What are the responsibilities and job description for the Head of Credit position at Cashera?
Cashera combines technology, data, and industry know-how to deliver fast, flexible finance solutions for small and medium-sized enterprises.
Cashera is scaling its SMB lending platform from sub-$5K cash advances to a full suite including larger advances and a revolving credit line. We're looking for our founding Head of Credit/Chief Risk officer the person who will design and own everything related to how we make lending decisions, how we price risk, and how we protect the health of our loan and advance book as we scale.
This is the most important hire we are making. You will report directly to the CEO and will be the internal authority on all credit decisions, underwriting policy, and portfolio risk management.
Responsibilities:
- Design and own the credit underwriting policy, approval criteria, risk tiers, pricing bands, and exception processes
- Direct the data science team in building and iterating on the automated credit decisioning model
- Set and monitor portfolio risk appetite: default rate targets, vintage performance benchmarks, concentration limits by industry and advance size
- Build and maintain the credit risk framework for both cash advances and the revolving credit line product
- Partner with Compliance to ensure all credit policies meet ECOA, TILA, and applicable state lending requirements
- Produce monthly credit committee reporting for leadership, board, and institutional funding partners
- Manage the Credit Analyst team for manual review and exception handling
- Lead the response to any regulatory examination related to credit practices
What we need
- 3–10 years in SMB or commercial lending credit risk — not consumer credit
- Has designed or managed a scorecard or ML-based decisioning model
- Experience at a fintech lender (OnDeck, BlueVine, Fundbox, Kabbage, PayPal Working Capital, Fundbox) or bank SMB credit team
- Has managed a portfolio through a credit cycle ideally including 2020
- Understands the MCA vs commercial loan regulatory distinction in the US
- Can work directly with data scientists to translate policy into model requirements
- Strong written communication you will produce credit memos for our institutional lenders
Nice to have
- Experience with open banking / cash flow-based underwriting
- Has built a credit function from scratch at an early-stage lender
- Familiarity with specialty finance warehouse lending and borrowing base reporting
- Has worked with CFPB small business lending data reporting (1071 rule)
- Spanish language skills (we have a Mexico-based servicing team)