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Credit Analyst

Backflip

Backflip

IT
Remote
Posted on Wednesday, May 8, 2024
Come help us change residential real estate investing for the better!
Backflip is a venture-backed real estate FinTech company that supports entrepreneurs to acquire and renovate single family homes, thereby reinvigorating the housing supply and their local communities. The company offers purpose-built technology and capital products to source, analyze and finance residential real estate investments. Backflip is an all-in-one platform providing entrepreneurs with the technology, data, and financing strategies that allows them to scale their businesses.
Backflip is seeking a Credit Analyst to join our Capital Markets Team. The candidate will be responsible for loan level credit decisions, portfolio analytics to inform credit policy enhancements, capital product design, and loss mitigation strategy + execution. Success in this role requires the ability to learn quickly while balancing structure and autonomy. This position reports to the VP of Capital Markets.
This is a rare opportunity to get in on the ground floor (~50 person team) working directly with executives in a fast-paced and well-capitalized startup (Series A closed in 2024).
All Backflip positions are remote (U.S.). Like the people we serve, we believe being free to create wherever you’re most inspired is one of life’s greatest joys. It’s better for individuals, for the community, and for fostering great work to emerge. With our work-from-anywhere approach, Backflip brings together a diverse team of individuals, with passions for innovation, art, coding, AI, data, finance, film, real estate, the environment, learning and teaching. Together, we're moving fast.

This candidate will champion Backflip’s Core Values:

  • Raise the standard of what is possible
  • Embrace being the novice to become the master
  • Work only with those who want the best for us
  • Communicate quickly, naturally and with radical candor
  • Test new things to invent and challenge the status quo
  • Today, nay now!

What You’ll Do:

  • Analyze and approve loan applications for value-add residential investment properties
  • Conduct due diligence on borrowers, properties, and market conditions
  • Build financial models to assess loan-and portfolio-level performance forecasts
  • Leverage proprietary internal and external data to enhance Backflip’s Credit Policy
  • Build and maintain credit scoring models to streamline high-quality credit decisions
  • Collaborate with the Sales, Marketing and Capital Markets teams to design innovative capital products to solve borrower pain points
  • Collaborate with Underwriting, Processing and Post-Close teams to ensure a best-in-class borrower experience
  • Stay current on industry trends impacting residential investment loans and the FinTech landscape
  • Prepare concise credit memos for consumption by Backflip’s Credit Council, Leadership Team and Board of Directors
  • Assist the Post-Close Experience team in managing distressed assets, ensuring effective loss mitigation
  • Develop and implement action plans to maximize the value of distressed assets, including through loan modifications and dispositions
  • Oversee the negotiation of workout agreements, borrower settlements and disposition transactions
  • Build relationships with external parties to facilitate loss mitigation efforts (asset managers, PropTech firms, brokers, legal, etc.)
  • This role will evolve as the company grows; there will be various tasks that fall outside of the responsibilities above.

Qualifications:

  • Bachelor's degree in business (finance, real estate, business administration, etc.)
  • At least 3 years of relevant professional experience
  • Experience analyzing FinTech credit deals and portfolios is a plus
  • Experience in real estate finance and asset management (especially distressed assets) is a plus
  • Experience developing innovative capital products is a plus
  • Deep knowledge of the market landscape for either: i) residential investment loans, or; ii) PropTech / FinTech ecosystem
  • Understanding of mortgages, loan structuring, underwriting principles, and legal documentation
  • Excellent analytical skills to assess loan risk and develop creative solutions for distressed assets
  • Excellent negotiation and communication skills
  • Proficiency in financial modeling (Excel or Google Sheets)

People That Thrive at Backflip Have…

  • A desire to learn and grow with the company; propensity to “think like an owner"
  • An execution-oriented “one-team” mindset with motivation and scrappiness to achieve objectives
  • The ability to multi-task with exceptional time management, prioritization and attention to detail
  • An entrepreneurial mindset and a passion for technology and innovation
  • A bias for action; inclined to deploy rapid testing and iteration cycles
  • The ability to work effectively in a small, relatively unstructured office environment
  • Excellent verbal and written communication skills with appropriate urgency to various audiences
  • Strong self-motivation, are coachable and highly collaborative; take ownership of tasks and pride in work product
  • High integrity; are dependable, accountable, humble and respectful
Backflip is an equal opportunity employer. We know that building a world-class organization is not possible without an intentional focus on recruiting, empowering, promoting and rewarding the best and brightest people of all backgrounds. Backflip focuses on hiring individuals that align with its Core Values (listed above), and consistently display a high ethical standard, both personally and professionally.
Check out this page to learn more about building a career at Backflip.