Startup Jobs Startup Companies Post a Job! Startup Newswire Job Widgets
Search Startup Jobs
Funding1M-5M USD
Employees10
SalaryShhhh...
FulltimeYes
TelecommuteNo
IndustryP2P, Web 2.0, E-commerce, Social Networking, Financial Services
View full company profile
Other Openings
Business Analysis/Operations
Accounting and Finance

Experienced VP Private Student Loan Operations

at People Capital in New York, NY   —   Apr 05, 2014   |  
Overview
People Capital (http://www.people2capital.com) was founded in 2008 by a team of world-class talent with backgrounds in student loans, consumer finance, credit ratings and new media to develop the next generation of credit risk management and funding for student financing.

Built on research developed in The Wharton School of the University of Pennsylvania Insurance Department, the Human Capital Score™(http://www.humancapitalscore.com) combines credit-risk tools and metrics to give insight into each borrower's future potential. Using merit data such as GPA, standardized test scores, college and major it provides a true, unbiased measure of the economic value of an education that empowers students to make better educational decisions and offers multiple advantages for both borrowers and lenders.

Our peer-to-peer lending platform focuses solely on providing legally compliant private student loans in the form that students need – short-term, long-term, balloon and consolidation. It is far more than just “hanging out a shingle”; it is dedicated to providing a full range of student loan products and features, e.g., enrollment verifications, disbursements directly to schools, credit risk tools, etc..

We generate volume/liquidity by attracting institutional sources of capital, rather than relying solely on peer-to-peer’s “traditional sources”, i.e., individual lenders/investors. We are attractive to Financial Institutions who want to invest in the student loan space, but find the only current option (student loan ABS) unattractive due to lack of transparency and lack of insightful, granular credit risk tools. We are also attractive to Philanthropic/Affinity Groups who are interested in finding candidates that match their philanthropic objectives. Our platform helps them stimulate educational choices by “loans” rather than “donations” and thus allowing their investment funds to be replenished over time.

People Capital has also developed a turnkey solution for the selection, origination and servicing of private student loans. We provide an end-to-end, modular, web-based software solution that provides:

A loan origination engine compliant with student loan, consumer finance and securities regulations
A servicing platform able to process whole loans, fractional participation (aka “p2p”) and syndication
Detailed compliance, tax and risk management reporting
Traditional and proprietary credit underwriting tools

This is a complex legal and IT space. We have developed the roadmap for a legally compliant, Web 2.0 platform that will appeal to diverse lending segments across the spectrum of retail and institutional lenders.
Responsibilities
Responsible for the quality of Private Student loans processed on the behalf of clients.
Train staff and follow-up to ensure loans are granted within policy limitations and in the best interest of clients.
Develop and Document procedures/policies
Responsible for making recommendations for policy changes.
Coordinate loan department processing, underwriting efforts and ensure processing is completed according to guidelines and within regulations.
Review all compliance updates, and ensure that workflow processes and systems are updated to ensure compliance within timeframes established by recommendations.
Ensure a reasonable (to meet or exceed industry standards) turnaround time on loan approvals and declines for quality member service.
Responsible for management of lending process including lender relations, operations, incoming calls, underwriting, processing and funding.
Responsible for reporting on all loans. Report pipeline status reports to SVP, Operations.
Ensure that programs are developed and implemented to improve productivity in the Operational loan processing units.
Ensure processes and the performances of those processes are in strict compliance to all laws applying to industry regulations.
Must have the ability to exercise discretion and independent decision making within the lending, underwriting, operational departments.
Identify and develop measurement standards for the improvement of performance and operational effectiveness of the lending processing processes.
Detailed knowledge of Consumer and Commercial loan operations background , specific operational characteristics for the Origination and Servicing of Private Student Loan
Experience to include loan booking, disbursements, loan servicing, tax tracking, collateral vault operations, quality assurance, exception reporting and clearing, payment processing, project management and customer service.
Working knowledge of loan servicing platforms
Experience
Minimum 7-10 years Private Student loan operations management
Minimum 5 years Underwriting experience
Minimum 5-7 years of Project management, Start-Up experience is a plus
Experience must include loan origination, underwriting, disbursement, collateral tracking and exceptions management, customer service, and project management.
Must have experience with risk / fraud/compliance aspects of Student loans.
Detailed knowledge of specific unique characteristics of Private Student Loans, processing flows, Industry software/Industry players and regulations
Skills
Minimum 7-10 years Private Student loan operations management
Minimum 5 years Underwriting experience
Minimum 5-7 years of Project management, Start-Up experience is a plus
Experience must include loan origination, underwriting, disbursement, collateral tracking and exceptions management, customer service, and project management.
Must have experience with risk / fraud/compliance aspects of Student loans.
Must be a quick learner and detail oriented
Detailed knowledge of specific unique characteristics of Private Student Loans, processing flows, Industry software/Industry players and regulations
We are looking for the right candidate to start immediately
Preferred candidates in NYC tri-state area
No Relocation
Education
Bachelors Degree or above is preferred
Compensation
We are looking for the right candidate to start immediately
Preferred candidates in NYC tri-state area
No Relocation

Please do not submit applications if you do not have Private Student Loan/Underwriting/Operations Management Experience
Want this Job? Apply Now
About Us  |  Privacy Policy   |   Terms & Conditions  |  Contact Us
© 2014 Job Alchemist, Inc. All rights reserved.

Feedback

Startuply is in beta. Love it? Hate it? Want to suggest new features or report a bug? We'd love to hear from you.
    
Feedback