kat ad but we do have a ping-pong table, pool table and Virtual Reality if you ever need a break in your day.
  • Wellness Program and In-House Gym. We want our employees to be the best versions of themselves. That’s why we offer a Wellness Program that includes an in-house gym, B12 shots, teeth cleanings, biometric screenings and much more!
  • Growth opportunities. DriveTime takes a lot of pride in promoting from within. We have spent the last 14 years growing our team members and taking them on the path to owning their careers!

 

 

Not the exact job that you're looking for?

See Similar Job Listings

Meet the DriveTime Crew!

We’re a team of innovators and engineers, movers and shakers, morning people and night owls, dreamers and believers, techies and talkers. But most of all we are a family. At DriveTime we’re fueled by the success of our employees as much as we are by the loyalty of our customers.

Brooke W.
Payroll Manager

 

What do you like most about working at DriveTime? The relationships I have built with both my coworkers and our employees. We are a very collaborative environment and I always feel that I can go to anyone with a question. There is a great work-life balance, and I truly believe that the company cares about my well-being.

What do you like to do outside of work? I love to spend time outside, and I try to hike and run as often as possible. Spending time with family and friends is my favorite thing to do.

Learn more about careers at DriveTime and view our open positions.

Take the next Step in Your Career at DriveTime.