The $21B Powersports market (motorcycles, ATVs, UTVs, PWCs, snowmobiles) is all about fast and fun, but the purchasing process is slow and frustrating. Octane enables consumers to live their passion by making powersports purchases instant, seamless, and widely available. Octane launched a credit product, branded as Roadrunner Financial, in 2016 to provide financing to prime and near-prime consumers who have historically been underserved by incumbent banks, expanding coverage to 50% of responsible consumers. Together with our automated underwriting and digital buying experience, Octane and RoadRunner cut the time to close a transaction from hours to minutes.
The market is choosing the Octane solution, as evidenced by ~25% of powersports merchants active on our platform (up 50% Y/Y), annualized origination run rate that is up over 3 X Y/Y. We are both the platform and the lender, which means we have both high growth and positive unit economics—rare for a fintech. We have raised >$60M in equity from IA Ventures, Valar Ventures, Contour Venture Partners, Citi Ventures, and other leading investors and closed >$200M in debt equity.
As part of the Credit Operations team at Roadrunner Financial you will be in charge of managing our credit verification process. You will be immersed in the day-to-day operations of the deal closing process.
Specifically, you will:
- Lead daily operations overseeing credit decisioning of credit applications and verification activities within loan processing in accordance with credit policy guidelines.
- Identify opportunities to improve alignment of credit policy with business strategy and make recommendations to credit policy and operating procedures as appropriate.
- Ensure teams’ credit quality and documentation are maintained and reported accurately.
- Create, maintain and monitor loan performance and service level metrics.
- Ensure accurate execution of credit policies and ensure compliance in accordance with the Fair Credit Reporting Act and other federal and state regulations, across multiple product lines and programs.
- Attract, recruit and hire top talent.
- Manage, mentor, motivate and evaluate personnel. Create and monitor employees’ professional development plans and programs to generate and maintain a healthy pipeline of organizational talent.
- Review and approve escalations to published credit guidelines using judgment and experience to produce risk outcomes within company expectations.
- Support Company objectives and management by performing other duties as assigned.
Requirements
Qualifications:
- Bachelors’ degree in Business, Finance or a related field, followed by 5+ years of experience managing indirect loan originations and consumer loan processing. Automotive, RV, motorsports or consumer loan durable goods industries preferred.
- Knowledge of and firsthand experience with subprime lending and funding principles, credit analytics and scorecards, and government regulations is required.
- Must be a hands-on, results-oriented leader with a proven track record for building and managing a successful team of 15 or more credit professionals. You should embrace a “roll up your sleeves” approach to problem solving, must be detail oriented, customer focused and capable of managing multiple tasks. Start-up environment experience preferred but not necessary.
- Must exhibit effective written and verbal communication skills.
- Must be confident handling escalated situations and comfortable presenting to groups.
- Proficient computing skills – e.g., G Suite, SalesForce, and Slack required.
- Must be a collaborative leader with ability to effectively guide and influence those within and outside his/her organization. Must be flexible to change and must be able to lead effectively through stressful conditions (e.g., peak seasonality, escalated disgruntled customer calls, managing workload through competing priorities).
- Must be able to travel for overnight trips. On average, total travel will be approximately 15%, however during peak travel seasons, it may be as much as 25%. (Travel could include weekends/holidays)
Benefits
- Health Care Plan (Medical, Dental & Vision)
- Retirement Plan (401k)
- Life Insurance (Basic, Voluntary & AD&D)
- Pre-Tax Commuter Benefits
- Paid Time Off (Vacation, Sick & Public Holidays)
- Short Term & Long Term Disability