COMPANY

Cottonwood Financial, headquartered in Las Colinas, Texas, is one of the largest privately-held financial service providers to the growing, under-banked segment of the retail consumer finance industry.  Founded in 1996, we have over 280 company owned locations across the country.  We are actively engaged in a high-volume, rapid retail rollout of new locations to significantly increase the footprint of our company throughout the United States in both existing and new markets.  We also continue to expand our product and service offerings. 

KEY COMPANY FACTS

·        Named to Dallas Business Journal’s “Top 100 Fastest Growing Businesses” for five consecutive years

·        Profitable every year since inception 

·        Revenues have doubled since 2004

·        Company has no debt - growth funded through internal capital

·        Plan to expand to 500 locations by the end of 2013

·        Locations are company owned – no franchises

·        Approximately 770 employees – 140+ at Corporate and 630+ in the field 

·        Corporate Office has 38,000 square feet

BENEFITS

Include medical (PPO or HSA), dental, vision, life, AD&D, 401(k) with company match, and a business casual work environment.

INDUSTRY

The US consumer finance industry has exploded in recent years to annual revenue of greater than $40 billion.  Retail consumer finance companies, a subset of the consumer finance industry, operate primarily in the subprime portion of the market serving under-banked consumers who are seeking secured/unsecured cash loans as a low cost alternative to costly bounced-check fees, late payment penalties, and other less desirable short-term credit options. 

CURRENT PRODUCT MIX

Cash Advances

Cash Advances are typically small, unsecured, short-term (until payday) cash loans of up to $2,000.  These loans are usually payable in a single payment.  Requirements for Cash Advances include a regular source of income, an active checking account, and valid driver’s license or state ID. To learn more about Cash Advances, please visit the Community Financial Services Association of America website at http://www.cfsa.net/about_payday_advance.html .

Title Loans

Title Loans are typically small, secured, short-term auto equity cash loans of up to $20,000.  These loans are usually payable in a single payment.  Requirements for a Title Loan include a regular source of income, a free and clear title, and a valid driver’s license.

Installment Loans

Installment Loans are typically small, unsecured or secured, short term cash loans of up to $2,000.  These loans are repaid with a fixed number of periodic equal-sized payments.  Requirements for Installment Loans include a regular source of income, an active checking account, and valid driver’s license or state ID.

SIMILAR PUBLIC COMPETITORS

Advance America         

QC Financial

POSITION

Reporting to the head of Project Management and working closely with the CEO/Founder, this position’s charter is to increase the company’s profits through improved underwriting.

RESPONSIBILITIES

·        Develop an underwriting model

·        Analyze and assess the value of available data from bureaus, internal customer accounts, and 3^rd party vendors

·        Perform complex statistical modeling

·        Continuously improve underwriting criteria and scoring to increase the overall profitability of our customer portfolio

·        Update underwriting algorithms as new products are launched, or existing products are updated

·        Make recommendations on how to refine and improve the model based on changes occurring in the marketplace

POTENTIAL CANDIDATES

·        Director/Manager of Risk Management

·        Director/Manager of Risk Analytics

·        Senior/Lead Statistician

·        Senior Modeler/Analyst

·        Senior Quantitative Analyst

·        Senior Portfolio Analyst

REQUIREMENTS

·        Undergraduate degree, preferably in statistics or mathematics

·        Minimum of five years of risk analytics/underwriting work experience

·        Minimum of two years experience with SAS software

·        Based in DFW area (no relocation)

IDEAL CANDIDATE

·        Masters in statistics or mathematics

·        Experience in consumer finance or banking

·        Strategic “thinker” who is also a “doer”

·        SAS certified

COMPENSATION

Annual salary is targeted to be up to $95,000.