About Figure
Figure is revolutionizing financial services with its disruptive technology platform. Our flagship product is the #1 non-bank HELOC in America. We’re delivering new consumer lending products and a capital markets ecosystem that maximize efficiency and transparency – by capitalizing on our loan origination activities, extensive network of partners, and growing pool of assets.
Join a team of 450+ people at Figure who have originated $11+ billion in loan volume.
We’re very profitable and growing fast.Figure has raised $469 million from top investors like Ribbit Capital, DST, Apollo, and Morgan Creek.
FastCo Most Innovative Companies
Forbes Top 50 Blockchain Companies
About the Role
This position is responsible for portfolio oversight on real estate, unsecured, and non-traditional loan performance, which includes servicer management, delinquency, bankruptcy, loss mitigation, and foreclosure. This role also partners with the Capital Markets team to support the needs of our investors. The incumbent manages staff and strategically aligns staff assignments to minimize risk and ensure expected portfolio recoveries. The incumbent is responsible for ensuring compliance with all Figure, state, investor and federal guidelines and regulations. The incumbent is responsible for refining processes and documenting procedures to ensure adherence to changing requirements.
What You’ll Do
- Responsible for direct oversight and performance of $200M+ in assets strategically placed with multiple subservicers
- Ensure compliance with existing subservicers and/or source new partners through new initiatives as required
- Fiscal responsibility for decisions on default related activities to ensure maximum recoveries minimizing loss
- Prepares and leads performance presentations for both internal and external stakeholders
- Monitor and enhance daily reports from subservicer to ensure timelines are met as well as identify outliers and work to resolve the issues
- Maintain detailed records of high priority loan segments and be able to provide regular updates in a routine cadence as well as in one-off situations
- Provide routine feedback on roll rates, call calibrations, and issues management
- Partner with third party risk in evaluation of vendors and subservicer on quarterly scorecard
- Conduct routine meetings with subservicer to perform account reviews, call calibrations and review performance decks and trends
- Communicate with investor partners on seriously delinquent loans and co-host meetings between subservicer and investor clients
- Partner with various lines of business to help resolve complex matters in a timely manner
- Reconcile transfer reports for data inaccuracies and discrepancies
- Be able to review legal contracts and understand delegation of authority to ensure compliance with the parameters of the agreement
- Create and maintain job aids and working guides
- Suggest and implement alternative outreach strategies for unengaged and non-performing customers
- Conduct on-site due diligence and performance reviews of subservicer partner and vendors on a regular basis
- Engage in respectful interactions, behaviors, and attitudes that foster the Figure culture and support everyone is doing their best work
- Lead through change in a rapidly growing/fast-paced environment
What We Look For
- 5-7 years of mortgage related portfolio or asset management experience
- 1+ years of default mortgage experience
- Direct investor management experience preferred
- Working knowledge of bankruptcy terminology and requirements
- Advanced knowledge on title theory, standing and lien enforceability
- Good understanding of determining recoverability based on several loan attributes and external factors
- Ability to clearly and confidently communicate with senior leaders, external business partners and peers within Figure
- Bring a positive energy and willingness to tackle new tasks, policies and methodologies
- Ensure policies are compliant and provide the ability to document policy adherence as well as identify outliers via illogical and/or control reporting
- Ability to navigate data and complex reporting to identify trends and outliers. Ability to request reporting and analyze and report on results
- Possess the ability to effectively and transparently provide real time feedback and document performance issues with external partners
- Ability to handle escalated issues with a confident and knowledgeable approach and provide a resolution quickly and efficiently
- Ability to lead by example
- Proven success in critical thinking, problem solving, and process improvement
- Must be highly organized and able to manage multiple tasks and duties efficiently
- Ability to travel as needed with overnight stays, up to 20%
Salary
- Compensation Range: $97,680 - $115,000
- 25% bonus target
- Equity stock options package
- This is the compensation range for the United States, actual compensation may vary based on individual candidate experience, location, or evolving business needs
Benefits
- Comprehensive health, vision, and dental insurance with 100% employer-paid premiums for employees and their dependents on select plans
- Company HSA, FSA, Dependent Care, 401k, and commuter benefits
- Employer-funded life and disability insurance coverage
- 11 Observed Holidays & Accrued PTO plan
- Up to 12 weeks paid family leave
- Continuing education reimbursement
Depending on your residential location certain laws might regulate the way Figure manages applicant data. California Residents, please review our California Employee and General Workforce Privacy Notice for further information. By submitting your application, you are agreeing and acknowledging that you have read and understand the above notice.
Figure will not sponsor work visas for this position. In compliance with federal law, all persons hired will be required to verify identity and eligibility to work in the United States and to complete the required employment eligibility verification form upon hire.
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What We Do
Figure has applied blockchain technology across a series of real-world applications that are delivering real and immediate value to everyday consumers across sectors, including loan origination, private company cap table and fund management, security markets and payments. Figure has and continues to develop innovative products and services that seek to bypass traditional incumbents within the financial services industry.
Simply put, Figure is delivering on the promise of blockchain technology. Over $15B in transactions have been conducted on the Provenance Blockchain, a layer 1 designed for financial services, built and deployed by Figure.
As one of the first lenders to fully use blockchain technology, Figure is driving adoption across the lending ecosystem and providing stakeholders the benefit of an immutable record of asset ownership on the Provenance Blockchain. Figure’s HELOC product has enabled over 85,000 households across 45 states to unlock a combined $6 billion in equity from their homes. These lines of credit give people the opportunity to fund home improvement projects, secondary education, and more.
Figure is a regulatory powerhouse, boasting over 200 lending, servicing and money transmission licenses, SEC approval as an Alternative Trading System, and FINRA approved broker-dealer status. While some fintech companies aim to compete with traditional banks, Figure has stuck to expanding use cases for blockchain in finance and creating tech-enabled solutions for deep financial change in the markets. The company's iterative approach to product development has helped it to meet the evolving needs of its customers.
Why Work With Us
Figure creates tech-enabled, cutting-edge solutions for deep financial change, meeting the evolving needs of its customers. As the only firm leveraging blockchain technology to create real-world applications and immediate value to everyday consumers, Figure is effectively bridging the gap between the digital asset and traditional finance spaces.
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