Manager, Credit Risk- Construction

Kiavi, formerly known as LendingHome, is one of the largest lenders to real estate investors in the United States. With Kiavi’s technology platform and innovative financing solutions, real estate investors are empowered to make informed decisions, close deals faster, and realize the full potential of their real estate investment strategies.

Founded in 2013, Kiavi is committed to helping customers revitalize approximately $25 trillion worth of aged U.S. housing stock and provide move-in ready homes and rental housing for millions of Americans across the country.  We have funded almost $13 billion dollars worth of loans across about 52,000+ projects, becoming one of the nation's largest bridge loan lenders. 

Combining our technology and industry expertise, Kiavi has grown to a team of over 400 and has won many awards over the years including Forbes Fintech 50, Finovate Awards: Best Digital Mortgage Platform, Fast Company’s Most Innovative Companies, and many more. 

• Loans Funded: $13+ billion in loans funded 
• Homes financed: 52,000+ projects funded for our customers across the country. 95% of projects have successful exits
• Geography: 31 states + D.C. where we lend to real estate investors so they can revitalize neighborhoods 
• Employees: Over 400 employees

This position can be based remotely in any of our approved hiring regions. Our hybrid distributed workforce philosophy allows us to find the best talent in the country and build diverse teams, while allowing our colleagues to work from the location that works best for them. 

The Role

The Manager, Credit Risk - Construction is responsible for overseeing and managing the credit risk, credit policy, underwriting standards and operational processes associated with Kiavi’s infill construction lending product. This role oversees the process of conducting research and analysis on market trends and risk scenarios and translating these into credit policies, underwriting standards and operational processes for the Infill construction lending product. The Manager, Credit Risk - Construction collaborates with various teams, such as underwriting, risk management, capital markets, sales, marketing and senior management, to ensure prudent lending practices and effective risk mitigation strategies.

Responsibilities

• Analyze market trends, economic conditions, and potential risks associated with construction lending and create a risk framework and aligned internal risk appetite for the product.
• Contribute to the development and refinement of credit policies and processes specific to construction lending. Ensure that lending practices align with regulatory requirements and internal risk appetite.
• Collaborate with sales, operations, compliance and risk to design and implement underwriting standards, operational processes, quality metrics and audit standards across the loan origination process
• Monitor the credit risk exposure of the construction loan portfolio. Implement strategies to diversify risk, minimize potential losses, and maximize the overall portfolio performance.
• Collaborate with sales, finance, and marketing to provide input on go-to market strategies and business plan for construction lending specifically with regards to, pricing, geographies and customer profiles, and make recommendations based on market and risk research and analysis
• Collaborate with capital markets to ensure the right capital market channels and partners are set up and that any requirements from capital partners are embedded in credit policy, underwriting standards and operational processes
• Oversee exceptions and escalations for construction loans either independently or by presenting recommendations to senior management or credit committees.
• Create and implement training for sales and operational staff who are involved in origination of construction loans, on quality, underwriting standards, credit risk factors, processes or related areas.

Qualifications

• Demonstrated success in rolling out new loan products with a focus on credit policy and underwriting guidelines, driving results in the creation or scaling of a new loan product
• In-depth experience and knowledge of the mortgage industry, specifically construction loans, fix-and-flip loans, within the business-purpose / real estate investing space
• Knowledge of relevant regulations, legal requirements, and industry best practices related to lending and credit risk management.
• Analytical mindset with the ability to interpret complex financial data and make sound credit decisions.
• Strong experience in contributing to credit policy, forecasting, and pricing of loan products
• In-depth experience with mortgage origination processes and underwriting standards
• Demonstrated ability to build and foster strong cross functional relationships across functional areas to solve complex problems

Kiavi takes a market-based approach to pay, and pay may vary depending on your location. The expected annualized base pay range for this full-time role to be performed remotely is $92,000 - $143,200 + equity + benefits. The range displayed on each job posting reflects the minimum and maximum target for new hire salaries. Within the range, the successful candidate’s starting pay will be determined based on job-related skills, experience, qualifications, work location, and market conditions. Your recruiter can share more about the specific base pay range for your preferred location during the hiring process. Please note that the pay range listed above reflects the base salary only, and does not include the target value of equity, or benefits.

We are not approved to hire in the following regions: Alabama, Alaska, Arkansas, Connecticut, Delaware, Idaho, Indiana, Iowa, Louisiana, Massachusetts, Mississippi, Montana, New Hampshire, New Mexico, North Dakota, Oklahoma, South Dakota, Vermont, Wyoming- As well as: NYC Metro Area, Seattle Metro, Washington DC Metro, Baltimore Metro, Chicago Metro, Houston Metro, Denver Metro, Portland Metro. 

Benefits and Perks 

• Product Ownership: All employees think like an owner because all new hires are granted stock options. After meeting a service requirement at Kiavi, we offer an extension to exercise options up to 3 years after termination.
• Health Insurance: Our medical, dental, and vision plans are completely free for employee-only coverage, and the company pays 80% of the total premium for dependents.
• Whole-Person Wellness: Anyone can schedule no-cost unlimited virtual therapy sessions, use a monthly subsidy for fitness facilities, and access reimbursements for fertility services.
• Carrot: The leading global fertility benefits provider, built to support employees through their lifelong fertility healthcare journey.
• Retirement Savings. Employees who participate in our “no fee” 401(k) receive an immediately-vested employer match on 100% of contributions up to 3% of compensation. 
• Career Growth: We foster an environment that encourages opportunities to use your voice, do better for our customers and each other, and support your career journey.
• Flexible Time Off: With no cap on the number of days of PTO each year, employees are encouraged to enjoy a well-rounded lifestyle with work, travel, and family.
• Paid Leaves: You’re immediately eligible for up to 12 weeks of paid leave each year to bond with a new child (mothers & fathers) and up to 8 weeks for medical or caregiver leave so you come back ready to deliver high-impact results.
• Remote-First: We win together while still being fully remote, and each employee receives a stipend for their home office setup and a monthly allowance to help with the cost of internet/phone.

Kiavi in the News:

• Comment start HousingWire: 2023 HW Tech100 Winner: Kiavi 
• PropTech Connect: Kiavi Closes $209M To Grow Its Funding Capacity 
• CrowdFund Insider: Kiavi Closes $158M Revolving Securitization of Residential Transition Loans 
• Mortgage Professional America: Real investors’ lender Kiavi achieves milestone  
• Inc Magazine: 2022 Best Places to Work: Kiavi